HK Stock Market Move | WH Group (00288) falls more than 4% again, accumulating a nearly 10% decline within the month. The downward trend in pork prices is expected to be difficult to change.

WH GROUP (00288) fell by over 4%, at the time of publication, it fell by 4.05% to HK$7.34, with a turnover of HK$183 million. On the news front, on October 13th, the main contract for live pig futures, 2511, closed down by 2.88% at 11125 yuan/ton, hitting a historical low and dropping by 21% year-to-date and over 40% from last year's peak. The current spot price of pork has dropped below 11 yuan/kg. Market analysts believe that although the supply side has been steadily working to reduce production capacity in recent months, the effect is not as expected, and the market's supply and demand imbalance still persists, with a downward trend in pork prices expected to be difficult to change. It is noteworthy that WH GROUP announced last month to pay a special dividend of HK$0.3 per share. UBS released a research report stating that the dividend payout meets market expectations and all proceeds from the secondary public offering of Smithfield will be distributed in the form of special dividends. In addition, WH GROUP plans to hold a board meeting on October 28th to approve third-quarter results.