HK Stock Market Move | Coal stocks mostly rose, with coal prices quickly stopping their decline and rebounding after the holiday. The release of peak season demand may open up space for coal price increases.

Most coal stocks rose, as of press time, Mongol Mining (00975) rose 10.03% to 13.6 Hong Kong dollars; SHOUGANG RES (00639) rose 5.28% to 2.99 Hong Kong dollars; CHINA QINFA (00866) rose 4.47% to 3.04 Hong Kong dollars; YANCOAL AUS (03668) rose 1.96% to 28.04 Hong Kong dollars; China Coal Energy (01898) rose 1.8% to 10.2 Hong Kong dollars. Guosen released a research report stating that after a rebound in coal prices in the second half of 2025, coal enterprise profits are expected to improve, and with the potential for an upward trend in coal prices in the fourth quarter, coupled with the current market recovery, the performance of the coal sector is significantly weaker than other sectors, with a clear bottom, expecting a rebound in the sector in the fourth quarter. After the holiday, coal prices quickly stopped falling and rebounded, reflecting continued strengthening expectations of supply tightening, lifting the bottom of coal prices, with the release of peak season demand opening up upward space for coal prices. Datong Securities pointed out that for thermal coal, during the National Day holiday and afterwards, continuous rainy weather has affected coal supply, with Daqin Railway maintenance, opening of terminal winter storage, and the peak season for non-electric coal promoting, in the short term, it is expected to jointly support the strengthening of coal prices. As for coking coal, downstream molten iron production remains high, coking enterprises lack confidence in further price increases, and many are taking a wait-and-see attitude. In addition, October is still a peak season for demand, with coal, coke, and steel total inventories at low levels supporting coal prices. In the short term, coking coal will continue to fluctuate.