HK Stock Market Move | ND PAPER (02689) rose over 8% in the afternoon, hitting a near three-year high. The stock price has increased by over 20% within the month.

ND PAPER (02689) rose more than 8% in the afternoon, hitting a high of 7.35 Hong Kong dollars, reaching a new high since January 2023, with a cumulative increase of over 20% in the month. As of the time of writing, it has risen by 8.43% to 7.33 Hong Kong dollars, with a turnover of 165 million Hong Kong dollars. On the news front, recently, packaging paper companies represented by Nine Dragons, Lee & Man, Rongcheng have undergone large-scale shutdowns for maintenance, actively shrinking supply; at the same time, Bohui, APP, Nine Dragons Paper Holdings, Asia Pacific Resources International Limited and other white cardboard and cultural paper companies have collectively announced price increases. In addition, the Renminbi recently broke through 7. BoHai Securities believes that China's paper industry is dependent on overseas pulp, and the appreciation of the Renminbi is conducive to reducing the cost of purchasing pulp and improving the industry's profitability. Shenwan Hongyuan Group points out that the industry has been grinding for many years, the established trend of long-term supply-demand improvement, and focusing on the potential landing space of anti-internal competition policy in the paper sector, as well as the marginal changes in demand, may contribute to cyclical elasticity.