HK Stock Market Move | First Tractor (00038) rose by over 6% in the morning, global agricultural machinery leader's first-quarter financial report exceeded expectations, the company benefits from the turning point of the industry cycle.

First Tractor (00038) rose more than 6% in the morning, as of press time, it rose 5.57% to HKD 9.85, with a trading volume of HKD 51.9447 million. On the news front, global agricultural machinery leader John Deere's first quarter report for 2026 exceeded expectations, with the company also raising its full-year profit guidance from $4-4.75 billion to $4.5-5 billion. Sinolink released a research report stating that the recovery trend in the global medium and small agricultural machinery market remains strong, mainly due to the rebound in livestock and fruit industry amid rising global commodity prices and the stabilization of prices of Shenzhen Agricultural Power Group, optimistic about the cycle reversal of Chinese agricultural machinery exports and subsequent main grain-related agricultural machinery, and recommending First Tractor. Goldman Sachs commented that as a leading company in the traditional and intelligent tractor market, First Tractor is a major beneficiary of the turning point in the tractor industry cycle. The company's past stock price trends have been in sync with the tractor cycle. The bank pointed out that under the trend of large-scale/high-end upgrading of agricultural machinery equipment in China, First Tractor's profitability contains significant room for improvement and is gradually being realized. They reiterated a "buy" rating.