HK Stock Market Move | CHINAHONGQIAO (01378) rises by over 4% again, two aluminum industry giants increase product premiums, aluminum companies generally saw growth in first quarter results.

CHINAHONGQIAO (01378) rose over 4% again, up 3.91% at the time of publication to HK$38.82, with a turnover of HK$7.94 billion. On the news front, major US aluminum suppliers, such as Rio Tinto Group and Century Aluminum, have recently raised the premium for key semi-finished aluminum products by about 12%. Sources pointed out that the interruption of imports from the Middle East due to the Iran war is the main reason for the price increase. It is reported that overseas aluminum prices have risen significantly, and domestic aluminum prices have also increased, driving up the performance of listed aluminum companies in the first quarter of this year. Citi released a research report stating that the aluminum industry is still its most favored sector, as supply will continue to be tight due to the Middle East situation and the recovery of aluminum production capacity may take longer. Based on the closing price on April 8th, CHINAHONGQIAO's forecast dividend yield for the 2026 fiscal year is 6.4%, which is attractive. The company also provides attractive dividend payments and share buyback guidance, focusing on shareholder returns. The target price of the bank has been raised from HK$36 to HK$48, maintaining it as the top choice in the industry with a "buy" rating.