HK Stock Market Move | Cement stocks mostly fell, West China Cement (02233) dropped more than 12%, CNBM (03323) fell more than 4%

Most cement stocks are falling, as of the time of writing, WESTCHINACEMENT (02233) fell by 12.7%, to 1.65 Hong Kong dollars; CNBM (03323) fell by 4.48%, to 4.9 Hong Kong dollars; Anhui Conch Cement (00914) fell by 1.53%, to 17.98 Hong Kong dollars; Huaxin Building Materials Group (06655) fell by 0.44%, to 13.43 Hong Kong dollars. On the news front, Goldman Sachs issued a bulk commodity research report adjusting the price forecast for building materials in mainland China, with profit forecasts for sectors such as cement being lowered. Goldman Sachs noted that the cement sector is experiencing weak demand due to weak construction demand and soft pricing in the second quarter, but it is expected that demand will stabilize in the second half of the year with increased central government support for infrastructure financing. China Galaxy Securities previously pointed out that due to early occurrences of high temperatures and rainfall in May, cement market demand is low; the national clinker kiln stop rate is slightly lower than in April, releasing pressure on cement clinker supply, with inventory levels slightly increasing; some regions are tentatively pushing for price increases, but the actual implementation is below expectations, leading to a continued weakening of cement prices in May.