HK Stock Market Move | KB LAMINATES (01888) fell more than 6% in late trading. The company issued another price increase letter. Citi pointed out that the company's stock price declined due to macroeconomic negatives.

KB LAMINATES (01888) fell more than 6% in late trading. As of press time, it was down 6.13% at HK$41.96, with a turnover of HK$2.777 billion. On the news front, on October 14, KB LAMINATES Sales issued its latest round of price increase letters. Due to strong demand in the thin cloth market and tight supply and sharp price increases in upstream glass fabric and glass yarn, it raised the selling prices of laminates and PP using 2116 and below thin cloth as raw materials by 15% with immediate effect from new orders. This is the company's eighth price increase notice issued during the year. Citi published a research report stating that this price increase does not cover all CCL, but only high-end products. The bank believes that as long as inflationary pressure persists, a price increase for thick cloth will ultimately be only a matter of time. The bank noted that KB LAMINATES' share price has fallen more than 15% over the past week due to negative macroeconomic news, but this is not a problem with the company itself. The bank reiterated its "Buy/High Risk" rating and maintained its target price at HK$96.