HK Stock Market Move | WESTCHINACEMENT (02233) rose nearly 4% in morning trading as cement prices in Ethiopia recover and the company's overseas business begins to contribute to profits.

WESTCHINACEMENT (02233) rose nearly 4% in morning trading. As of press time, it was up 3.13% at HK$1.81, with a turnover of HK$8.9917 million. Guotai Haitong pointed out that since the shock of the exchange rate reform, Ethiopia's exchange rate has remained stable over the past year, providing favorable conditions for corporate profitability. Cement prices in Ethiopia have maintained an upward trend this year, with the national cement market price at about US$117 per ton in March, about US$127 per ton in June, and about US$150 per ton in September. The bank also noted that cement prices in Uganda remain firm, with attention to exchange rate fluctuations; cement prices in Uzbekistan are expected to rise steadily. WESTCHINACEMENT's interim report shows that in the first half of the year, sales volume in the Chinese market fell 22.6% to 5.15 million tons, while sales volume in overseas markets increased 29.3% to 5.39 million tons. The company said that investments in international markets have begun to bring returns, especially with operations in sub-Saharan Africa and Central Asia continuing to contribute significant profits to the company. The company expects to continue seeking growth opportunities in emerging markets in the future.