Reported 7 months ago
Wan Hai (2615) failed to break the hundred yuan mark for two consecutive days, leading to disappointment among investors and a pullback to the monthly average. However, the bulls ambushed on the 14th by hitting the limit up again and closing at 92.8 yuan, regaining all moving average supports successfully. Despite self-traders buying over three days, foreign investors have not shown increased interest yet, with a net selling of 6,085 shares on the 13th. Wan Hai's May combined revenue was up 13.31% monthly and 40.14% annually, benefiting from rising freight rates and volumes. Looking ahead to the second half of the year, factors like Middle East geopolitical tensions affecting shipping capacity and port congestion may impact Wan Hai, but it foresees steady growth. In other news by Commercial Times, the worsening COVID-19 situation in Xi'an has led to an emergency lockdown, potentially affecting the semiconductor and automotive industries, while companies like Delta Electronics are making significant investments in China and Mega Financial Holding is organizing a $250 million syndicated loan for CFHC.
Source: YAHOO