Core Viewpoint - The steel sector in Hong Kong is experiencing a decline, with major companies like Maanshan Iron & Steel and Angang Steel seeing significant drops in stock prices following the release of a new growth plan by the Ministry of Industry and Information Technology, which sets a target for average annual growth in the industry at around 4% for the next two years [1][1][1] Group 1: Market Reaction - Major steel stocks have seen substantial declines, with Maanshan Iron & Steel down 5.41% to HKD 2.45, Angang Steel down 5.48% to HKD 2.07, and Chongqing Steel down 5.04% to HKD 1.32 [1][1][1] - The market's reaction is attributed to the new growth plan emphasizing a controlled growth rate and a prohibition on new capacity, which contrasts with current industry growth rates and market expectations [1][1][1] Group 2: Policy Implications - The "Steel Industry Stabilization and Growth Work Plan (2025-2026)" aims for an average annual growth of around 4% and focuses on "stabilizing growth and preventing internal competition," providing a clear path for structural adjustment and high-quality development in the steel industry [1][1][1] - Analysts from CITIC Futures noted that the emphasis on maintaining a 4% growth rate and the ban on new capacity has led to a cooling of "anti-involution" sentiment, resulting in a slight price correction in the sector [1][1][1] - Galaxy Securities highlighted that under the ongoing supply-side reforms, steel production capacity is increasingly concentrating among high-quality leading companies [1][1][1]
港股异动 | 钢铁股午后跌幅扩大 钢铁稳增长方案出炉 机构称与现行行业增速以及市场预期?致