OOIL leads rise in Hong Kong shipping groups on industry optimism

SITC International Holdings

20/11/2020 04:55

** Orient Overseas (International) Ltd (OOIL)  0316.HK 
leads rise in HK-listed container shipping stocks
    ** Shares rise as much as 12.3% to HK$69.95, their highest
since Aug 2007
    ** COSCO Shipping Holdings Co Ltd's HK shares  1919.HK  jump
as much as 7.8% to HK$7.49, highest since April 2015
    ** Brokerages bullish on container shipping sector, citing
increase in volume and freight rates 
    ** Jefferies maintains "buy" on OOIL and Hong Kong shares of
COSCO Shipping; cites inventory restocking, box equipment
shortage and growing port congestion
    ** Expects favourable industry fundamentals into 2021 as
liners still have bargaining power on pricing near-term amid
limited supply
    ** HSBC increases profit forecast across board by 4% to 33%
in 2020-21 
    ** Maintains "buy" on HK-listed COSCO Shipping and SITC
International Holdings Co Ltd  1308.HK  
    ** SITC stock rises as much as 6.9% to record high of
HK$17.12
    ** The Hang Seng China enterprises index  .HSCE  edges up
0.02%, and the benchmark index  .HSI  gains 0.4%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)