The throughput volume of Chinese ports improved by 7% m-o-m in May 2022 with Shanghai volume rebounding, compared to its marginal decrease of 0.8% m-o-m in April 2022, when stronger volumes from Ningbo and Shenzhen ports offset weaker throughput volume from Shanghai due to lockdowns in Shanghai and other domestic cities in China, says Chu.
OCBC Investment Research has kept a “buy” rating for Hutchison Port Holdings Trust (HPH Trust) with a lower target price of 26 US cents (36.5 cents) from 28 US cents previously.
The “modest adjustment” to HPH’s target price comes off the back of a revised forecasted growth rate for overall throughput volume, cost assumptions and an increased risk free rate of 3%, writes analyst Chu Peng.
