Materials Sector saw Strongest Start to The Year
Materials was the strongest of the sectors in January, generating an 11.6% market cap weighted total return, followed by the Energy Sector and the IT Sector. Defensive Sectors Telcos and Utilities were the only decliners for the month.
During January, the 20 largest stocks of the Materials Sector consisted of 16 gainers, two stocks unchanged and two stocks that declined in price. The average total return of the 20 stocks was 10.7%.
Of the 20 stocks, the three strongest performers in January were Midas Holdings (+63.9%), Delong Holdings (+42.6%) and China Sunsine Chemical Holdings (+24.4%). Midas’ JV Unit began January with three metro train contract wins worth RMB 2.68 Billion.
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