The Zhitong Finance App learned that Dongfang Overseas International (00316) fell nearly 4% at the end of the session. As of press release, it fell 3.52% to HK$153.5, with a turnover of HK$190 million.

According to the news, Daimo released a research report saying that Dongfang Overseas's revenue forecasts for this year and next year were lowered by 27% and 26% respectively to take into account the lower freight rates and volume due to weak global trade; cut its costs for this year and next year by 31% and 32% respectively, while adjusting the company's net profit forecasts for this year and next year to decrease 10.1% and increase 10.4% respectively. Daimo raised the target price of Dongfang Overseas International from HK$119.9 to HK$131.9, maintaining its “reduced holdings” rating.