Taiwan's largest steelmaker, China Steel Corporation, is hurting as neighboring China dumps steel.
Asia steel stocks under our coverage have suffered from initial knee-jerk reactions as Donald Trump won the U.S. presidential election. Nonetheless, their share prices have mostly recovered shortly after the market opened on Nov. 10. In our view, investors should not overreact to Trump’s win as it should have limited impact to our fair value estimates. That said, we would like to highlight that most steelmakers under our coverage are still overvalued and our no-moat ratings on these companies re...China Steel is engaged in the manufacture and sale of steel products and machinery, transportation and electrical machine engineering contracting. Through its subsidiaries, Co. is engaged in the provision of transportation services; the manufacture and sale of aluminum products and other non-ferrous metal products; common and equity investment; the development and rental of non-current assets; the provision of guard and system security services; the design of software system; the manufacture, purchase and sale of magnetic powder; the provision of enterprise management advisory services; the design for environmental mechanical and electrical engineering; and waste management.
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