On September 3, PACIFIC BASIN rose 5.26% in regular trading, reaching HK$4.3 per share, with turnover of approximately HK$47.93 million.

On the news front, the company previously reported stellar interim results alongside multiple brokerage upgrades, while September 3 marks the interim dividend payment date of HK$0.155 per share. For H1, shareholder attributable profit surged 310.35% year-over-year to US$105 million, with revenue rising 9% to US$1.106 billion. Adjusted net profit reached US$95 million, up 333% year-over-year. Handysize and Supramax daily time-charter equivalent rates of US$14,200 and US$16,600 respectively outperformed market indices by significant margins.

Several brokerages issued positive revisions following the results. Bank of America upgraded the stock to Buy with a target price of HK$4.5, while JP Morgan raised its target to HK$4.3 maintaining an Overweight rating. Huachuang Securities maintained its Recommend rating with a HK$5.05 target, citing projected dividend yields of 9.9%-12.1% for the coming years.

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