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Caterpillar’s Chinese Rivals Power Through the Pandemic

The Wall Street Journal – China’s machinery giants have built up some serious stock-market gains. Companies such as Sany Heavy Industry Co. and Zoomlion Heavy Industry Science & Technology Co. make the excavators, dump trucks, and cranes that keep China’s countless construction sites humming. These big players have prospered during the pandemic, as China’s property industry resumed building after some interruptions in early 2020. Meanwhile, Covid-19-related disruptions helped them to gain ground on foreign rivals like Caterpillar Inc. and Japan’s Komatsu Ltd. Exports have also started to recover sharply.

Some investors are looking at opportunities as larger swaths of the real economy come back online, said Brendan Ahern, chief investment officer at Krane Funds Advisors, LLC. “In China, that means profit-taking from more favored sectors and money rolling into more traditional sectors like industrials, energy, and materials,” he said.

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