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Copper stocks are under pressure. Chinfmining (01258) fell 4.07%. Institutions point to weak demand in the copper rod market.
Copper stocks were under pressure, with Chinfmining (01258) falling 4.07%, Chiho Env (00976) falling 3.92%, Jiangxi Copper (00358) falling 2.73%, and mmg (01208) falling 1.3%. Galaxy Securities said that last week, SHFE copper prices fell by 1.52% to 78,950 yuan/ton, SHFE copper stocks fell by 1.72% to 0.3161 million tons, domestic copper concentrate prices fell by 1.50% to 65,688 yuan/ton, and imported copper concentrate TC was $1.0/ton. On the supply side, shipping is generally normal, and smelters are under maintenance.
Special guest Deng Shengxing: the market expects the US to cut interest rates in the short term, and futures prices for crude oil products rise.
On Thursday (11th), the Hang Seng Index closed at 17832, up 360 points or 2.1%. The total daily turnover of the market was 100.38 billion yuan. The national index rose 120 points or 1.9% to 6371; the science and technology index rose 96 points or 2.7% to 3696. According to foreign reports, Apple plans to increase the shipment target of the new iPhone by more than 10%, and the apple supplier stocks listed in Hong Kong have soared. Shun Yu (02382) rose 4.6%; Raysonic (02018) surged 6%; The Dow Jones closed at 39753, up 32 points or 0.08%.
HK stocks surge | Non-ferrous stocks rise as Powell's dovish talk reinforces expectations of interest rate cuts. Metals are expected to usher in a new round of business cycles.
According to the Intelligence Investment App, non-ferrous stocks rose today. As of press time, Ganfeng Lithium (01772) rose 8.12%, reporting HKD 17.04; Jiangxi Copper (00358) rose 4.88%, reporting HKD 16.34; Zhaojin Mining (01818) rose 4.23%, reporting HKD 15.28; CMOC Group Limited (03993) rose 3.46%, reporting HKD 7.77; Chinahongqiao (01378) rose 1.4%, reporting HKD 11.6. In terms of news, Fed Chairman Powell once again “released doves”. During his testimony in Congress, Powell mentioned that the Fed does not need to wait for inflation to fall to 2%.
[Special VIP] Guo Jiayao: The peripheral trend is improving, which helps stabilize the performance of the Hong Kong stock market.
Golden Finance News | US stocks improved significantly on Wednesday. Fed Chairman Powell said that interest rates can be lowered even if inflation does not fall to the target level, which stimulated all three major indexes to record gains at the close, with the S&P 500 index and the Nasdaq both hitting new closing highs. The US dollar weakened, and the yield on the 10-year US Treasury bond fell to 4.28 basis points. The price of gold performed well, and oil prices also rose. Hong Kong's pre-collection securities generally performed well, and it is expected that the market will follow the high opening in the early stage. The mainland stock market fell yesterday, with inflation data lower than expected. The Shanghai Composite Index opened lower and fluctuated downwards, closing down 0.7%. The turnover of the Shanghai and Shenzhen stock markets shrank again. Hong Kong stocks performed slightly weakly, early
Jiangxi Copper has appointed YU Minxin as the executive director.
Jiangxi Copper (00358) announced that Mr. Yu Minxin was appointed as an executive director after the second resolution was passed at the extraordinary general meeting of shareholders.
Jiangxi Copper's EGM: Resolutions Passed Successfully
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