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HK stocks are acting abnormally | Some golden industrial concept stocks rose in the afternoon, with market concerns about interest rate cuts already fully traded. Institutions believe the sector's valuation repair is expected.
Some golden industrial concept stocks rose in the afternoon. As of publication, Zhaojin Mining (01818) rose 4.58% to HK$12.32; SD Gold (01787) rose 4.06% to HK$14.36; Laopu Gold (06181) rose 4.27% to HK$107.4.
[Hong Kong Stock Connect] Lao Pu Gold (06181) has previously risen by over 4%. With the approaching of the double festivals, gold and jewelry are ushering in the traditional peak season of consumer consumption.
Golden Finance News | In the morning session, Lao Pu Gold (06181) went against the market and rose by more than 4% at one point. As of the time of publication, it is still up 2.6% at HK$105.7, with a turnover of HK$32.7672 million. On the news front, with the approaching Mid-Autumn Festival and National Day, gold jewelry has entered the traditional peak consumption season. Securities Daily reporters recently visited several shopping malls in Hangzhou and Shanghai and found that compared to the restrained consumption of gold jewelry in the first half of the year, the popularity in front of gold jewelry counters is quite strong during the Mid-Autumn Festival and National Day. Some gold brands even had long queues outside their stores due to the launch of Mid-Autumn Festival discount activities. China Merchants Securities stated that the price of gold is currently at a high level.
HK stocks surge: Lao Pu Gold (06181) rises nearly 7% to a new high, the company is included in the Hong Kong Stock Connect list, and net profit in the first half of the year nearly doubles year-on-year.
After a sharp decline of 6% in the morning, the price of Lo Wu Gold (06181) continued to rise, with an increase of nearly 7% in the afternoon, reaching a new high of HK$98.3. As of the time of writing, it has risen by 6.69%, to HK$98.1, with a trading volume of HK$0.125 billion.
Smartknot exclusive | "The "entry into service" is about to take effect, and these stocks have already started celebrating! Is Hong Kong Stock Connect really the “heroic savior�?
According to the announcement by Hang Seng Index Company and Hong Kong Stock Exchange on August 16, this time a total of 33 stocks, including Wanwuyun, Maifushi, Chabaida, SF Express, Netease Cloud Music, Sunshine Insurance, Jingtai Technology, Laopu Gold, and Hang Lung Group, will be included in the scope of Hong Kong Stock Connect targets.
Cinda Securities: Maintain a “buy” rating on Lopu Gold (06181), with high performance growth in the first half of 2024.
Guosen Securities expects the net income attributable to the parent company of Lao Pu gold to be 1.079/1.412/1.754 billion yuan in 2024-2026.
Laopu Gold Records Higher Profit, Revenue in H1
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