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Gold Tops $2400 Amid Rate-Cut Hope: Is the Bull Run Over?
The anticipation of a Federal Reserve rate cut in September has invigorated the gold market, propelling prices above the $2,400 threshold for the first time since May 22nd. This surge followed the release of US Consumer Price Index (CPI) data on Wednesday, which fell short of Wall Street expectations and prompted the market to price in over a 90% chance of a rate cut in September.
Shandong Gold Mining Foresees Up to 65% Rise in H1 Profit
Shandong Gold Mining (HKG:1787, SHA:600547) foresees its attributable profit will rise 42% to 65% to between 1.25 billion yuan and 1.45 billion yuan in the first half from 880 million yuan in the
Hong Kong stocks close (07.12) | The Hang Seng Index rose 2.59%, with strong performance from technology and mainland real estate stocks, and Longfor Group (00960) led the blue chips.
According to the Zhixun Finance APP, the U.S. CPI data for June boosted expectations of a rate cut in September, and the three major Hong Kong stock indices were strong again today, with the Hang Seng Index successfully surpassing the 18,000 level. At the close, the Hang Seng Index rose 2.59% or 461.05 points to 18,293.38 points, with a total daily turnover of 119.432 billion Hong Kong dollars; the Hang Seng China Enterprises Index rose 2.52% to 6,532.63 points; and the Hang Seng Tech Index rose 2.32% to 3,782.08 points. Looking at the entire week, the Hang Seng Index rose by 2.77%, the H Share Index rose by 2.36%, and the Hang Seng Tech Index rose by 5.15%. AXI International pointed out that the U.S. announced last night.
DBS Vickers maintains a "Same as Market" rating for SD Gold (01787) with a target price of HKD 20.2.
SD Gold (01787) expects a net profit of RMB 1.25 billion to RMB 1.45 billion for the first half of this year as of the end of June.
Shandong Gold Mining Obtains License for Yanshan Mine
Shandong Gold Mining (SHA:600547, HKG:1787) obtained the mining license package for the Yanshan mine area in Penglai District, Yantai City, China from through subsidiary Shandong Gold Group Penglai
HK stocks fluctuate | sd gold (01787) AH shares drop sharply on heavy volume, some institutions report that the company's first-half performance is below expectations.
SD Gold (01787) listed in Hong Kong saw a sharp decline in trading volume today. As of press time, A shares fell by 5.22%, H shares fell by 4.12%, to HKD 16.28, with a turnover of 0.233 billion HKD.
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