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Goldman Sachs: Maintains a "buy" rating on Zijin Mining Group and Baosteel, and gives Ganfeng Lithium and CNBM a "neutral" rating.
Goldman Sachs's research report expects that the replacement of old air conditioners and home appliances with new ones in the next few months will significantly impact the demand for copper, aluminum, lithium, and flat steel in mainland China. On the other hand, the trend in construction demand has not shown signs of improvement yet and appears to continue on its current multi-year adjustment path, therefore the bullish outlook for demand for construction steel, iron ore, and cement is expected to be limited. The firm believes that for every 10% increase in sales of air conditioners and home appliances, electric vehicles, and autos, a 10% acceleration in grid distribution, as well as the potential implementation of urban underground pipeline renovation plans, will increase mainland China's demand for copper by 4.3% and aluminum demand by
Stocks in Hong Kong surged against the trend, with golden industrial concept rising more than 5%, chinagoldintl experiencing geopolitical tensions.
Chinagoldintl rose more than 5%, sd gold rose 3%, zhaojin mining rose 2.9%, zijin mining group rose 2.7%. In terms of news, the recent tension in the Middle East continues to escalate; the General Staff of the Korean People's Army issued a combat readiness directive yesterday, and the military tension is on the brink of eruption.
Golden industrial concept rises against the market trend. Lingbao Gold (03330) rose by 3.26%. Institutions indicate that the space for interest rate cuts between China and the United States has opened further, pushing up the upper limit of the gold price.
Jingu Finance News | Golden industrial concept rose against the market, Lingbao Gold (03330) up 3.26%, Chinagoldintl (02099) up 2.73%, SD Gold (01787) up 2.46%, Zijin Mining Group (02899) up 2.36%, and Zhaojin Mining (01818) up 1.53%. On the news front, the World Gold Council issued a statement saying that global central bank gold demand slowed in August 2024, with net purchases of gold at around 8 tons. Although overall central bank gold demand has fallen from its peak in early 2024, it still maintains a positive growth trend. Huayuan Securities stated that the Federal Reserve
Goldman Sachs Raises China Economic Growth Forecasts
Hong Kong stock market highlights for the week ahead: Carrie Lam will deliver the Policy Address, zijin mining group and other companies will release their performance.
1. What are the highlights of Li Jiachao's annual "Government Work Report"? 2. Companies such as zijin mining group will release their performance, which companies are worth paying attention to?
Gold: Miners Set to Lead When the Broad Markets Top Out?