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Brokerage Focus: CITIC Securities expects a turbulent upward trend in the A-share market in the second half of the year.
Jingu finance news | CCB international releases its outlook on Hong Kong stock market strategy for the second half of the year. The Hong Kong stock bear market since 2023 ended in January this year and has entered a shaking bull market. The Chinese fundamentals remain moderately repaired, and the policy tone continues to be based on stability. The chance of issuing strong stimulus policies is small, and the "strong production and weak demand" pattern will persist for a while, with a slight fluctuation in corporate profit recovery. The orderly slowdown of inflation and employment in the United States, along with a moderate economic growth, is expected to result in the earliest Fed rate cut in September this year and marginally benefit Hong Kong stock liquidity. The Hang Seng Index is currently at a historically low valuation level, and listed companies are actively buying back and increasing dividends.
Citigroup: Initiating a 30-day positive catalytic observation on Zhaojin Mining and Zijin Mining Group, with a 'buy' rating for both.
Citigroup's research report states that due to the expected increase in gold prices, gold producers such as Zhaojin Mining (01818) and Zijin Mining Group (02899) have opened a 30-day positive catalytic observation. The target price for Zhaojin Mining is HKD 18.9 and for Zijin Mining Group it is HKD 21.9, both rated as 'buy'.
Citi: Starts a 30-day positive catalytic observation on Zhongjin and Purple Gold, both rated as "buy".
In a report released by Citi, it was pointed out that the expected rise in gold prices will benefit gold producers, and a 30-day positive catalytic observation will be opened for Zhaojin Mining Group and Zijin Mining Group. The bank's target price for Zhaojin is HKD 18.9 and for Zijin is HKD 21.9, both rated as "buy."
According to Morgan Stanley, tight supply will support copper prices in the near term, with positive reactions expected from Zijin Mining Group and CMOC Group Limited.
According to a research report released by Morgan Stanley, recent industry news suggests that some anode and crude copper producers have temporarily suspended the production of squeezed waste copper, which will cause a short-term decline in refined copper production. Morgan Stanley believes that, coupled with the current tight supply of copper concentrate, it will continue to support copper prices in the short term, and expect a positive response from the industry’s Zijin Mining Group (02899) and CMOC Group Limited (03993). The State Administration for Market Regulation has earlier issued new “Regulations on Fair Competition Review”, which clearly stipulates that no tax preferences, selective differentiated financial rewards or subsidies shall be provided to specific operators without legal or administrative regulations basis or without the approval of the State Council.
Huili: bullish on gold's performance in the second half of the year, a chance to buy in on a dip to $2300.
Zhao Shande said that from a technical perspective, any pullback to the strong resistance at $2300 can provide a good buying opportunity for investors, reflecting that gold has a certain defensive capability.
The probability of interest rate cuts in September is 100%! International gold prices have soared to a new high. Analysts believe it will soon challenge $2500.
Will it continue to ramp up?
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