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Hong Kong stocks' movements | Copper companies saw a widespread decline in early trading as copper concentrate long-term processing fees hit a historical low, Institutions indicate that the driving effect of policy expectations is fading.
Copper stocks all fell in the early session. As of the time of writing, MMG (01208) fell by 4.21%, trading at 2.73 HKD; CMOC Group Limited (03993) fell by 4.09%, trading at 5.63 HKD; Zijin Mining Group (02899) fell by 3.46%, trading at 15.06 HKD; JIANGXI COPPER (00358) fell by 1.98%, trading at 12.88 HKD.
Hong Kong stocks are moving differently | Nonferrous Metals stocks are collectively rising, positive policy signals boost expectations, industrial Nonferrous Metals Consumer is expected to improve.
Nonferrous Metals stocks rose collectively. As of the time of publication, Aluminum Corporation Of China (02600) increased by 3.39% to 4.88 HKD; CMOC Group Limited (03993) rose by 3.13% to 5.94 HKD; Zijin Mining Group (02899) grew by 2.84% to 15.92 HKD; CHINAHONGQIAO (01378) climbed by 2.64% to 12.42 HKD.
Major brokerage rating | Morgan Stanley: Downgraded cmoc group limited target price to HKD 8.3 and lowered earnings per share forecast.
Morgan Stanley published a report, downgrading cmoc group limited's earnings per share forecasts for 2024 to 2026 by 5%, 5%, and 2%, to 0.52 yuan, 0.59 yuan, and 0.62 yuan respectively. The firm reduced cmoc group limited's target price from 8.7 HKD to 8.3 HKD, maintaining a "shareholding" rating. The report indicated that the first three quarters of cmoc group limited showed production better than expected, raising the annual copper sales forecast and increasing the cobalt sales forecasts for 2024 to 2026. Additionally, the assumed effective tax rate was adjusted from 38% to about 43%.
CMOC Group Limited's (HKG:3993) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Shanghai Stock Exchange Announcement! sse 50, sse science and technology innovation board 50 index and other indexes will undergo a significant adjustment, effective after the market closes on December 13th.
Chongqing Sokon Industry Group Stock, crrc corporation, Beijing-Shanghai High Speed Railway, CMOC Group Limited, Cambrian Innovation Incorporated added to sse 50
Shanghai Stock Exchange: Adjusting the sample stocks of sse 50, sse 180 index, sse 380 index, sse science and technology innovation board 50 index and other indices.
On November 29, the exchange announced that according to the index rules, after consideration by the Index Expert Committee, Shanghai Stock Exchange and China Securities Index Co., Ltd. decided to adjust the samples of the sse 50, sse 180 index, sse 380 index, sse science and technology innovation board 50 index, which will take effect after the market closes on December 13, 2024.
CMOC Group Limited's (HKG:3993) 28% Share Price Surge Not Quite Adding Up
