X Financial and Zhihu Shares Drop 4.4% and 4%, Impacting ETF Performance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 23 2025
0mins
Should l Buy TECK?
Source: NASDAQ.COM
- ETF Underperformance: The ActivePassive International Equity ETF fell approximately 3.2% in Tuesday afternoon trading, indicating signs of overall market weakness that could impact investor confidence.
- Individual Stock Performance: Shares of X Financial dropped about 4.4%, while Zhihu shares fell around 4%, with the poor performance of these stocks directly dragging down the ETF, reflecting market concerns about these companies.
- Market Reaction: The overall decline in the ETF may prompt investors to reassess their portfolios, particularly in the international equity space, potentially leading to capital outflows.
- Industry Impact: This downward trend may trigger a broader examination of related sectors, especially in the current economic climate, where investor confidence in tech and financial stocks may be adversely affected.
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Analyst Views on TECK
Wall Street analysts forecast TECK stock price to fall
6 Analyst Rating
2 Buy
3 Hold
1 Sell
Hold
Current: 50.950
Low
39.62
Averages
45.92
High
51.87
Current: 50.950
Low
39.62
Averages
45.92
High
51.87
About TECK
Teck Resources Limited is a resource company that operates a portfolio of copper and zinc operations across North and South America. The Company’s projects include the Highland Valley Copper (HVC) Mine Life Extension Project, Galore Creek Project, Zafranal Project, and NuevaUnion. The HVC Mine Life Extension is located at the HVC site, approximately 17 kilometers (km) west of Logan Lake and 75 kilometers southwest of Kamloops. The Galore Creek Project is situated in Tahltan Territory in northwestern British Columbia, around 370 km northwest of Smithers. The Zafranal Copper Project lies in the Arequipa Region of southern Peru, within the prolific porphyry copper belt. The NuevaUnion Project is a undeveloped copper-gold-molybdenum mining venture in the Americas, located in Chile’s Atacama Region; its two deposits are about 40 km apart. Its Red Dog Operations is a zinc mine located approximately 170 km (105 miles) north of the Arctic Circle in northwest Alaska, near Kotzebue.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Supply-Demand Imbalance Forecast: According to a study by S&P Global, copper demand is projected to reach 42 million metric tons by 2040, a 50% increase from current levels, while a supply deficit of 10 million metric tons is anticipated, indicating a severe market imbalance in the coming years.
- Price Surge Driven by Shortages: The tight supply has caused U.S. copper futures to soar over 41% in 2025, marking the largest increase since 2009, reflecting strong demand for copper and the fragility of supply chains in the market.
- Mine Supply Disruptions: In 2025, three major copper mines faced shutdowns due to natural disasters and accidents, leading to downward revisions in production forecasts, particularly for the Kamoa Kakula mine in Congo and El Teniente mine in Chile, with production expected to be depressed for the next five years.
- Tariff Impact on Market: The U.S. imposed a 50% tariff on semi-finished copper products, resulting in heavy stockpiling domestically while creating tight supply conditions outside the U.S., leading to an
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- Zinc Concentrate Agreement: Teck Resources has reached an agreement with Korea Zinc to sell zinc concentrates at a slightly higher processing fee in 2026, reflecting ongoing demand growth and rising market prices for zinc.
- Processing Fee Increase: Reports indicate that the treatment charge for smelting semi-processed ores has risen to $85 per ton this year, highlighting increased cost pressures in the metal processing industry that could impact future profit margins.
- Metal Price Surge: Zinc futures have risen by 4.3% this year, while spot silver prices have advanced by 18%, indicating strong market demand for both metals, which may lead to higher revenues for Teck.
- Strategic Implications: As one of the world's largest integrated germanium producers, this agreement not only solidifies Teck's position in the zinc and silver markets but also enhances its competitive edge in the semiconductor industry through an improved product portfolio.
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- Trade Goals Set: Prime Minister Modi and Prime Minister Carney pledged to expand bilateral trade to CAD 70 billion (approximately USD 51 billion) by 2030, which will aid economic recovery and enhance interdependence between the two nations.
- Nuclear Cooperation Agreement: The leaders welcomed a CAD 2.6 billion commercial pact between Cameco and India's Department of Atomic Energy, although the previous uranium supply agreement from 2015 was not fulfilled, indicating ongoing challenges in nuclear collaboration.
- LNG Supply Potential: Carney stated that Canada aims to become a key supplier of liquefied natural gas (LNG) to India, with plans to increase LNG production to 50 million tonnes by 2030, while India plans to double the share of LNG in its energy mix, showcasing strategic complementarity in energy.
- Signs of Improved Relations: Both leaders noted significant improvements in bilateral relations over the past year, with interactions exceeding the total of the last two decades, despite lingering historical tensions, indicating potential for cooperation based on political trust and commercial logic.
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- Stock Surge: Blue Moon Metals (BMM) saw an 11.5% increase in its stock price on Monday, reaching an all-time high of $5.80, reflecting strong market confidence following its acquisition of the Apex mine.
- Acquisition Details: Under the agreement, Blue Moon will issue 7 million common shares to Teck Resources (TECK), representing 8% of its outstanding shares, while Teck will receive a 0.5% net smelter returns royalty, enhancing its revenue potential in mining.
- Value Chain Integration: Blue Moon aims to integrate its California mine with processing at the Springer complex in Nevada and smelting at Teck's Trail Operations in Canada, creating a fully integrated North American value chain that boosts operational efficiency.
- Strategic Partnership: This deal strengthens Blue Moon's relationship with key shareholder Hartree Partners, which is collaborating with the U.S. government on a $12 billion critical metals stockpile, highlighting Blue Moon's strategic positioning in the critical metals sector.
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- Inventory Surge: Copper exchange inventories have surpassed 1 million tons for the first time in 21 years, indicating a lack of confidence in long-term supply, even as prices remain elevated compared to January levels, reflecting a tight supply-demand dynamic.
- Demand Slowdown: China's copper demand has softened, and smelter activity has slowed; nevertheless, copper is increasingly recognized as a foundational material for 21st-century infrastructure, particularly in electric vehicles and renewable energy applications.
- Strategic Investment: Capital expenditures to maintain current copper production are projected to reach $250 billion over the next decade, shifting market focus to emerging markets, with the Democratic Republic of Congo (DRC) becoming increasingly significant in global copper production.
- Optimistic Market Outlook: Despite geological challenges, investors remain bullish on copper, anticipating sustained demand growth in electric vehicles, solar energy, and data centers, which will drive industry expansion.
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