Hong Kong Stock Market Performance: The Hong Kong bourse opened significantly higher, gaining 637 points (2.5%) to reach 25,884, with a slight decline noted in early trading, currently at 25,874 with a turnover of HKD138.135 billion.
Gold and Jewelry Stocks Decline: Major jewelry stocks and gold miners experienced declines, with LAOPU GOLD dropping 6.22% and other companies like LUK FOOK HOLD and CHOW TAI FOOK also seeing losses, attributed to a decrease in spot gold prices from recent highs.
Zijin Mining's Financial Results: Zijin Mining reported a 57% year-on-year increase in net profit for Q3, meeting expectations and prompting Goldman Sachs to maintain a Buy rating while raising the target price for its H shares.
Short Selling Activity: Several gold-related stocks faced significant short selling, with ratios indicating high levels of investor skepticism, particularly for companies like SD GOLD and CHIFENG GOLD, which saw declines of 4.5% to 5.8%.
Wall Street analysts forecast 00116 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 00116 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast 00116 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 00116 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
0 Hold
0 Sell
Current: 12.610
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Current: 12.610
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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.
