<Study>UBS Ratings and Price Targets for Gold Mining Companies (Table)
Stock Performance: ZIJIN MINING (02899.HK) and CMOC (03993.HK) experienced significant declines of 4.13% and 6.23% respectively, with notable short selling activity reported for both companies.
Analyst Ratings: HSBC Global Research raised the target price for ZIJIN MINING to $27.3 while maintaining a Buy rating, and Citi has placed JIANGXI COPPER (00358.HK) under a 90-day positive catalyst watch, upgrading its rating from Neutral to Buy.
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HSI Declines by 37 Points; Commodities Maintain Recovery; TENCENT Under Pressure
Market Overview: The HSI opened lower by 0.1% at 26,797, with the HSCEI and HSTECH also experiencing declines of 0.15% and 0.9%, respectively.
Resource Stocks Performance: Gold and silver stocks saw gains, with CHINAGOLDINTL up 2.8% and JIANGXI COPPER rising 3.0%, while ZIJIN MINING rallied by 2.1%.
Tech Stocks Decline: Major tech companies like TENCENT and BABA-W faced losses of 2.6% and 1.1%, respectively, with significant short selling activity noted across the sector.
Carmakers and Other Stocks: Carmakers BYD and LEAPMOTOR opened lower, while LI AUTO saw a slight increase of 2.2%. CKH HOLDINGS remained flat amid ongoing arbitration actions.
HSI Rises by 59 Points; Commodities Recover; HSBC Holdings and Standard Chartered Perform Well
Market Performance: The HSI closed up 59 points (0.2%) at 26,834, while the HSCEI and HSTECH fell by 27 points (0.3%) and 59 points (1.1%) respectively, with a total market turnover of HKD335.152 billion.
Tech Sector Movements: Major tech stocks like TENCENT, BIDU-SW, and BABA-W experienced declines, with TENCENT dropping 2.9% and BIDU-SW falling 3.6%, while NTES-S saw a slight increase of 0.3%.
Commodity and Bank Stocks: Commodity prices rose, benefiting stocks like ZIJIN GOLD INTL, which surged 7.8%, and bank stocks also performed well, with HSBC HOLDINGS increasing by 3.1%.
Short Selling Trends: Significant short selling activity was noted across various sectors, with TENCENT and BIDU-SW having high short selling ratios of 10.084% and 36.085% respectively, indicating bearish sentiment among investors.
HSI Rises by 220 Points; Gold, Silver, and Resource Stocks Recover; HSBC Holdings and NTES-S Surge
Market Opening Performance: The HSI opened 220 points higher at 26,995, with the HSCEI and HSTECH also showing gains of 0.6% and 0.7%, respectively.
Commodity and Mining Stocks: Mining stocks like CHINAGOLDINTL and ZIJIN MINING saw significant increases, with short selling ratios indicating active trading, while other commodities also trended upward.
Financial Sector Highlights: HSBC HOLDINGS rose 3% following positive forecasts from BNP Paribas, while AIA and HKEX experienced modest gains, reflecting a stable financial market.
Tech and Automotive Stocks: Mixed performance in tech stocks, with TENCENT declining slightly, while NTES-S and NEW ORIENTAL-S saw notable increases; automotive stocks like BYD and NIO faced declines amid high short selling ratios.
HSI Ends Day with a 611-Point Drop; Declines in Commodities, Telecoms, Chips, and Autos
Market Decline: Hong Kong stocks experienced significant losses, with the HSI dropping 611 points (2.2%) to close at 26,775, influenced by a volatile commodity market and declining resource stocks.
Precious Metals and Resource Stocks: Gold and silver prices fell sharply, with major companies like SD GOLD and ZHAOJIN MINING seeing declines of over 8%, while resource stocks like JIANGXI COPPER and CHALCO also reported significant losses.
Telecom Sector Impact: Telecom companies faced declines due to an increase in VAT from 6% to 9%, with CHINA UNICOM and CHINA TELECOM dropping over 6%, and CHINA MOBILE falling by 2.3%.
Automotive and Chip Sector Struggles: Automakers reported substantial sales declines, with BYD COMPANY and XPENG-W experiencing drops of 30% YoY and 34% YoY respectively, while the chip sector also faced losses, particularly for SMIC and HUA HONG SEMI.
HSI Declines 656 Points at Midday; Commodities, Chinese Telecoms, and Auto Sector Face Pressure
Market Performance: The HSI dropped 656 points (2.4%) to 26,730, with significant declines in the HSCEI and HSTECH, while total market turnover reached HKD178.124 billion.
Decline in Precious Metals: Gold and silver prices fell, with notable drops in CHI SILVER GP and SD GOLD, both experiencing declines of over 10%.
Resource and Telecom Stocks: Resource stocks like JIANGXI COPPER and CHALCO saw significant losses, while telecom companies such as CHINA TELECOM and CHINA UNICOM plummeted due to a VAT increase on telecom services.
Automotive and Tech Sector Struggles: BYD reported a 30.1% YoY drop in new energy vehicle sales, while major tech stocks like TENCENT and JD-SW also experienced declines, reflecting broader market challenges.
HSI Declines by 289 Points as Gold and Silver Miners, Resource Stocks, and Chinese Telecoms Weigh Down Market
Hong Kong Stock Market Performance: Hong Kong stocks opened lower, with the HSI down 1.1% at 27,097, the HSCEI down 1.3% at 9,191, and the HSTECH down 1.3% at 5,644.
Decline in Precious Metals: Gold and silver prices saw significant drops, with CHINAGOLDINTL plunging 12.3% and other mining stocks like ZIJIN MINING and SD GOLD also experiencing declines of over 10%.
Resource Stocks Slump: Resource stocks, including JIANGXI COPPER and CHALCO, faced declines between 5.5% and 7.2%, with substantial short selling activity reported.
Telecom Sector Adjustments: Telecom service VAT for major companies like CHINA MOBILE and CHINA UNICOM was adjusted from 6% to 9%, leading to significant stock price drops of up to 9.9% for CHINA UNICOM.
HSI Declines by 37 Points; Commodities Maintain Recovery; TENCENT Under Pressure
Market Overview: The HSI opened lower by 0.1% at 26,797, with the HSCEI and HSTECH also experiencing declines of 0.15% and 0.9%, respectively.
Resource Stocks Performance: Gold and silver stocks saw gains, with CHINAGOLDINTL up 2.8% and JIANGXI COPPER rising 3.0%, while ZIJIN MINING rallied by 2.1%.
Tech Stocks Decline: Major tech companies like TENCENT and BABA-W faced losses of 2.6% and 1.1%, respectively, with significant short selling activity noted across the sector.
Carmakers and Other Stocks: Carmakers BYD and LEAPMOTOR opened lower, while LI AUTO saw a slight increase of 2.2%. CKH HOLDINGS remained flat amid ongoing arbitration actions.
HSI Rises by 59 Points; Commodities Recover; HSBC Holdings and Standard Chartered Perform Well
Market Performance: The HSI closed up 59 points (0.2%) at 26,834, while the HSCEI and HSTECH fell by 27 points (0.3%) and 59 points (1.1%) respectively, with a total market turnover of HKD335.152 billion.
Tech Sector Movements: Major tech stocks like TENCENT, BIDU-SW, and BABA-W experienced declines, with TENCENT dropping 2.9% and BIDU-SW falling 3.6%, while NTES-S saw a slight increase of 0.3%.
Commodity and Bank Stocks: Commodity prices rose, benefiting stocks like ZIJIN GOLD INTL, which surged 7.8%, and bank stocks also performed well, with HSBC HOLDINGS increasing by 3.1%.
Short Selling Trends: Significant short selling activity was noted across various sectors, with TENCENT and BIDU-SW having high short selling ratios of 10.084% and 36.085% respectively, indicating bearish sentiment among investors.
HSI Rises by 220 Points; Gold, Silver, and Resource Stocks Recover; HSBC Holdings and NTES-S Surge
Market Opening Performance: The HSI opened 220 points higher at 26,995, with the HSCEI and HSTECH also showing gains of 0.6% and 0.7%, respectively.
Commodity and Mining Stocks: Mining stocks like CHINAGOLDINTL and ZIJIN MINING saw significant increases, with short selling ratios indicating active trading, while other commodities also trended upward.
Financial Sector Highlights: HSBC HOLDINGS rose 3% following positive forecasts from BNP Paribas, while AIA and HKEX experienced modest gains, reflecting a stable financial market.
Tech and Automotive Stocks: Mixed performance in tech stocks, with TENCENT declining slightly, while NTES-S and NEW ORIENTAL-S saw notable increases; automotive stocks like BYD and NIO faced declines amid high short selling ratios.
HSI Ends Day with a 611-Point Drop; Declines in Commodities, Telecoms, Chips, and Autos
Market Decline: Hong Kong stocks experienced significant losses, with the HSI dropping 611 points (2.2%) to close at 26,775, influenced by a volatile commodity market and declining resource stocks.
Precious Metals and Resource Stocks: Gold and silver prices fell sharply, with major companies like SD GOLD and ZHAOJIN MINING seeing declines of over 8%, while resource stocks like JIANGXI COPPER and CHALCO also reported significant losses.
Telecom Sector Impact: Telecom companies faced declines due to an increase in VAT from 6% to 9%, with CHINA UNICOM and CHINA TELECOM dropping over 6%, and CHINA MOBILE falling by 2.3%.
Automotive and Chip Sector Struggles: Automakers reported substantial sales declines, with BYD COMPANY and XPENG-W experiencing drops of 30% YoY and 34% YoY respectively, while the chip sector also faced losses, particularly for SMIC and HUA HONG SEMI.
HSI Declines 656 Points at Midday; Commodities, Chinese Telecoms, and Auto Sector Face Pressure
Market Performance: The HSI dropped 656 points (2.4%) to 26,730, with significant declines in the HSCEI and HSTECH, while total market turnover reached HKD178.124 billion.
Decline in Precious Metals: Gold and silver prices fell, with notable drops in CHI SILVER GP and SD GOLD, both experiencing declines of over 10%.
Resource and Telecom Stocks: Resource stocks like JIANGXI COPPER and CHALCO saw significant losses, while telecom companies such as CHINA TELECOM and CHINA UNICOM plummeted due to a VAT increase on telecom services.
Automotive and Tech Sector Struggles: BYD reported a 30.1% YoY drop in new energy vehicle sales, while major tech stocks like TENCENT and JD-SW also experienced declines, reflecting broader market challenges.
HSI Declines by 289 Points as Gold and Silver Miners, Resource Stocks, and Chinese Telecoms Weigh Down Market
Hong Kong Stock Market Performance: Hong Kong stocks opened lower, with the HSI down 1.1% at 27,097, the HSCEI down 1.3% at 9,191, and the HSTECH down 1.3% at 5,644.
Decline in Precious Metals: Gold and silver prices saw significant drops, with CHINAGOLDINTL plunging 12.3% and other mining stocks like ZIJIN MINING and SD GOLD also experiencing declines of over 10%.
Resource Stocks Slump: Resource stocks, including JIANGXI COPPER and CHALCO, faced declines between 5.5% and 7.2%, with substantial short selling activity reported.
Telecom Sector Adjustments: Telecom service VAT for major companies like CHINA MOBILE and CHINA UNICOM was adjusted from 6% to 9%, leading to significant stock price drops of up to 9.9% for CHINA UNICOM.
