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Market Performance: The HSI continued its decline, closing at 25,465, down 300 points or nearly 1.2%, with a turnover of about HKD123.6 billion, underperforming compared to the region.

Non-Ferrous Sector Struggles: H-shares in the non-ferrous sector faced significant sell-offs, particularly among copper miners, with notable declines in stocks like ZIJIN MINING and CMOC.

Aluminum Stocks Decline: Aluminum stocks also experienced downward pressure, with major companies like CHINAHONGQIAO and CHALCO seeing substantial losses.

Gold Stocks Downtrend: Gold stocks trended downward as well, with companies such as SD GOLD and ZIJIN GOLD INTL reporting declines of 3-4%.

HSBC Global Research Report: The report indicates strong demand and limited supply are driving base metal prices higher, with potential for further price increases due to tight market conditions.

Focus on Aluminum Stocks: HSBC favors aluminum stocks due to low inventory levels and a capacity limit of 45 million tons, which are expected to support aluminum prices.

Buy Ratings on Specific Stocks: The research firm has issued Buy ratings for CHINAHONGQIAO and CHALCO, with target prices of HKD37.4 and HKD12.3, respectively.

Positive Outlook for Gold and Construction Materials: HSBC maintains a favorable long-term outlook for gold and construction materials, alongside Buy ratings for several mining companies.