Hong Kong Stock Market Update: CHI SILVER GP surged nearly 7%, with gold extending its gains and hitting a new record high.
CHI SILVER GP surged nearly 7%, as of the time of publication, it rose by 6.96% to HKD 0.12, with a turnover of HKD 2.96 million. On the news front, following the boost in rate cut expectations from the US non-farm payroll report, gold has expanded its gains and hit a record high. COMEX gold rose by 0.9% to USD 2,185.50 per ounce; COMEX silver fell by 0.1% to USD 24.5490 per ounce. CITIC Securities pointed out that there is a divergence in the rhythm of industrial metal prices and stock prices around the Spring Festival, with copper stock prices leading the copper price, while gold and aluminum stock prices lag behind the gold and aluminum prices. With the recovery of downstream consumption, the supply-demand gap of industrial metals will gradually become clearer. Coupled with the strengthened expectation of the Fed's rate cut in the mid-year, the momentum of industrial metal prices will be more obvious under the dual drivers of "financial attributes" and "commodity attributes", thereby solidifying the foundation for stock price growth and further opening up the space for stock price increase.
Zhitong App learned that CHI SILVER GP (00815) surged by nearly 7%, as of the time of publication, it rose by 6.96% to HKD 0.12, with a trading volume of HKD 2.96 million.
On the news front, following the boost in rate cut expectations from the US non-farm payroll report, gold has expanded its gains and hit a record high. COMEX gold rose by 0.9% to $2,185.50 per ounce; COMEX silver fell by 0.1% to $24.5490 per ounce.
CITIC Securities pointed out that before and after the Spring Festival, there has been a divergence in the price and stock trends of industrial metals. Copper stock prices have outperformed copper prices, while gold and aluminum stock prices have lagged behind gold and aluminum prices. With the recovery of downstream consumption, the supply and demand gap for industrial metals will gradually become clearer. Coupled with the strengthening expectation of the Fed's rate cut in the mid-year, the momentum of industrial metal prices will be more obvious under the dual drivers of "financial attributes" and "commodity attributes", thereby solidifying the foundation for stock price increases and further opening up the upside space for stock prices.