HK Stock Market Move | CGN MINING (01164) rose nearly 9% at one point, with 14 global financial giants supporting nuclear energy. The development of nuclear power will support the demand for uranium mining.

CGN MINING (01164) rose nearly 9% at one point, rising by 6.21% as of press time to 1.24 Hong Kong dollars, with a turnover of 1995.74 million Hong Kong dollars. On the news front, according to media reports, 14 large banks and financial institutions worldwide will commit to increasing support for nuclear energy. Many governments and industries hope that this move can provide support for the financing of the latest wave of nuclear power plant construction. The 14 financial institutions reportedly include Bank of America, Barclays Bank, BNP Paribas, Citigroup, Morgan Stanley, and Goldman Sachs. In addition, Constellation Energy, an American energy company, plans to restart the Number 1 reactor at the Three Mile Island nuclear power plant to supply power to Microsoft to support the operation of Microsoft's Artificial Intelligence (AI) data center. Guosen previously pointed out that the development of nuclear power is strong, supporting the demand for uranium mines. With the recognition of the environmental value of nuclear power, it plays an important role in carbon neutrality, carbon peak path, energy security, and energy independence. As of June 30, 2024, there are 416 operational nuclear power units with a net installed capacity of 375GWe globally. There are 59 units under construction with a net installed capacity of 62GW, and 4 new units were put into operation in the first half of the year, including the Group's Fangchenggang No. 4 unit.