HK Stock Market Move | Copper stocks collectively rise, with interest rate cuts favoring copper or a slight advantage. Copper prices are short-term fluctuating and slightly strong.

The copper industry stocks collectively rose. As of the time of reporting: CHINFMINING(01258) rose by 6.34% to 6.04 Hong Kong dollars; MMG(01208) rose by 5.24% to 2.61 Hong Kong dollars; JIANGXI COPPER(00358) rose by 3.44% to 14.42 Hong Kong dollars; CHINAGOLDINTL(02099) rose by 3.01% to 35.95 Hong Kong dollars. On the news front, overnight London copper hit a bottom and rebounded slightly, closing at 9542 US dollars. Shanghai copper night trading fluctuated at a high level and closed with a small increase at 75640. Holly Futures stated that Shanghai copper turnover has decreased while holding positions remain stable, with market sentiment leaning towards caution. The Federal Reserve has begun cutting interest rates, and the People's Bank of China is gradually following suit, with slightly improving macroeconomic fundamentals. Recently, London copper inventories have fallen slightly, Shanghai copper inventories have significantly decreased, and global copper inventories have dropped from their peak. Shanghai copper is expected to continue its short-term rebound, but the likelihood of a sharp rise is low, with the medium-term fundamentals leaning towards neutral. Attention is being paid to changes in demand and inventory. CITIC SEC believes that macroeconomic, supply-demand, and trading factors have dominated copper price fluctuations since 2024. Compared to the start of the previous copper price boom cycle in March, the potential impact of various factors on copper prices is more positive and clear. The Federal Reserve's initiation of an interest rate cutting cycle, historical data confirming the preventive rate cuts amid the backdrop of the resilience of the US economy will help boost copper prices. Huatai Futures pointed out that the Federal Reserve has completed a 50 basis point interest rate cut, which basically meets market expectations. The interest rate cutting cycle may be favorable for the copper category, coupled with the current destocking situation in the domestic market.