HK Stock Market Move | CGN MINING (01164) rose by more than 3% again, Russia restricts the export of enriched uranium to the United States, which will boost uranium prices in the short term.

CGN MINING (01164) rose by over 3% again, with the stock closing nearly 8% higher yesterday. As of the time of writing, it has risen by 3.35%, to 1.85 Hong Kong dollars, with a trading volume of 1.43 billion Hong Kong dollars. In terms of news, on Friday, November 15, local time, the Russian government announced that it will temporarily restrict the export of enriched uranium to the United States. This move is in response to the United States' previous ban on importing Russian uranium. Russia is the world's largest supplier of uranium. According to data from the U.S. Department of Energy, Russia has approximately 44% of the world's uranium enrichment capacity, and about 35% of the U.S.'s nuclear fuel imports come from Russia. China Post Securities stated that with the temporary ban on the export of enriched uranium to the United States by the Russian government, uranium prices are expected to see a boost in the short term. Previously, the U.S. government passed a law prohibiting the import of Russian-produced low-enriched uranium, with exemptions provided for some nuclear power plants. The exemption policy is set to expire no later than January 1, 2028. It is reported that this decision was primarily made based on Putin's directives, with the aim of countering sanctions and responding to unfriendly actions by the United States. According to statistics, one-third of the enriched uranium used in the United States is imported from Russia. The HALEU program is in its early stages and it is difficult to fill the gap in enriched uranium, so uranium prices are expected to receive a boost in the short term.