HK Stock Market Move | Copper industry stocks collectively rebound, market betting on Fed rate cut heating up, copper prices before the holiday may fluctuate on the strong side.

The copper industry collectively rebounded, as of the time of the report, CHINFMINING (01258) rose 4.91% to 5.34 Hong Kong dollars; MMG (01208) rose 3.79% to 2.74 Hong Kong dollars; Zijin Mining Group (02899) rose 3.59% to 15 Hong Kong dollars; JIANGXI COPPER (00358) rose 3.03% to 12.92 Hong Kong dollars. On the news front, according to data released by the U.S. Bureau of Labor Statistics on January 15, the U.S. CPI rose 2.9% year-on-year in December 2024, in line with market expectations and unchanged from the previous value of 2.7%; core CPI rose 3.2% year-on-year, lower than market expectations of 3.3% and the previous value of 3.3%. The year-on-year increase in U.S. CPI continued to rebound in December 2024, but the year-on-year increase in core CPI fell. The U.S. dollar index fell in response to the data release. Guangda Futures pointed out that although U.S. inflation has warmed up, the Federal Reserve is more concerned about the cooling of core inflation, leading to a rising market expectation for a Fed rate cut. The market expects that uncertainties will gradually disappear after Trump takes office, and the impact of inflation may gradually signal a progressive imposition of tariffs. Therefore, the market has a generally optimistic view, with copper prices expected to be relatively strong before the holiday. However, the magnitude of the increase is still expected to be limited, and overall, it is not expected to break free from the range of fluctuations since December last year.