HK Stock Market Move | CGN MINING (01164) up over 7% US seeking to expand strategic uranium reserves Institutions say uranium prices are expected to rise

CGN MINING (01164) rose by more than 7%, as of the time of writing, it rose by 7.55% to 2.85 Hong Kong dollars, with a turnover of 1.34 billion Hong Kong dollars. On the news front, according to a report from Financial Alliance, on Monday local time, US Energy Secretary Chris Wright said that the United States should consider expanding its strategic uranium reserves to reduce dependence on Russian supplies and strengthen confidence in the long-term prospects of nuclear power. Zheshang research report pointed out that the global trend of nuclear power recovery has not changed, and the tight supply and demand situation in the natural uranium market has not eased. Spot uranium prices are expected to continue to rise, and there is optimism for a breakthrough. The bank believes that as the professional uranium resource development and operation platform under China General Nuclear Power Group, the company is expected to continuously enrich its resource portfolio with the expansion of the group's nuclear power installed capacity, and will continue to grow during this round of natural uranium price increase cycle.