HK Stock Market Move | Copper stocks lead the decline, with Jiangxi Copper (00358) falling more than 6% and MMG (01208) falling nearly 5%.

The copper industry stocks led the decline, as of the time of publication, JIANGXI COPPER (00358) fell by 6.33% to 32.84 Hong Kong dollars; MMG (01208) fell by 4.99% to 6.85 Hong Kong dollars; CHINFMINING (01258) fell by 3.93% to 13.95 Hong Kong dollars; CMOC Group Limited (03993) fell by 2.41% to 16.63 Hong Kong dollars. On the news front, on October 28, LME copper prices fell by 1%, now at 10,918.5 US dollars per ton. Guotai Junan Futures believes that with the easing of geopolitical tensions between Russia and Ukraine, progress in China-US trade negotiations, and the proposal of the 15th Five-Year Plan domestically, all suggest a good start for the global economy next year. Under the potential and sustained impact of the Indonesian mining incident, the copper supply and demand balance may be under pressure. The latest forecast from ICSG shows that refined copper may face a certain shortage by 2026. However, market divergences also exist, with the significant growth in domestic copper demand in the first three quarters of the year not necessarily translating into big demand pressures in the fourth quarter, even facing a potential slowdown, leading to a contradiction between expectations and reality affecting the sustainability of price uptrend. It is worth noting that JIANGXI COPPER will hold a board meeting today to consider and approve the announcement of the third quarter performance of the company and its subsidiaries for the nine months ended on September 30, 2025.