HK Stock Market Move | Colored plates lead the decline, gold prices plummet, and silver experiences a tremendous daily shock. The sharp adjustment of precious metals drags down mining stocks.

Color plate fell first, as of press time, CHI SILVER GP (00815) fell 5.63% to 0.67 Hong Kong dollars; JIANGXI COPPER (00358) fell 2.82% to 38.54 Hong Kong dollars; Shandong Gold Mining (01787) fell 2.1% to 34.46 Hong Kong dollars; LINGBAO GOLD (03330) fell 1.76% to 17.84 Hong Kong dollars. On the news front, on Monday, silver quickly plunged after hitting a new high of $82 per ounce during the day and eventually closing down nearly 9%. Gold futures prices also fell about 4.5%, marking the largest decline in nearly two months. The declines in platinum and palladium were even more severe, with spot palladium plummeting over 15%. The "flash crash" of precious metals quickly dragged down related mining stocks. It is worth noting that the CME Group announced earlier that after the close on December 29, it will raise the margin for all metal futures trading, including gold and silver. The margin for gold futures will be increased by 10%, and silver futures will be increased by about 13.6%. This directly increases the cost for traders to hold positions, triggering a large number of profit-taking and forced liquidation. In addition, the Shanghai Futures Exchange recently stated that it has taken regulatory measures to limit opening positions for some clients.