HK Stock Market Move | JIAXIN INTL RES (03858) surged over 4% to hit a new high, with the tungsten market facing tight supply and demand. Tungsten prices are expected to steadily rise.

JIAXIN INTL RES (03858) rose more than 4%, hitting a new high in the market. As of the time of this report, it rose by 2.03% to 87.8 Hong Kong dollars, with a trading volume of 3504.04 million Hong Kong dollars. On the news front, on January 26, data released by Zhongwu Online showed that the price of tungsten concentrate approached 550,000 yuan per ton, the price of ammonium paratungstate reached 800,000 yuan per ton, and the price of tungsten powder broke through the 1.3 million yuan per ton mark. Sinolink released a research report stating that due to the absence of indicators and the clearance of waste tungsten before the holiday, tungsten supply remains tight, and prices are forming stronger support. Recently, American lawmakers from both parties proposed setting up a "Strategic Resilience Reserve" with a scale of $25 billion; we believe that with the background of increasing strategic reserves overseas, the priority of tungsten may be higher. FIRST SHANGHAI stated that the company is a scarce target in the market for pure tungsten mines, and the current stock price has a very high safety margin and attractiveness. Zhongjin Research Report stated that the company focuses on the operation of the Bakutung Tungsten Mine in Kazakhstan and is optimistic about the company. Reasons include the possibility of the global tungsten supply-demand pattern remaining tight, and the tungsten price center is expected to steadily rise; the four core advantages are expected to make the company a highly competitive mining leader in the Central Asian region internationally.