HK Stock Market Move | Jiaxin International Resources (03858) rose more than 4%, with the tungsten market reaching record highs against the trend. Institutions are optimistic about the company's valuation restructuring.

Jiaxin Intl Res (03858) rose more than 4%, as of the time of writing, up 4.48% at 78.2 Hong Kong dollars, with a turnover of 64.246 million Hong Kong dollars. On the news front, according to Zhongtung Online News, in the recent global precious metals and base metals market trended lower, the tungsten market has remained strong against the trend. As of the time of writing, the price of 65% black tungsten concentrate is 632,000 yuan per metric ton, up 37.4% from the beginning of the year; the price of ammonium paratungstate (APT) is 940,000 yuan per ton, up 40.3% from the beginning of the year. First Shanghai previously believed that the company's scarce tungsten mineral resources are opening up commercialization, with a valuation restructuring on the horizon. The bank pointed out that the company is at a critical value release inflection point and has world-class core assets, laying the foundation for long-term growth.