HK Stock Market Move | JIAXIN INTL RES(03858) rises more than 8% to reach a new high, tungsten ore prices surpass the one million mark, the company has entered the Hong Kong stock connect.

JIAXIN INTL RES (03858) rose more than 8%, reaching a high of 153 Hong Kong dollars, setting a new record high for the company. As of the time of this report, it has risen 8.49% to 152.1 Hong Kong dollars, with a trading volume of 1.317 billion Hong Kong dollars. On the news front, according to data from Zhongtung Online, as of March 10th, the price of tungsten concentrates has exceeded the million yuan level when calculated in RMB per ton, ammonium paratungstate prices have risen to 1.45 million yuan, and tungsten powder prices have reached a high of 2.3 million yuan. Since 2016, the price of tungsten has increased by more than 110%, with a cumulative increase of about 600% since early 2015. In addition, on March 9th, JIAXIN INTL RES was officially included in the Hong Kong Stock Connect list. A previous research report by FIRST SHANGHAI pointed out that the company is currently at a key turning point for value release, and possesses world-class core assets, with its resource endowment laying the foundation for long-term growth. The company is a scarce target for pure tungsten mines in the market, and its current stock price has a very high safety margin and attractiveness.