HK Stock Market Move | Copper stocks collectively fell, the divergence in opinions on interest rate cuts by the Federal Reserve has widened again, and copper prices may face a period of high-level volatility adjustment.

The copper industry as a whole fell back, as of the time of publication, JIANGXI COPPER (00358) fell by 5.74% to HK$36.48; CHINAGOLDINTL (02099) fell by 5.6% to HK$159.5; MMG (01208) fell by 5.4% to HK$8.23; CHINFMINING (01258) fell by 2.12% to HK$13.4. Guosen Futures research report pointed out that the Federal Reserve announced the April interest rate decision, maintaining the federal fund rate target range of 3.50%3.75% unchanged with a rare 8:4 vote result for the third consecutive time. The statement kept potential easing language, carefully evaluating the latest information when considering the "further" adjustment of interest rates. The Middle East situation has led to increased uncertainty in economic prospects, describing inflation as "high" compared to "slightly high" previously. There has been no significant progress in the Middle East situation, and the Fed's rate cut expectations are unclear, with the domestic market being cautious ahead of the May Day holiday, and it is expected that copper prices will fluctuate at high levels. Guangda Futures believes that the Federal Reserve's interest rate meeting last night continued to stay put, but internal divisions within the Federal Reserve have increased. At the macro level, the direction of the US-Iran conflict remains the biggest variable, with negotiations at a standstill, adding uncertainty during the holiday season, causing the market to be cautious. On the fundamental side, historic record low TC quotations for domestic copper mines and the potential shortage crisis of sulfuric acid abroad have disturbed the copper supply side, which has become a strong support factor for prices. This trading day is the last trading day before the May Day holiday, and macro uncertainties remain the primary consideration.