HK Stock Market Move | Jiaxin International Resources (03858) rose nearly 7% in the afternoon, with the weakening momentum of tungsten prices rebounding and the market beginning to show tentative signs of increasing.

JIAXIN INTL RES (03858) rose nearly 7% in the afternoon, rising 5.61% as of the press release, at 86.6 Hong Kong dollars, with a turnover of 257 million Hong Kong dollars. On the news front, since the outbreak of the Middle East conflict at the end of February, the United States' inventory of advanced weapons and ammunition is rapidly depleting, and the United States is accelerating the rebuilding of the tungsten supply chain. According to Chinatungsten Online, the downward momentum of tungsten prices at the end of the month has weakened, and the market is beginning to see tentative price hikes, with the sentiment of supporting prices in various parts of the industrial chain heating up. As of May 29, domestic tungsten prices reached 41,600 yuan/ton, showing signs of stabilization and rebound. CICC released a research report stating that considering the increasing demand for tungsten and its strategic importance, the tight supply situation remains unchanged, and domestic tungsten prices are expected to stabilize and rebound after a sharp decline in the short term, with the attractiveness of global leaders in the tungsten industry becoming increasingly prominent. On the supply side, domestic tungsten supply remains relatively tight, with Kazakhstan and South Korea abroad potentially contributing to supply increments, while uncertainty in European increments increases. On the inventory side, domestic tungsten inventories increased on a month-on-month basis in the first quarter of 26 but by a limited amount, and overseas restocking demand remains urgent.