HK Stock Market Move | The Mynuclear Uranium Enrichment Plant announced a substantial expansion, leading to a more than 7% increase in the stock prices of CNNC INT'L (02302) and CGN MINING (01164).

Nuclear power stocks rose in the morning session, with CNNC INT'L (02302) up 7.84% at HK$4.95 and CGN MINING (01164) up 7.32% at HK$3.52 as of the time of writing. On the news front, US uranium mining stocks surged overnight, with Ur-Energy rising over 22% and Cameco up over 7%. According to reports, Urenco USA, the only commercial uranium enrichment company currently in production in the US, announced on Tuesday that it will invest "billions of dollars" to increase its existing low-enriched uranium (LEU) production capacity by 50%. The plant, with a current annual capacity of 4.3 million SWU, can only supply about one-third of the US demand. The booming demand for electricity in AI data centers is driving the resurgence of the nuclear energy industry. The Trump administration is pushing for a fourfold increase in domestic nuclear power plant capacity, which will require a massive increase in uranium fuel production. Huayuan Securities stated that with the rigid growth in AI electricity demand, nuclear power and uranium are upgrading from "alternative energy sources" to "strategic necessities," and their long-term pricing power, cash flow stability, and capital attractiveness are expected to be systematically raised.