HK Stock Market Move | Copper stocks show strong momentum. MMG (01208) is up over 9%, JIANGXI COPPER (00358) is up over 8%.
The trend of the copper industry stocks is strong. As of the time of writing, MMG Limited (01208) increased by 9.05% to 9.76 Hong Kong dollars, and Jiangxi Copper Corporation (00358) increased by 8.22% to 37.38 Hong Kong dollars.
The copper sector's performance is strong, as of the time of writing, MMG (01208) rose by 9.05% to 9.76 Hong Kong dollars; JIANGXI COPPER (00358) rose by 8.22% to 37.38 Hong Kong dollars; CHINFMINING (01258) rose by 8.16% to 15.5 Hong Kong dollars; CMOC Group Limited (03993) rose by 7.34% to 20.18 Hong Kong dollars.
On the news front, on Monday, LME copper rose to a one-week high as the peace agreement between the US and Iran eased concerns about global economic growth and boosted optimism about metal demand. CITIC SEC's research report pointed out that with the easing of macro pressure, as well as the realization of factors such as extreme weather, explosive growth in demand for grid equipment and AI, copper prices are expected to hit $15,000 per ton in the future. Based on the overlay of profit elasticity and valuation elasticity, the current configuration value of the copper sector is becoming more prominent.
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