HK Stock Market Move | JIAXIN INTL RES (03858) rose more than 6% in early trading. Geopolitical risks bring elasticity to tungsten prices, and there is a possibility of another increase in the tungsten price center.

JIAXIN INTL RES (03858) rose over 6% in early trading, with a current increase of 6.24%, priced at HKD 58.75, and a trading volume of HKD 134 million. In terms of news, JIAXIN INTL RES previously announced a positive profit forecast, expecting the net profit attributable to equity holders in the first half of 2026 to be approximately HKD 1.45 billion to HKD 1.55 billion, significantly recovering from losses due to the fact that commercial production began only less than two months in the same period last year; the average selling price of tungsten concentrates has risen sharply during this period. The company recently announced a plan to utilize up to HKD 200 million for a share buyback in the second half of the year. Wenmin Securities pointed out that rising geopolitical risks are bringing volatility to tungsten prices. The core characteristics of the tungsten market in the short term are a recovery in domestic demand, a shortage in external supply, and cautious downstream procurement. The domestic supply and demand continue to show a weak balance, but if the geopolitical situation deteriorates further, the correlated demand for global military and strategic reserves may lead to an increase in tungsten price levels again.