HK Stock Market Move | Gold stocks fluctuate and rise CHINAGOLDINTL (02099) surged over 13% after earnings LINGBAO GOLD (03330) rose over 5%

Gold stocks have experienced a steady increase. As of the time of this report, CHINAGOLDINTL (02099) rose by 13.35%, reaching HKD 212.20; LINGBAO GOLD (03330) increased by 5.16%, reaching HKD 21.62; Chifeng Jilong Gold Mining (06693) went up by 2.35%, reaching HKD 37.48; and Zijin Mining Group (02899) saw a rise of 1.68%, reaching HKD 35.04. In terms of news, CHINAGOLDINTL announced that its sales revenue in the first half of this year was USD 914.2 million, a year-on-year increase of 57.5%; operating profit from mining reached USD 620 million, a 124% increase; and profit attributable to company owners was approximately USD 507 million, a 153.31% increase. In the second quarter, sales revenue was USD 461 million, growing by 50% year-on-year, while net profit was USD 275.8 million, marking a 137% year-on-year increase. The company's Chairman, Hou Chengguang, stated in the performance report that this is the company's best quarter and first half in history. Additionally, the latest data released by the U.S. Bureau of Labor Statistics shows that the July PPI increase was below market expectations. Coupled with the cooling CPI data released the previous day, inflationary pressures have eased further, leading to a continued reduction in market expectations for Federal Reserve interest rate hikes. Everbright Futures believes that the likelihood of a rate hike in September, or even within the year, is decreasing, but gold prices have fallen instead of rising. This may be partly due to profit-taking after positive developments, and partly related to liquidity fears triggered by expectations of rate hikes from the Japanese central bank. However, overall, the decline in expectations for Fed rate hikes in September may still maintain a high level of volatility in the market.