HK Stock Market Move | CGN MINING (01164) opened more than 5% higher. Google and Constellation Energy reached an 890-megawatt nuclear power capacity agreement.

CGN MINING (01164) opened more than 5% higher. As of press time, it was up 5.23% at HK$2.215, with a turnover of HK$1.5948 million. On the news front, Google parent Alphabet agreed to buy nuclear power from Constellation Energy, an agreement that will drive the addition of 890 megawatts of reactor capacity, a move interpreted by the market as a continuation of the tech giant's AI infrastructure capital expenditure narrative. In addition, the U.S. Department of Energy made a conditional loan commitment of up to US$4.2 billion to Vistra to upgrade three nuclear power facilities, with plans to add 433 megawatts of generating capacity and maintain nearly 4 gigawatts of baseload power supply. Guotai Haitong previously said that, benefiting from the acceleration of nuclear power construction and tight upstream mineral supply, natural uranium prices continue to rise. As a natural uranium production and trading company backed by a nuclear power enterprise, CGN MINING is expected to fully benefit from the rise in natural uranium prices. With the company's 2026 long-term agreement benchmark price adjustment, full-year earnings growth is expected.