Hong Kong Stock Market News: Luoyang Molybdenum (03993.HK) soared nearly 5% in morning trading to hit a new high. Bank of America Merrill Lynch said that the surge in cobalt prices offset the impact of the extension of the cobalt export ban.

According to the Wisdom Finance APP, Luoyang Molybdenum Co., Ltd. (03993.HK) rose nearly 5% in early trading, reaching a high of 8.38 Hong Kong dollars, a record high. As of the time of publication, it has risen by 3.63% to 8.27 Hong Kong dollars, with a trading volume of 307 million Hong Kong dollars.