Source: Finance Association
① The rise in non-ferrous metals stocks was stimulated by what news? ② Why is China Alcoa International leading the way in its sector?
In early trading today, a piece of news shook the Hong Kong stock market, putting pressure on the overall trend. As of press release, the Hang Seng Index and the Technology Index were down 1.45% and 2.85% respectively. Non-ferrous metals stocks, on the other hand, bucked the trend. Among them, China Alcoa International and Zhaojin Mining led the market. As of press release,$CHALIECO (02068.HK)$An increase of nearly 14%,$ZHAOJIN MINING (01818.HK)$An increase of nearly 2%,$ZIJIN MINING (02899.HK)$,$SD GOLD (01787.HK)$Slight increase.
In terms of news, according to an American Broadcasting Corporation report on the 19th, an American official confirmed to the media that an Israeli missile hit a target in Iran. According to a report by Israel's “Jerusalem Post” earlier on the 19th, explosions were heard in Iran's Isfahan region, southern Syria's Suwayda province, Iraq's Baghdad region, and Babylon province.
Stimulated by this news, international crude oil prices and gold both rose. As of press release, COMEX gold and WTI crude oil rose 1.21% and 3.67% respectively to $2426.7 and $85.13.
In addition to being stimulated by external news, the market continues to pay attention to recent trends in resource stocks. Some agencies pointed out that as the economy gradually recovers and the global inventory cycle enters the recovery phase, resource sectors such as mining and non-ferrous metals may receive market attention. Expectations of interest rate cuts and economic recovery have a good driving force for the resource sector in terms of demand and prices.
China Alcoa International once rose more than 20% in the market
Judging from the intraday performance, China Alcoa International led the sector, and at one point the intraday increase was over 20%.
China Alcoa International announced its first quarter results yesterday evening, with operating revenue of 4.985 billion yuan, up 15.77% year on year; achieving net profit attributable to shareholders of listed companies of 104 million yuan, an increase of 33.43 times year on year; net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was 73 million yuan, an increase of 78 million yuan year on year.
Regarding the increase in performance, the company stated in the announcement that it will focus on new quality productivity, strengthen scientific and technological innovation, accelerate reform and transformation, further increase the gross profit and profit contribution of the engineering survey, design and consulting business sector, and increase net profit dramatically.
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