Independent stock analyst Guo Jiayao said that the performance of US stocks was good on Tuesday (2nd), and Federal Reserve Chairman Powell said that suppressing inflation has made progress, but more evidence is needed to support rate cuts. All three major indices recorded gains and closed. The US dollar trend fell back, and the yield on the 10-year Treasury bond in the United States fell back to the level of 4.43 basis points. The gold price performed well, while the oil price fell slightly. Pre-funded securities in the Hong Kong stock market generally rose, and it is expected that the market will follow the high opening in the early stage.
Individual developments in the mainland stock market yesterday, the Shanghai Composite Index opened low and rose, closing up 0.1%, and the turnover of the Shanghai and Shenzhen stock markets remained light.
The Hong Kong stock market was stable yesterday, and the index fought for a level below 18,000 points, and the market turnover increased slightly. Capital continues to flow into the special estimate, indicating that market sentiment is still cautious, and it is expected that the index will hover around the level of 17,500 to 18,200 points.
Jiangxi Copper (00358.HK) recently announced its first-quarter results. Under Chinese accounting standards, it achieved revenue of RMB 122.5 billion, a 4.1% year-on-year decrease. Net profit was RMB 1.715 billion, a 2.3% decline, but a 9.8% increase from the previous quarter. The performance improved quarterly, mainly benefiting from the rise in copper prices during the period. The price of copper at the London Metal Exchange has accumulated more than 10% since the beginning of the year, and even reached a level of $10,000 at one point. The market believes that the supply and demand structure of the copper concentrate market, the recovery of major global manufacturing economies, and the upcoming interest rate cuts by the Federal Reserve are all beneficial to the future performance of copper prices. Investment in artificial intelligence related projects has increased significantly, and a large number of data centers have been built, which significantly increases the demand for electricity. Copper is widely used in key components such as wires and heat sinks, driving copper prices into a structural upward cycle. The market expects that copper prices will stabilize at $10,000 per ton by the end of this year, and may even reach a new high of $12,000 in 2026. It is expected that the performance of Jiang Copper will benefit from the upward trend of copper prices, driving upward valuation.
(I and related parties do not hold the above shares). ~