Movement Alert|CMOC Falls 3.36% in Regular Trading, Fed Rate Hike Expectations Continue to Pressure Non-Ferrous Metals Sector

Market Focus
Jun 09

On June 9, CMOC (03993.HK) fell 3.36% in regular trading, trading at HKD 16.33/share, with trading volume of HKD 127 million. The stock has now declined over 13% cumulatively across three consecutive trading sessions.

On the news front, the US May non-farm payrolls surged to 172,000, far exceeding the market expectation of 85,000, while energy price increases continued to push inflation higher. The most hawkish Fed voting member Hamack explicitly stated it may soon be appropriate to take action on rate hikes, reinforcing tightening expectations and sustaining selling pressure on metals.

Within the Diversified Metals and Mining sector, weakness persisted broadly. Among individual stocks, MMG fell 4.08%, Wanguo Gold Group fell 2.84%, Jiaxin International Resources fell 1.61%, and Ximei Resources fell 0.55%, while Lygend Resources rose 0.31%. The sector-wide linkage effect remained pronounced as a stronger US dollar and rising real yields weighed on commodity-linked equities.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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