Movement Alert|ZIJIN MINING Falls 3.12% in Regular Trading, Middle East Tensions and Fed Rate Hike Expectations Weigh on Metals Sector

Market Focus
Sep 15

On September 15, ZIJIN MINING fell 3.12% in regular trading, trading at 33.58 HKD/share, with turnover of 744 million HKD. The decline was driven by a confluence of Middle East geopolitical tensions and rising Federal Reserve rate hike expectations pressuring the broader metals sector.

Elevated oil prices have reinforced inflation expectations, further consolidating the Fed's hawkish stance. CME FedWatch data shows the probability of a 25-basis-point rate hike in September has climbed to 87.3%, lifting both the US dollar and Treasury yields, which directly suppresses USD-denominated metal assets. This follows a broader trend of precious metals weakness, with gold prices having previously fallen below the $4,500/oz level after the Fed chair reiterated a firm 2% inflation target at the Jackson Hole symposium in late August.

Additionally, on September 14, ZIJIN MINING recorded a block trade of 24.0045 million yuan at a nearly 10% discount to the closing price, signaling selective institutional exits. Within the Diversified Metals & Mining sector, weakness was broad-based, with MMG down 2.03%, CMOC down 1.86%, and XIMEI RESOURCES down 3.8%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10