Hong Kong stock market movement: Shandong Gold Mining Co., Ltd. (01787) dropped more than 5% in early trading. As of press time, the stock was down 4.63% at HK$19.76, with a turnover of HK$20.695 million.
On the news front, Shandong Gold Mining Co., Ltd. announced that it is adjusting its 2026 production and operation plan, revising its mineral gold output target from no less than 49 tonnes to 36-38 tonnes. The reasons for the adjustment include safety self-inspections following industry safety accidents in the first half of the year, which affected output, as well as increased efforts in domestic mine infrastructure construction in the second half.
The company's mineral gold output in 2025 was 48.89 tonnes, and production in 2026 is expected to decline by 11-13 tonnes year-on-year, which will affect net profit. Orient Jin Cheng recently released a research report stating that the hawkish signals from the Federal Reserve's September meeting are still reverberating — the median dot plot points to one more rate hike within the year, and the SEP shows stronger economic growth, higher inflation, and a lower unemployment rate. Market expectations for another rate hike within the year are rising, and the U.S. dollar index remains strong, which will continue to weigh on gold prices.
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