Movement Alert｜Jiaxin International Resources Falls 5.63% in Regular Trading, Metals Sector Under Pressure as Post-Rally Profit-Taking Continues

Market Focus06-24

On June 24, Jiaxin International Resources fell 5.63% in regular trading, trading at 68.6 HKD/share, with turnover of approximately 35.66 million HKD. The decline marks the second consecutive trading day of over 5% losses following the stock's sharp 21.84% surge on June 22.

On the news front, the Diversified Metals and Mining sector came under broad selling pressure, with CMOC down 1.62%, MMG down 1.18%, Wanguo Gold Group down 2.53%, and Lygend Resources down 2.54%. The sector-wide weakness compounded existing profit-taking momentum in Jiaxin International Resources.

The stock had previously rallied sharply on June 22, driven by the implementation of the Mineral Resources Law Implementation Regulations which designated tungsten among 36 strategic minerals subject to tightened extraction quotas and export controls, alongside PCB expansion boosting tungsten rod demand and institutional bullishness on tungsten price trajectory. Following that surge, concentrated short-term profit-taking has driven consecutive selloffs, with 258,800 shares sold short on June 23 alone, accounting for 5.66% of total turnover.

(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.

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