Movement Alert｜CHINFMINING falls 7.67% in Regular Trading, copper sector pressured by renewed US rate-hike expectations

On October 15, CHINFMINING fell 7.67% in Regular Trading, trading at HK$13.84, with turnover of HK$181 million.

The move aligned with broad weakness in copper and nonferrous metals shares after market reports indicated US September core CPI came in above expectations, prompting traders to raise bets on another Federal Reserve rate hike. A stronger US dollar and higher Treasury yields then pressured metal prices and related equities.

Recent company disclosures had remained fundamentally solid rather than negative: first-half revenue rose 29.1% to US$2.261 billion, attributable profit increased 64.7% to US$434 million, gross margin climbed to about 42%, operating cash flow reached about US$1.04 billion, and the company also completed a US$300 million zero-coupon convertible bond issue to fund the Zambia 28 shaft project. That suggests the latest drop was more consistent with an industry and macro-driven selloff than with new company-specific bad news.

(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.)