Movement Alert｜Jiaxin International Resources Falls 5.05% in Regular Trading, Profit-Taking Follows Previous Session Surge of Over 21%

Market Focus06-23

On June 23, Jiaxin International Resources fell 5.05% in regular trading, trading at 76.0 HKD/share, with turnover of approximately 48.43 million HKD.

On the news front, the Diversified Metals and Mining sector came under broad selling pressure, with sector peers including CMOC down 3.35%, Ximei Resources down 4.98%, and MMG down 2.3%. The stock surged over 21% in the prior trading session, driven by the formal implementation of the Mineral Resources Law Implementation Regulations on June 15 that designated tungsten as one of 36 national strategic minerals, PCB expansion boosting tungsten rod demand, and institutional forecasts of a 2.3-million-ton global tungsten supply-demand gap. The concentrated short-term gains triggered significant profit-taking pressure.

Jiaxin International Resources is an investment holding company principally engaged in tungsten mining, focusing on the exploration, development, and extraction of the Bakuta tungsten mine in Kazakhstan.

(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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