On September 18, ZHAOJIN MINING fell 3.08% in regular trading, trading at 19.83 HKD/share, with turnover of HKD 159 million, extending the prior session's sharp selloff driven by the U.S. Federal Reserve's rate decision.
On the news front, the Fed announced a 25-basis-point rate hike in the early hours of September 17, lifting the federal funds rate to 3.75%–4.00% — its first increase since July 2023. The decision was unanimous at 12-0. More critically, the dot plot revealed that 12 of 18 officials projected cumulative hikes of 50 basis points this year, signaling at least one more hike ahead — a stance more hawkish than the market had anticipated. The 10-year U.S. Treasury yield hovered near the 5% mark, its highest since 2007, while the dollar index strengthened, significantly raising the opportunity cost of holding non-yielding gold. Spot gold briefly broke below $4,300/oz before partially recovering.
Within the Gold sector, performance was mixed. Among peers, SD GOLD fell 2.92%, LINGBAO GOLD fell 1.25%, while CHINAGOLDINTL rose 1.13%, ZIJIN GOLD INTL rose 0.71%, and TONGGUAN GOLD rose 3.11%.
(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.)
Comments