Movement Alert｜Jiaxin International Resources Falls 5.24% in Regular Trading, Sector Weakness Combined with Short-Term Profit-Taking Pressure

Market Focus06-16

On June 16, Jiaxin International Resources fell 5.24% in regular trading, trading at HK$83.7/share, with turnover of HK$18.75 million.

On the news front, the Diversified Metals & Mining sector came under broad-based selling pressure, with MMG down 8.32%, Ximei Resources down 2.61%, Wanguo Gold Group down 1.26%, Lygend Resource down 0.67%, and CMOC down 0.4%, reflecting significant industry-wide selling.

The stock had previously rallied sharply from a late-May low near HK$76.6 to a high of HK$93.65, driven by multiple tailwinds including tungsten price stabilization signals, a non-binding MOU with PMF to explore mineral resource development in Kazakhstan covering copper-gold, polymetallic, and tungsten-molybdenum deposits, as well as institutional calls to reassess the tungsten sector strategically. The concentrated short-term gains have resulted in sustained profit-taking pressure. Current valuation remains elevated with a trailing P/E exceeding 130x and P/B above 25x, amplifying the market's need to digest prior advances.

(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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