Movement Alert｜Shandong Gold Rises 3.14% in Regular Trading, Gold Sector Broadly Rebounds After Recent Sharp Declines

Market Focus06-12

On June 12, Shandong Gold rose 3.14% in regular trading, trading at HKD 21.72, with turnover of HKD 58.10 million. On the news front, the gold sector staged a broad recovery after consecutive sessions of heavy selling, with the stock rebounding from its recent steep decline driven by falling international gold prices and a company-specific negative announcement.

The stock had previously fallen sharply over multiple sessions as spot gold broke below USD 4,300/oz amid stronger-than-expected U.S. May non-farm payrolls data of 172,000 new jobs, which prompted Goldman Sachs to abandon its forecast for Fed rate cuts this year and fueled rate hike expectations. Additionally, the company announced that its wholly-owned subsidiary Shanjin Financial Holdings plans to sell a 14.13% stake in Donghai Securities to Soochow Securities, recognizing approximately RMB 705 million in fair value losses on its entire 18.71% holding, directly reducing current-period profit.

Within the Gold sector, peers showed broad gains, with Zijin Mining up 5.57%, Lingbao Gold up 7.60%, Chifeng Gold up 6.39%, Zhaojin Mining up 4.58%, and Zijin Gold International up 3.03%.

(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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