Movement Alert｜China Hongqiao Falls 3.1% in Regular Trading, Aluminum Sector Continues Weakness Amid Middle East Resumption Expectations and Buyback Support Fading

Market Focus06-26

On June 26, China Hongqiao fell 3.1% in regular trading, trading at HK$19.97 per share, with turnover of HK$215 million.

The aluminum sector continued its collective decline, with peer CHALCO down 2.97%, Chuangxin Industrial down 3.85%, and Nanshan Aluminium International down 2.18%, reflecting significant sector-wide downward pressure. Goldman Sachs previously downgraded CHALCO from neutral to sell, slashing its target price from HK$12.5 to HK$7.5, forecasting sustained aluminum price declines and spreading bearish sentiment across the industry.

Additionally, the company's approximately HK$3.079 billion share buyback program has been fully executed and cancelled, removing sustained buying support. Market capital continues rotating from commodities into AI-related technology sectors, further intensifying selling pressure on aluminum stocks. Middle East production resumption expectations have also weighed on supply disruption premiums previously supporting the sector.

(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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