Movement Alert｜Zijin Mining Falls 3.27% in Regular Trading, Gold Sector Extends Correction Under Broad Selling Pressure

Market Focus06-04 09:40

On June 4, Zijin Mining fell 3.27% in regular trading, trading at 32.98 HKD/share, with trading volume of 222 million HKD.

On the news front, the gold sector continued its profit-taking trajectory, with sector-wide weakness persisting after gold prices had surged on earlier geopolitical events. The market has been digesting prior gains, with selling pressure yet to be fully released. Zijin Mining had already undergone multiple consecutive days of adjustment, with capital flows remaining in net outflow status and a bearish technical pattern intact. Peers across the sector declined in tandem, with China Gold International down 3.8%, SD Gold down 2.7%, Lingbao Gold down 2.63%, Zhaojin Mining down 2.43%, and Zijin Gold International down 1.84%.

Although S&P recently confirmed the company's BBB credit rating and upgraded its outlook to positive, the short-term market remains dominated by technical correction. Since its historical secondary high, the stock has experienced a cumulative drawdown exceeding 30%, with institutional capital continuing to flow out despite unanimous buy ratings from 16 out of 21 covering brokerages.

(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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