China's major A-share indices displayed slight divergence in today's trading session. As of the midday close, the Shanghai Composite Index rose by 0.12% to 4,141.01 points, while the Shenzhen Component Index fell 0.74% to 14,332.86 points. The ChiNext Index dropped 0.86% to 3,320.81 points, the STAR 50 Index declined 1% to 1,538.21 points, and the Beijing Stock Exchange 50 Index decreased by 0.97% to 1,573.21 points.
On the liquidity front, the central bank conducted a 7-day reverse repurchase operation totaling 150.5 billion yuan, maintaining the operation rate at 1.4%, unchanged from previous levels.
In market news, Hong Kong Special Administrative Region Chief Executive John Lee, speaking at the Asian Financial Forum 2026, announced that Hong Kong plans to increase its gold storage capacity to 2,000 metric tons over the next three years, aiming to establish a regional gold reserve hub. Lee emphasized that Hong Kong will develop a Central Gold Clearing System to provide efficient and reliable clearing services meeting international standards for various transactions. Concurrently, Hong Kong will expand gold investment channels and establish a commodity trading organization. It is reported that this government-led Central Gold Clearing System is scheduled to commence trial operations within the year.
According to IDC's "China IT Security Market Forecast, 2025-2029," China's cybersecurity market continues to demonstrate robust growth, driven by strengthened policies and regulations, increased corporate security investment willingness, and accelerated adoption of new technologies. IDC projects the overall market size to exceed 80 billion yuan by 2026, with a compound annual growth rate of 8.9% from 2024 to 2029. Cybersecurity has become an indispensable foundational capability for the development of the digital economy.
Sector performance was mixed. Precious metals, mining, jewelry, insurance, scarce resources, non-ferrous metals, and the oil sector led the gains. In contrast, space station concepts, BeiDou navigation, satellite internet, 6G concepts, sapphire, and robot actuators underperformed, leading the market decline.
Mixed US economic data has tempered market expectations for a Federal Reserve rate cut in January. Ongoing geopolitical tensions are expected to provide support for gold prices. From a long-term perspective, central bank gold purchases, the weakening global status of the US dollar, and the trend of "de-globalization" in the world economy and politics are anticipated to continuously enhance gold's appeal.
The following provides brief profiles of four companies, compiled from the latest research reports of several securities firms, for reference purposes only.
1. Hunan Gold Corporation Limited (002155) The company has established itself as a leading resource enterprise driven by a dual-focus strategy on "Gold + Antimony." As the largest domestic producer of antimony, the company benefits from high resource scarcity. Regarding gold, the upcoming completion of the Jianan mining area project at Gansu Jiaxin is expected to provide significant incremental growth in gold mining output. With both gold and antimony prices on an upward trend, the company's future performance is poised for substantial realization. — Guoyuan Securities
2. Zhaojin International Gold Co.,Ltd. (000506) The sustained rise in gold prices provides a favorable external environment for the company and lays the foundation for capacity expansion and highly elastic growth. Looking ahead, with industrial empowerment from the Zhaojin Group, the company is expected to achieve rapid growth in gold production over the next 2-3 years through internal technological upgrades and external mergers and acquisitions. — Founder Securities
3. Shandong Humon Smelting Co.,Ltd. (002237) The company stands to benefit from the upward trend in gold prices. Furthermore, the expansion and imminent operational commencement of the Liaoshang Gold Mine, which will have an ore processing capacity of 900,000 tons per year, is expected to significantly boost the company's mineral gold production. — Huatai Securities
4. Shengda Resources Co.,Ltd. (000603) In recent years, the company has prioritized the acquisition of high-quality primary mineral resource projects focused on silver, gold, and other precious metals. These quality resources are expected to facilitate the release of earnings potential. — Huaan Securities
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