Movement Alert｜Jiaxin International Resources Intraday Decline 9.49%, Sector-Wide Weakness Compounds Profit-Taking Pressure After Sharp Rally

Market Focus06-08

On June 8, Jiaxin International Resources fell 9.49% in regular trading, trading at 82.25 HKD/share, with trading volume of 65.35 million HKD.

On the news front, the diversified metals and mining sector came under broad selling pressure. Within the sector, CMOC fell 5.31%, MMG fell 5.23%, Wanguo Gold Group fell 5.04%, and Lygend Resources fell 2.48%, reflecting significant industry-wide selling.

The stock had previously rallied sharply from a May 28 low near 76.6 HKD to a high of 93.65 HKD, driven by expectations of tungsten price stabilization and U.S. efforts to rebuild its domestic tungsten supply chain. This rapid accumulation of gains intensified profit-taking pressure. Notably, on June 4, the stock experienced a similar sector-pressure-induced pullback of over 5%, suggesting continued unwinding of short-term positions.

Jiaxin International Resources is an investment holding company primarily engaged in the exploration, development, and mining of tungsten. All of its revenue is derived from scheelite concentrate produced at the Bakuta project in Kazakhstan.

(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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