Movement Alert|Jiangxi Copper Rises 5.23% in Regular Trading, Copper Sector Rebounds After Cumulative 15% Selloff With Institutional Support

Market Focus06-12

On June 12, Jiangxi Copper rose 5.23% in regular trading, trading at 33.56 HKD/share, with turnover of 93.68 million HKD. The copper sector staged a broad rebound after the stock had accumulated over 15% in losses since June 4, previously pressured by surging Fed rate hike expectations and a strengthening US dollar that pushed New York copper down over 4%.

Institutional activity provided support, with BlackRock raising its stake in Jiangxi Copper H shares to 5.57% as of June 3, up from 4.71%. Meanwhile, Hong Kong Exchange data revealed a significant position transfer worth 922 million HKD on June 11, with 22.27 million shares transferred to BNP Paribas. The company had also reported robust Q1 results, with net profit surging 44.31% year-on-year to 2.818 billion yuan on revenue of 139.12 billion yuan, up 25.39%. Within the copper sector, JINXUN RESOURCE rose 12.82%, while CDAYENONFER and JINCHUAN INTL traded flat.

(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.)

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