Hong Kong stock exchange filings reveal JPMorgan acquired 924,002 shares of Luoyang Molybdenum (03993.HK) on July 10. The transaction, executed at HK$7.8413 per share, totaled approximately HK$7.245 million. This strategic purchase elevates JPMorgan's holdings to roughly 198 million shares, representing a 5.02% ownership stake in the Chinese mining giant. The move signals reinforced confidence in Luoyang Molybdenum's market position amid fluctuating commodity prices. Market analysts note such institutional accumulation often foreshadows positive performance expectations for mining sector players navigating global supply chain dynamics.
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