On September 18, CHINAGOLDINTL rose 3.32% in regular trading, trading at HK$249.8/share, with turnover of HK$48.37 million. The stock rebounded sharply after consecutive sessions of heavy selling pressure across the gold sector.

On the news front, the Fed announced a 25-basis-point rate hike to 3.75%-4.00% on September 17, its first hike since July 2023. While the dot plot signaled a hawkish stance with potential for one more hike this year, the move had been widely priced in with over 92% probability. Spot gold initially plunged to $4,235 but staged a sharp reversal, recovering above $4,340 as a classic sell-the-fact dynamic unfolded. Multiple institutions including Goldman Sachs and UBS stated that gold downside is limited, with Goldman maintaining its year-end $4,900 target.

CHINAGOLDINTL had declined over 8% cumulatively in prior sessions amid rate hike fears and copper price weakness. The broader Hong Kong gold sector rebounded in tandem, with ZIJIN GOLD INTL up 2.39%, LINGBAO GOLD up 1.59%, CHIFENG GOLD up 1.17%, SD GOLD up 0.94%, and ZHAOJIN MINING up 0.59%.

(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.)