On November 6, MMG fell 5.48% in Regular Trading, trading at HK$6.655, with turnover of HK$54.87 million.

The move follows recent news that MMG extended the long-stop date for its acquisition of Anglo American's Brazil nickel business to December 31 after the European Commission moved the review into Phase 2, with the review due by December 21. Separately, JPMorgan disclosed an off-market sale of 20.855 million shares on October 30 at an average price of HK$6.91, reducing its long position ratio to 4.95% from 5.11%.

Background disclosures indicate all other conditions for the nickel acquisition have been satisfied, leaving EU antitrust clearance as the key outstanding item. The delayed completion timeline and regulatory uncertainty have continued to pressure risk appetite, while the disclosed institutional position reduction added to short-term sentiment pressure.

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