On October 2, MMG fell 3.4% in regular trading, trading at HK$8.39, with turnover of HK$31.49 million, as the broader Diversified Metals & Mining sector came under broad selling pressure.

On the news front, JPMorgan has conducted consecutive over-the-counter reductions in its MMG holdings. On September 24, JPMorgan offloaded approximately 20.02 million shares at an average price of HK$8.585, reducing its long position from 5.09% to 4.94%, involving roughly HK$172 million. This followed an earlier disposal on September 21 of approximately 24.70 million shares at HK$8.7187, which had already brought JPMorgan's stake below the 5% disclosure threshold to 4.84%. The sustained institutional deleveraging has weighed on market confidence.

Sector-wide, mining stocks declined broadly. Among peers, ZIJIN MINING fell 2.61%, WANGUO GOLD GP dropped 3.91%, LYGEND RESOURCE slid 4.55%, and JIAXIN INTL RES lost 3.65%. Institutions have previously warned that renewed expectations of a Fed rate hike could weaken marginal support for copper prices, adding to headwinds for the sector.

(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.)