On September 28, CHIFENG GOLD fell 3.81% in regular trading, trading at HK$34.34/share, with turnover of HK$12.30 million. The decline came amid a broad selloff across gold mining stocks driven by persistently elevated U.S. Treasury yields and institutional selling pressure.

The 10-year U.S. Treasury yield has remained above 5%, with the probability of another 25-basis-point rate hike in October standing at approximately 71%. The high-rate environment has eroded the appeal of zero-coupon assets such as gold, pushing international gold prices below $4,300. The entire gold sector traded sharply lower, with SD GOLD down 7.6%, ZHAOJIN MINING down 4.31%, ZIJIN GOLD INTL down 3.63%, and LINGBAO GOLD down 5.99%.

Adding to the selling pressure, JPMorgan Chase has been consecutively reducing its long position in CHIFENG GOLD H shares. On September 17, its stake fell from 8.72% to 8.04%, followed by a further reduction to 7.87% on September 18 after disposing of approximately 402,800 shares at an average price of HK$38.16 per share in an off-market transaction totaling approximately HK$15.37 million.

(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.)