Movement Alert|CMOC Group Falls 7.36% in Regular Trading, Fed Rate Hike Expectations Weigh on Non-Ferrous Metals Sector

Market Focus
Jun 08

On June 8, CMOC Group fell 7.36% in regular trading, trading at 17.12 HKD/share, with trading volume of 243 million HKD.

On the news front, U.S. May non-farm payrolls significantly beat expectations, while rising energy costs pushed inflation higher, sharply lifting Fed rate hike expectations. CME data shows the probability of a 25-basis-point hike in July has risen to 8.4%. The Hang Seng Index opened down 1.52%, with broad market pressure further amplifying the sell-off in cyclical sectors.

The Diversified Metals and Mining sector declined across the board. Among individual stocks, JIAXIN INTL RES fell 5.32%, WANGUO GOLD GP fell 5.14%, XINXIN MINING fell 4.89%, MMG fell 4.43%, and LYGEND RESOURCE fell 2.4%. CMOC Group had already retreated over several consecutive sessions prior to this accelerated decline, with the move driven by macro headwinds resonating with sector-wide weakness.

(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.)

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