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Economic 'soft landing' combined with the wave of AI demand! Is there hope for the copper stocks to open up room for growth?
With the unexpected 50 basis point rate cut by the Federal Reserve, there has been a shift in the previously intense debate about whether the US economy will experience a "hard landing". The copper sector rose nearly 2% overall yesterday, showing strong performance.
Hong Kong stocks continued to rise strongly in the afternoon! The Hang Seng Index and the H-Share Index rose more than 2%, while the Technology Index surged more than 3%; large technology stocks are all performing well, with jd.com up more than 7% and Mei
The three major stock indexes in Hong Kong rose unilaterally throughout the day, with a surge in market bullish sentiment. The Hang Seng Tech Index continued to climb in the afternoon, leading the way with a sustained increase of 3.8%, ultimately closing significantly higher at 3.25%, reaching a two-month high. The Hang Seng Index and the Mainland China Stock Index rose by 2% and 2.1% respectively.
Hong Kong stocks are volatile today. Non-ferrous stocks are generally rising. The start of the interest rate reduction cycle, combined with the upcoming peak season of demand, is expected to drive metal prices higher.
Today, non-ferrous stocks have generally risen. As of the time of writing, Aluminum Corporation of China (02600) rose by 6.37% to HKD 5.01; CMOC Group Limited (03993) rose by 6.08% to HKD 6.11; Ganfeng Lithium (01772) rose by 5.5% to HKD 16.88.
Will copper prices soar in the long term? BHP Group Ltd: The AI wave will intensify the copper shortage.
①Although the global copper market is currently in a stage of weak demand, mining giant BHP Group Ltd warns that future copper demand will soar to a large extent due to the wave of artificial intelligence; ②BHP Group Ltd warns that copper is a key metal in the transition to clean energy, and the development of artificial intelligence will exacerbate the copper shortage problem.
Hong Kong copper stocks rose in the afternoon.
As of September 16th, copper stocks in the Hong Kong stock market rose in the afternoon, with chinagoldintl up more than 4%, mmg up more than 2%, and jiangxi copper and chinfmining following the trend.
South America's Copper Supply Remains Weak – Commerzbank
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