HK Stock Market Move | The colored plate sector led the decline, with Shandong Gold Mining (01787) falling more than 13% and JIANGXI COPPER (00358) falling more than 10%.

The decline in the non-ferrous sector is leading, as of the time of publication, Shandong Gold Mining (01787) fell by 13.38% to HK$38.36; Chifeng Jilong Gold Mining (06693) fell by 12.63% to HK$34.86; JIANGXI COPPER (00358) fell by 10.16% to HK$42.64; CHINFMINING (01258) fell by 9.62% to HK$14.19; Aluminum Corporation Of China (02600) fell by 7.22% to HK$12.85. On the news front, the international precious metals market continued last Friday's sharp sell-off, with both gold and silver falling. In the afternoon, the decline deepened further. Spot gold fell below $4450 per ounce, hitting a new low since January 8; spot silver erased all its gains so far this year, dropping to as low as $71.31 per ounce. In addition, domestic commodity futures markets experienced widespread declines, with Shanghai silver, palladium, platinum, Shanghai nickel, Shanghai tin, Shanghai copper, Shanghai aluminum, and international copper all hitting their limit down. In the short term, China International Securities believes that after the rapid rise in the past, the market is re-evaluating the weight of "trends" and "volatility" in the non-ferrous sector. The nomination process of Powell and the further clarification of his policy views will continue to be a key factor affecting commodity prices and the non-ferrous industry. If his "hawkish" stance is strengthened, it may temporarily reverse the expectation of a "weak dollar," thereby increasing price fluctuations in all non-ferrous metals. However, the trend of rate cuts remains unchanged, and the long-term industry logic brought about by rigid supply and new demand dynamics may provide better positioning opportunities in the medium to long term despite short-term corrections.