HK Stock Market Move | Non-ferrous metal stocks lead the gains, with Jiangxi Copper (00358) up over 5% and Shandong Gold Mining (01787) up over 4%.

Colored stock prices are leading, as of the deadline, CMOC Group Limited (03993) rose by 6.63% to HK$23.16; LINGBAO GOLD (03330) rose by 5.72% to HK$25.12; JIANGXI COPPER (00358) rose by 5.25% to HK$44.88; Shandong Gold Mining (01787) rose by 4.83% to HK$40.36; CHINFMINING (01258) rose by 4.51% to HK$15.07. On the news front, on the evening of February 13th, the report released by the US Bureau of Labor Statistics showed that the US January CPI fell to 2.4% year-on-year, lower than expected, with the core CPI dropping to 2.5% year-on-year, the lowest level since 2021. After the data was released, traders quickly raised their expectations for a Fed rate cut. The total expected rate cut this year increased from 58 basis points on Thursday to 63 basis points, with a 50% chance of three rate cuts before the end of the year. Goldman Sachs interpreted that the CPI data did not show as strong as market concerns, the Fed's "normalization" rate cut path seems clearer, with expectations of two rate cuts this year, with the next rate cut possibly in June this year. In addition, a recent research report by EB SECURITIES pointed out that under the background of great changes in the world, countries are paying more attention to resource security. On one hand, increasing reserves will add additional demand for metals, and on the other hand, it will increase the valuation of related metal stocks. The bank believes that the strategic metal varieties that are expected to benefit from reserves include: (1) under the backdrop of great power competition, the reevaluation of the value of gold and silver; (2) metals such as copper, aluminum, silver, and tin needed for AI and new energy development; (3) military-related varieties, rare earths, tungsten, antimony, etc.; (4) essential metals with low proportions of production in China and the US, such as uranium, tantalum, nickel, etc.