HK Stock Market Move | CGN MINING (01164) rose over 6% again as the State Council approved 8 new nuclear power units, with physical investment funds entering the market to support uranium prices.

CGN MINING (01164) rose over 6% again, with an increase of 6.45% as of the time of writing, priced at HK$2.805, with a trading volume of HK$126 million. In terms of news, the State Council's executive meeting decided to approve 4 nuclear power projects, totaling 8 units. It is estimated that the total investment for these new projects will exceed 170 billion yuan. In addition, SPUT purchased 100,000 pounds of physical uranium on July 29 and 30 respectively, with a total of 200,000 pounds of physical uranium purchased that week, combined with the 50,000 pounds of physical uranium purchased on July 21, marking an increase for two consecutive weeks. Shenwan Hongyuan Group stated that financial buying power continues to gain momentum, resonating with the demand for nuclear power industries, tightening spot liquidity in the short term, and providing strong support for uranium prices. The bank believes that the supply and demand in the natural uranium sector continues to tighten, and the long-term supply gap may widen, being optimistic about the long-term upward trend of uranium prices.