HK Stock Market Move | LAOPU GOLD (06181) once fell 5%, with the stock price currently on a six-day losing streak. Terminal demand has slowed somewhat since the second quarter.

LAOPU GOLD (06181) fell as much as 5% this morning, with the stock price currently on a six-day losing streak, down nearly 14% cumulatively. As of press time, it is down 3.23% at HK$329.2, with a turnover of HK$171 million. On the news front, precious metal prices came under further pressure amid a rebound in US Treasury yields and the US dollar index. On the morning of September 28, spot gold continued to decline, falling below $4,200/oz, down more than 2% intraday, the first time since August 5. A HAITONG INT'L research report noted that LAOPU GOLD's sales performance in the first quarter of this year was strong, but terminal demand has slowed somewhat since the second quarter. The brokerage expects year-on-year growth in the fourth quarter of this year may come under periodic pressure given the high base. Taking into account the high base, a weak consumption environment, and operational uncertainty brought by gold price volatility, the brokerage assigned a 2026 price-to-earnings ratio of 10x, down from 14x, and cut its target price by 21% to HK$435, maintaining an "Outperform" rating.