HK Stock Market Move | WANGUO GOLD GP(03939) rises over 5%; rapid decline in long-end interest rates supports gold prices; company's Jinling mine expansion advances ahead of expectations.

WANGUO GOLD GP(03939) rose over 5%, up 4.55% as of press time, at HK$13.32, with a turnover of HK$244 million. On the news front, according to the latest data released by the U.S. Bureau of Labor Statistics, U.S. September PPI rose 6.3% year-on-year, against market expectations of 5.4%; and rose 1.3% month-on-month, versus expectations of 0.6%. Although the U.S. September PPI data exceeded expectations, the 10-year U.S. Treasury yield did not rise but instead fell sharply by about 9 basis points to around 5.06%-5.10%. Guosen Futures pointed out that the rapid decline in long-end interest rates is the direct driver of this round of gold and silver rebound, representing a technical correction after consecutive CPI and PPI shocks. At the same time, the U.S. dollar index retreated from highs to around 102, further supporting dollar-denominated gold. It is worth noting that recently, the overall construction progress of WANGUO GOLD GP's Jinling gold mine has continued to advance ahead of expectations. Zheshang pointed out that in 2026H1, the company's Solomon Islands Jinling mine generated revenue of RMB 1.380 billion, up 43.22% year-on-year, accounting for 74.04% of revenue. On the capacity side, among the Jinling mine's new 10 million-ton capacity project, ball mill installation is 80% complete, SAG mill installation is 50% complete, the 35kV substation civil construction and steel structure installation are 90% and 60% complete respectively, and the flotation power distribution room civil construction is 60% complete; the Xinzhuang mine's mining capacity is being upgraded from 600,000 tons/year to 900,000 tons/year and is in its final stage, with plans to further increase it to 1 million tons/year thereafter.