[True Insight Hong Kong Market Experts] Hong Kong stocks are expected to challenge the 26,800-point mark, with Zijin Mining (02899.HK) reporting strong interim results.

Hong Kong Stock Market Trends and Analysis

U.S. stocks continued to perform well this week, with the market optimistic about the progress of U.S.-China trade negotiations. The S&P 500 and Nasdaq hit new all-time highs, with all three major indices closing higher. The U.S. dollar weakened, and the 10-year Treasury yield fell to 4.03%. Gold prices continued to rise, and oil prices also showed upward momentum. Hong Kong-listed ADRs generally rose, and the market is expected to open higher in early trading. Mainland stocks fell yesterday, with the Shanghai Composite Index opening lower and closing down 0.3%. Trading volume in the Shanghai and Shenzhen markets also declined. Hong Kong stocks were mixed yesterday as investors awaited the outcome of U.S.-China trade talks and the Federal Reserve's interest rate decision. The market moved in a narrow range throughout the day, with overall trading remaining active. Positive external performance and progress in U.S.-China trade talks have improved market sentiment. Continued inflows of northbound capital are also favorable for the market. The index is expected to challenge resistance at 26,800 points, with support at 25,800 points.

Industry News

Zijin Mining (02899.HK) $ZIJIN MINING(02899.HK) reported strong first-half results, with revenue reaching RMB 167.7 billion, up 11.5% year-on-year. Net profit was RMB 23.292 billion, up 54.4% year-on-year, driven by the company's acquisitions in gold mining projects and the sustained rise in gold prices, which boosted both production and profits. Despite rising unit operating costs for gold, copper, zinc, and silver, the company demonstrated strong cost control capabilities and is expected to further improve profitability through refined management. Additionally, the company plans to implement an interim dividend of RMB 0.22 per share, reflecting its commitment to shareholder returns. Zijin Mining's spin-off and listing of its overseas gold business is a key strategic move, expected to bring high valuation premiums and support the company's international expansion. This will not only enhance overall valuation but also further drive the company's globalization. Overall, Zijin Mining's diversified layout in core mineral products, abundant resource reserves, and active expansion in new energy and new materials industries will lay a solid foundation for sustainable growth.

Guo Jiayao CFA, Business Development Director, Harbor Family Office

Date: Tuesday, September 16, 2025

(The author is a licensed person of the SFC and does not hold the above-mentioned shares)