Movement Alert|ZHAOJIN MINING Falls 3.04% in Regular Trading, Fed Hawkish Rate Hike Continues to Weigh on Gold Sector

Market Focus
Sep 24

On September 24, ZHAOJIN MINING fell 3.04% in regular trading, trading at HK$18.51/share, with turnover of approximately HK$49.61 million. The decline extends a multi-session selloff across the gold mining sector triggered by the U.S. Federal Reserve's hawkish monetary policy pivot.

On September 17, the Fed announced a 25-basis-point rate hike to 3.75%-4.00%, its first increase in three years. The latest dot plot showed 16 out of 18 FOMC members projecting at least one additional hike before year-end, signaling the tightening cycle is far from over. Following the decision, the U.S. Dollar Index reclaimed the 100 level while spot gold briefly fell below $4,300/oz, sharply down from around $4,650/oz in late August.

The gold sector saw broad-based declines, with ZIJIN GOLD INTL down 4.09%, SD GOLD down 3.45%, CHINAGOLDINTL down 2.90%, LINGBAO GOLD down 2.82%, and CHIFENG GOLD down 2.00%. Despite ZHAOJIN MINING's solid first-half results — revenue up 29.4% year-over-year to RMB 9.02 billion and net profit attributable to shareholders up 9.6% to RMB 1.58 billion — macro headwinds from rising real rates continue to overshadow company-level fundamentals.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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