On September 28, MMG (01208.HK) fell 3.1% in regular trading, trading at HK$8.255 per share, with turnover of approximately HK$107 million. The decline comes amid a broad selloff across copper and diversified metals stocks.

The copper mining sector continues to face headwinds from tightening monetary policy expectations. The 10-year U.S. Treasury yield recently surged to its highest level since 2007, while multiple Federal Reserve officials signaled that further interest rate hikes may be necessary if inflation does not retreat quickly enough. The stronger dollar weighed heavily on LME copper, which fell 1.13% to $14,615.5 per ton after hitting technical resistance above $14,800. Downstream demand has also shown cautious signals, with copper processing enterprises adopting a wait-and-see approach ahead of the holiday season, resulting in thin actual transactions.

The broader Diversified Metals and Mining sector declined in tandem, with Zijin Mining down 2.65%, Wanguo Gold Group down 6.45%, CMOC down 2.0%, Jiaxin International Resources down 7.04%, and Lygend Resources down 4.96%. Additionally, JPMorgan recently reduced its stake in MMG to 4.84%, falling below the 5% disclosure threshold after an off-market sale of approximately 24.7 million shares at an average price of HK$8.7187.

(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.)