Changes in Hong Kong stocks | Non-ferrous stocks are generally high, US job market data pushes up expectations of interest rate cuts, institutions say non-ferrous metals may usher in a super big cycle

The Zhitong Finance App learned that non-ferrous stocks were generally higher. As of press release, Zijin Mining (02899) rose 3.51% to HK$34.24; China's Hongqiao (01378) rose 3.32% to HK$32.4; Lingbao Gold (03330) rose 3.23% to HK$18.56; Luoyang Molybdenum (03993) rose 2.8% to HK$18.36; Jiangxi Copper (00358) rose 2.57% to HK$34.28.

According to the news, the deterioration in US job market data has boosted expectations that the Federal Reserve will cut interest rates. According to data released by the US Department of Labor on Thursday, the number of initial applicants increased by 44,000 to 236,000 in the week ending December 6, the biggest increase since March 2020. The number of applicants in the previous week was the lowest level in more than three years. Currently, mainstream market expectations still point to continuing to cut interest rates early next year. J.P. Morgan Chase, Morgan Stanley, and Citi all agree to cut interest rates again in January next year.

Guojin Securities pointed out that in 2025, the domestic and foreign policies of the world's major economies began to enter a stage of substantial adjustment and collision. The normalization of conflicts between Russia, Ukraine, and the Middle East, and the deepening of the game between major powers increased the risk of global supply chain breakdowns — putting “safety” above “cost,” and the global economy continued its weak growth trend. Europe and the US have begun a cycle of interest rate cuts, but mainly to cope with economic slowdown rather than stimulate prosperity. In this context, non-ferrous metals may usher in a huge cycle.