Changes in Hong Kong stocks | Copper stocks are at the top of the decline, expectations that the Fed will raise interest rates again are heating up, institutions say copper price support will weaken marginally in the future

The Zhitong Finance App learned that copper stocks had the highest decline. As of press release, Luoyang Molybdenum (03993) fell 4.09% to HK$15.02; Jiangxi Copper (00358) fell 3.04% to HK$33.14; China Gold International (02099) fell 2.99% to HK$221; and Minmetals Resources (01208) fell 2.82% to HK$8.615.

According to news, the 10-year US Treasury yield climbed to a high of 5.07% on Wednesday, the highest level since 2007. A number of Federal Reserve officials have signalled that if inflation fails to fall quickly, the Federal Reserve may further tighten monetary policy. Bank of America recently issued a warning that investors should begin preparing for the risk that the Federal Reserve will raise the benchmark interest rate to 5% or more. The interest rate market is still underestimating the level of interest that the Federal Reserve's interest rate hike cycle may eventually reach.

Cinda Futures released a research report saying that in the short term, the supply of copper concentrate is tight, but the one-sided rise has come to an end for the time being due to the collapse of tariff expectations and the macro-interest rate hike narrative. (However, domestic spot prices are higher; currently, they are more willing to take the goods, and there is a small probability that the market will be extreme in a short period of time). After October, as some mines gradually recovered and the increase in domestic demand weakened, copper price support weakened marginally.