BPZIJIN@EC2604A

Xu Kunlin Meets Zijin Mining Chairman Zou Laichang, Liaoning Seeks to Deepen Cooperation with Zijin Mining

Citibank Raises Target Price and Profit Forecast for Zijin Mining

Zijin Mining Plans to Start Lithium Production in Congo's Manono Mine in June

JPMorgan Increases Holdings in Zijin Mining H Shares

BOA Securities Raises Output Projections for Zijin Mining to 2028

DBS Analyst Maintains Buy Rating on Zijin Gold International, Sets Target Price at HKD 253.00

Zijin Mining Outlines Ore Production Targets for 2025-2028

Zijin Mining Board Approves 2026-2028 Production Plan and Sets 2035 Long-Term Goals

Zijin Mining provides guarantee for its wholly-owned subsidiary

Zijin Mining Successfully Issued $1.5 Billion Zero-Coupon Convertible Bonds

UBS Increases Its Long Position in Zijin Mining H Shares to 5.53%

Zijin Mining Subsidiary Jincai Investment Issues $1.5 Billion Zero-Coupon Convertible Bonds

Zijin Mining's $1.5 billion convertible bond fully subscribed within 10 minutes

Morgan Stanley Raises Zijin Mining Target Price to 59 Yuan

Zijin Mining to Acquire Allied Gold for RMB 28 Billion

JPMorgan Positive on Zijin Mining's Expansion of Copper and Gold Resources, Maintains Target Price

Morgan Stanley: Zijin Mining Plans to Acquire Allied Gold for CAD 5.5 Billion

Zijin Gold International Expanding Global Gold Investment Portfolio

Zijin Gold International Plans to Acquire Barrick Gold for CAD 5.5 Billion

Zijin Mining Plans to Acquire Allied Gold for RMB 28 Billion

GUANZE MEDICAL

PCPD

STARCOIN GROUP

HUILI RES

TIMES UNI GP

MANY IDEA CLOUD

WALNUT CAP

SILKWAVE INC

HUA LIEN INT'L

WAI CHUN GROUP

00HSI

601899

MPNGY

02899

03690

Hong Kong stocks fell sharply on the last day before the long holiday, with the Hang Seng Index closing at 26,567 points, down 465 points or 1.7%. Meituan plummeted 3.2%, hitting a two-year low, and Zijin Mining dropped 7.6%. The overall market turnover was HKD 257.5 billion, with a net inflow of HKD 20.22 billion from the north. The three major indices rose slightly for the week, with the National Index closing at 9,032 points, down 142 points, and the Tech Index reporting 5,360 points, down 48 points. The resources and precious metals sectors faced a sell-off, and traditional financial stocks also performed weakly

- Hong Kong's stock market faced heavy selling pressure before a long holiday, with the Hang Seng Index closing down 465 points at 26,567.  
- Major indices experienced slight weekly gains despite the day's decline; Meituan performed poorly, while Innovent Biologics and WuXi AppTec showed better results among blue chips.  
- Analysts suggest continued pressure on the market as tech stocks remain weak, anticipating potential testing of support around 26,300 points next week.

Stheadline

Hang Seng Index

Zijin Mining

Meituan

ZIJIN MINING

MEITUAN

The Hang Seng Index fell by 465 points, Meituan dropped sharply by 3%, and Zijin Mining declined by 8%. Experts expect the market to be weak in the first half of the day before the holiday｜Hong Kong stock market closing

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00100

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01698

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KNOWLEDGE ATLAS(02513) rose 20.65%, with a trading turnover 2.4 Billion HKD, and a year-to-date rose 317.4%. MINIMAX-WP(00100) rose 15.65%, with a trading turnover 1.9 Billion HKD, and a year-to-date rose 312.1%. TME-SW(01698) fell 9.23%, with a trading turnover 247.1 Million HKD, and a year-to-date fell 14.5%. ZIJIN MINING(02899) fell 7.64%, with a trading turnover 4.1 Billion HKD, and a year-to-date rose 16.6%.

Top Gainers & Losers

KNOWLEDGE ATLAS

MINIMAX-WP

CTG DUTY-FREE

GIGADEVICE

LENOVO GROUP

TME-SW

CMOC

Top 5 HK Stock Gainers/Losers (>100B) (2.13)

00700

01024

09888

09988

02706

On February 13th, the Hong Kong stock market showed weak sentiment, with all three major indices declining collectively. The Hang Seng Index fell 1.86% during the session and failed to hold its high position, while the Hang Seng TECH Index dropped 1.31%. Under the dual pressure of cooling expectations for a Federal Reserve interest rate cut and intensified industry competition, technology and consumer heavyweight stocks experienced widespread declines. Meituan fell over 3% due to market concerns about a new round of price wars, with Baidu, Alibaba, and others following suit in their corrections. Market risk aversion increased, with funds waiting for the core data at the end of the month to validate the recovery's strength. In terms of individual stocks, the new stock HAIZHI TECH GP surged over 224%, becoming the biggest highlight of the session

- As of February 13, 2026, Hong Kong's stock indices faced downward pressure, with the Hang Seng Index dropping 1.86% to 26,529.94 points amid weakening buying momentum.  
- The technology and retail sectors experienced declines due to concerns over competition and market dynamics, with companies like Tencent and Alibaba seeing significant decreases in share prices.  
- Investors remain cautious, awaiting crucial data later in the month to gauge economic recovery signals and their impact on major sectors.

Market Heartbeat

TENCENT

KUAISHOU-W

BIDU-SW

BABA-W

JD-SW

YUM CHINA

HAIZHI TECH GP

INNOVENT BIO

Hang Seng TECH Index

Hong Kong stock market intraday | The Hang Seng Index fell 1.86% under pressure, technology stocks broadly declined, Meituan dropped 3.48%, and the new stock HAIZHI TECH GP surged 224%

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The Hang Seng Index fell for the second consecutive day, reaching H$26,550, its lowest since February 6, down from a year-to-date high of H$28,000. This decline mirrors global stock trends, with US equities also retreating. Key companies in the index, including Zijin Mining and China Life Insurance, saw significant drops. Despite this, technical analysis suggests a potential rebound if the index remains above the 100-day moving average. The upcoming US consumer inflation report is anticipated to influence market movements further.

Invezz

CHINA LIFE

China Life

Hang Seng Index dips to a key support as global stocks retreat

STECH

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513130

The Hang Seng Index opened 392 points lower this morning, with a maximum drop of 494 points, closing at 26,548 points, down 484 points or 1.79%. The turnover was HKD 128.406 billion. The Tech Index fell 89 points or 1.65%. Meituan dropped 4.53%, and Zijin Mining fell 5.19%. HAIZHI TECH GP debuted today, closing at HKD 89.1, up 229.2% from the listing price. The three major U.S. stock indices fell sharply, with technology stocks generally declining, and major stocks like Apple and Cisco performing poorly

- The Hang Seng Index opened down 392 points, closing at 26,548 points, a drop of 484 points or 1.79%, with a turnover of HK$128.4 billion.  
- Major tech stocks faced heavy selling pressure, with Meituan down 4.53% and Alibaba down 2.27%.  
- In the U.S. market, all three major indices fell sharply, influenced by declining technology stocks and concerns over AI's impact on traditional industries.

ISHARESHSTECH

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

The Hang Seng Index fell 484 points in the half-day session, Meituan dropped 4.5%, Zijin Mining fell by 5%, and Haizhi Tech GP rose by 229%｜Hong Kong stock market opens

XIACY

The short selling amount in the Hong Kong stock market reached HKD 16.05 billion in the half-day session, accounting for 15.3% of the total shortable shares traded. The main shorted stocks include Meituan-W with a short selling ratio of 31.8% and a short selling amount of HKD 1.15 billion; Zijin Mining with a short selling ratio of 35.2% and a short selling amount of HKD 1.06 billion; Tencent Holdings with a short selling ratio of 6.8% and a short selling amount of HKD 850 million; Xiaomi Group-W with a short selling ratio of 25.4% and a short selling amount of HKD 730 million; Alibaba-W with a short selling ratio of 12.5% and a short selling amount of HKD 600 million

AASTOCKS

Xiaomi Corporation

KraneShares 2x Long BABA Daily ETF

Tencent Holdings Limited

Alibaba

XIAOMI-W

Tencent

BABA 2x Long Daily ETF - GraniteShares

The short selling in Hong Kong stocks for half a day reached HKD 16.05 billion, accounting for 15.3% of the total turnover of shortable stocks

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On February 12th, the Hong Kong stock market closed at noon, with the three major indices collectively adjusting after yesterday's surge, and the Hang Seng TECH Index fell by 1.68%. Technology heavyweight stocks were all weak, with Meituan leading the decline, dropping 4.16%, while Tencent and Alibaba also weakened simultaneously. The catering and retail sectors were dragged down by market sentiment. Despite the overall market weakness, ZIJIN MINING rose against the trend by 2.25%, and YOFC surged by 11.35%. Market funds have entered a wait-and-see period, awaiting inflation data to verify the sustainability of consumer recovery

- On February 12, Hong Kong stocks experienced a technical correction after a previous surge, with major indices all declining.  
- The Hang Seng Index fell 0.89% to 27,024.06, while technology and retail sectors were notably affected, with Tencent down 2.65% and Meituan down 4.16%.  
- Market sentiment is cautious ahead of upcoming macroeconomic data releases, including CPI and unemployment rates, vital for assessing the sustainability of local consumption recovery.

BILIBILI-W

MNSO

HAIDILAO

HPC HOLDINGS

TOUYUN BIOTECH

HANVEY GROUP

FL2 CSOP HSI

YOFC

FI CSOP HSI

FI2 CSOP HSI

CSOP HS TECH

Hong Kong Stock Market Mid-Review | The Hang Seng Index fell 0.89%, technology weights weakened across the board, Meituan plummeted 4.16%, and YOFC surged 11.35%

On February 12th, the three major indices of the Hong Kong stock market collectively weakened during the session, with the Hang Seng TECH Index falling by 1.58%, leading the market decline. Affected by the escalation of the AI model war, the internet and retail sectors experienced widespread declines, with heavyweight stocks such as Tencent Holdings, Meituan, and Alibaba under pressure. Market sentiment has turned cautious, with funds closely monitoring macro data such as retail sales and imports and exports to verify the strength of the economic recovery

- On February 12, Hong Kong's stock indices experienced a collective downturn after reaching yesterday's highs, with the Hang Seng Index down 0.68% to 27,082.16 points.  
- The technology sector faced significant losses, particularly the Hang Seng Tech Index, which fell 1.58%, pressured by concerns over competition in the AI market.  
- Investors are focusing on macroeconomic data for February, especially retail sales and import-export figures, to gauge local consumption recovery and external demand resilience.

JD-SWR

LEMO SERVICES

TJCD

HUAYUEXPRESSWAY

BOER POWER

Hong Kong stock market intraday | Hang Seng TECH Index down 1.58%, Tencent down 2.83%, Meituan down 3.38%

Citigroup raised the target price for Zijin Mining's A-shares and Hong Kong stocks by over 30% and upgraded its earnings forecast due to the upward revision of gold and lithium price forecasts and an increase in gold sales

Wallstreetcn

China's Zijin Mining to start Congo's first lithium output in June from Manono deposit, companies say

marketscreener

China's Zijin Mining to start Congo's first lithium output in June from Manono deposit, companies say

HKEX:JPMORGAN CHASE & CO’S LONG POSITION IN H SHARES OF ZIJIN MINING INCREASES TO 11.29% ON FEB 5 FROM 10.75%

Reuters

JPMorgan Chase & Co’s Long Position In H-Shares Of Zijin Mining Increases To 11.29% On Feb 5 From 10.75%, HKEX Shows

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BYDDY

600585

561330

The National Bureau of Statistics report shows that in January, the PPI rose by 0.4% month-on-month, marking an increase for four consecutive months, with the growth rate expanding by 0.2 percentage points compared to the previous month. Key features include: the construction of a unified national market driving price increases in certain industries, increased demand leading to price rises in related industries, and input factors affecting the divergence in price trends. Specifically, the prices of cement and lithium-ion battery manufacturing both increased by 0.1%, photovoltaic equipment prices rose by 1.9%, and computer communication equipment prices increased by 0.5%. The rise in international non-ferrous metal prices has driven up prices in related domestic industries

Guotai CSI Non-ferrous Metal ETF

BYD Company

CONCH CEMENT

BYD COMPANY

CATL

Penghua Guozheng Non-ferrous Metal Industry ETF

Jinkosolar

BYD Company Limited

Guotai CSI All Share building Materials ETF

Guotai CSI Non-Ferrous Metal Kuangye Theme ETF

CNBM

CHALCO

Jinko Solar

Wanjia CSI Industry Non-Ferrous Metal Theme ETF

E Fund CSI All Share Building Materials ETF

China Southern CSI SWS Non-Ferrous Metal ETF

Tongwei Co.,Ltd

JIANGXI COPPER

Fullgoal CSI All Share Building Materials ETF

CSCEC

JCCL

ChinaAMC CSI Subdivision Non-ferrous Metal Sub-Industry ETF

National Bureau of Statistics: In January, the PPI rose by 0.4% month-on-month, increasing for four consecutive months, with the growth rate expanding by 0.2 percentage points compared to the previous month

GOLD

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Goldman Sachs pointed out that global capital is accelerating its shift from financial assets to hard assets such as commodities in search of safe havens, forming a "hard asset rotation." This trend is expected to drive the prices of metals like copper and gold to remain high in the long term, potentially even surpassing the support of physical supply and demand fundamentals. Due to the relatively small scale of the metal market, limited supply elasticity, and easier storage, the marginal impact of capital inflows is particularly significant. This structural allocation shift may lead to a long-term premium for certain commodities

- In response to increasing volatility in global stock markets, investors are shifting funds into hard assets like commodities for risk mitigation.  
- Goldman Sachs identifies this "hard asset rotation" as a key driver for maintaining high metal prices, which could surpass levels supported by physical supply and demand fundamentals.  
- The firm notes that ongoing asset allocation adjustments may sustain elevated copper prices and create structural premiums in the market, amidst risks tied to changing investor sentiment and macroeconomic uncertainty.

Kinross Gold

Gold.com

ZHONGJIN GOLD

SD-GOLD

Agnico Eagle Mines

ZIJIN GOLD INTL

Newmont

GLOBAL X Gold Explorers

ISHRS MSCI Glb Slct Met & Mining

SPDR S&P Mtls & Mng

iShares Copper and Metals Mining ETF

VanEck Junior Gold Miners ETF

iShares MSCI Global Silver Miners

Abrdn Gold ETF Trust

Sprott Junior Copper Miners ETF

United States Copper Index

iShares Gold Trust

Pro Ultr GLD

EFUND GOLD MI-R

Global X Copper Miners

SPDR Gold Shares

VanEck Gold Miners ETF

YieldMax Gold Miners Opt Inc Strgy ETF

Roundhill Gold Miners Weeklypay ETF

Us Gbl GLD & Met

Sprott Copper Miners ETF

Sprott JR Gold Miners ETF

Tradr 2X Long NEM Daily ETF

ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF

Abrdn Precious Metals Basket ETF Trust

Goldman Sachs: Global capital begins "hard asset rotation," commodities may welcome long-term premiums

BPZIJIN@EC2604A(20308.HK)

The Hang Seng Index fell by 465 points, Meituan dropped sharply by 3%, and Zijin Mining declined by 8%. Experts expect the market to be weak in the first half of the day before the holiday｜Hong Kong stock market closing

Top 5 HK Stock Gainers/Losers (>100B) (2.13)

Hong Kong stock market intraday | The Hang Seng Index fell 1.86% under pressure, technology stocks broadly declined, Meituan dropped 3.48%, and the new stock HAIZHI TECH GP surged 224%

Hang Seng Index dips to a key support as global stocks retreat

The Hang Seng Index fell 484 points in the half-day session, Meituan dropped 4.5%, Zijin Mining fell by 5%, and Haizhi Tech GP rose by 229%｜Hong Kong stock market opens