HONG KONG (ETN News, October 15) CMOC (03993) is down 7.1%, at HK$14.15; Chalco (02600) is down 6.7%, at HK$7.15; China Hongqiao (01378) is down 6.7%, at HK$19.51; Jiangxi Copper Company Limited (00358) is down 6.2%, at HK$30.56; China Nonferrous Mining (01258) is down 7.1%, at HK$13.94; Minmetals Resources (01208) is down 7.6%, at HK$7.77.
U.S. inflation in September exceeded expectations, pushing up U.S. bond yields. Money markets now indicate a probability of around 50% that the Federal Reserve will raise interest rates further this month; markets also expect the Fed to raise rates twice by 25 basis points each before the end of January next year. The U.S. dollar index rose to 102.95 on Wednesday, gaining 0.75%, negatively affecting the performance of dollar-denominated spot gold and dragging down non-ferrous metal prices.
LME copper is currently trading at USD 14,348 per ton, down 0.96%; LME aluminum is at USD 2,989, down 1.53%; LME nickel is at USD 15,369, down 1.08%.
Currently, the Hang Seng Index stands at 23,970, down 343 points or 1.4%, with main board turnover nearing HK$132.9 billion. The Hang Seng China Enterprises Index is at 8,061, down 121 points or 1.5%. The Hang Seng Tech Index is at 4,048, down 125 points or 3%. (vs)
U.S. inflation in September exceeded expectations, pushing up U.S. bond yields. Money markets now indicate a probability of around 50% that the Federal Reserve will raise interest rates further this month; markets also expect the Fed to raise rates twice by 25 basis points each before the end of January next year. The U.S. dollar index rose to 102.95 on Wednesday, gaining 0.75%, negatively affecting the performance of dollar-denominated spot gold and dragging down non-ferrous metal prices.
LME copper is currently trading at USD 14,348 per ton, down 0.96%; LME aluminum is at USD 2,989, down 1.53%; LME nickel is at USD 15,369, down 1.08%.
Currently, the Hang Seng Index stands at 23,970, down 343 points or 1.4%, with main board turnover nearing HK$132.9 billion. The Hang Seng China Enterprises Index is at 8,061, down 121 points or 1.5%. The Hang Seng Tech Index is at 4,048, down 125 points or 3%. (vs)
