Opportunity Express | Hong Kong Stocks: Metals Sector Rally, Tech Divergence

　　In market movements, large-cap tech stocks showed mixed performance: Kuaishou gained 4%, Meituan, NetEase, and JD.com edged higher, while Alibaba, Baidu, Xiaomi, and Tencent saw slight declines. Supply shortages coupled with the computing power revolution are driving copper prices higher, with copper mining stocks leading gains in the non-ferrous metals sector. China Daye Nonferrous Metals surged nearly 20%, leading the advancers, Jiangxi Copper rose over 7%, and China Nonferrous Mining gained 8%. Hong Kong local banking stocks rallied sharply, with HSBC Asia Pacific planning to take the company private via a scheme of arrangement, and Hang Seng Bank soaring 41% intraday to hit a record high. Multiple stocks related to mineral resources saw gains, and high-speed rail infrastructure stocks surged significantly, with China Railway Group once rising over 10%, marking the best performer. Institutions suggest focusing on supply-demand recovery under the low base effect in Q4, leading to a collective rebound in airline stocks. China Eastern Airlines surged nearly 10%, while wind power, chip, telecommunications, oil, and property management stocks all advanced.

　　On October 9, the Ministry of Commerce announced the decision to implement export controls on relevant overseas rare earth items. Among these, export applications for overseas military end-users, as well as for importers and end-users listed on the export control control list and watchlist, will in principle not be approved.

　　For the export of non-controlled goods, technologies, or services, if the exporter knows that they will be used for or substantially contribute to overseas rare earth mining, smelting and separation, metal smelting, magnetic material manufacturing, or rare earth secondary resource recycling activities, according to Article 12 of the "Export Control Law of the People's Republic of China" and Article 14 of the "Regulations on the Export Control of Dual-Use Items of the People's Republic of China," an application for a dual-use item export license must be submitted to the Ministry of Commerce before export. Provision is prohibited without a license.

　　The meanings and scope of "rare earth," "smelting and separation," "metal smelting," and "rare earth secondary resources" referred to in this announcement shall be implemented in accordance with the relevant provisions of the "Rare Earth Management Regulations of the People's Republic of China." The "magnetic material manufacturing" technologies referred to in this announcement include samarium-cobalt, neodymium-iron-boron, and cerium magnet manufacturing technologies. Technologies and their carriers referred to in this announcement include data such as technical-related materials, for example, design drawings, process specifications, process parameters, processing programs, simulation data, etc.