有色ETF基金(159880)涨超1%，铜锂稀土三主线共振上行

Group 1 - The Hong Kong stock market's non-ferrous metal sector is showing strength, with companies like China Aluminum, China Hongqiao, and Jiangxi Copper all rising over 3%, indicating optimistic market sentiment towards the non-ferrous metal industry [1] - As of November 28, the non-ferrous ETF fund (159880.SZ) increased by 1.29%, and its related index, the Guozheng Non-Ferrous Index (399395.SZ), rose by 1.38% [1] - Key component stocks such as Huayou Cobalt, Ganfeng Lithium, and Zijin Mining also experienced significant gains, with increases of 2.71%, 3.48%, and 0.84% respectively [1] Group 2 - According to research from Galaxy Securities, the non-ferrous metal industry is expected to rebound due to the Federal Reserve's shift to a rate-cutting cycle in 2024 and domestic growth stabilization policies [2] - The macroeconomic expectations are anticipated to improve following the potential Geneva Agreement between China and the U.S. in 2025, which, along with supply chain disruptions and liquidity easing, will drive non-ferrous metal prices and corporate profits upward [2] - The current TTM price-to-earnings ratio for the non-ferrous metal industry is 23.21 times, with valuation premiums below historical averages by 70.73 percentage points, indicating a relatively safe valuation level [2]