Zijin Mining(HK:02899) Ge Long Hui·2025-12-13 04:20Market Overview - The Hong Kong stock market is currently experiencing a narrow range of fluctuations, with the Hang Seng Index oscillating between 25,100 and 26,100 points, indicating a lack of clear direction [1][2] - Recent trading volumes have decreased significantly, with several days recording turnover below 200 billion HKD, contrasting with previous levels exceeding 230 billion HKD [1][2] - Investor sentiment appears cautious, with many adopting a wait-and-see approach as the market approaches the holiday season [1][2] Investment Products - In the current unclear market environment, investors are increasingly focusing on index-related products such as Hang Seng Index warrants, which allow for short-term trading even with limited index movement [2][3] - It is advised that investors avoid short-term warrants due to potential declines in implied volatility, especially around holiday periods [3] Commodity Stocks - Commodity-related stocks, including Zijin Mining (02899), are attracting attention as international commodity prices tend to improve towards year-end, supported by a recent interest rate cut in the U.S. [3][4] - Zijin Mining's stock price has risen to around 33 HKD, up from approximately 30 HKD in late October, indicating strong investor interest in commodity stocks [4] Xiaomi Corporation - Xiaomi's stock has shown resilience, recovering from a recent low of 36.6 HKD, with management actively buying back shares, which may stabilize the stock price [5][6] - Recent data indicates a significant inflow of approximately 12 million HKD into Xiaomi's warrants over the past five trading days, reflecting strong investor support [6] China Construction Bank - China Construction Bank (939) has seen its stock price decline to around 7.5 HKD, raising questions about potential stabilization and rebound opportunities [6][7] - There is growing interest in CCB's warrants, with investors considering the current price level as a potential entry point for a rebound [6][7] - A specific CCB warrant (20915) offers an attractive leverage of nearly 12 times, making it appealing for investors anticipating a price recovery [7]