HK Stock Market Move | Interest rate hike to suppress metal prices MMG (01208) fell more than 6%, CMOC Group Limited (03993) fell more than 5%

In terms of stock market performance, for colored stocks, as of the time of publication, MMG (01208) dropped by 6.18%, closing at 8.2 Hong Kong dollars; CMOC Group Limited (03993) dropped by 5.28%, closing at 16.68 Hong Kong dollars; ZIJIN GOLD INTL (02259) dropped by 5.02%, closing at 113.5 Hong Kong dollars; JIANGXI COPPER (00358) dropped by 5.09%, closing at 34.34 Hong Kong dollars; Aluminum Corporation Of China (02600) dropped by 4.17%, closing at 8.27 Hong Kong dollars. In terms of news, affected by the escalation of tensions between the US and Iran, oil prices returning to over one hundred dollars, and the reignition of inflation expectations, the rise in US bond yields to multi-year highs has suppressed the momentum of colored metals. On Thursday, the 10-year US Treasury bond yield rose by 4 basis points to 4.71%, reaching its highest level since January 2025; meanwhile, the 30-year yield rose to 5.19%, surpassing 5% for a period longer than any time since 2007. Traders estimate that the probability of the Federal Reserve raising interest rates by 25 basis points at the meeting on July 29th is around 30%, while the probability of keeping rates unchanged is around 70%.