Shandong Gold's Hong Kong stock at record high as bullion scales new peak

Zhaojin Mining Industry Co

08/10/2025 03:59

** Hong Kong-listed shares of Shandong Gold Mining 1787.HK jump 7.1% to HK$42.48, a record high

** Stock is the third-biggest pct gainer on the Hang Seng's material index .HSCIM, which is up 1.6%, leading rally among Hong Kong-listed gold miners as bullion prices hit peak

** Gold has smashed through $4,000 an ounce to hit a record high on Wednesday, driven by investors seeking safety from mounting economic and geopolitical uncertainty, alongside expectations of further interest rate cuts by the U.S. Federal Reserve

** Traditionally, gold is seen as a store of value during times of instability. Spot gold XAU= is up 52% year-to-date, after rising 27% in 2024

** Zhaojin Mining 1818.HK rises 2.9%, Wanguo Gold 3939.HK gains 1.7%, Zijin Mining 2899.HK climbs 0.9% and China Gold International 2099.HK adds 0.8%

** Zijin Gold 2259.HK, which debuted on September 30 in Hong Kong, also surges 7.9% to a new high at HK$158.9

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))