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TIANQI LITHIUM, GANFENGLITHIUM Sag ~3-4%; JPM: Recent News Adds Pressure to Lithium Sector
Recommend 6 Positive 8 Negative 13 |
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TIANQI LITHIUM (09696.HK) opened 0.84% lower this morning (4th) and once hit a trough of HKD45.74. It last printed at HKD46.18, down 2.78%, with 1.7614 million shares traded, involving HKD81.3027 million. Peer GANFENGLITHIUM (01772.HK) opened 0.91% lower today and once fell to a trough of HKD57.75. It last printed at HKD58.05, down 4.13%, with 5.095 million shares traded, involving HKD298 million. JP Morgan said in a research report that sentiment in commodities and related equity markets is unlikely to reverse in the near term. The market still lacks consensus on lithium supply and demand, resulting in prices being largely driven by news flow. As recent positive catalysts, including production cuts of lepidolite in Jiangxi and export controls in Zimbabwe, have largely played out, JP Morgan believed risks ahead will tilt toward unfavorable news. It therefore maintained a Neutral rating on both GANFENGLITHIUM and TIANQI LITHIUM. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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