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GANFENGLITHIUM Slips 6% w/ Rating Downgraded to Sell by G Sachs; TIANQI LITHIUM Continues to Fall 4%; Lithium Miners Left Out of Mkt Rally
Recommend 7 Positive 9 Negative 5 |
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The Hong Kong bourse staged a comeback this morning (24th). The HSI last printed at 25,587, up 367 points or 1.4%, with a turnover of HKD90.236 billion. Goldman Sachs, bearish on lithium stocks, downgraded GANFENGLITHIUM (01772.HK)'s rating to Sell. Meanwhile, market concerns over a potential surge in the supply of lithium mines dampened investment sentiment, damaging Hong Kong-listed lithium miners' performance this morning. Stretching their slump of over 10% last Friday (21st), GANFENGLITHIUM and TIANQI LITHIUM (09696.HK) continued to cave under pressure this morning. GANFENGLITHIUM opened 3.1% higher but last dropped by 6.13% to HKD47.78, with a turnover of HKD853 million. TIANQI LITHIUM also opened up 0.7% but failed to keep its momentum alive. It last traded at HKD45.24, down 4.07%, with a turnover of HKD193 million. CATL (03750.HK), after rallying by 3% at open, ebbed in early trading. It was last at HKD464.6, down 0.1%, with a turnover of HKD482 million. AAStocks Financial News |
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