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<Research>JPM Recommends Buying ZIJIN MINING, Forecasts Trade-in Policy to Continue Shoring Up This Yr's Metal Commodity Mkt
Recommend 8 Positive 22 Negative 10 |
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Supported by consumption stimulus from the trade-in policy, China's 2025 GDP managed to meet the target with a YoY increase of 5%, according to JPMorgan's research report. JPMorgan anticipates that the trade-in subsidy policy will persist into 2026. While the incentives will be more targeted and efficiency-focused than in 2025, they will still provide substantial support for overall commodity demand. The broker's sector preference for China basic materials in 2026 is gold/ copper > aluminum > lithium > coal > steel. It also expects the materials sector to continue outpacing the MSCI China Index. JPMorgan recommended investors buy ZIJIN MINING (02899.HK) (601899.SH) and accumulate CHALCO (02600.HK) (601600.SH) and CHINAHONGQIAO (01378.HK) on dips. Meanwhile, CMOC (03993.HK) may take a pause due to the issuance of convertible bonds. AAStocks Financial News |
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