Hong Kong Stock Concept Tracking | Tariff Fluctuations! Market Risk Aversion Rises, Gold Prices Surge Back to USD 3,400 (Including Concept Stocks)

According to Zhitong Finance APP, tariff issues have once again raised market concerns. On May 30 local time, U.S. President Trump stated that the U.S. would increase tariffs on imported steel and aluminum from the current 25% to 50% starting in early June. Stimulated by this news, on June 3, COMEX gold futures main contract rose by 2.74%, closing at $3,406.4 per ounce. Goldman Sachs pointed out that if trade frictions escalate into a full-blown confrontation, gold prices are expected to exceed $4,200 by the end of 2025.

International gold prices surged sharply yesterday, mainly influenced by two significant factors. First, the U.S. government announced an increase in steel tariffs, indicating a greater likelihood of continuing economic gamesmanship through higher tariffs and an expanded trade war in future U.S. policies, leading to ongoing turmoil in the global political, economic, and trade environment. Second, as negotiations between Russia and Ukraine were underway, the situation suddenly deteriorated. According to sources from the Ukrainian Security Service, Ukrainian drones attacked several Russian military airports on June 1, including the Belaya military base deep in eastern Siberia. More than 40 aircraft, including A-50, Tu-95, and Tu-22 M3, were damaged in this operation, with losses estimated at around $2 billion.

The latest data released by the U.S. Department of Commerce shows that the U.S. GDP for the first quarter of 2025, when revised, decreased at an annual rate of 0.2%, slightly better than the previously announced initial value of 0.3%, but still indicating substantial pressure on the economy at the beginning of the year. Weak consumption, declining corporate profits, core inflation remaining high, and policy uncertainty are interwoven issues that constitute the main challenges facing the U.S. economy. A report from the Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce shows that after adjustments for inventory valuation and capital consumption, U.S. corporate profits fell by $118.1 billion in the first quarter of 2025, a decline of over 40%, marking the largest drop since the fourth quarter of 2020.

Huaxin Fund analysis believes that although tariffs have eased, U.S. commodity prices are difficult to lower, and subsequent inflation pressures will gradually transmit, with long-term stagflation pressures still posing challenges to the U.S. economy. In the medium to long term, the Federal Reserve's interest rate cut cycle is still ongoing; although the current pace of rate cuts has been delayed, gold may still benefit from the Fed's large rate cut cycle.

Dongfang Caifu Securities stated that the U.S. has intensified concerns about fiscal risks through large-scale tax reduction legislation, coupled with new tariff threats from the U.S. to the European Union, which may elevate risk aversion sentiment and push gold prices higher, highlighting the value of sector allocation.

Related Concept Stocks:

Zijin Mining (02899): On May 26, Zijin Mining announced that it plans to spin off its holding subsidiary Zijin Gold International for listing on the main board of the Hong Kong Stock Exchange and plans to restructure and integrate multiple overseas gold mining assets under its subsidiary into Zijin Gold International before the listing. The assets intended for spin-off listing consist of eight world-class large gold mines located in South America, Central Asia, Africa, and Oceania.

Shandong Gold (01787): Shandong Gold's revenue for the first quarter of 2025 was 25.94 billion yuan, an increase of 36.8% year-on-year; net profit attributable to the parent company was 1.03 billion yuan, an increase of 46.6% year-on-year; basic earnings per share were 0.20 yuan LINGBAO GOLD (03330): LINGBAO GOLD announced that the company expects its net profit in the first quarter of 2025 to be no less than 250 million yuan. The announcement stated that the main reason for the performance growth is the company's response to rising market demand, fully ramping up production, with gold output significantly increasing compared to the same period last year. At the same time, the company's overall operational efficiency is also continuously improving, further strengthening cost control measures, and benefiting from the rise in gold prices during the same period