Changes in Hong Kong stocks | CGN Mining (01164) rose more than 5% in early trading, China's newly approved 8 nuclear power units SPUT increased its holdings of physical uranium for two consecutive weeks

The Zhitong Finance App learned that CGN Mining (01164) rose more than 5% in early trading. As of press release, it had risen 3.42% to HK$2.57, with a turnover of HK$31.13,300.

According to the news, on July 31, the Executive Meeting of the State Council approved four nuclear power projects including the Zhuanghe Phase I Project in Liaoning, for a total of 8 units. In addition, SPOT's listed physical uranium trust purchased 100,000 pounds of physical uranium on July 29 and 30, respectively. In total, 200,000 pounds of physical uranium were purchased during the week, adding 50,000 pounds of physical uranium purchased on July 21. It has been increasing its holdings for 2 consecutive weeks.

Shen Wan Hongyuan pointed out that this round of physical investment fund procurement will separate tradable inventory from the spot market, confirming that the capital side is optimistic about the tight balance pattern of natural uranium driven by nuclear power expansion. Financial buying continues to gain strength, which resonates with the demand of the nuclear power industry, tightens spot liquidity in the short term, and provides strong support for uranium prices.