The three major A-share indices collectively closed higher, with N Moer rising over 425%

36Kr learned that the three major A-share indices collectively closed higher, with the Shanghai Composite Index rising by 0.7%, the Shenzhen Component Index rising by 1.08%, and the ChiNext Index rising by 1.36%; N Moer surged over 425% on its first day of listing; rare earth permanent magnets and CPO concepts led the gains, with JLMAG rising over 8% and TFC rising over 6%; the gas, banking, and catering tourism sectors weakened, with China Resources Gas falling over 9%, Chongqing Bank falling over 3%, and Tianfu Cultural Tourism falling over 2%

The A-share rare earth permanent magnet sector experienced a surge, with Yunsheng hitting the daily limit, JLMAG rising over 10%, and Zhong Ke San Huan, Rnm, Earth-Panda, Galaxy Magnets, and Zhong Ke Magnetic Materials all climbing sharply

Some directors and senior management personnel of JLMAG plan to reduce their holdings by no more than 0.15% of shares

JLMAG announced that some directors and senior management plan to reduce their holdings by no more than 2.1061 million shares, accounting for 0.15% of the company's total share capital, between November 24, 2025, and February 23, 2026, through centralized bidding or block trading

Zhitong Hong Kong Stock Analysis | Sino-U.S. Talks Land to Welcome Development Period, Strategic Resource Sector Collective Explosion

Hong Kong stocks opened high due to the Federal Reserve's interest rate cut, but plummeted sharply in the afternoon, with the Hang Seng Index closing down 0.24%. The Federal Reserve cut interest rates by 25 basis points, and Powell's speech was hawkish, suggesting a high possibility of a rate cut in December. The meeting between the Chinese and U.S. leaders did not meet expectations, causing panic in the market, while rare earth and gold stocks rose. The outcomes of the meeting included the U.S. side canceling the 10% tariff on fentanyl-related goods from China, which satisfied the market

Understanding the Market | JLMAG surged over 9% in the afternoon after the conclusion of the China-U.S. leaders' meeting, with the company's third-quarter results showing significant growth both year-on-year and quarter-on-quarter

JLMAG surged over 9% in the afternoon, and as of the time of writing, it rose 6.1% to HKD 24.66, with a transaction volume of HKD 670 million. On the news front, according to CCTV News, on October 30th local time, President Xi Jinping met with U.S. President Trump in Busan, South Korea. The meeting lasted about 1 hour and 40 minutes and concluded. Asian rare earth stocks widened their losses after Trump's speech, with Australia's Lynas stock price dropping by as much as 4.1%, Iluka down 3.5%, Arafura Rare Earths down 6.7%, Australian Strategic Materials down 6.8%, and Northern Minerals down 13%. In addition, Minsheng Securities released a research report stating that JLMAG achieved a net profit attributable to the parent company of 515 million yuan in the first three quarters of 2025, a year-on-year increase of 161.81%. In the third quarter alone, the company achieved a net profit attributable to the parent company of 210 million yuan, a year-on-year increase of 172.65% and a quarter-on-quarter increase of 45.75%, in line with the performance forecast. The company's net profit attributable to the parent company saw significant growth both year-on-year and quarter-on-quarter, mainly benefiting from the simultaneous increase in both volume and price of magnetic material products