JIAXIN INTL RES (03858) rose more than 17% against the general market trend, reaching a high of HK$115.8 and setting a new historical record. At the time of writing, the stock was up 15.89% at HK$113.4, with a turnover of HK$733 million. Recent reports indicate that the domestic tungsten market continued to show strong momentum in February 2026, with prices of key tungsten raw materials jumping significantly for several consecutive days. The cumulative increase for the month reached 30%, bringing the year-to-date gain to nearly 80%. Companies across the tungsten supply chain have recently initiated a new round of price adjustments, covering areas such as tungsten raw materials (including long-term contracts), tungsten alloy tools, and tungsten scrap recycling. Several firms stated in their price adjustment notices that the rise in tungsten prices remains the primary reason for this round of increases. Analysts point out that recent proposals by U.S. lawmakers to establish a $2.5 billion "Strategic Resilience Reserve," coupled with overseas efforts to increase strategic stockpiling, may position tungsten as a high-priority commodity. Additionally, China's announcement strengthening export controls on dual-use items to Japan, alongside reports of proposed increases in U.S. military spending, suggest that high inventory levels abroad could persist, further supporting upward price momentum.