Hong Kong stock market noon review | Hong Kong's three major indices fell back, the technology index fell more than 1%; automobile stocks weakened, NIO Inc fell more than 7% after its results.
Wind power stocks rose, with Datang Renew up nearly 7%, China Longyuan up over 5%; golden industrial concept rose, with Lingbao Gold up nearly 5%, Zhaojin Mining up over 2%.
Midday Overview | Hong Kong stocks opened high and fell low, ChiNext fell more than 1%; wind power stocks rose against the trend, Datang Renewables rose more than 5%.
NIO Inc. fell more than 7% after the earnings report, with an expanded loss in the first quarter and a decrease in the average price and delivery volume of autos.
Meituan earned 7.49 billion yuan in the first quarter. Wang Xing stated that expanding overseas will not blindly spend money. Directly addressing the earnings conference.
In the first quarter of 2024, Meituan achieved a revenue of 3.3 billion yuan, a year-on-year increase of 25%; the net profit was 5.4 billion yuan, compared with 3.4 billion yuan in the same period last year; GTV of the travel and hotel segment in the first quarter increased by more than 60% year-on-year, and the annual trading users increased by more than 37% year-on-year; Wang Xing said that overseas expansion will become a very important part of long-term growth.
EVTank: In 2023, the shipment of sodium-ion batteries is only 0.7 GWh, and industrial development is far below expectations.
According to EVTank statistics, the actual shipment volume of sodium-ion batteries in China in 2023 was only 0.7 GWh, far lower than the previously predicted 3 GWh.
Meituan Phone Meeting: accumulated over 100 million members, Q2 on-demand order growth will return to normal, increasing live broadcasting efforts.
Meituan stated that overseas expansion is an important direction for the long-term growth of Meituan. Meituan Maicai plans to expand to the global market but will remain cautious. At the same time, the company empowers businesses with AI, attracts consumers by issuing a large number of coupons and providing discounts on popular products. In addition, the company is increasing its efforts in live-streaming activities and penetrating lower-tier markets to adapt to the transformation of consumer downgrading. Furthermore, Meituan's emerging businesses, such as bike sharing and power bank rentals, are leading the industry.
Futu Morning Post | European Central Bank lowered interest rates as scheduled by 25 basis points; Gamestop rose more than 30% in after-hours trading.
According to Goldman Sachs, the US stock market will continue to rise in the second half of the year, but there should be "moderate expectations" for the remaining time of the year's ROI; while for Morgan Stanley, the recent drop in international oil prices is only temporary, and it is expected to rise again in the coming months.
Tencent invests in former chief scientist of Hengrui, and the hemophilia drug enterprise Shengshi Biotechnology completes series D financing.
Recently, Shengsi Biology announced its Series D financing, with participating institutions including Tencent Investment and Zhangjiang Science and Technology Investment. The company's chairman, Wang Yali, was previously the chief scientist at companies such as Jiangsu Haosen and Jiangsu Hengrui.
US stocks closed with mixed movements. S&P and Nasdaq hit intraday highs before falling back, while Nio Inc. dropped nearly 7% after reporting earnings.
Chip index and Taiwan Semiconductor's US stock fell from the record high, and after Nvidia reached a new historical high for three consecutive days, it fell back.
Pdd Holdings disrupts the big player's table.
Automatic pricing.
Is Tesla going to partner with BYD Company Limited this time?
From the rumored power battery to the current energy storage battery, can it be implemented this time?
Express News | Tencent: Repurchased 2.62 million shares on June 6, costing approximately HKD 1.004 billion.
Meituan's Q1 revenue was ¥73.276 billion, a year-on-year increase of 25%.
Adjusted net income in Q1 was RMB 7.488 billion, a year-on-year increase of 36.4%.
Hong Kong stock market quick review | Three major indices fluctuated and closed up, with apple supplier stocks rising, AAC Tech up more than 7%, mainland real estate stocks falling, Sunac down more than 12%.
There are divergent trends in network technology stocks, with Netease rising over 3% and JD.com falling nearly 2%; Coal industry concepts are on the rise, with China Coal Energy up nearly 4% and China Shenhua Energy up over 3%.
Hong Kong stock market noon report: Three major indices rose together, with the technology index rising more than 1%; Golden industrial concept and semiconductor stocks rose, Zhaojin Mining rose nearly 7%, and Hua Hong Semiconductor rose nearly 8%.
Network technology stocks fluctuated, Netease rose nearly 4%, and Kuaishou fell 2%; port and shipping stocks rose across the board, Cosco Shipping Holdings increased by more than 4%, and OOIL rose nearly 3%.
Mid-day Review | The three major indices fluctuated and rebounded, with the semiconductor sector rising and Hua Hong Semi up over 7%.
The Hang Seng Index rose by 0.95%, the Technology Index rose by 1.71%, and the National Index rose by 0.81%. The shipping and ports sector strengthened, with Cosco Shipping Holdings rising by 7%. The golden industrial concept rebounded, with SD Gold rising by over 5%.
US stock market closing | The three major indexes rose together, with the S&P and Nasdaq hitting new highs! Taiwan Semiconductor rose nearly 7% to a new all-time high.
ASML Holding surged more than 9% on the US stock market, becoming the second-largest European listed company.
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US stock outlook | The “small farmers” data fell short of expectations, and the increase of the three major futures indices narrowed slightly; swap pricing, the Federal Reserve cut interest rates may be brought forward to November
Expectations of interest rate cuts by US bond traders are heating up, with overnight indexed swap pricing indicating the Federal Reserve may cut rates as early as November. Others fear, but I am greedy! After a $400 billion crash, multiple funds are choosing to buy into the Indian stock market.
Express News | On June 5th, Tencent bought back 2.62 million shares, costing approximately HKD 1.002 billion.