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2023.11.26 23:41
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Breakfast | November may be the best month for the US stock market this year, CICC is bullish on Hong Kong stocks, expecting at least a 10% increase.

Alibaba DAMO Academy responds to rumors of "Quantum Laboratory may have been disbanded". Guohong Hydrogen Energy initiates subscription. Global investors are selling the US dollar at an unprecedented rate. The first Saudi ETF in Asia will be listed on the Hong Kong Stock Exchange. CHANGAN AUTOMOBILE and Huawei collaborate to build an open platform for electrification and intelligence in the automotive industry, according to Yu Chengdong. The longest "Black Friday" in history has poor sales. Japan will expand tax exemptions for stock options, and the Tokyo Financial Exchange will launch a loan trading platform.

Good morning! A wonderful day starts with making money.

Market: Overnight and this morning's market

US stock index futures opened slightly lower on Monday, with Nasdaq futures down 0.22%. Spot gold opened up 0.4% at $2005.1 per ounce, while the main contract for US oil opened down 0.2% at $75.31 per barrel.

What happened to blue-chip stocks and hot stocks

Asia's first Saudi ETF will be listed on the Hong Kong Stock Exchange on November 29th

Investors will be able to trade the Saudi stock market index constituents directly in Hong Kong dollars or renminbi through ETFs, including Saudi Aramco. This ETF has the largest asset size among similar products worldwide.

Changan Automobile: Signed a "Memorandum of Investment Cooperation" with Huawei

Huawei plans to establish a company engaged in the research, design, production, sales, and service of intelligent automotive systems and components. Huawei will inject relevant technologies, assets, and personnel into the target company. Changan Automobile plans to acquire equity in the target company, with a proportion not exceeding 40%. The specific equity ratio, amount of investment, and duration will be negotiated separately by both parties.

Huawei denies rumors of selling its car business unit, Yu Chengdong says it will build an open platform for electrification and intelligence with the participation of the automotive industry

Yu Chengdong, Chairman of Huawei's Intelligent Car Solutions Business Unit, said that China needs to build an open platform for electrification and intelligence with the participation of the automotive industry, a platform with a "locomotive". Huawei will deepen cooperation with Changan and work together with more strategic partner automakers.

CITIC Securities: Changan Automobile and NIO cooperate to accelerate the scale-up of battery swapping and the penetration of pure electric vehicles

Battery swapping networks have strong economies of scale, and ecological openness is expected to achieve win-win results for both parties. In the medium to long term, battery swapping and high-voltage fast charging technologies help alleviate range anxiety for pure electric vehicles, thereby accelerating the penetration of pure electric vehicle models.

Alibaba DAMO Academy responds to rumors of "dissolution of the quantum laboratory"

In order to further promote the coordinated development of quantum technology, DAMO Academy is collaborating with Zhejiang University to develop quantum technology. DAMO Academy will donate the quantum laboratory and transferable quantum experimental equipment to Zhejiang University, and open them to other universities and research institutions.

IPO opportunities

Guohong Hydrogen Energy plans to globally issue 79.52 million shares, with a public offering price of HKD 19.35-21.35 per share in Hong Kong. H shares are expected to be listed on December 5th.

Macro: Taking you to see the world

According to CME's "Fed Watch": The probability that the Fed will maintain interest rates in the range of 5.25%-5.50% in December is 95.5%, and the probability of a 25 basis point rate hike is 4.5%.

Global investors are selling the US dollar at a pace not seen in the past 20 years

State Street, the world's largest custodian bank, said that global asset management institutions sold nearly 1.6% of their US dollar positions in November, reaching a new high in the speed of "selling the US dollar" since November 2022.The longest "Black Friday" in history did not bring prosperity

Many businesses have expressed that this year's "Black Friday" was very bleak, especially for sellers on the Amazon platform, with sales of some brands being cut in half. Businesses say that price wars may continue next year.

November may be the best-performing month for US stocks this year

Investor confidence comes from the expectation that the Federal Reserve has completed interest rate hikes and is expected to shift early while achieving a soft landing in the economy. The VIX panic index has fluctuated and hit a new low for the year. However, profit-taking pressure for investors and whether US bonds can continue to rebound may become short-term uncertainties.

Some institutions are beginning to emphasize the possible adjustment of US stocks in early next year

And predict that next year may present a "suppress and then rise" trend. CICC predicts that the rhythm of US stocks may be "suppress and then rise", waiting for the "turning point" of US bond interest rates. The previous pressure comes from weak profits in the first half of the year, high interest rates, and tightening liquidity.

CICC: Hong Kong stocks are gradually bottoming out, benchmark scenario has 10%-15% upside potential

In the short term, grasp the potential for a recovery rebound, and recommend that investors pay attention to oversold rebounds or high-beta sectors, especially interest rate-sensitive industries such as biotechnology, technology hardware, the internet, and new energy.

Guotai Junan Securities: Reality and sentiment are expected to gradually improve, focus on Hong Kong stock investment opportunities in 2024

Under the background of positive policy bias and expected improvement in price factors, it is expected that the nominal GDP in 2024 will rise, and the 10-year government bond yield is also expected to fluctuate upward. As Hong Kong stocks have greater elasticity when reality strengthens, the Hong Kong stock market is worth investors' attention next year.

Nikkei News: Japan will expand tax exemptions for stock options; Tokyo Financial Exchange will launch a loan trading platform.

Japanese media: Japan is considering adjusting consumption tax regulations for overseas tourists.

The Ministry of Finance of South Korea stated that from January 2024, tax refunds for foreign tourists will double.

UK Prime Minister Sunak: Tax cuts are the current direction.

Malaysia will implement a 30-day visa-free entry policy for Chinese and other tourists from December 1st.