Breakfast | Chinese Internet companies rebound strongly, JD.com and PDD rise more than 7%, Microsoft hopes to bid for the contract to develop Firefox browser.
Blue-chip technology stocks save the NASDAQ Composite Index, with many Chinese internet stocks rising sharply. Alibaba rose 6%, while TuSimple plummeted 30%. Tesla claims to have found a new CEO for Twitter, which stimulated Tesla's late rally. Microsoft hopes to bid for the contract to develop Firefox browser, whose contract with Alphabet-C will expire this year. A gamer sued Microsoft for acquiring Activision Blizzard, claiming it damaged competition.
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Market Overview
Chinese concept stocks generally rose, with JD.com up 7.21%, PDD up 7.05%, and Alibaba up 5.93%.
Top Stocks
The founder of Binance US, Zhao Changpeng, is seeking to reduce his holdings.
Musk announced that Twitter will have a new CEO, and it can be confirmed that it is a woman.
Apple is facing an antitrust investigation in Italy for its dominant position in the app market.
IPO Opportunities
HORIZON CD launches IPO, plans to issue 365 million shares globally.
[Saudi Aramco's IPO plan for its energy trading department may be postponed until next year.](https://longportapp.cn/en/news/87438644? force=1&app_id=longbridge)
Macro and Strategy
The debt ceiling negotiations between Biden and Capitol Hill have been postponed until next week, and the US Treasury's cash depletion rate is accelerating.
A working group composed of the Hong Kong Stock Exchange, the Securities and Futures Commission, and the Monetary Authority is drafting a plan to allow normal trading during typhoons and heavy rain.
