Breakfast | Hong Kong stocks delayed opening, Tesla is developing its own chips.
Due to the impact of Typhoon Signal No. 8, the Hong Kong securities and derivatives market has delayed its opening, and pre-market trading has been canceled. After canceling password sharing, the number of Netflix subscribers has reached a record high. Tesla claims that it is developing its own chips, AGI is bound to emerge, and xAI can surpass Alphabet-C Microsoft OpenAI. ZHIHU-W stated that vocational education will become the second growth curve, and first-quarter revenue has exceeded 100 million yuan.
Good morning! A wonderful day starts with making money.
The Hong Kong Stock Exchange announced that Typhoon Signal No. 8 is now in effect, and the securities and derivatives markets will open late. Pre-market trading for today will be canceled.
If Typhoon Signal No. 8 or above is still in effect at 9 a.m., the securities and derivatives markets will temporarily suspend trading in the morning. If the signal is still in effect at 12 noon, the market will be closed for the whole day.
Market Overview
US stock index futures open mostly flat
Top Stocks
Netflix reaches record high number of subscribers
The Times: After canceling password sharing, Netflix has reached a record high number of subscribers. This week, Netflix will announce its second-quarter performance.
Tesla claims to be developing its own chips, will not be called GPU or H100s
Tesla stated at the xAI conference that it is developing its own chips, but they will not be called GPU or be described as 100s or H100s. They also mentioned that Dojo2 will focus on large models.
Tesla: AGI will definitely appear, xAI can outperform Google, Microsoft, and OpenAI
AGI will definitely appear, and xAI will be involved, providing more competitive products than Google, Microsoft, and OpenAI.
Tesla unveils Cybertruck, will compete with Ford and Rivian in the electric pickup truck market
After a two-year hiatus, Tesla has produced its first Cybertruck at its factory in Texas, with a goal of producing 250,000 vehicles per year.
Sony and Microsoft reached a "binding agreement" on Sunday to address regulatory concerns that the merger could result in more games like Activision Blizzard's popular shooting game series becoming exclusive to Xbox.
NetEase Knowledge Highway Announces Closure
NetEase Knowledge Highway, a video content platform under NetEase, announced on its official website that it will cease operations completely on July 27th at 00:00 due to business adjustments.
Zhihu: Vocational Education to Become the Second Growth Curve
Zhihu Chairman Zhou Yuan stated that the company regards vocational education as its second growth curve. Zhihu's vocational education business has achieved a certain scale. In the first quarter of this year, the revenue of this business exceeded 100 million yuan for the first time and formed a brand matrix.
BYD's Half-Year Profit Increased 1.9-2.3 Times
BYD expects its net profit for the first half of the year to be between 10.5 billion yuan and 11.7 billion yuan, a year-on-year growth of 192.05% to 225.43%.
Three Major Mainland Airlines Narrowed Losses in the First Half of the Year
China Southern Airlines expects a net loss of 2.5 billion yuan to 3.3 billion yuan in the first half of the year, compared to a net loss of 11.488 billion yuan in the same period last year. China Eastern Airlines expects a net loss of 5.5 billion yuan to 6.9 billion yuan in the first half of the year, compared to a net loss of 18.736 billion yuan in the same period last year. Air China expects a net loss of 3.2 billion yuan to 3.9 billion yuan for the first half of the year.
IPO Opportunities
ZhongAn Smart Living Sets Price Limit, Conducts Grey Market Trading Today
ZhongAn Smart Living's Hong Kong IPO is priced at HK$1.18 per share, with a minimum trading unit of 2,000 shares. The public offering in Hong Kong was oversubscribed by approximately 1.84 times, while the international offering was oversubscribed by approximately 1.63 times. The shares are expected to be traded on the Main Board of the Hong Kong Stock Exchange on July 18th.
Macro and Strategy
96.1% Probability of a 25 Basis Point Rate Hike by the Fed in July
According to the CME "FedWatch," the probability of the Fed maintaining interest rates at 5.00%-5.25% in July is 3.9%, while the probability of a 25 basis point rate hike to the 5.25%-5.50% range is 96.1%.CICC: Declining Liquidity "Assists" the U.S. Stock Market
Due to the high probability of weakening financial liquidity in the third quarter, the support for the U.S. stock market from this perspective alone will be significantly weaker than in the second quarter. The third quarter is likely to be somewhere between the "strong" second quarter and the "weak" of last year. There may be some pressure in the fourth quarter before successfully pushing for loose monetary expectations, followed by a rebound.
CITIC Securities: Clear Turning Point, Hong Kong Stocks Climbing Again
After the low point of Hong Kong stocks in June, the recent release of the U.S. non-farm payroll data for July cooling down and the CPI for June lower than expected, both of which were previously constraining factors for the Federal Reserve's monetary policy, have moved in a positive direction. The marginal improvement in the liquidity problem that has troubled the Hong Kong stock market is expected to drive Hong Kong stocks to rise again.
Hong Kong SAR Government Issues HKD 50 Billion Silver Bonds
The Hong Kong SAR Government will issue HKD 50 billion silver bonds on August 18, with a minimum denomination of HKD 10,000 and a maturity of three years. Interest will be paid semi-annually at a guaranteed rate of 0.5%, higher than the previous rate of 0.4%.
Japan and India to Collaborate in Establishing a Semiconductor Industry Alliance
Japan will provide chips to the alliance, while India will help increase the number of local startups.
Expectations Rise for Interest Rate Cut on Existing Home Loans in Mainland China
The statement made by the Director of the Monetary Policy Department of the People's Bank of China, Zou Lan, regarding the expected interest rate cut on existing home loans has attracted great attention. It is revealed within the banking industry that specific details and plans will take some time to be formulated, including considerations such as how much to cut, to what extent, and the appropriate target audience.