Breakfast | Everything points to the Fed's halt in interest rate hikes, Hong Kong's financial secretary says reducing stamp duty is not enough to stimulate Hong Kong stock trading.
Today, the US stock market is closed. Keap has made architectural adjustments to its R&D line. Musk said that the video views on the X platform have roughly doubled since last year. Meituan's "God Snatcher" live streaming business has been launched in 7 cities including Beijing and Shenzhen. Meta has released the open-source dataset FACET to address AI model fairness issues. European pharmaceutical giant NovoNordisk has become the market value leader in Europe thanks to its miraculous weight-loss drugs. Yiming Angke-B will conduct dark pool trading today and will be listed tomorrow. It is rumored that Arm's IPO in the US will be priced at $47-51 per share.
Good morning! A wonderful day starts with making money.
Today, the US stock market and the Canadian stock market are closed for Labor Day. The Vietnamese stock market is closed for Independence Day.
Market: Overnight and this morning
Spot gold and US stock index futures opened basically flat, while WTI crude oil opened slightly lower.
What happened to blue-chip stocks and hot stocks
Musk: Views on the X platform's videos have roughly doubled since last year
Hong Kong Aerospace: Enters into a strategic cooperation agreement with the Mexican Aerospace Agency
Kuaishou R&D Department undergoes structural adjustments
According to reports, Kuaishou has abolished the Basic Technology Department and established the Basic Platform Department and Infrastructure Department. The relevant teams and responsibilities of the original Basic Technology Department have been incorporated into the two newly established departments. The former head of the Basic Technology Department, Wei Bin, has been appointed as the company's technical advisor and reports to Kuaishou's Senior Vice President, Yu Bing. This is an important adjustment to Kuaishou's R&D department after the resignation of CTO Chen Dingjia.
Meituan: "God Hand" live streaming business goes live in 7 cities including Beijing and Shenzhen
Meta launches open-source dataset FACET to address AI model fairness issues
FACET is used to identify racial and gender biases in computer vision systems.
"Miracle weight-loss drug" dominates European market value rankings
Wegovy, a weight-loss drug that has been popularized by Tesla founder Musk and regarded by many as a "miracle weight-loss drug," has propelled its manufacturer, Danish pharmaceutical giant Novo Nordisk, to surpass luxury goods giant LVMH and become the highest-valued company in Europe.
New listing opportunities
Yiming Angke-B: Hong Kong IPO offering price of HKD 18.60 per H share
Yiming Angke-B's Hong Kong offering has received approximately 9.98 times oversubscription. It is expected that H shares will begin trading on the Main Board of the Stock Exchange of Hong Kong on September 5th, with a board lot size of 200 shares and stock code 1541.
Arm rumored to price its US IPO at $47-51 per share
According to insiders, based on the proposed range, Arm's valuation is approximately between $50-54 billion, and the IPO size is $5-5.4 billion. Apple, Nvidia, Intel, and Samsung will all become strategic investors in Arm's IPO. Hong Kong's First De-SPAC Transaction
Aquila, the first SPAC (Special Purpose Acquisition Company) listed on the Hong Kong Stock Exchange, has signed a business merger agreement with Zhaogang.com. If the transaction is successfully completed, Zhaogang.com will submit an application for listing in Hong Kong using the De-SPAC (Special Purpose Acquisition Company Merger and Listing) model. This is the first merger and acquisition transaction to occur after the introduction of the SPAC listing model by the Hong Kong Stock Exchange.
Macro: Taking You Around the World
Hong Kong Observatory: Typhoon Signal No. 1 to Be in Effect for Most of Today
According to the current predicted path, Typhoon Anson will cross the Taiwan Strait today (September 4) and maintain a distance of over 400 kilometers from Hong Kong. Whether a higher tropical cyclone warning signal needs to be issued will depend on the changes in the strength of Typhoon Anson and its distance from the Pearl River Estuary.
Hong Kong's Liquidity Enhancement Task Force to Hold Meeting This Week
Hong Kong Financial Secretary Paul Chan Mo-po stated that it is necessary to comprehensively examine all factors affecting the Hong Kong stock market, identify the root causes of the problems, and develop comprehensive and integrated solutions. Otherwise, scattered stimulus measures will not only fail to boost market conditions but may also further weaken investor confidence, resulting in counterproductive effects.
Chan Mo-po pointed out that stamp duty is not the root cause of the problem. Data shows that reducing the stamp duty on stock trading is not sufficient to structurally and sustainably stimulate stock market transactions.
US Stock Funds Experience Fifth Consecutive Week of Outflows
In the seven days ending August 30, investors withdrew funds from US stock funds for the fifth consecutive week, driven by investor risk aversion ahead of the upcoming inflation and non-farm payroll reports.
Economic Data "Just Right," Pointing to the Fed's Halt in Rate Hikes
With the cooling of the US labor market in August, market expectations for the Federal Reserve to halt rate hikes have further strengthened.
Japanese and British Governments to Jointly Invest in Key Minerals in Africa and Other Regions
Japan and the UK will also establish a ministerial-level economic security discussion framework, with supply chains being one of the topics. The goal is to cooperate in the development of mines and ensure stable mineral supply. It is expected that the ministers will agree to draft a joint document on investment in key minerals by the end of the year.
Research on Real Estate Market in First-tier Cities in Mainland China: "Recognizing Property, Not Recognizing Loans"
There has been a pulse-like increase in transaction volume in the Beijing and Shanghai real estate markets, while the Shenzhen market has also shown signs of recovery, and the Guangzhou market has remained relatively flat. Both new and second-hand housing prices in Beijing, Shanghai, Guangzhou, and Shenzhen have remained stable. One property in Beijing achieved sales of over 5.6 billion yuan in a single day.
Guotai Junan: Hong Kong's Real Estate Chain May See Rebound Investment Opportunities
Although the prosperity of the real estate market has declined, policy expectations continue to heat up, driving a rebound in Hong Kong's real estate chain. During the China International Trade in Services Fair, the leaders of the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange made statements at the 2023 China International Financial Annual Forum. Deputy Director of the State Administration of Foreign Exchange, Zheng Wei, stated that there is abundant export momentum for green products such as new energy vehicles, lithium batteries, and photovoltaics, which supports the reasonable surplus scale of China's current account.