Breakfast | Popular Chinese concept stocks fall, Ideal Car drops 10%, ChatGPT achieves "see, hear, speak"

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Market: Overnight and this morning's market

US stocks halt four-day decline, US long bond yields hit a more than decade high

The market is concerned whether the US Congress can resolve budget negotiation differences before October 1st, otherwise the US federal government will face a temporary shutdown. US stocks collectively rebounded, ending a four-day decline. The Dow Jones Industrial Average climbed back above the 34,000 mark, while the S&P and Nasdaq both recovered from their lowest levels in nearly four months since early June. Small-cap stocks halted a six-day decline, also recovering from their lowest levels in nearly four months.

Tech giants saw a general rise. Meta increased by 0.6%, Tesla rose by nearly 1%, Google Class A shares rose by 0.7%, Apple rose by 0.7%, Amazon rose by 1.7%, and Netflix rose by 1.3%; Microsoft rose by 0.2% after a six-day decline. Intel rose by 0.3%, AMD rose by over 1%, Nvidia rose by 1.5%, and Arm rose by 6% after a six-day decline. Faraday Future plummeted by 24% overnight, with a market value of only $55 million.

The decline in popular Chinese concept stocks significantly narrowed. JD.com fell by 2%, Baidu fell by 0.2%, and Pinduoduo rose by 0.8%. Alibaba fell by over 1%, Bilibili fell by 1.6%, Tencent ADR fell by over 2%, NIO fell by over 2%, Li Auto fell by about 10% to a three-month low, and XPeng rose by 1.5%.

What happened to blue-chip stocks and hot stocks

NIO clarifies $3 billion fundraising rumors: Currently, there are no reported financing activities.

OpenAI: ChatGPT can now "see, listen, and speak"

OpenAI will introduce new voice and image capabilities to ChatGPT, allowing users to have voice conversations or present questions in image format to ChatGPT.

Market news: Samsung plans to start laptop production in India next month.

Baidu releases its first large-scale model in the quantum field

Along with Baidu's native AI applications, Quantum Assistant and Quantum Writing Assistant, accelerating the deep integration of quantum technology and large-scale models.

Alibaba Cloud: Open-source 14 billion-parameter model Qwen-14B and its chat model Qwen-14B-Chat are free for commercial use

Alimama and Tencent Advertising further deepen cooperation

Premium advertising traffic from WeChat Video Accounts, Moments, Mini Programs, and more can directly jump to Taobao, Tmall merchants' stores, product details, and Taobao Live through Alimama's performance-based advertising.

Apple phones cannot be charged with Huawei chargers

Apple customer service stated that the inability to charge is indeed due to the lack of support for the PD protocol, and third-party data cables cannot guarantee charging and may cause problems to the device.

Amazon expands its presence in the AI field

Amazon will invest up to $4 billion in artificial intelligence startup Anthropic. Once the full $4 billion is realized, it will also become the largest single investment in a startup with a clear record since the AI boom began. Oracle agrees to prepay $104.1 million to acquire processor chips produced by startup Amper

The aim is to enhance its cloud service advantage. In addition, Oracle also invested $400 million in Ampere through convertible notes.

News: Nvidia places another order for AI chips, TSMC urgently increases CoWoS equipment purchase

The above news has driven subsequent doubling of order volumes for supply chain manufacturers such as UMC and VIS, and UMC and VIS may raise prices. According to the supply chain, the number of 3nm new designs at TSMC has surged, and the monthly production capacity of the 3nm family will increase from the current approximately 60,000 wafers to 100,000 wafers in the second half of next year.

Tesla expands its factory in Texas, USA

Jason Sean, the production director of Tesla's factory in Austin, Texas, said that Tesla is expanding the factory with the goal of hiring up to 60,000 employees, several times more than the current number, to prepare for mass production of the Cybertruck electric pickup truck.

Evergrande Real Estate: "20 Evergrande 04" bond fails to pay principal and interest as scheduled

Evergrande Real Estate Group Co., Ltd. announced that the repurchase scale of "20 Evergrande 04" totals 4 billion yuan, and the company failed to pay the principal and interest of the bond as agreed.

Macro: Take a look at the world with us

S&P: Raises US economic expectations for this year, expects the next two years to be below trend levels

The US economy will slow down for the rest of 2023 and be below trend levels in the next two years. It is expected that the US economy will grow by 2.3% this year, higher than the 1.7% forecast in June. It is expected that the Federal Reserve will raise interest rates once during this tightening cycle.

Goldman Sachs: Rising oil prices unlikely to prompt the Federal Reserve to tighten monetary policy

Rising energy prices are unlikely to cause a decline in US consumer spending and GDP. The increase in oil prices is lower than in previous rounds, and the increase in energy industry investment should offset the negative impact of rising costs. It is expected that the recent trend in oil prices will not cause inflation expectations to deviate, thereby forcing the Federal Reserve to take policy measures.

Hedge funds reduce leverage at the fastest pace since 2020

Goldman Sachs stated that hedge fund investors have increased bearish bets, reducing the net leverage ratio by 4.2 percentage points to 50.1%. This is the largest weekly decline since the bottom of the pandemic bear market. Hedge funds tracked by JPMorgan also increased short-selling activities and reduced the net leverage ratio at a pace not seen since October last year.

The 10th China-EU High-Level Economic and Trade Dialogue

China's Ministry of Commerce: The two sides had pragmatic, frank, and fruitful discussions on four topics: macroeconomic, trade and investment, industrial and supply chain, and financial cooperation. The two sides have reached a series of achievements and consensus on macroeconomic policy coordination, industrial and supply chain cooperation, improvement of the business environment, WTO reform, two-way opening of the financial industry, and regulatory cooperation.

Characteristics of the bottom of the Hong Kong stock market are emerging, and southbound funds are entering at an accelerated pace

Some industry institutions and experts believe that the characteristics of the bottom of the Hong Kong stock market are more obvious, and some high-quality industry sectors and individual stocks are experiencing a good buying opportunity. From the perspective of fund flows, southbound funds are also entering at an accelerated pace.