Market expectations for a Fed rate hike have decreased, and Hong Kong stocks are expected to see capital inflows. If relevant policies are implemented in the future or economic data confirms a recovery, Hong Kong stocks are expected to return to an upward trajectory. Pay attention to technology stocks such as semiconductors, communications, and electronics!

Market sentiment is improving, and it's time to seize opportunities in the Hong Kong stock market!

Worrisome concerns include: global stock market EPS is declining, with particular caution warranted for the US stock market! Over the past four weeks, earnings expectations for the S&P 500 index have once again decreased and may continue to decline in the third quarter.

US Stock Market Key Five Charts | Investors Go on a Buying Spree, Semiconductor Stocks Reach New High Valuations, but AI Stocks Have Stalled

Japan goes all out to boost AI, can it recover the lost thirty years?

Japan's "AI Ambition": Chips Surpassing NVIDIA, Establishing "Universal Basic Income" to Address Unemployment

新加坡股市 4 日报：比亚迪 5 倍做空权证遭大规模抛售

比亚迪巴西生产基地综合体计划于 2024 年下半年投产，将由三座工厂组成，分别为一座主营电动客车和卡车底盘的生产工厂、一座新能源乘用车整车生产工厂，以及一座专门从事磷酸铁锂电池材料的加工工厂。其中，新能源乘用车整车生产产线涵盖纯电动和插电式混动车型，计划年产能达 15 万辆。

比亚迪宣布在巴西设立大型生产基地综合体，总投资额达 30 亿雷亚尔

在经历了长达数月的深度冻结后，市场对新股的兴趣终于在 6 月份回暖。

美股新股市场回暖，上半年药企 IPO 成绩单出炉

2022 年中国镓产品的最大进口国是日本、德国和荷兰；锗产品的主要进口国是日本、法国、德国和美国。在中国实行出口管制后，外方要寻找替代方案并不容易。

中国镓锗出口管制影响有多大？

日花 200 万、对标地平线：黑芝麻智能冲刺自动驾驶第一股

TM ADR US claims to have developed a method to improve battery durability, which will enable electric vehicles to achieve a range of 1200 kilometers and reduce charging time to 10 minutes. They express sufficient confidence to achieve mass production of solid-state batteries by 2027 or 2028.

TM ADR US sets new goals for solid-state batteries: "halving" in size, weight, and cost!

Economists say that despite the Federal Reserve's tightening of policy at the fastest pace since the 1980s, soaring inflation is pushing interest rates in the US economy to rise at an even faster pace.

The latest research from the Federal Reserve: Interest rate cuts may not happen until 2026!

据财新：6 月财新中国服务业 PMI 降至 53.9，连续六个月扩张。

港股汽车股震荡走强，小鹏汽车涨超 3%，蔚来汽车涨超 2%，华晨中国、北京汽车等跟涨。

港股开盘，恒指开跌 0.31%，科指开跌 0.25%。内房股小幅走弱，融创中国跌约 2%，碧桂园跌约 1%。

四个月的时间，两个 “老王” 在 AI 赛道上完成了一次 “二人转”。

王兴为王慧文兜底：美团正式卷入大模型之战

美国散户正在跑步进入美股市场，他们投入的空前资金量有可能为其赋予比两年前的 “散户大战华尔街” 更强的市场影响力。彼时，业余散户因为疫情被困在家中，机缘巧合地推高了几家陷入困境的小型消费品公司的股价，比如电子游戏零售商 GameStop、影院运营商 AMC 和家居用品连锁公司 Bed Bath & Beyond。现在，他们的摊子铺得更广了，表明在去年遭遇广泛亏损后，散户们的胃口又大了起来。

美股散户资金量创新高：网红股卷土重来

专家表示，中国云服务市场由阿里、腾讯等 6 家国内企业主导，而亚马逊和微软在中国的市场份额较小，拜登政府通过限制向中企提供云服务打压中国 AI 的效果或许并不会很明显。

美媒传美方想限制中企使用 “美国云”，专家：打压正走向极端

Meta application Threads is scheduled to launch in the United States and the United Kingdom, but the app store in some European countries has not yet displayed it. Apple faces a $7 billion compensation for 4G patent infringement. TENCENT responded that it may cooperate with Meta VR headset, but declined to comment further. TENCENT will release a self-developed vector database for large-scale model training. Moderna plans to invest $1 billion in projects in China. Alibaba denies rumors about Youku and Tudou. The CEO of Yahoo plans to relist the company.

Breakfast | Massive long positions in US stock futures imply downside risks for US stocks, ChatGPT's traffic declines for the first time.

瑞银警告称，不要指望美股上半年的强劲走势会持续太久，高利率和经济增长下滑将扼杀股市反弹。该行在周二的一份报告中表示，股市目前的涨势将被证明是不可持续的，美联储进一步收紧政策的威胁或疲弱的经济数据都可能破坏目前市场的乐观情绪，“投资者应该为今年剩余时间股市表现更加低迷做好准备。

瑞银警告：美股涨势不会持久，高利率和经济衰退将扼杀反弹

花旗策略师表示，投资者在 6 月底大举买入美国股市看涨期货，使得头寸看起来 “非常庞大”，增加了回调的风险。

下半年涨势玄了？花旗：美股衍生品仓位显示出回调风险

Meta 的 Threads 应用程序是这个星期推出的社交网络应用。根据苹果公司的 App Store 上的列表，此应用预计将于星期四开始运营。但截至上周二，包括德国和比利时在内的一些欧盟国家的应用商店尚未显示 Threads。

Meta 应用程序 Threads 在美国和英国预定上线，但部分欧洲国家应用商店尚未显示

电商 Shein 正与高盛、摩根士丹利、摩根大通等至少三家投行就其潜在的美国 IPO 事宜进行接触，该公司一直在与纽交所和纳斯达克证交所沟通。

Alphabet-C's CEO Sundar Pichai, the parent company of Alphabet-C, earned $226 million in compensation last year, ranking second. Following closely behind are Stephen Scherr, CEO of the American car rental giant Hertz, and Barry McCarthy, CEO of fitness equipment company Peloton. Michael Rapino, CEO of entertainment company Live Nation, ranks fifth with an income of $139 million.

Counting the CEOs with billions of dollars in income: Blackstone's boss ranks first with over $250 million

European stock indices rebounded slightly, with the real estate sector rising 2.8% and Swedish commercial real estate giant SBB surging nearly 16%. However, stock indices of major eurozone economies such as Germany fell across the board, and Italian stocks fell from their highest level since 2008. Saudi Arabia and Russia announced measures to limit supply, supporting a rebound in crude oil prices, with Brent crude reaching a two-week high. Gold continued to rise. London copper fell from its highest level in over a week, while London zinc rose nearly 2%, reaching a high not seen in over a week. The Japanese yen rebounded during the session, failing to approach its seven-month low; offshore renminbi rose more than 300 points during the session.

US stocks closed for the day, real estate stocks supported European stocks rebounded, Saudi Arabia and Russia exerted efforts, and crude oil rose more than 2%.

网络分析公司 Similarweb 统计数据显示，ChatGPT 全球访问量环比在 6 月份下滑 9.7%，为其推出以来首次。天使投资人、资深人工智能专家郭涛表示：“当前，中国 AGI 市场进入 ‘百家争鸣’ 时代，但同时已有泡沫化现象出现，例如初创企业估值虚高、上市公司大股东近期频频减持套现等，业界要警惕相关风险。

ChatGPT 访问量首次下滑，专家提醒警惕泡沫化风险

7 月 4 日，中信集团官网发布严正声明称，有不法分子冒用中信集团子公司名义设立公司，并列出 18 家 “假中信” 公司的名单。

突发！中信集团，严正声明！

Some analysts believe that with factors such as the maturation of the domestic market and intensified competition, the cost of acquiring new customers for Chinese car manufacturers has become very high. In addition, the price war among various car brands at the beginning of the year has also led many car manufacturers to see overseas expansion as a more reliable path to growth. Moving towards Southeast Asia is an important step for Chinese automotive companies to go global.

BYD sold like hotcakes in Thailand, Chery, Changan, SAIC Motor, and Hezhong all want a piece of the action!

世界第二大汽车制造商丰田公司周二表示，已经在电池技术上取得了重大突破，能够将电池的重量、体积和成本减半，这可能为电动汽车的进步带来巨大的推动力。丰田公司碳中和研发中心的总裁海田敬二说，“无论是液态电池还是固态电池，我们都致力于改变目前电池过大、过重、过贵的局面，在这方面的潜力上，我们将争取将这些因素减半。” 海田说，该公司已经开发出了提高电池耐久性的方法，并相信现在可以制造出续航里程为 1,200 公里的固态电池，充电时间为 10 分钟或更短。据《金融时报》报道，该公司预计将在 2027 年开始为电动汽车生产固态电池。

丰田称在固态电池技术上取得重大突破：10 分钟充满能跑 1200 公里

Morgan Stanley analysts believe that Tesla's inventory is still increasing and prices will continue to drop. Tesla will become the ultimate winner in the electrification of the American automotive market, while other traditional car manufacturers will suffer a heavy blow.

Goldman Sachs: Tesla's deliveries expected to reach 1.9 million this year.

Recently, Meta Platforms has launched 22 different explanatory cards, explaining how AI affects the content users see on Facebook and Instagram.

Living in Algorithms? Meta's Heavyweight Release: Algorithms Precisely Grasp You

XPENG-W has thrown out an "ace"

据第一财经，日前从多名消息人士处证实，美国疫苗厂商 Moderna 公司将最早于本周三在上海正式宣布对华投资项目。这将是 Moderna 公司对中国的首次投资。据了解，Moderna 在中国的投资规模有望创下上海近期外商投资新高。

美国疫苗厂商 Moderna 将宣布对华首次投资，规模或达 10 亿美元

有消息称阿里集团正重新评估视频资产，考虑 “二选一”，即优酷如果不能打，就重启土豆网或者进行重新整合，不排除外部资源介入。对此，阿里内部人士表示：“假的，没有的事。这假消息的逻辑都没有。

阿里正重新评估视频资产优酷与土豆 “二选一”？内部人士：假消息

Aston Martin joins hands with a new force in the United States.

Transitioning to electric power, even top-tier supercars are feeling the pressure.

According to the Guggenheim, although Tesla delivered a strong quarterly delivery data, its pricing and profit margin setting "remains negative" and carries high risks. However, Goldman Sachs believes that by 2030, the overall penetration rate of electric vehicles will increase at a slower pace, but Tesla's market share will still exceed expectations.

Big Move Speed View | Why does Wall Street recommend selling Tesla before the second quarter report? CLOUD MUSIC target price gets raised!

国务院任免国家工作人员，免去郭树清的中国人民银行副行长职务。

Apple's Vision Pro has been reported to reduce production to 400,000 units next year. But why shouldn't we worry? It's important to note that the high price of $3,499 has already lowered market expectations. Even if they only sell 150,000 units in the first year, the production capacity of 400,000 units is more than enough.

Vision Pro slashed production by 60%? Apple doesn't need to panic, Meta Platforms also has hopes of "rising"!

德意志银行的研究分析师一直在市场上寻找 “合适” 的买入，包括他们一直看好的两只高股息率股——Westlake Chemical 和 Frontline。

美股上半年大涨过后 下半年这两只高股息率股值得投资？

As of June 28, 2023, the Hang Seng Hong Kong Stock Exchange Biotechnology (HSHKBIO.HI) Index PB (LF) stood at 2.35 times, ranking in the 8.41th percentile over the past 3 years. It is lower than the historical median of 3.64, indicating a relatively high safety margin after a prolonged decline.

Is Hong Kong biotech stocks a rebound play?

乘联会：特斯拉 6 月中国交付量为 93,680 辆。

日本大型股权基金 Alma Eikoh 今年表现优于 99% 同行。其基金经理人 James Pulsford 表示，过去一个月当中，Alma Eikoh 已将今年大涨一倍多的瑞萨电子减仓近三分之一，同时将部分资金投入一些防御性股票，如日清食品和肥皂供货商花王，以及三菱重工、NEC 等军工股。Pulsford 表示：“我们回收一些表现良好的投资，将资金重新投入一些近期表现不佳，但基本面强劲的股票。” 目前半导体仍是 Alma Eikoh 的主要投资组合，权重超过 10%。

日本顶尖股权基金减仓芯片股 转投日清、花王等防御性股票

NVIDIA, which soared 189% in the first half of the year, not only achieved the best half-year increase in its stock price, but also outperformed all other stocks in the S&P 500 and Nasdaq 100 indices. On the other hand, JD.com experienced a 39% decline in the first half of the year, marking its worst performance ever in the first half.

US Stocks in the First Half of the Year: NVIDIA and S&P Global Inc. Performed the Best! JD.com Unexpectedly Plunged.

今日，有消息称，Meta 将重返中国，已经与多家中国科技公司进行了讨论，目前可能会和腾讯进行合作，后者或成为 Meta Quest 系列头显的独家经销商，且将为 Quest 头显开发 VR 游戏。对此，腾讯回应表示，不予置评。

腾讯回应或与 Meta VR 头显达成合作：不予置评

Analysts believe that the adjustment of the renewal rules this time is more reasonable and moderate from multiple aspects, which is beneficial to the long-term healthy development of the innovative pharmaceutical industry. Influenced by this news, the A-share and Hong Kong stock pharmaceutical sectors quickly strengthened in the afternoon.

Health insurance major move is coming: Major benefits for innovative drugs! A-share and Hong Kong stock pharmaceutical sectors join forces to surge upwards.

7 月 4 日，理想汽车 CEO 李想发文称，7 月第 2 周开始的周产能会从 7500 辆/周提升到 8000 辆/周，交付量的变化会体现在 7 月的第 3 周和第 4 周。

理想汽车 CEO：7 月第 2 周起产能将提升到 8000 辆/周

私募股权公司 GTCR LLC 正就收购支付处理公司繁德信息技术商业业务的多数股权进行深入谈判。

传 GTCR 以近 200 亿美元收购繁德信息技术商业业务的多数股权

市场消息：阿里巴巴据悉考虑视频平台优酷和土豆的战略选项；消息人士称，阿里巴巴尚未就视频资产评估作出决定。

市场消息：优酷和土豆的战略选项包括将资产注入阿里影业。

Stability AI 创始人兼 CEO Emad Mostaque 指出，目前 41% 的代码已由 AI 生成，5 年内或许将不会再有人类程序员。

Stability AI CEO 放出豪言：5 年内，人类程序员将不复存在

Germanium and gallium are both emerging strategic minerals that are widely used in semiconductor materials, new energy, and other fields. They are listed in the national strategic mineral list. Moreover, China occupies a leading position globally in terms of both metal reserves and exports.

Why is it Jia and Germanium?

据美国《华尔街日报》3 日披露，扎克伯格的 Meta 公司正与中国企业进行洽谈，想将 Meta 公司的 VR 头戴设备引入中国市场。