Has the growth rate of North American cloud computing giants hit bottom? CITIC Securities predicts that the growth rate of sector revenue and profit margin is expected to recover in the second half of the year. The integration of AI capabilities will likely bring long-term growth momentum to cloud vendors in areas such as infrastructure, model optimization, applications, and basic software.

Microsoft, Google, Amazon! Can they continue to grow?

国君宏观指出，在当前经济背景下，红利加成长的资产组合大概率会持续占优，这背后是股权财政和活跃资本市场两个宏观政策路径的长期确定性。当前基本面在供需两端均存在结构性问题，这意味着随着市场企稳，央企红利与科技成长的风会继续吹。

股权财政 + 活跃资本市场=红利 + 成长？

Yimingang Technology-B rose 12%, reaching HKD 20.8, with an IPO price of HKD 18.6. One lot can earn HKD 440.

As proven by "Suits," Netflix has the ability to keep people engaged on its platform even without new shows.

Naifei has another explosive TV series! Analyst: Target price $500

Sellers of water also have their worries.

Who has grasped the lifeline of NVIDIA?

China's real estate market has been revitalized by new government policies, and Sunac China has also been boosted by its fundamentals! Although Sunac's short-term finances are still under pressure, its first-half revenue growth of over 20% and a more than 30% reduction in net loss can be considered satisfactory. Both its fundamentals and operational data have withstood the scrutiny of audits!

Surging 34%! Why is Sunac China the strongest performer among domestic real estate stocks?

The upward momentum of the S&P 500 index may wane as economic data supports a prolonged period of tight monetary policy.

New Century's Biggest "Bull Trap"? US Bond Yields and the US Dollar "Take Off Together," US Stocks May Fall Another 9%!

港股中芯国际尾盘持续走强，现涨超 8%，创 6 月 20 日以来新高，成交超 21 亿港元。

中芯国际港股尾盘迅猛拉升，发生了什么？

以酱香咖啡之名：茅台与瑞幸各取所需

AI 概念港股午后涨幅扩大。截至发稿，美图公司涨超 11%，商汤涨超 8%，百度集团涨超 3%。消息面上，谷歌开发者大会将于 9 月 6 至 7 日在上海举办，此次大会将包括主旨演讲、专题演讲和工作坊的内容覆盖机器学习、生成式 AI、大型语言模型等领域。

AI 概念港股涨幅扩大 美图公司涨超 11%

Renowned investment research firm Morningstar recently released a report stating that cyclical consumer stocks in the US stock market, after reaching a disappointing low point in 2022, are expected to experience a strong rebound in 2023.

If you are afraid of high valuations in US tech stocks, you might want to consider these four undervalued consumer stocks.

香港财政司司长陈茂波周日发表网志，指调低股票印花税并不足以结构性、长期地刺激股市交投，令市场对香港会否减股票印花税存疑。陈茂波今出席活动时澄清，称 “大家不要误会”，强调并未排除减印花税的选项，只是需要以组合拳全面看，不能单靠一招。香港除不断提升自身竞争力，也要发挥好互联互通的角色，引进更多新水，基于地缘政治下大家关注资金量，故未来要研究如何更方便北水下来，而人民币双柜台只是其中一小部分，未来要研究更多风险管理及衍生工具产品，以及人民币国际化等。

香港财政司司长陈茂波澄清：未排除减印花税选项 需以组合拳全面看、不能单靠一招

Last Friday, Tesla options trading volume reached 3.44 million contracts, while Disney options trading volume doubled. Lululemon and Broadcom options trading volume increased by 6 times and 4 times respectively. NIO and Alibaba call options accounted for over 70% of the total trading volume.

US Stock Options | Alibaba, NIO Call Options Active, Dell Options Trading Surges 10 Times

新概念印钞机，比黄金更贵的显卡。

疯狂的 H100

Currently, the implied volatility of options is at a relatively low level, making it cheaper to buy options. You can also buy put options to protect long positions in futures.

US stocks rebounded after a volatile session. How to use options to protect profits?

Since the release of the heavyweight policies in the Chinese real estate market at the end of August, the combination of Policy 831 and the "Buy a House, Not a Loan" policy in Beijing and Shanghai has caused a surge in the stock prices of domestic real estate companies! The market has already seen the determination of the Chinese government to support the real estate market, and expectations are once again optimistic and high!

Hong Kong real estate stocks, why did they skyrocket today?

从中国人民银行北京市分行相关人士获悉，LPR 改革之前北京地区存在各个银行的利率下限并不是完全统一的情况，一些房贷业务比较集中的银行的利率下限可能高于其他银行，这种不同银行之间不一致的情况如何处理，目前仍在研究当中，但 9 月 25 日之前会向社会公布。

央行北京分行：正在研究 LPR 改革之前的存量房贷利率调整方案 9 月 25 日之前会向社会公布

融创中国涨超 30%，新城发展控股涨近 20%。

贵州茅台和瑞幸咖啡联合推出的酱香拿铁今日上市。“今天早上基本都是点这款的。其实它这个里面的酒味也没那么重，但是喝完肯定不能开车。” 该店店员表示。

实探茅台酱香咖啡首日上市现场 店员提醒：“喝完肯定不能开车”

曾在 2 月禁用 ChatGPT 的哈佛大学政策逆转，开始将 AI 引入教学中。哈佛意识到，一味的禁止无法改变现实，应该顺应技术潮流，并以安全的方式将 ChatGPT 整合到教育中提升教学效率和质量。

哈佛大学将 ChatGPT 等生成式 AI 用于教学，并发布使用指南

The market is still waiting for more "targeted" policies! The future performance of the market depends on the improvement of investment sentiment and the implementation of more practical and effective policy measures, such as the down payment ratio for second homes in first-tier cities, even the relaxation of purchase restrictions, further reduction of LPR, and expansion of fiscal expenditure.

Hong Kong stocks: Is the "policy bottom" stable? What is the market still waiting for?

海伦司决定向蜜雪冰城看齐

恒生科技指数涨超 3%，万国数据涨 6.89%，领涨成分股，哔哩哔哩涨超 5%。

据新华网，特斯拉中国总裁王昊日前在北京国家会议中心接受记者专访时表示，中国新能源汽车市场非常大且发展势头很好，特斯拉期待与中国新能源汽车产业携手并进。王昊说：“供应链上的中国企业与特斯拉一起成长，因为新能源汽车的底层研发很多，从想法到实现装配，特斯拉都在和这些企业一起推进。今年上半年，特斯拉宣布加码投资，将在上海新建储能超级工厂。预计在不久的将来，我们就会开始建设储能超级工厂，产品将主要用于出口。

特斯拉中国总裁王昊：预计在不久的将来，我们就会开始建设储能超级工厂，产品将主要用于出口

9 月 1 日，上海、北京先后宣布全面执行 “认房不用认贷” 政策，至此北上广深四个一线城市已全部落实首套 “认房不认贷” 政策。

京沪 “认房不认贷” 首个周末：售楼处通宵卖房、“一天赶上一个月”，二手房加速成交

港股内房股大涨，融创中国涨超 20%，新城发展控股涨 17%，龙湖集团、华润置地、绿城中国、碧桂园涨超 10%。

拿下加密支付许可，推特想把 “扫一扫” 推向全球？

马斯克的 X 构想：从抄微信到超微信

中金初步预计 “认房不认贷” 和下调 “首付比例下限” 可能将提升未来数月销售增速 6.5ppt，也会温和提升房地产开发投资；降存量房贷利率和二套利率下限可为居民年化增收 2250 亿元。

中金详细测算：楼市 “组合拳”，影响有多大？

Chanel raises prices again, exceeding 80,000.

港股科网股造好，微博涨 5%，哔哩哔哩、京东、阿里巴巴涨 3%。

龙湖集团、碧桂园涨超 5%，融创中国涨超 8%，禹洲集团涨超 13%。恒生科技指数涨 1.87%。

恒指高开 1.14%，地产股走高

港股开盘，恒指开涨 1.14%，科指开涨 1.87%。造车新势力走强，蔚来汽车涨超 3%，理想汽车涨 2.7%。

月度销量创新高，比亚迪还要促销。今年 8 月以来，已有特斯拉、蔚来、零跑、哪吒、奇瑞新能源理想等超过 10 家车企，相继宣布降价或实施促销活动。

月销 274386 台了，比亚迪还得继续卷！

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.

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.

特斯拉创始人马斯克带火、被很多人奉为 “减肥神药” 的司美格鲁肽热卖，其制造商丹麦制药巨头诺和诺德也一举超越奢侈品巨头 LVMH，成为欧洲市值最高的公司。受市场对减肥药需求的推动，诺和诺德股价一路飙升。自 2020 年底以来，诺和诺德股价已上涨了两倍多，在过去 12 个月里则上涨了 66%。最新数据显示，诺和诺德市值约为 4236 亿美元，而在法国上市的 LVMH 市值约为 4213 亿美元。由于诺和诺德为丹麦带来了海量的出口收入，丹麦甚至不得不降低利率并且增加外汇储备，以刻意削弱本国货币的竞争力。

“减肥神药” 卖爆 上位欧洲市值王

国泰君安证券 9 月 4 日研报表示，地产景气度有所回落，但政策预期不断升温，带动港股地产链反弹。2023 年上半年地产销售修复趋势放缓，新开工面积、施工面积、开发投资等指标保持负增长。商品房销售较二季度末有所回落，整体弱于季节性，二手房成交面积同样连续走弱。近期房地产政策确定新基调，中央政治局会议中关于房地产的表述提到要 “适应我国房地产市场供求关系发生重大变化的新形势，适时调整优化房地产政策”。随后北上广深等一线城市纷纷响应。政策预期升温，港股地产链或将迎来反弹投资机会。

国泰君安：港股地产链或将迎来反弹投资机会

According to informed sources, Arm, the chip design division of SoftBank, is expected to seek a per-share issuance price of $47-51 in its upcoming IPO.

Arm's IPO in the United States is priced at $47-51 per share, with an estimated valuation of approximately $50-54 billion.

MUNICH, Sept 3 (Reuters) - Renault (RENA.PA) cannot afford to enter a discount race with Teslaor Chinese rivals, the French carmaker’s head of engineering told journalists at the IAA Munich car show.
“The good strategy is to maintain prices and to adjust fixed costs,” Gilles Le Borgne said.
Renault’s high exposure to Europe makes it one of the most exposed names to new competition from Tesla and Chinese rivals in electric vehicles, UBS wrote in a note this week.

Renault cannot afford discount race with Tesla, Chinese peers, executive says

马斯克：X 平台的视频观看量自去年以来大致翻了一番。

金十数据 9 月 3 日讯，知名苹果爆料人马克·古尔曼 9 月 3 日表示，苹果公司 9 月 12 日将发布的四款新手机以及 AirPods Pro 上会使用 USB-C 接口，而苹果会将这件事描述为 “消费者的重大胜利”，该公司的主题演讲预计不会提及欧盟的强制规定和此前的批评意见。此外，古尔曼透露，他被告知，苹果正考虑将 iOS 17 的第八个测试版作为 iOS 17.0 的最终版本，而且 iPadOS 17.0 可能将与 iOS 同时发布。

马克·古尔曼：苹果将把 iPhone 15 采用 USB-C 接口形容为 “消费者的胜利”

According to the announcement released by Ideal Car-W on the Smart Finance APP, in August 2023, a total of 34,914 new cars were delivered by Ideal Car, representing a YoY growth of 663.8%. The monthly deliveries of the three models in the Ideal L series all exceeded 10,000 units. As of August 31, 2023, the cumulative delivery volume of Ideal Car in 2023 has reached 208,200 units. "With more and more households recognizing and trusting our products, the Ideal L7, Ideal L8, and Ideal L9 achieved excellent monthly delivery results, all exceeding 10,000 units. Among them, the Ideal L9 has been the best-selling full-size SUV for 12 consecutive months, with cumulative deliveries exceeding 100,000 units since its first production in August 2022; the Ideal L7 and Ideal L8 have respectively maintained the first and second positions in the sales of mid-to-large-size SUVs. The popularity of the three models in the Ideal L series has solidified our leading position in the Chinese new energy vehicle market and luxury brand automobile market. From January to August this year, our market share in the domestic new energy vehicle market with a price above 300,000 RMB has exceeded 30%, successfully obtaining the champion in luxury new energy vehicle sales. Since the second quarter, we have been the top-selling brand of high-end SUVs (including both fuel and new energy vehicles) priced above 300,000 RMB in China for five consecutive months. At the Ideal Car press conference during the Chengdu Auto Show, we officially announced the release and delivery time of the flagship family technology model, Ideal MEGA.

Ideal Car-W8 delivered a total of 34,914 new vehicles in the month, a YoY growth of 663.8%.

受当地劳动节假期影响，美股周一休市一日，CME 旗下贵金属、美国原油合约交易提前于北京时间 5 日 02:30 结束，ICE 旗下布伦特原油期货合约交易提前于北京时间 5 日 01:30 结束。

美股明日休市一日

中信证券表示，房价单边下跌预期逆转是预期市场复苏持续的原因。政策将释放一系列长期被压抑的真实居住需求，主要是卖旧买新、卖小买大的改善置业需求，也包括返乡置业、回乡养老和旅居需求。

中信证券：房地产市场基本面将从 9 月开始企稳回升

据台湾 TVBS 新闻网 3 日报道，鸿海集团创办人郭台铭 8 月底正式宣布参加 2024 台湾地区领导人选举，不少人都在关注郭台铭的副手人选。除了日前传出的 “立委” 高金素梅外，今日传出郭台铭目前将寻觅焦点锁定在 “高知名度、热心慈善公益、女性” 三项条件，“台湾第一名模” 林志玲也成为郭台铭的征询对象。对此，林志玲通过经纪人作出回应。报道称，林志玲通过经纪人回应表示：“姐姐对政治不甚了解，只希望大家健康社会平和世界和平天天快乐。如果真的是姐姐～那就会变成 barbie land 了。

郭台铭有意找林志玲当副手？林志玲回应台媒

香港财政司司长陈茂波表示，客观数据反应，下调股票交易印花税率无法从根本上提振股市。就以 1999 至 2001 年的经验为例，期间股票印花税三度下调，但日均成交额却由 1997 年约 143 亿港元下降至 2002 年的 60 亿港元。至于较近期的例子，股票交易印花税在 2021 年轻微上调至 0.13% 后的头几个月 (即 8 月至 12 月份)，港股日均成交仍较 2020 年多出 2%。如果再看俗称 “换手率” 的股票转手频率，更是由 2020 年的 0.22% 上升至 2022 年的 0.27%，正正反映印花税的上调并没有导致股票交投萎缩。

香港财政司司长陈茂波：香港促进股市流动性专责小组将于今周开会

由于购房挤压消费的压力相对较大，对购车带来影响，因此房车比达到了较高的比例。未来随着住房不炒的理念推动，随着存量房的房贷利率的调整，居民购房的还贷压力会稍有减弱，有利于购车消费的恢复。

乘联会崔东树：居民购房的还贷压力会稍有减弱，有利于购车消费的恢复

据香港天文台消息，热带气旋 “海葵” 已进入香港 800 公里范围，按照现时预测路径，天文台会在明早考虑发出一号戒备信号。

香港天文台或将在明早发出一号戒备信号

In the Asia-Pacific region, this country is favored.

Track Hyper | Focusing on TSMC: Intel's Big Bet on Advanced Packaging

业内人士认为，“认房不认贷” 将对市场交易量有明显提振作用，购房者在政策明朗后入市意愿更强，预计 9 月份开始，一二手房领域交易活跃态势将持续。