Today's Important News Review | Dolphin Research
0510 Dolphin Focus:
🐬 Macro/Industry
1. According to media reports, China is considering exempting mainland individual investors from paying the 20% income tax required when receiving dividend income from Hong Kong stocks through the Stock Connect program, in order to avoid double taxation between the two regions. If the related plan is implemented, it will help further improve the liquidity of Hong Kong stocks, attract companies to raise funds in Hong Kong, boost short-term market sentiment, and lead to a collective rise in Hong Kong stocks this afternoon.
2. The China Association of Automobile Manufacturers released data showing that in April, wholesale sales of new energy passenger vehicles reached 785,000 units, a year-on-year increase of 30.0% but a month-on-month decrease of 3.7%. Retail sales of new energy vehicles in April were 674,000 units, up 28.3% year-on-year but down 5.7% month-on-month. In addition, the market penetration rate of new energy vehicles in April reached 43.7%, an increase of 11.7 percentage points compared to the same period last year.
🐬 Individual Stocks
1. $Microsoft.US
Microsoft plans to launch its own mobile game store in July to compete with similar app stores from Apple and Google. The store will feature Microsoft's own games, including "Candy Crush Saga," and will be open to other developers. Traditionally, Apple and Google have dominated the app stores where game developers release games, charging around 30% in sales fees. However, this year's "Digital Markets Act" allows tech companies to bypass Apple and Google's monopoly and operate their own online stores. With the acquisition of "Activision Blizzard," Microsoft is taking this opportunity to challenge Apple and Google.
2. $Taiwan Semiconductor.US
TSMC's latest monthly data revealed that the company's sales revenue in April was NT$236.021 billion, up 20.9% month-on-month and 59.6% year-on-year. With the continuous growth in AI demand, TSMC, as a beneficiary, continues to deliver strong performance, with TSMC's US stock rising over 2% in pre-market trading.
3. Core Focus on Financial Report Analysis and Conference Calls
SMIC: "SMIC: Emerging from a Long Downturn" and "SMIC: Full-Year Revenue Growth to Exceed Industry Average (24Q1 Conference Call)" Roblox: "Roblox: Key indicators are falling short, raising doubts about growth"
Airbnb: "Airbnb: Blaming weak guidance again?" , "Airbnb: Increasing investment in 2Q, focusing on overseas markets and new businesses"
🐬 Leading Sectors
Shanghai and Shenzhen: Real estate services, real estate development, various utilities;
Hong Kong Stocks: Paper products, multiple insurance types, financial exchanges and data;
US Stocks: Silver, textiles, precious metals and minerals.
🐬 Focus Next Monday
1. 1-year inflation expectations from the New York Fed in the United States.
Risk disclosure and statement of this article: Dolphin Research Disclaimer and General Disclosure