Hot news

• Us Treasury Secretary Yellen: there is still a lot of work to be done to narrow the racial gap between the rich and the poor
  

Treasury Secretary Janet Yellen said on Monday that the Treasury Department had taken key steps over the past year to address chronic economic injustices faced by people of color in the United States, but that there was still "more work to be done" to narrow the ethnic wealth gap. In 2019, white households, which account for 60 per cent of the US population, own 85.5 per cent of the wealth, while black households own only 4.2 per cent and Hispanics account for only 3.1 per cent, according to Fed data. These figures are virtually unchanged from 30 years ago, according to USAFacts.org, a nonpartisan non-profit organization.

• O'Micron accelerates the end of COVID-19? Fauci: it's too early to tell

Anthony Fauci, chief medical adviser to the White House, said Monday that it was too early to tell whether O'Micron marked a shift from COVID-19 's epidemic to an "endemic disease." Fauci added that even if Omicron did become the last mutated strain of COVID-19, it was unlikely to mean the complete end of the virus. Instead, it will continue to exist in society in the form of "endemic diseases" (endemic).

• The 21-year record of global TOP20 hedge funds has been announced: the tiger has fallen from the altar, and the bridge water has turned into a profit.

The world's top 20 hedge funds earned a record $65.4 billion in 2021, according to LCH Investments. In absolute terms, Chris Hohn's TCI Fund Management (TCI Fund Management) earned $9.5 billion last year, making it the most profitable hedge fund last year.

Tiger Global, which made a huge profit of $10.4 billion in 2020, posted a loss of $1.5 billion in 2021, making it the only hedge fund on the list that lost money last year. On the contrary, the Bridge Water Fund, which lost a huge $12.1 billion in 2020, made a profit of $5.7 billion last year, while the Bridge Water Fund continues to be the largest in history.

• Goldman Sachs Group lowered his forecast for US GDP growth in 2022 from 3.8% to 3.4%.

In the latest US GDP forecast, Goldman Sachs Group lowered his US GDP forecast for 2022 to 3.4 per cent from 3.8 per cent before. Weaker expectations of fiscal stimulus and the spread of Omicron mutants may be the two main reasons for the agency's downgrade of US GDP forecasts. Previously, the agency had expected US GDP growth of about 5-6 per cent in 2021. While Goldman Sachs Group's latest GDP forecast is depressing, it is still higher than the agency's 1.75 per cent trend growth forecast.

• Israeli study: fourth dose of Pfizer Inc Vaccine is not enough to prevent infection with Omicron strain

The fourth dose of Pfizer Inc / BioNTech vaccine is not enough to prevent infection with novel coronavirus Omicron strain, according to preliminary data from an Israeli trial released on Monday. Two weeks after receiving the fourth dose of Pfizer Inc and COVID-19 vaccine, researchers found an increase in antibody levels in the subjects, who took part in the trial at Tel Aviv's Sheba Medical Center (Sheba Medical Center). However, Gili Regev-Yochay, lead researcher of the trial, said that the fourth dose of Pfizer Inc vaccine provided only partial protection against Omicron strain, and although the vaccine was more effective against previous strains, it had relatively little protection against Omicron.

• Hashimi Dalio warns: giving up fossil fuels too early will lead to inflation

On Monday, Redalio, founder of the Bridge Water Fund, called for a premature abandonment of fossil fuels and warned that cutting off the supply of financing to the industry would have a destabilizing effect as inflation rose. Dalio, who attended the Abu Dhabi Sustainable Development week summit on Monday, believes that the world economy should be wise as it shifts to green, it is dangerous to add too much in the transition phase, and inflation is one of the problems that could be caused. Dario said energy costs must be reduced or it would exacerbate inflation, which in turn threatens food security. He also praised oil producers on the grounds that they had controlled costs by providing reliable supplies.

Market trends

• Us stocks were closed yesterday for Martin Luther King Day.

Affected by the Martin Luther King Day holiday, U. S. stocks were closed on Monday. Please note that this week's US crude oil inventory data for API and EIA have been postponed to 05:30 on Thursday, January 20 and 00:00 on Friday, January 21, Beijing time.

• European stocks closed higher across the board, while the FTSE 100 index rose 0.91%.

Germany's DAX30 index rose 0.34%, France's CAC40 index rose 0.82%, Britain's FTSE 100 index rose 0.91%, Spain's IBEX35 index rose 0.38%, Italy's FTSE MIB index rose 0.5%, and the European Stoxx 50 index rose 0.74%.

• Tesla, Inc. seeks 8000 tons of African graphite a year from Australian enterprises to supply its key battery raw materials.

$Tesla, Inc. (TSLA.US) $Last month it signed an agreement to supply 8000 tons of African graphite with Australia's Syrah Resources, which operates one of the world's largest graphite mines in southern African countries. This is a unique partnership between Tesla, Inc. and mineral producers vital to lithium-ion batteries. At present, the transaction price has not been announced.

• Apple Inc was forced to relax payment rules, Dutch regulators: will review rectification measures

Following the order of last month$Apple Inc (AAPL.US) $After changing its App Store payment policy, the Dutch consumer regulator said on Monday that it would review the company's corrective measures to determine whether the changes could meet the requirements of competition rules. ACM said in a statement on Monday that Apple Inc had told the agency that it would comply with the rectification requirements and that regulators would now assess whether Apple Inc's changes were sufficient. Apple Inc said on Saturday that it would comply with the rule although it was appealing against ACM's decision.

• Vale SA resumes part of Brazilian iron ore business, reiterating production guidelines for 2022

$Vale SA (VALE.US) $It said on Monday that it had resumed operations at some mines in the state of Minas Gerais. A week ago, the company was forced to suspend operations of its iron ore system in southeastern and southern Brazil because torrential rains increased the risk of accidents and disrupted logistics. According to one document, the shutdown affected Vale SA's iron ore production by about 1.5 million tons. Nevertheless, the company reiterated its iron ore production guidance of 3.2-335 million tons in 2022.

• Astra Space will open the rocket launch window as soon as this week.

According to foreign media reports,$Astra Space (ASTR.US) $After successfully completing a test flight demonstration mission in Alaska in November last year, the company shipped the Rocket 3.3 to Cape Canaveral, Florida, and tested it before the launch mission later this month. It is reported that the launch window of Rocket 3.3is scheduled to open between 2:00 and 5:00 Beijing time on Wednesday, but officials have not confirmed this, saying only that it will launch sometime this month. At that time, the stock price may fluctuate, please pay attention to it.

• Apple Inc accepts the price increase and buys Taiwan Semiconductor Manufacturing Co Ltd's 4nm production capacity, which will be used for iPhone14.

The new generation of A16 application processor developed by Apple Inc has been finalized and will be produced in Taiwan Semiconductor Manufacturing Co Ltd 4nm N4P process. It is expected to enter mass production in Taiwan Semiconductor Manufacturing Co Ltd Fab18 factory in the second half of the year. Due to the shortage of wafer foundry production capacity, Apple Inc has accepted price increases to ensure production capacity and promised to step down SMC 12-150000 4nm production capacity.

• Taiwan Semiconductor Manufacturing Co Ltd carbon neutralization pressurized supply chain green power procurement, 20% ahead of schedule

According to Digitimes, the semiconductor equipment industry, due to the slow progress of carbon neutralization targets$Taiwan Semiconductor Manufacturing Co Ltd (TSM.US) $Recently, it has once again released to the supply chain instructions to accelerate the procurement schedule and expand the scale of green power, and the pressure on energy conservation and carbon reduction will be transferred layer by layer, which may lead to the gradual loss of orders in the future. Taiwan Semiconductor Manufacturing Co Ltd had already declared to the supply chain the goal of saving 20 per cent by 2030 and asked suppliers to take stock of their carbon footprints.

• NIO Inc. signs an office lease or is ready to start selling in the United States.

It is reported that$NIO Inc. (NIO.US) $The US subsidiary recently signed a 10-year lease for an office building in San Jose, California, doubling the size of its headquarters to nearly 18580 square meters. The lease was brokered by real estate company Colliers, which said its new US headquarters would support NIO Inc. 's research and digital development, testing, assembly, warehousing and operations, according to an investigation by Mercury News. It was previously reported that NIO Inc. North America opened recruitment information for 46 positions on LinkedIn, including the person in charge of user infrastructure construction and preparation.

• Pinduoduo responded that there were 6 places after the decimal point in 99.9% of the price.

In March last year, Shanghai lawyer Liu Yuhang attended$Pinduoduo (PDD.US) $The "bargain free" activity, after inviting many people to bargain, there is always a gap of "0.9%". Pinduoduo (PDD.O) said that because the percentage shown on the page is limited, they omit a percentage of at least six digits after the decimal point as 0.9%, and the 0.9% shown on the bargaining page is not 0.9%, but 0.9996427%. For the lawyer invited many people to bargain, but the bargain progress bar has not changed, Tang Jiangrong, senior director of the legal Department of Pinduoduo, explained: "because the amount of goods cut for free is relatively large, the amount cut by a small number of users is not enough to make the percentage change. It will make consumers think that the bargain has not changed. "

• Yu Minhong said that he did not want to become a celebrity in the live streaming network, and there were more important things to do.

On January 17, Yu Minhong posted an article on the official account "Lao Yu gossip" to review his one-week experience and mentioned$New Oriental Education & Technology Group (EDU.US) $Live with goods, Yu Minhong said he did not want to become a celebrity on the Internet with goods. "fortunately, I helped the team sell some of the goods. I don't want to develop myself into a live online celebrity. Only when the team itself is strong, the business can continue to develop. I have more important things to do. "he wrote in the article.

• LUCKN COFFEE DRC adds cosmetics retail to the business scope

Enterprise check App shows that recently$LUCKN COFFEE DRC (LKNCY.US) $(China) Co., Ltd. has undergone industrial and commercial changes, the company's business scope of new cameras and equipment sales, cosmetics retail, personal hygiene products sales, non-residential real estate leasing, construction projects and so on. Enterprise investigation shows that the company was established in March 2018 with a registered capital of 1.8 billion US dollars.

• Organization: XR head shows that shipments will exceed 100 million units in 2025, an increase of about 10 times

According to the latest forecast of Counterpoint Global XR (VR/AR), shipments of extended reality (XR) head display are expected to increase about tenfold from 11 million in 2021 to 105 million in 2025. XR headset sales will begin to burst in 2022, as this will be the year with the highest number of XR new product releases, including$Meta Platforms (FB.US) $Oculus Quest series,$Sony Group Corp (SONY.US) $PlayStation VR2 and$Apple Inc (AAPL.US) $Apple AR glasses.

• Loop Capital: raise Apple Inc's target price from $165to $210and maintain his buy rating

Loop Capital analyst Ananda Barua pointed out that$Apple Inc (AAPL.US) $It seems that it is preparing to raise the average sales price of iPhone this quarter. After the company's strong performance in 2021, this should boost overall revenue growth by 10% to 15%. Loop Capital believes that in addition to the fact that iPhone sales are expected to reach 85 million in the December quarter, full-year iPhone sales are also likely to be higher than expected, between 243 million and 245 million, compared with a previous forecast of 240 million. Barua added: "We believe that the average selling price of iPhone will have a substantial opportunity to increase in 2022, as we believe that this trend has already emerged in 2021 and will continue to be magnified. "

The Prospect of Hong Kong City

• Beishui bought Meituan for 10 days in a row, and today it increases its position by nearly HK $500m. Nanshui has a sale of China China exemption and Ningde era.

Southward Capital bought a net HK $1.456 billion on Monday, a net purchase for the ninth consecutive day, with a cumulative net purchase of 24.363 billion yuan. Meituan-W, Kuaishou Technology-W and China Overseas Land & Investment received a net purchase of HK $496 million, HK $156 million and HK $152 million respectively.

In terms of net sales, Tencent, CNOOC Limited and Geely Automobile received net sales of HK $655 million, HK $313 million and HK $169 million respectively.

Southward funds have bought Meituan net for 10 consecutive days, totaling about 5.3804 billion Hong Kong dollars.

• Tencent Timi Studio released the sub-brand "Timi Health"

$Tencent (00700.HK) $Timi Studio today announced the launch of Timi Health, a sub-brand focused on sports health. Tianmei Health and domestic intelligent fitness equipment brand Fiture starts with "Arena of Valor" and cooperates with Fiture in customized magic mirrors, theme training courses and joint sports periphery through the authorization of the image of Hero of Kings. Next, the two sides will continue to try more in the technology and product dimension, and in the follow-up, QQ Speed, Aixiaochu, Tiantian cool run and other IP will also join in, and continue to carry out in-depth cooperation in hardware products, fitness peripherals, course content and other aspects.

• Bilibili Inc. responded that the video surveillance was cracked and uploaded: the relevant content has been removed and the account has been blocked, and the follow-up investigation is under way.

On the evening of January seventeenth$Bilibili Inc.-SW (09626.HK) $Official Weibo Corp said in a notice that he received a report from users today that someone was suspected of using illegal means to crack the camera and upload video surveillance footage to Bilibili Inc.. We immediately organized an investigation and removed the relevant content. At the same time, we blocked the accounts that uploaded the relevant content and reported the account information to the competent department. A follow-up investigation is under way.

• More than a dozen enterprises, including Baidu, Inc. and Meituan, are interconnected, opening 10 billion yuan of traffic during the Spring Festival

$Baidu-SW (09888.HK) $Union$Meituan-W (03690.HK) $, Little Red Book,$SF Holdings (002352.SZ) $、$Trip.com-S (09961.HK) $、$Zhihu Inc. (ZH.US) $More than a dozen enterprises, including Tongcheng, Maoyan and 58.com, have announced that they will open deep cooperation on connectivity, starting with the Spring Festival, and will carry out connectivity and cooperation at the three levels of traffic, technology, and service ecology. It is understood that more than 10 enterprises mentioned above have launched Intelligent Mini Program in Baidu, Inc. APP. Baidu, Inc. will open 10 billion traffic to interconnection partners during this year's "year of good Luck China" to create one-stop Spring Festival services for users.

• China Merchants: maintain Xtep's international buy rating, with a target price of HK $16.1m

China Merchants (Hong Kong) issued a research report$Xtep International (01368.HK) $A full-year profit forecast was announced. Net profit will grow by more than 70 per cent year-on-year, in line with the bank's forecast of 70.3 per cent year-on-year growth. The reasons for the profit increase include: 1) the revenue of Xtep's main brand increased by 30% compared with the same period last year, and 2) the gross profit margin increased, mainly due to the increase in the sales share of high-end products and the low base brought about by the inventory buyback caused by COVID-19 for 20 years. On the analyst conference call, management expressed confidence that net profit for fiscal 21 would grow by more than 70% year-on-year. Although Xtep's actual earnings for fiscal 21 may be higher than the bank's forecast, the bank will not change its overall forecast for now, especially given that the revenue guidance for fiscal 22 is in line with the bank's current assumptions. The bank is waiting for results for fiscal year 21 on March 16. Maintain the buy rating and target price at HK $16.1, corresponding to 23.4 times the price-to-earnings ratio for FY22.

• Macquarie: maintain WH Group Limited's outperform rating, with the target price rising from HK $9.4 to HK $9.97

Macquarie released a research report saying that maintaining$WH Group Limited (00288.HK) $Outperformed the market rating, lowered the 2021 net profit forecast by 14.8%, but raised the 2022 forecast by 5%. It is believed that the US packaged meat business has benefited from the continued rebound in food demand, and sales are believed to have returned to pre-epidemic levels. profits per ton are expected to rise further. Macquarie expects WH Group Limited's business in the United States and China to improve in the fourth quarter of last year. Although falling pig prices in the United States will reduce production profits, it is expected that the business of packaged meat and fresh pork will pick up during the period, leading to improved operating profits. The bank believes that Wanzhou's core business is on the right track of recovery, while a rebound in pig prices in China will support pig production profits.

• BoCom International: raise the target price of Datang New Energy from HK $2.4 to HK $3.44, maintaining a neutral rating
  

BoCom International Research report indicates that in 2021$Datang New Energy (01798.HK) $Total power generation increased by 23.6% year-on-year, of which wind power generation and BoCom forecast are basically the same, while photovoltaic power generation is about 10% higher than BoCom's forecast. Due to the deterioration of wind resources, the growth rate of wind power generation in the second half of the year is significantly lower than that in the first half of the year. BoCom maintains its forecast for new installed capacity in 2021, that is, 500MW of wind power and 800MW of photovoltaic power, and expects the speed of new installation to accelerate significantly in 2022 and 2023, but there are hidden worries about a decline in project yields. BoCom slightly adjusts the company's profit forecast for the next three years. Due to the overall upward move in the valuation level of the industry, BoCom raised its target price, based on a price-to-earnings ratio of 14 times forecast 2022.

Focus today

Key words: Goldman Sachs Group, Bank of New York Mellon Financial report

On Tuesday, there were few key financial data. Investors can pay attention toThe Bank of Japan interest rate decision, the New York Fed manufacturing index and the US NAHB housing market index.

Financial report$Goldman Sachs Group (GS.US) $、Bank of New York Mellon (BK.US) $The two financial giants will report results before trading on Tuesday.

Related readings:Is the highlight of bank stocks coming? Big US banks are expected to deliver their best results in 10 years

Niuniu morning reading:

Usually an investor's success and IQ do not have much relationship, success and failure are often only between the first line, that line, that is self-restraint.

Peter Lynch's rise on Wall Street