Hot news

• Is there no need to worry about the fall in US stocks? Goldman Sachs: Hedge funds are buying back stocks

According to data from Goldman Sachs Group's trading department, hedge funds are starting to buy global stocks again. Despite sharp fluctuations in the overall market, they are buying technology stocks at the fastest speed in two months. Goldman Sachs said that despite the slowing pace of monetary easing, global unease, and high asset valuations, economic fundamentals are strong enough to support assets with high risk but high potential returns.

• Is a crisis imminent? Damo: US only has “a few years” to resolve ongoing debt

As debt/GDP ratios in developed countries rose sharply during the pandemic, debt sustainability issues gradually surfaced. Damo pointed out that global interest spending will increase from 2.5% of GDP now to 3.5% at the end of this decade, and debt sustainability will be the focus of attention for the next ten years or more.

• Is the Nikkei 225 Index moving towards a 10% pullback zone? Allianz Investments: Don't panic, it can rise again within the year!

By Monday's close, the Nikkei 225 Index had a cumulative decline of 8% from the historic high of 41087.75 points set at the end of last month, and is infinitely close to entering the 10% technical correction zone.

However, Allianz Investors do not seem to be concerned about this. The bank believes that this weakness appears to be only temporary, as supported by sound corporate fundamentals and the long-term prospects of artificial intelligence. If everything returns to normal, the Japanese stock market still has upward potential until the end of this year. The Nikkei 225 index is likely to return to its all-time high by the end of the year.

• Has gold reached its peak? UBS: If there is no new catalysis, it is likely to remain volatile

Overnight on April 23, the intraday price of gold plummeted 2.54% to $2330.23 an ounce. UBS anticipates that gold may enter a consolidation period in the short term, but any price correction is an opportunity for investors to increase their gold holdings, and the continued existence of geopolitical risks may support the gold market in the long term.

Resumption of US stock trading

• The S&P Index ended six consecutive declines, and Nvidia rose more than 4%

On Monday, the NASDAQ and the S&P 500 index finally rose for the first time after six consecutive trading days of falling. By the close, the S&P 500 was up 0.87%, the NASDAQ was up 1.11%, and the Dow was up 0.67%.

With the exception of Tesla, most tech giants strengthened. Nvidia rose more than 4%, Amazon and Google rose more than 1%, Intel, Apple, Microsoft, and META rose slightly, and Tesla fell 3.4% due to “global price cuts.”

The Nasdaq China Golden Dragon Index surged 2.34%, Pinduoduo rose more than 9%, JD rose nearly 6%, NIO rose more than 5%, Alibaba and Baidu rose more than 2%, Xiaopeng Motors rose nearly 1%, and Ideal Auto fell more than 5%.

• Tesla's marketing team, which was only 4 months old, has all been laid off

$Tesla (TSLA.US)$At a time when layoffs are being implemented across the company, Musk has put the traditional marketing team that creates car advertisements “one-size-fits-all”, and the leaders have also been laid off. Moreover, some media reported on Monday that Musk has laid off 20% more than the 10% previously announced, and Tesla's stock price fell by more than 3.4% on Monday.

• The Bitcoin concept collectively strengthened, and MicroStrategy rose nearly 13%

After experiencing the “halving” incident last weekend, related concept stocks also fluctuated strongly along with the Bitcoin price. Bitcoin mining infrastructure stocks$Riot Platforms (RIOT.US)$It surged more than 23%.$MicroStrategy (MSTR.US)$An increase of nearly 13%,$CleanSpark (CLSK.US)$An increase of nearly 11%,$Coinbase (COIN.US)$An increase of more than 7%,$Marathon Digital (MARA.US)$An increase of more than 6%.

• After Nvidia's biggest sharp drop in more than four years, analysts are crying out for the bottom: demand prospects are good

$NVIDIA (NVDA.US)$The sharp drop in stock prices last Friday sparked controversy in the market—whether the AI boom led by Nvidia is over. Some analysts pointed out that investors should not worry about Nvidia's demand prospects. Nvidia's demand for orders from hyperscale cloud vendors and second-tier cloud vendors will be visible until October. The upcoming Blackwell series is expected to drive double-digit growth by the end of this year and throughout 2025.

• Officially announced a price cut, Ideal Auto fell by more than 5%

$Li Auto (LI.US)$Price cuts were announced. The L series was reduced by 18,000 yuan to 20,000 yuan, and the MEGE price was reduced by 30,000 yuan. The reduced price models include 2024 Ideal L7, Ideal L8, Ideal L9, and Ideal MEGA. Overnight, Ideal Auto dropped more than 5%.

• Apple's secret trick has been discovered again! French media: Apple's boom in buying AI startups spreads to Paris

According to French media reports,$Apple (AAPL.US)$It has acquired Datakalab, a Parisian startup focused on “artificial intelligence compression algorithms and computer vision technology.” The acquisition was completed in December of last year and was removed because the two companies reported the deal to the European Commission this month. According to Statista's data, Apple acquired “30+” AI startups in 2023, leading the world's tech giant.

• UBS downgraded the rating of the “Big Six” in US technology stocks. Goldman Sachs: The performance threshold required to maintain gains is very high

UBS released a report on Monday saying that the top six technology stocks$Alphabet-A (GOOGL.US)$,$Apple (AAPL.US)$,$Amazon (AMZN.US)$,$Meta Platforms (META.US)$,$Microsoft (MSFT.US)$und$NVIDIA (NVDA.US)$Momentum is being lost, and past earnings momentum is cooling down, downgrading the six companies' shares from “overallocated” to “neutral.” Goldman Sachs analysts also warned that if technology stocks want to maintain their gains this week, the performance threshold they need to reach this earnings season is very high, and it will not be easy to reach.

Top 20 US stock turnover

Hong Kong Market Outlook

• Beishui raised nearly HK$800 million for Tencent and sold HSBC Holdings for nearly HK$400 million

On April 22 (Monday), Southbound made a net purchase of HK$2,901 billion in Hong Kong stocks.

$TENCENT (00700.HK)$,$BANK OF CHINA (03988.HK)$,$CHINA MOBILE (00941.HK)$Received net purchases of HK$798 million, HK$577 million and HK$240 million respectively;

$HSBC HOLDINGS (00005.HK)$,$CMOC (03993.HK)$,$CNOOC (00883.HK)$Net sales were HK$369 million, HK$115 million and HK$114 million respectively.

Today's attention

Key words: PMI; Tesla; tea Baidao

On Tuesday, in terms of economic data, Japan's manufacturing PMI, Eurozone manufacturing PMI, and US S&P global manufacturing PMI will be released one after another today.

In terms of financial reports,$PING AN (02318.HK)$,$CHINA TELECOM (00728.HK)$,$China Tourism Group Duty Free Corporation (601888.SH)$The Hong Kong stock market results will be announced after the market.$Spotify Technology (SPOT.US)$The results will be announced in advance of the US stock market.$Tesla (TSLA.US)$Results will be announced after the US stock market.

In terms of new shares,$CHABAIDAO (02555.HK)$,$TJCD (02515.HK)$It will be listed on the Hong Kong stock market today.

Futubull Chen read:

If you want to improve your cognitive abilities, don't forget the mistakes you've made in the past.
—Charlie Munger

Editor/Somer