Hot news

• Fed "Hawk King": It may take up to two years for inflation to fall to 2%.

Minneapolis Fed President Kashkari, one of the biggest hawks at the Fed, said that it could take up to two years for US inflation to return to the Fed's target level, not far from the median expected by the Fed. He also said that wage growth is still too high to bring inflation back to 2%.

• At stake is $5 trillion! The expiration size of US stock options on the day of the three witches may be the largest in history.

According to Goldman Sachs analyst John Marshall, this Friday's triple-witching day in the US stock market will be the largest expiration of options in history, with a nominal value of over $5.1 trillion in expiring options, surpassing last December's record high of $4.9 trillion.

• There are signs of weakness in the US economy and gold has returned to the $2360 level!

Recent US economic data show signs of slowing growth in the world's largest economy, boosting bets on Fed rate cuts later this year. In May, the number of new homes built in the United States fell 5.5%, the lowest level in four years, from 1.35 million in April to 1.28 million. LPL Financial says soft demand for housing construction and slowing inflation should prompt the Fed to start cutting interest rates this year. Stimulated by the news, spot gold returned to the $2360 level.

• Accelerating inflation in Japan may push the Bank of Japan to raise interest rates.

After the Japanese government raised taxes related to renewable energy, inflation accelerated in Japan, a result that supports the Bank of Japan's decision to raise interest rates in the coming months. Japan's core CPI rose 2.5% YoY in May, slightly lower than the expected 2.6% and higher than the previous value of 2.2%. The acceleration of inflation once again indicates continued inflationary pressure and provides a reason for the Bank of Japan to consider raising interest rates as early as next month. The Bank of Japan has said it will provide details of a plan to reduce its bond purchase program next month.

• Bank of England holds interest rates for the seventh time in a row, but its statement suggests the time for a rate cut may be approaching.

The Bank of England announced on Thursday that it would keep its benchmark interest rate at 5.25%, unchanged from market expectations. This is the seventh consecutive meeting of the Bank of England to "stay put," with 5.25% being the highest level of interest rates in 16 years. The bank has maintained this level since August 2023. The Bank of England said that monetary policy needs to remain restrictive for a long period of time, and the decision not to cut interest rates is "delicate."

Gamestop's surge has dramatically narrowed, with the trading platform considering unplugging the internet of US retail investors.

• Nasdaq stops seven consecutive days of gains, Nvidia falls 3.54%, market cap behind Microsoft.

Overnight, after touching historic highs at the opening of trading, the Nasdaq and S&P 500 both entered a full-day decline. At the close, the S&P 500, which once climbed over the 5500-point mark, fell 0.25% to 5473.17 points; the Nasdaq fell 0.79% to 17721.59 points; and the Dow Jones Industrial Average rose 0.77% to 39134.76 points.

• Huang Renxun continue to sell Nvidia and has recently reduced his shareholding by over $47 million.

According to after-hours trading on Thursday,$NVIDIA (NVDA.US)$CEO Huang Renxun's 144 document shows that he sold another 120,000 shares of Nvidia's stock on Monday and Tuesday, and plans to sell another 120,000 shares on Thursday. Based on Nvidia's price, 120,000 shares are equivalent to about $15-16 million, which means Huang Renxun will recover nearly $80 million in funds over the past two weeks. At the close, Nvidia fell more than 3%.

• Tesla fell nearly 2%, new car registrations in the EU down 34% in May.

Overnight$Tesla (TSLA.US)$it fell nearly 2%. On the news front, according to the European Association of Automobile Manufacturers, new car registrations for Tesla in the EU fell 34% in May. In addition, RBC Capital analyst Tom Narayan lowered Tesla's target price from $293 to $227, but maintained an 'outperform' rating.

• Piper Sandler lists AMD as the top large-cap chip stock for the second half of the year.

On Thursday, the US chip company$Advanced Micro Devices (AMD.US)$rose against the trend by 4.62%. On the news side, the company's hacking incident did not affect the stock. In addition, well-known investment bank Piper Sandler reiterated its buy rating on the semiconductor company and named it the top large-cap chip stock for the second half of the year. Analyst Harsh Kumar pointed out that the company has a bright outlook for the second half of 2024 and improved GPU supply.

• After the first batch of AI PCs went on sale, Qualcomm's stock price fell more than 5%.

As of the close of trading on Thursday, U.S. stocks fell sharply due to their own bearishness and poor performance in the chip sector.$Qualcomm (QCOM.US)$Single-day drop by more than 5%. On the news front, the first batch of laptop computers equipped with the Snapdragon X Elite chip landed on the market this week, followed by software compatibility issues. At the same time, with the release of the M4 chip by Apple last month, Qualcomm's performance advantage has become somewhat embarrassing.

• SolarEdge fell more than 7%, with target price lowered by JPMorgan to $59.

$SolarEdge Technologies (SEDG.US)$Fall by more than 7%.$Enphase Energy (ENPH.US)$Accenture rose against the markets by more than 7%, with GenAI's new bookings for the third quarter exceeding $900 million. The company's third-quarter results were announced overnight, with new bookings of $21.06 billion during the period, up 22% year-on-year. The GenAI new booking exceeded $900 million, bringing the total booking for the fiscal year to more than $2 billion. The company expects revenue to grow 1.5% to 2.5% in fiscal year 2024, compared with analysts' expectations of 1.6% growth. In addition, Accenture has agreed to acquire Italian network services company Fibermind to enhance fiber-optic and mobile 5G network deployment services; specific terms were not disclosed.

• Gilead Sciences rose more than 8%, and the long-acting AIDS prevention drug showed super-positive results. The U.S. biopharmaceutical company announced on its website on Thursday that its development of 'Lenacapavir' has shown 100% effectiveness in preventing HIV. This result also pushed the company's stock price up 8.46%.

IT service provider.$Accenture (ACN.US)$Accenture rose more than 7% against the market overnight, with the company reporting third-quarter results and new bookings of $21.06 billion during the period, up 22% year-on-year. The GenAI new booking exceeded $900 million, bringing the total booking for the fiscal year to more than $2 billion. The company expects revenue to grow 1.5% to 2.5% in fiscal year 2024, compared with analysts' expectations of 1.6% growth. In addition, Accenture has agreed to acquire Italian network services company Fibermind to enhance fiber-optic and mobile 5G network deployment services; specific terms were not disclosed.

• Gilead rose more than 8%, and the long-acting AIDS prevention drug showed super-positive results.

American biopharmaceutical company.$Gilead Sciences (GILD.US)$The U.S. biopharmaceutical company announced on its website on Thursday that its development of 'Lenacapavir' has shown 100% effectiveness in preventing HIV. This result also pushed the company's stock price up 8.46%.

• Best Inc. rose more than 17%, announcing that it has reached a final privatization agreement, with an acquisition price of $2.88 per ADS. The acquisition price is 25.2% higher than the closing price of the trading day before the privatization tender offer was received by Best. The transaction is expected to be completed in the third quarter of 2024. Upon completion of the transaction, Best will delist from the New York Stock Exchange and become a wholly-owned private company of the parent company.

$BEST Inc (BEST.US)$Residence surged more than 17%, announcing that it has entered into a privatization merger agreement with a group of buyers, with an acquisition price of $2.88 per ADS. The acquisition price is 25.2% higher than the closing price of the trading day before the privatization tender offer was received by Residence. The transaction is expected to be completed in the third quarter of 2024. Upon completion of the transaction, Residence will delist from the New York Stock Exchange and become a wholly-owned private company of the parent company.

If you want to play this game, you must believe in yourself and your judgment.

BeiShui crazily bought China Mobile for nearly HKD 1.8 billion and sold Tencent for about HKD 200 million. On Monday (June 3rd), Southbound funds net purchased HKD 3.4 billion of Hong Kong stocks.

• Northbound funds swept Hong Kong ETFs, adding nearly HKD 600 million to Tencent.

On Thursday, southbound funds net bought HKD7.531 billion of Hong Kong stocks.

$TRACKER FUND OF HONG KONG (02800.HK)$, $CNOOC (00883.HK)$, $TENCENT (00700.HK)$Net purchases were HKD 1.885 billion, HKD 653 million, and HKD 588 million respectively;

$SCICLONE PHARMA (06600.HK)$, $SMIC (00981.HK)$Net sales were HKD 298 million and HKD 59.33 million respectively.

• SenseTime plans to distribute approximately 1.67 billion shares at a price of HK$1.20 per share.

$SENSETIME-W (00020.HK)$The Stock Exchange of Hong Kong announced that it has entered into a placing agreement with placement agents to try to encourage not less than 6 placing persons to subscribe for 1,673,446,000 placing shares at a placing price of HKD 1.20 per placing share.

The company's overall sales volume in 2023 was 18,000 kiloliters, with a year-on-year increase of 28.10%, indicating significant growth. In terms of product structure, the operating income of products worth 10-30 billion yuan were 401/1288/60 million yuan respectively.

Keywords: Annualized total sales of completed houses, Leading indicators of consultation meeting monthly rate.

On Friday, in terms of economic data, the USA will release the initial June S&P Global manufacturing PMI, the initial June S&P Global services PMI, May Leading Indicators of Consultation Meeting monthly rate, May annualized total sales of existing homes, and EIA natural gas inventories as of June 14th. Hong Kong, China will release May comprehensive CPI annual rate.

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