Source: Zhitong Finance "Since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%)." With the rebound of the stock market, the old adage "Sell in May and Go Away" seems to have been a bad advice once again. Last month, the S&P 500 index rose 4.8%, the best May performance since 2009. The NASDAQ 100 index rose nearly 6.2%, and the NASDAQ Composite Index rose 6.9%. Goldman Sachs FICC & Equities Trading Division said: "History doesn't really support this saying. Don't sell, leave the market (go on vacation), and enjoy the good times." The rising trend is still to be continued? If history is any guide, it may indicate that the rise of the stock market is not over yet. Looking ahead to the rest of 2024, Scott Rubner, Managing Director of the Goldman Sachs Global Markets Division and tactical expert, pointed out the following historical background for investors. Rubner stated that the S&P 500 index has risen 10.7% year-to-date, and since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%). "Since 1950, the median return of the last 7 months of each year (June 1 to December 31) is 5.4%. In the aforementioned 21 cases, the average performance of the last 7 months increased to 8.1%." Rubner added. Rubner also pointed out that the NASDAQ index has risen for 16 consecutive Julys, with an average return of about 4.64%.

Autos stocks rose in early trading, as of the time of writing, up 9.13%, to HKD 38.85. $XPENG-W (09868.HK)$ Up more than 4%. $LEAPMOTOR (09863.HK)$and$GEELY AUTO (00175.HK)$ Up more than 4%. $NIO-SW (09866.HK)$Please use your Futubull account to access the feature.$LI AUTO-W (02015.HK)$ Up more than 3%.

In terms of news, the latest data from the China Passenger Car Association shows that from September 1st to 15th, the passenger vehicle market sold 0.828 million units, an 18% year-on-year increase, and a 12% increase from the same period last month; the new energy fund passenger vehicle market sold 0.445 million units, a 63% year-on-year increase, and a 12% increase from the same period last month. During the second week of September, the daily retail sales of passenger vehicles in the market averaged 0.063 million units, a 26% increase year-on-year compared to the same period in September last year, and an 18% increase from the same period last month.

The effectiveness of the policy to replace old vehicles with new ones is evident. According to the Ministry of Commerce data, the Ministry of Commerce's platform for replacing old vehicles with new ones has received subsidy applications exceeding 1.04 million, boosting new car sales of approximately 130 billion yuan. According to Global Times, the EU is reportedly postponing the vote on imposing tariffs on imported electric cars from China. Three EU diplomats stated that the EU's planned vote at the meeting on September 25th has been canceled for now.

Editor / jayden