Hot news

• China's real estate market undergoes major easing, with Guangzhou fully lifting property purchase restrictions, while Shanghai and Shenzhen loosen restrictions and reduce down payment ratios.

On September 29, Shanghai, Shenzhen, and Guangzhou successively introduced new real estate policies. Among them, the minimum down payment ratio for first-time homebuyers in Shanghai and Shenzhen is 15%, while for second homes it is 25%; Guangzhou has lifted all the restrictions on residents' property purchases in the city.

• Central Bank and Banking Regulatory Commission issued four consecutive new policies over the weekend.

On the evening of September 29, the People's Bank of China and the China Banking and Insurance Regulatory Commission jointly released four financial support policies for real estate, including improving the pricing mechanism for commercial personal housing loans, optimizing the minimum down payment ratio for personal housing loans, optimizing re-loans for affordable housing, and extending the terms of some real estate financial policies. In addition, a market interest rate pricing self-discipline mechanism proposal was issued, and all commercial banks should in principle carry out batch adjustments to eligible existing housing loan interest rates by October 31, 2024.

• Funds are rushing into the market! Industrial and Commercial Bank of China Securities Transfer Net Value Index hits a new high since 2021! Brokerage IT Department: may have to work overtime during the National Day holiday.

Under a series of significant policy stimuli, last week (September 23 to September 27), the A-share stock market saw a significant rise, with related stock indices breaking multiple historical records and igniting investors' enthusiasm, resulting in a large influx of funds. According to data from the Industrial and Commercial Bank of China, the net value of investor bank-to-broker transfer funds on September 27 climbed to 7.04, significantly higher than the previous 4 trading days of 0.66, 2.15, 1.4, 4.4, with a weekly average of 3.13, marking a new high in the past three and a half years since 2021.

• Fed's Mursi Saleem: The Fed should 'gradually' cut interest rates.

According to foreign media, c highprecision Federal Reserve Bank of St. Louis President Muzlim stated that after cutting rates by 50 basis points earlier this month, a larger magnitude than usual, the Federal Reserve should resume the practice of "gradually" lowering rates. Muzlim stated that the US economy may react "very positively" to a more accommodative financial environment, stimulating demand and extending the time needed for the Federal Reserve to lower the inflation rate to 2%. "For me, this is about easing off the brakes at this stage. This is about gradually reducing policy constraints."

• USA consumer confidence rose to a five-month high, enhancing optimism about the economy

US consumer confidence continued to rise in late September, reaching a five-month high, benefiting from increased optimism about the economy after c highprecision rate cuts. The University of Michigan's final consumer confidence index for September rose to 70.1 from an initial value of 69, compared to 67.9 in August. Data released last Friday showed that consumers expect an inflation rate of 2.7% in the next year, the lowest level since the end of 2020, and lower than the previous month's estimate of 2.8%. Expectations for inflation rate in the next five to ten years are 3.1%.

• Dominating the asset management industry, the USA ETF market has reached the milestone of 10 trillion USD in size

On September 27, according to Bloomberg compiled data, driven by both inflows and market gains, the total assets under management of exchange-traded funds (ETFs) in the USA surpassed the milestone of 10 trillion USD for the first time this week. So far this year, investors have poured 691 billion USD into ETFs, with c highprecision indices continuously breaking historical records. Analysts believe this signifies that ETFs have fundamentally changed the investment landscape on Wall Street.

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

• The Dow Jones Industrial Average hits a new high, c highprecision stocks rise across the board, with the Golden Dragon Index skyrocketing by about 24% last week

Last Friday, Eastern Time, the three major indices experienced mixed movements as the Dow Jones Industrial Average continued to hit new historical highs, with the latest data indicating further decrease in inflation in the USA. By the close of the market, the Dow Jones Index rose by 0.33%; the S&P 500 Index fell by 0.13%; and the Nasdaq Index dropped by 0.39%.

Large-cap tech stocks fluctuated, with Apple rising by 0.12%, Microsoft falling by 0.76%, Nvidia dropping by 2.13%, Google rising by 0.75%, Amazon falling by 1.67%, Meta dropping by 0.08%, and Tesla rising by 2.45%.

China concept stocks generally rose, with the Nasdaq Golden Dragon Index in China rising by 4%, Nio rising by 12.80%, Xpeng rising by 9.00%, Bilibili rising by 8.68%, JD.com rising by 5.03%, PDD Holdings rising by 4.62%, Alibaba rising by 2.15%, and Li Auto Inc rising by 1.62%.

• Apple exits OpenAI financing negotiations, microsoft adds extra 1 billion US dollars.

Last Saturday, on September 28, The Wall Street Journal reported that OpenAI's current financing plan aims to raise approximately $6.5 billion and is expected to be completed next week. Apple will no longer be participating in the OpenAI financing negotiations. However, Microsoft has been involved in the current financing negotiations. Microsoft is expected to invest around $1 billion, following a prior investment of $13 billion in OpenAI. Currently, the fund negotiation for OpenAI's current financing round has not been finalized, and participants and investment amounts may change.$Microsoft (MSFT.US)$And.$NVIDIA (NVDA.US)$Saturday, September 28, The Wall Street Journal reported that OpenAI's financing plan for this round aims to raise approximately $6.5 billion and is expected to be completed next week. Apple will no longer participate in the OpenAI financing round negotiations. However, Microsoft has been involved in this round of financing negotiations. Microsoft is expected to invest approximately $1 billion, as it had previously invested $13 billion in OpenAI. Currently, the fund negotiations for OpenAI's current financing round have not been completed, and participants and investment amounts may change.

• Huang Renxun: AI can help improve the utilization of electrical utilities, and nuclear energy is a good choice for the energy supply of datacenters.

Last Friday, September 27th, Eastern Time. $NVIDIA (NVDA.US)$CEO Huang Renxun believes that nuclear energy can help offset the massive energy consumption generated by artificial intelligence (AI) technology and its applications. The benefits brought by AI to the power grid and society as a whole can ultimately offset this energy consumption. When interviewed by Bloomberg, Huang Renxun stated that as a renewable energy source, nuclear energy is a good choice to meet the needs of an increasing number of datacenters.

• Apple is reportedly planning to equip the AirPods Pro 3 with sensors to detect heart health.

According to media reports, $Apple (AAPL.US)$The company is preparing to equip the next generation of TWS earphones with health sensors capable of measuring heart rate.

Sources say Apple will equip the upcoming AirPods Pro 3 with this health sensor, and the next generation of Powerbeats Pro is also expected to receive the same upgrade. Following Apple's upgrade cycle, there was nearly a 3-year gap between the first two generations of AirPods Pro, so AirPods Pro 3 may not be released until next fall.

• AMD reaches a milestone moment as they partner with MI300X from Oracle to create a supercomputing cluster.

A tech giant renowned globally for its cloud computing services and database software.$Oracle (ORCL.US)$Recently opting for the ROCm open software ecosystem, AMD Instinct MI300X AI accelerator is considered a formidable competitor to Nvidia's H100 and H200 AI GPUs, providing essential AI computational power hardware support for Oracle's latest OCI compute supercluster instances.

Teaming up with Oracle, for a company that currently holds less than 10% market share in the AI GPU market in data centers,$Advanced Micro Devices (AMD.US)$this marks a monumental moment as AMD gradually integrates into the global cloud computing realm, potentially capturing more of Nvidia's market share in the AI GPU market.

• Volkswagen lowers its full-year delivery volume expectations.

$VOLKSWAGEN A G (VWAGY.US)$Expected full year delivery volume of 9 million vehicles, analyst expectations 8.1 million; Expected full year operating profit will reach approximately 18 billion euros; Expected full year sales revenue approximately 320 billion euros; Expected full year net cash flow from the automotive department 2 billion euros, the company originally expected 2.5 billion-4.5 billion euros; Expected full year sales operation return on sales (ROS) of 5.6%, analyst expectations 6.51%, company originally expected 6.5%-7.0%.

• OpenAI's August revenue tripled year-over-year! The company expects full year revenue of 3.7 billion US dollars, breaking a hundred billion in 2029.

The New York Times reported last Friday that the leading generative AI company OpenAI achieved a revenue of 0.3 billion US dollars in August, growing by 1700% since early 2023, with an estimated annual revenue of around 3.7 billion US dollars. According to the report, OpenAI is sharing the company's financial documents with potential investors, planning a round of financing that could bring in 7 billion US dollars, valuing the company at 150 billion US dollars, making it one of the highest valued technology companies in history.

Top 20 US stock transactions

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.

• Beishui bought more than 3.9 billion Hong Kong dollars in Alibaba and sold nearly 2.8 billion Hong Kong dollars in Meituan.

On September 27, southbound capital sold a net of 2.331 billion Hong Kong dollars of Hong Kong stocks.

$BABA-W (09988.HK)$and$HKEX (00388.HK)$N/A.$PING AN (02318.HK)$Received net inflows of 3.934 billion HK dollars, 0.835 billion HK dollars, 0.347 billion HK dollars;

$MEITUAN-W (03690.HK)$,$TENCENT (00700.HK)$,$CNOOC (00883.HK)$Experienced net outflows of 2.769 billion HK dollars, 2.478 billion HK dollars, 0.386 billion HK dollars.    

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: USA Chicago PMI; China manufacturing, service PMI; Carnival Cruise financial report.

On Monday, in terms of economic data, the USA Chicago PMI, China official manufacturing PMI, and China Caixin manufacturing/service PMI will be released.

In terms of financial events, European Central Bank President Lagarde will give an introductory speech at the European Parliament's Committee on Economic and Monetary Affairs.

Financial reports: Hong Kong Stock Exchange$C HIGHPRECISION (00591.HK)$and American stocks $Carnival (CCL.US)$and$Playtech (PYTCY.US)$Will release financial report.

In terms of new stocks, a kitchenware brand from Hangzhou, Zhejiang, China$CAROTE LTD (02549.HK)$ Will announce the results of global offering of approximately 0.13 billion shares on September 30 (Monday), with an offering price per share of 5.72-5.78 Hong Kong dollars.

Futubull Morning News:

Changes are always happening. If you don't embrace progressive changes, you will end up waiting for regressive changes.

"- Charlie Munger"

Editor/ping