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• The State Council Information Office will hold a press conference at 10 a.m. today.

The State Council Information Office will hold a press conference at 10:00 am on October 8, 2024 (Tuesday), please National Development and Reform Commission Director Zheng Zhijie and Deputy Directors Liu Sushe, Zhao Chenxin, Li Chunlin, and Zheng Bei to introduce the situation related to the "systematically implementing a package of incremental policies, solidly promoting the upward shift of the economic structure towards excellence, and the continuous improvement of the development trend," and answer questions from reporters.

• Join the call on the Chinese stock market! Citigroup: There is still huge room for growth.

In addition to Goldman Sachs, Citigroup has also joined the chorus of optimistic views on the Chinese stock market. The bank's analysts remain optimistic about the Chinese stock market, stating that even after the recent significant rebound, the market still has huge upside potential. They have raised their targets for the Shanghai and Shenzhen 300 Index and Hang Seng Index to 4600 points and 26000 points respectively for next year.

• Overseas investors poured into Chinese stocks, with related funds attracting tens of billions of US dollars, setting a new record.

Bloomberg data shows that the total amount of money flowing into U.S.-listed ETFs for emerging markets and specific countries reached $5.96 billion in the week ending on October 4, setting a record high in over a year. Among them, five major ETFs that invest in Chinese stocks attracted around $4.9 billion, reaching an unprecedented scale. $iShares China Large-Cap ETF (FXI.US)$ Last week, the largest net inflow of funds reached $3.5 billion. $KraneShares CSI China Internet ETF (KWEB.US)$ Over $1.4 billion was drawn in—every wave of investors returning to the Chinese stock market has set new record highs for all funds.

• Goldman Sachs released three heavyweight research reports in a row: lowering the forecast for the US recession, expecting the Chinese stock market to rise another 15% to 20%.

Goldman Sachs's stock strategy team believes that the US large cap stocks can rise by another 4.3% to 6,000 points by the end of the year. The possibility of a US recession being lowered allows the Federal Reserve to cut interest rates by only 25 basis points each time. The Asia Pacific strategy team has upgraded the rating of Chinese stocks to "hold", estimating a further 15% to 20% significant increase, and is optimistic about the potential boost to valuation from large-scale stimulus measures.

• Senior officials of the Federal Reserve temporarily not buying into the dazzling non-farm data: overall risks slightly tilted towards the headwinds facing the labor market.

Minneapolis Fed President Kashkari said on Monday that the overall risk balance slightly tilts towards headwinds in the labor market, meaning that the unemployment rate may rise, while progress continues to be made in fighting inflation. This is similar to the previous statement made by the Chicago Fed President.

• Middle East tensions cause concerns! Brent crude rose over 3% to return to $80, with the largest increase in a year and a half last week.

Given the increasing uncertainty surrounding the escalation of the Middle East conflict, international oil prices continued to rise on Monday. As of the time of writing, Brent crude oil rose by over 3%, reaching above $80 per barrel for the first time since the end of August, while WTI crude oil also rose by over 3%, with the latest quote exceeding $77 per barrel.

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

• Chinese concept stocks staged a strong 'V'-shaped reversal, turning back before reaching a new high on the S&P.

The three major U.S. indices weakened amid multiple uncertainties. Apart from Chinese assets and the energy sector boosted by rising crude oil prices, most U.S. stocks experienced a unilateral downward trading day.

By the close of trading on Monday, the S&P 500 index fell by 0.96%, the Nasdaq index fell by 1.18%, and the Dow Jones Industrial Index fell by 0.94%. For the S&P and the Dow, Monday's decline also means a slightly further distance from renewing historical highs.

Most U.S. tech giants saw declines, with Tesla down by 3.7%, Amazon by 3.06%, Google by 2.44%, Apple by 2.25%, Meta by 1.87%, Microsoft by 1.57%, Intel by 0.93%, and Nvidia up by 2.24%.

Chinese concept stocks as a whole showed strong resilience, with the Nasdaq Golden Dragon China Index closing up by 0.07%. Alibaba rose by 2.61%, Tencent ADR by 2.6%, Baidu by 3.63%, Pinduoduo down by 0.76%, JD.com up by 0.23%, EHang Intelligent up by 21.40%, Li Auto Inc up by 4.18%, and Xpeng up by 2.11%.

• Soaring nearly 16% overnight, Super Micro Computer revealed positive shipment data for its liquid cooling solutions.

$Super Micro Computer (SMCI.US)$ The company disclosed its latest complete liquid cooling solution, which can save up to 40% of energy and 80% of space. The company also disclosed its ability to deploy liquid cooling solution GPUs for large artificial intelligence factories and cloud service providers, reaching 100,000 units in a single quarter. As of Monday's close, Super Micro Computer rose by 15.79%.

• Huang Renxun's CES grand show is scheduled.

CES (Consumer Electronics Show) officials announced on Monday that $NVIDIA (NVDA.US)$ Founder and CEO Huang Renxun will deliver a keynote speech on the eve of the official opening of the Las Vegas show on January 6 next year. The market widely expects that Huang Renxun will release the RTX 50 series graphics cards, namely the 5090 and 5080 based on the Blackwell architecture.

• Apple downgraded: iPhone expectations are 'too high.'

Wall Street firm Jefferies downgraded the 'global stock king' in its latest report. $Apple (AAPL.US)$ The rating of the iPhone, as the current market's expectations for the iPhone are "too high." The report states that the hardware of smart phones needs to be redesigned in order to provide "serious AI capabilities" at the time points of 2026/2027, so it is still too early to have high expectations for the iPhone 16/17. As of the close, Apple fell more than 2%.

• Macquarie: Upgrading Alibaba and PDD Holdings ratings, adding JD.com and Didi to the 'Love Stocks' list

On Monday, the securities research department of Macquarie released the latest research report, making significant adjustments to the covered Chinese internet stocks. The institution reiterated its $JD.com (JD.US)$Please use your Futubull account to access the feature.$DiDi Global Inc (DIDIY.US)$ 'outperform the market' rating for these two in the U.S. stock market's top trading choices. At the same time, it included U.S. stock $Alibaba (BABA.US)$ and the Hong Kong stock market $BABA-W (09988.HK)$ , as well as $PDD Holdings (PDD.US)$ rating was upgraded from 'Neutral' to 'Outperform the Market'.

• Google suffered a heavy blow in the antitrust case, and its dominant position in the Android app market may be overturned.

A U.S. judge issued a permanent injunction, forcing $Alphabet-C (GOOG.US)$ Provide alternative options to the Google Play Store for Android users to download applications. Google will also be prohibited from charging fees to companies or sharing revenue in exchange for not competing with Google's app store. Google fell more than 2.4%, dragging down the market sharply after noon. Analysts suggest that the latest ruling could accelerate the weakening of Google and Apple's control over app store.

• Pfizer targeted by aggressive investors.

$Pfizer (PFE.US)$ Rose 2.17% on Monday. On the news front, well-known aggressive investor Starboard has held nearly 1 billion dollars in company stocks, reportedly pressuring Pfizer's management to take transformation measures.

• Rio Tinto is in discussions to purchase Arcadium Lithium, which surged over 35%.

Argentinian mining company $Arcadium Lithium (ALTM.US)$ Monday's closing rose by 35.39%. The company confirmed that it is in discussions with $Rio Tinto (RIO.US)$ regarding potential merger matters, but currently the discussions between the two parties are non-binding, and it is not certain whether there will be any progress.

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.

• The Hong Kong AH stock premium index hit a 4-year low, with all three major indices rising more than 9% during the National Day holiday period

During the Golden Week in 2024, the Hong Kong stock market experienced a significant uptrend. The Hang Seng Index rose by 9.30% during the holiday period, with the technology sector and the Hang Seng China Enterprises Index rising by 13.36% and 10.93% respectively. It is worth noting that the AH stock premium index continued to decline during the Golden Week, falling by 13.39% during the period and closing at 128.49 points.

• Citic sec: It is difficult to say that Hong Kong stocks have reached a cyclical top, and the valuation repair trend is expected to continue until early November.

Citic Securities believes that since the introduction of the policy combination, the Hong Kong stock market has seen significant gains, with foreign capital showing a trend of significantly increasing allocation to the market. In just half a month since September 16, a total of 60.6 billion Hong Kong dollars have flowed into the market. Against the backdrop of policies gradually taking effect and investors remaining 'excited,' it is difficult to say that the Hong Kong stock market has peaked in the short term. The valuation recovery trend is expected to continue until early November.

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 NFIB Small Business Confidence Index for September, US August trade balance, Reserve Bank of Australia releases September monetary policy meeting minutes, speeches by US Federal Reserve officials

On Tuesday, in terms of economic data, the US will release the NFIB Small Business Confidence Index for September, August trade balance data, and more.

In terms of financial events, a wave of Federal Reserve officials made public appearances: Minneapolis Fed President Kashkari participated in the question and answer session at the Bank Holding Company Association's Fall Symposium, Atlanta Fed President Bostic delivered a speech, St. Louis Fed President Mubarak spoke on economic outlook and monetary policy, Fed Governor Kugler spoke at a conference held by the European Central Bank; In addition, the Reserve Bank of Australia published minutes of the September monetary policy meeting.

In terms of performance, $PepsiCo (PEP.US)$Please use your Futubull account to access the feature.$Accolade (ACCD.US)$Please use your Futubull account to access the feature.$IDT Corp (IDT.US)$ Will announce financial results in pre-market trading in the US market.

In terms of new stocks, $TAIMEI TECH (02576.HK)$ Listed in Hong Kong.

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