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• The Ministry of Finance has sent an important signal! It will launch a package of incremental policy measures.

The State Council Information Office will hold a press conference at 10:00 a.m. on October 12th. Minister of Finance, Liao Feng'an, said that there are plans to significantly increase the debt ceiling at once, replace local governments' outstanding hidden debts, and increase efforts to support local debt risk resolution. This upcoming policy is the most significant measure to support debt conversion in recent years. Liao Feng'an also mentioned that counter-cyclical adjustments not only involve policies that have entered the decision-making process, but there are also other policy tools under consideration, such as the central government having a relatively large space for borrowing and deficit expansion. In addition, the Ministry of Finance will gradually introduce a package of targeted incremental policy measures. Deputy Minister of Finance, Liao Min, mentioned that there is an urgent study being conducted to clarify and cancel the value-added tax policies that relate to common and non-common residential standards.

• Hong Kong stocks major news! Hong Kong Chief Executive, Carrie Lam, will deliver her third policy address during her term in office.

Carrie Lam, the Chief Executive of the Hong Kong Special Administrative Region, will deliver the 2024 Policy Address on October 16 (Wednesday) at 11 a.m., triggering high attention from all sectors of society. There are reports that Carrie Lam will announce multiple measures to consolidate Hong Kong's position as a global financial center in the Policy Address.

• The first Chinese stocks etf's net assets surpassed one billion, overseas institutions emphasize valuation advantages remain unchanged

According to data from iShares (BlackRock) website, as of Friday (October 11), the net assets of its fund listed on the NYSE - $iShares China Large-Cap ETF (FXI.US)$ The net assets of the s&p 500 index have reached $10.86 billion. This is also the first time that the scale of China stock ETFs listed in the US has exceeded $10 billion. It is understood that FXI, this ETF, was established 20 years ago, tracking the FTSE China 50 index, covering the 50 largest and most liquid stocks listed on the Hong Kong Stock Exchange.

• The current global market: Forget hard landing, trade re-inflation, be wary of Trump.

Recently, the latest US Non-Farm Payrolls (NFP) report showed a strong performance, easing concerns in the market about an economic hard landing. Simultaneously, with the strong performance in the labor market, rising oil prices, and other factors pushing it, the market is once again focusing on inflation expectations. Citi analyst Dirk Willer believes that the re-inflation scenario is favorable for risk assets and the US dollar, but unfavorable for long-term bonds; as the US elections approach, political factors are gradually becoming an important variable affecting the market.

• Goldman Sachs: The Federal Reserve may have already basically reached its 2% inflation target.

According to the latest forecast published by Goldman Sachs on Friday, the September Personal Consumer Expenditure Price Index to be released by the US Department of Commerce later this month is expected to show a year-on-year increase of 2.04% in the inflation indicator. If Goldman Sachs' forecast is correct, then this number will be rounded to 2%, completely in line with the long-term inflation target of the Federal Reserve.

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

• On the second anniversary of this bull market, the s&p dow jones indices are hitting new highs again, with Chinese concept stocks collectively gaining strength.

Accompanying a strong start to this year's US stock third-quarter earnings season, the three major indices all closed higher. As the second year of the bull market is about to be completed, the s&p 500 index hit a new high for the 45th time this year, and for the first time in history, crossed the 5800 point threshold.

As of the close on Friday, the S&P 500 index rose by 0.61% to 5815.03 points; the Nasdaq index rose by 0.33% to 18342.94 points; the Dow Jones Industrial Index rose by 0.97% to 42863.86 points, also hitting a new high.

US tech giants continue to fluctuate, with Amazon up 1.16%, Meta up 1.05%, Google-A up 0.72%, Microsoft up 0.12%, Tesla, which just finished the Robotaxi launch event, down 8.78%, Apple down 0.65%, Nvidia down 0.01%.

Chinese concept stocks continue their upward trend, with Alibaba up 0.79%, Tencent ADR up 0.98%, Pinduoduo up 2.25%, JD.com up 1.41%, Netease up 0.3%, Nio up 0.4%, Li Auto up 0.67%, Xpeng up 1.97%, JinkoSolar up 4.21%, KE Holdings up 4.04%, Futu Holdings Ltd up 3.59%, Ehang up 2.71%.

• Tesla plunged 8% after the event, while Uber emerged as the winner.

$Tesla (TSLA.US)$ Released products like unmanned taxi (Cybercab), unmanned van (Robovan), but due to lack of technical details and highly vague listing time (combined with Musk often 'delaying'), the company's stock price fell by 8.78% on Friday. At the same time, the online car-hailing platform $Uber Technologies (UBER.US)$ rose by 10.81%, $Lyft Inc (LYFT.US)$ Rise by 9.59%.

• Can NVIDIA reach new highs? Morgan Stanley reveals: Blackwell's supply for the next year has already sold out.

In the latest analysis by Morgan Stanley, due to the continuous surge in demand for its GPU chips business, NVIDIA's stock is expected to further rise. $NVIDIA (NVDA.US)$ The bank also stated that NVIDIA's next generation Blackwell GPU chip production is progressing 'as planned', and the supply for the next 12 months has been sold out. They reiterated their 'shareholding' rating on NVIDIA stock, with a target price of $150, implying a possible 11.2% increase from the current level.

• Outperforming expectations, US bank stocks have reached a two and a half year high in performance.

Last Friday, the US bank stock index in the US market closed at its highest level in two and a half years. This was due to the better-than-expected quarterly profits announced by the two major banks on Wall Street, JPMorgan and Wells Fargo, boosting hopes of a 'soft landing' for the US economy. $JPMorgan (JPM.US)$ Stocks rose by 4.4%. $Wells Fargo & Co (WFC.US)$ Rising by 5.6%, tracking the 24 largest banks in the USA, $Powershares Exch Traded Fd Tst Ii Kbw Bk Port (KBWB.US)$ Jumped more than 3%, leading banking stocks to break the recent high set before the outbreak of the regional banking crisis in the USA - triggered by the bankruptcy of Silicon Valley Bank - and hit the highest closing level since April 2022.

• Next wave of investment in ai is coming, who will benefit? Goldman Sachs recommends these types of stocks...

Goldman Sachs analyst mentioned that in the next round of AI investments, investors should not only focus on obvious choices like NVIDIA and AI infrastructure companies, but instead opt for a range of platforms dedicated to building direct AI applications. Analysts believe that $Microsoft (MSFT.US)$Please use your Futubull account to access the feature.$Datadog (DDOG.US)$ Database management system $MongoDB (MDB.US)$ , software company $Elastic (ESTC.US)$ and $Snowflake (SNOW.US)$ When launching artificial intelligence integrated applications, it is positioned as the best "platform stock".

• Boeing will cut 10% of its workforce, and the first delivery of the 777X model will be delayed to 2026.

Facing prolonged strikes and increasingly severe cash flow shortages, $Boeing (BA.US)$ Announced plans to cut about 10% of the workforce to address the crisis. CEO Kelly Ortberg said in a memo to employees that the layoffs will include executives, managers, and regular employees. By the end of 2023, Boeing had a total of 0.171 million employees. Ortberg also announced that the delayed first delivery of the Boeing 777X model will be further postponed to 2026.

• Eli Lilly's CEO stated that the weight loss drug is expected to be approved in Japan next year.

$Eli Lilly and Co (LLY.US)$ CEO David Ricks stated on Friday that the weight loss drug Zepbound is expected to be approved in Japan by the middle of next year. Previously, Japan had approved Lilly's Taltz peptide injection with the same ingredients for the treatment of diabetes. Lilly anticipates that after the approval of the weight loss drug, they will continue to collaborate with Takeda Mitsubishi Pharma to distribute in the Japanese market.

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 stock market volatility is intensifying! Institutions point out that finance and optional consumption may become the next focus of attention.

The Hong Kong stock market has recently experienced severe volatility. Taking the Hang Seng Index as an example, the index rose more than 30% from September 11 to October 7. However, in the past three trading days of last week, there was a correction, resulting in a cumulative decline of 8%. Bocom International predicts that the financial and consumer discretionary sectors will continue to be important battlegrounds in the market, with the core driving force relying on both fundamentals and policy.

• Hong Kong stock buyback wave is still ongoing! Tencent is expected to complete a billion-dollar buyback ahead of schedule.

Since 2024, a total of 278 companies in the Hong Kong stock market have participated in share buybacks, with a total amount of 292 billion Hong Kong dollars. This figure has already exceeded the total share buybacks of Hong Kong-listed companies for the entire year of 2023. Looking at the buyback data from 2024, companies have repurchased 90.558 billion Hong Kong dollars, with the company's billion-dollar buyback plan currently 90% complete, indicating market expectations of an early completion of the buyback plan. $TENCENT (00700.HK)$ Since 2024, a total of 278 companies in the Hong Kong stock market have participated in share buybacks, with a total amount of 292 billion Hong Kong dollars. This figure has already exceeded the total share buybacks of Hong Kong-listed companies for the entire year of 2023. Looking at the buyback data from 2024, companies have repurchased 90.558 billion Hong Kong dollars, with the company's billion-dollar buyback plan currently 90% complete, indicating market expectations of an early completion of the buyback plan.

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: China's trade balance, Nobel Prize in Economics announcement, start of November 11 shopping festival-related, opening of the Paris Motor Show, Tokyo Stock Exchange closed

On Monday, China will disclose the trade balance for September in terms of economic data.

In terms of financial events, the Nobel Prize in Economics will be announced. In addition, $BABA-W (09988.HK)$ Tmall and $JD-SW (09618.HK)$ November 11 shopping festival-related will start. In addition, the Paris Motor Show will open and last for a whole week.

In addition, due to a sports holiday, the Japanese stock market will be closed.

Futubull Morning News:

What you need is not a large amount of action, but a large amount of patience.
"- Charlie Munger"

Editor/Somer