旧金山联储主席戴利表示，尽管上个月已经大幅降息，但美联储货币政策仍然具有限制性，正在努力降低通胀；戴利当天重申，她认为美联储今年可能会再降息一到两次，每次25个基点。①Fed's Daley said, if inflation falls as expected, there will be one to two more rate cuts this year. ②IMF predicts that global public debt will exceed $100 trillion for the first time by the end of the year. ③US stocks collectively closed lower, with Asml's performance below expectations dragging down the semiconductor sector; popular China concept stocks decreased in general, and Nasdaq's China Golden Dragon Index fell by 5.92%. ④On the 17th, five department heads will attend a press conference to introduce the real estate market situation.
Hot news
【Fed's Daley: If Inflation Falls as Expected, One to Two More Rate Cuts This Year】
San Francisco Fed Chair Daley stated that despite a significant rate cut last month, the Fed's monetary policy remains restrictive, working to lower inflation; Daley reiterated that the Fed may cut rates one to two more times this year, by 25 basis points each time.
【IMF: Global Public Debt to Exceed $100 Trillion for First Time by Year End】
IMF's latest analysis shows that by the end of this year, global public debt will surpass $100 trillion for the first time. IMF urges governments worldwide to take action to control debt, stating that the current environment of stable economic growth and low unemployment is a good time to make progress.
【Five Department Heads to Attend Press Conference on the 17th to Introduce Real Estate Market Situation】
The State Council Information Office will hold a press conference at 10:00 on Thursday, October 17, 2024, with Minister of Housing and Urban-Rural Development Ni Hong, as well as officials from the Ministry of Finance, Ministry of Natural Resources, People's Bank of China, and China Banking and Insurance Regulatory Commission, introducing the relevant situation of promoting the stable and healthy development of the real estate market, and answering questions from reporters.
International crude oil futures settlement prices fell sharply by over 4%.
International crude oil futures settlement prices fell sharply by over 4%. WTI November crude oil futures fell by $3.25, a decrease of 4.4%, to $70.58 per barrel. Brent December crude oil futures fell by $3.21, a decrease of 4.14%, to $74.25 per barrel. The International Energy Agency stated that global oil demand growth has significantly slowed down.
Global Markets
U.S. stock market's three major indexes collectively fell last night, as ASML Holding's results released early significantly missed expectations, dragging down the entire semiconductor sector and causing the tech-heavy Nasdaq to fall by over 1%.
As of the close, the Dow Jones Industrial Average fell by 324.80 points, a decrease of 0.75%, to 42740.42 points; the Nasdaq Composite dropped by 187.10 points, a decrease of 1.01%, to 18315.59 points; the S&P 500 Index fell by 44.59 points, a decrease of 0.76%, to 5815.26 points.
Most large technology stocks declined, with Nvidia and Intel falling by over 4% and over 3% respectively. Netflix, Microsoft, Meta, among others, saw slight declines; Apple rose by over 1%, while Tesla, Google, and Amazon saw slight increases.
Popular China concept stocks experienced a general decline, with the Nasdaq Golden Dragon China Index falling by 5.92%. JD.com dropped by over 9%, Bilibili, Vipshop, and Full Truck Alliance fell by over 6%, while Pinduoduo, Li Auto Inc, iQIYI, Alibaba, and Baidu dropped by over 5%.
The three main Hong Kong stock indices experienced a significant pullback on Tuesday, with both the Hang Seng Index and the Hang Seng Tech Index falling by over 3%. By the close, the Hang Seng Index dropped by 3.67% to close at 20318.79 points; the Tech Index fell by 4.65% to close at 4450.95 points; the Hang Seng China Enterprises Index fell by 3.99% to close at 7277.83 points.
From the market performance perspective, real estate, autos, brokerages, gold, and infrastructure stocks are leading the decline.
Company News:
ASML Holding: The financial report, which was originally scheduled to be released on Wednesday, was unexpectedly released early. The company announced that the orders for the third quarter of this year were only 2.6 billion euros, nearly half less than the market's expectation of 5.4 billion euros. In addition, the company expects the total net sales to grow to between 30 billion and 35 billion euros by 2025, while the market generally forecasts 35.8 billion euros.
Apple Inc.: On Tuesday evening Beijing time, the company officially introduced the iPad Mini 7 through a press release on its official website.
CGN New Energy (01811): The cumulative electricity generation in the first nine months increased by 1.4% to 0.0147 million gigawatt-hours. Wind power decreased by 0.1%, solar project increased by 26.4%, combined heat and power and gas projects increased by 12.3%, hydropower projects increased by 22.3%, and projects in South Korea decreased by 4.3%.
China Res Power (00836): The cumulative electricity sales volume in the first nine months reached 0.154 billion megawatt-hours, an increase of 7.8% year-on-year. Wind power increased by 12.1% year-on-year, while photovoltaic electricity sales increased by 165.2%.
China South Air (01055): In September, passenger traffic capacity increased by 9.81% year-on-year, passenger turnover increased by 19.29% year-on-year, and the passenger load factor was 85.51%, up by 6.80 percentage points year-on-year.
China East Air (00670): In September, passenger traffic capacity increased by 10.33% year-on-year, passenger turnover increased by 25.17% year-on-year, and the passenger load factor was 83.51%, up by 9.90 percentage points year-on-year.
Air China Limited (00753): In September, passenger transport capacity increased by 11.8% year-on-year, passenger turnover increased by 20.0% year-on-year, passenger load factor was 79.7%, up by 5.5 percentage points year-on-year.
Metallurgical Corporation of China (01618): Newly signed contracts in the first 9 months amounted to 891.69 billion yuan, a decrease of 9.2% year-on-year, while the amount of new overseas contracts signed increased by 85.2% year-on-year.
PICC Group (01339): Expected net income for the first three quarters is between 33.83 billion yuan and 37.931 billion yuan, an increase of 65% to 85% year-on-year.
China Pacific Insurance (02601): Expected net income for the first three quarters is between 37 billion yuan and 39.4 billion yuan, an increase of about 60% to 70% year-on-year.
PICC P&C (02328): Expected net income for the first three quarters to increase by around 20% to 40% year-on-year.
China Tourism Group Duty Free Corporation (01880): Total operating income for the first three quarters amounted to 43.021 billion yuan, a decrease of 15.38% year-on-year; net income was 3.92 billion yuan, a decrease of 24.7% year-on-year.
Key data.
20:30 USA Import Price Index MoM
