Hot news

• Late night hawkish! Powell: The economy is strong, and the Federal Reserve does not need to rush to cut interest rates.

Federal Reserve Chairman Powell spoke for the first time, stating that the recent performance of the U.S. economy is "fairly good," giving the Fed space to be cautious about interest rate cuts, emphasizing that there is no rush, and that the Fed has time to understand and assess the future economic impact of Trump's policies before reacting.

• The Trump team plans to eliminate the $7,500 electric vehicle tax credit.

Reports indicate that as part of broader tax reform legislation, Trump's transition team is planning to eliminate the $7,500 electric vehicle tax credit, with representatives from Tesla also supporting the termination of the subsidy. The repeal of this subsidy, as a key component of Biden's Inflation Reduction Act, would significantly impact the adoption of electric vehicles in the USA. Due to high vehicle prices and inconsistent charging infrastructure, the adoption rate of electric vehicles in the USA has already declined. Trump previously stated that he would reverse Biden's electric vehicle policies on his first day in office.

• Blackrock aggressively bought apple in Q3, continuing to increase its stake in the "magnificent 7."

Form 13F shows that asset management giant Blackrock continued to increase its stake in U.S. technology's magnificent 7 stocks in the third quarter, among which the... $Apple(AAPL.US)$ Increased shareholding of 43.4 million shares, Microsoft (MSFT.US) 7.5 million shares, $nvidia(NVDA.US)$ 12.35 million shares, $amazon(AMZN.US)$ 18.55 million shares, $Meta Platforms (META.US)$ 0.98 million shares, Tesla (TSLA.US) 4.66 million shares and Google-A (GOOGL.US) also had two splits, the most recent being in 2022. Nvidia is about to undergo its sixth split since 2000. + Example of such tech giants is Google-C (GOOG.US) 6.21 million shares; shareholding $eli lilly and co (LLY.US)$ 1.51 million shares. In addition, Blackrock increased its holdings in berkshire hathaway by 2.59 million shares. As of the end of the third quarter, Blackrock reported a holding value of 4.76 trillion dollars, up from 4.42 trillion dollars last time.

• Buffett's latest holdings: building a position in pizza stocks and reducing exposure for cashing out is the main theme.

The form 13f document shows that berkshire hathaway, owned by Buffett, has newly entered in the third quarter. Domino's Pizza (DPZ.US) 1.27 million shares, swimming pool supplies stocks. $Pool Corp(POOL.US)$ 0.4 million shares. As previously announced, reduced holdings by 0.1 billion shares. $Apple(AAPL.US)$ The hold positions ratio has decreased to 26.24%. Also reduced shareholding. Capital One Financial (COF.US) 、 $Nu Holdings(NU.US)$ and The second-largest cable television operator in the US, Charter Communications, had revenue exceeding expectations, and its stock price reached a 6-month high, rising nearly 30%. Cleared positions. $Floor & Decor (FND.US)$ And Liberty Sirius XM is nearly fully liquidated. $Ulta Beauty (ULTA.US)$ Aside from a slight increase in shareholding in Heico, no additional shareholding operations were made. As of the end of the third quarter, the total market value of Berkshire Hathaway's holdings decreased from 280 billion USD to 266 billion USD.

• The 'smart money' is betting on China: in Q3, the 'big short' prototype increased shareholding in Alibaba and other China concept stocks.

In the third quarter, Michael Burry's fund increased its shareholding by $alibaba(BABA.US)$0.045 million shares to nearly 0.2 million shares, for $JD.com (JD.US)$ The hold positions doubled to 0.5 million shares, with increased shareholding. $baidu (bidu.us)$ Increased from 0.05 million shares to 0.125 million shares, holding three china concept stocks worth 54 million dollars at the end of the quarter, accounting for 65% of the total stock holdings of the fund. At the same time, the fund bought corresponding put options for the three china concept stocks to hedge risks.

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

• Powell dampened interest rate cut expectations, causing the three major indexes to accelerate their decline at the end of the trading day.

Overnight, the three major U.S. stock indexes collectively closed lower, as Federal Reserve Chairman Powell stated that he is not in a hurry to cut interest rates, which dampened investor sentiment. By the close, the Dow fell 0.47%, closing at 43750.86 points; the Nasdaq fell 0.64%, closing at 19107.65 points; the S&P 500 index fell 0.60%, closing at 5949.17 points.

Large tech stocks were mixed, with Google A and Amazon down over 1%, Meta slightly down; Apple up over 1%, Nvidia, Microsoft, Netflix, and Intel slightly up.

China concept stocks fell broadly, with the Nasdaq China Golden Dragon Index closing down 1.81%. Bilibili fell over 12%, Xpeng Motors dropped over 5%, NIO decreased more than 3%, JD.com fell more than 6%, Alibaba declined over 1%, and IQiyi rose over 2%.

• Disney surged over 6%, with its fourth fiscal quarter earnings exceeding expectations along with a $3 billion stock buyback plan.

$Disney (DIS.US)$ It rose over 6% due to the news, as Disney reported its fourth fiscal quarter earnings for the period ending September 30, with revenues of $22.574 billion, a year-on-year increase of 6%, exceeding the market expectation of $22.47 billion; adjusted EPS was $1.14, slightly higher than the expected $1.10. Among them, entertainment business revenue grew by 14%, reaching $10.8 billion, thanks to strong performances in television networks, streaming business, as well as content sales and licensing. Looking ahead, Disney expects adjusted EPS for fiscal year 2025 to achieve high single-digit growth and plans to buy back $3 billion worth of stocks.

• Trump plans to cancel electric vehicle subsidies, leading to a collective drop in electric vehicle stocks.

Trump's team is considering abolishing the $7,500 subsidy policy for electric vehicles to fund its tax cut plan. This policy is one of the Biden administration's measures to combat inflation. Affected by this news, $nikola(NKLA.US)$ closed down 22.76%.$zeekr(ZK.US)$Closed down 23.68%,$Workhorse(WKHS.US)$Closed down 14.49%, "Tesla's strong competitor" $Rivian Automotive(RIVN.US)$ Closed down 14.3%,Wrangler's strategic partnership with Uber Technologies will introduce Wrangler's self-driving cars to the platform starting in the United Arab Emirates.Closed down 17.07%, $Xpeng Motors (XPEV.US)$ Closed down 5.39%. Tesla (TSLA.US) Closed down 5.77%, Jia Yueting's. $Faraday Future Intelligent Electric Inc. (FFIE.US)$ Closed down 2.82%.

• Buffett has newly built a position, and domino's and pool corp surged in after-hours trading.

Berkshire Hathaway, under Buffett, has made new purchases in the third quarter. Domino's Pizza (DPZ.US) 1.27 million shares of pool supplies stocks. $Pool Corp(POOL.US)$ 0.4 million shares. As of the time of writing, domino's rose over 18% after hours. $Pool Corp (POOL.US)$ Rise by more than 6%.

• Super micro computer fell over 11% overnight and will delay the submission of its 10-Q quarterly report.

The semiconductor stocks fell in general. It was stated that due to its continued delays in submitting annual reports, the company is unable to submit the quarterly 10-Q report for the period ending September 30, 2024, in a timely manner. The company fell over 11% overnight and has dropped nearly 23% in the last three days.

• US regulators plan to investigate Microsoft's cloud business.

According to reports, the Federal Trade Commission (FTC) will investigate Microsoft (MSFT.US) anti-competitive behavior in cloud computing business, with a focus on allegations of Microsoft's abuse of market power in the productivity software market. Specific measures under investigation include raising subscription fees for departing customers, imposing high exit fees, and making Office 365 products incompatible with competitors' cloud platforms. This indicates that under the leadership of Chair Lina Khan, the FTC is making ongoing efforts to challenge big tech companies, prioritizing the crackdown on monopolistic practices.

Top 20 in transaction volume

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 northward capital purchased nearly 20 billion HKD in Hong Kong stocks! Bought over 1.6 billion HKD of tencent and increased holdings in alibaba by over 0.9 billion HKD.

On November 14 (Thursday), southbound capital net bought 19.656 billion HKD of Hong Kong stocks today.

$Tracker Fund of Hong Kong (02800.HK)$ received a net purchase of HK$1.615 billion, HK$0.615 billion and HK$0.492 billion, respectively;、$ tencent (00700.HK)$、$alibaba-W (09988.HK)$Net purchases were 4.654 billion HKD, 1.628 billion HKD, and 0.938 billion HKD respectively.

• jd.com's Q3 revenue was 260.4 billion yuan, an increase of 5.1% year-on-year.

JD.com-SW (09618.HK) The third-quarter results announced as of September 30, 2024, show in the financial report: revenue of 260.4 billion yuan (RMB, same below), a year-on-year increase of 5.1%; adjusted net income of 13.2 billion yuan, a year-on-year increase of 23.9%; net income of 11.7 billion yuan, a year-on-year increase of 47.8%.

• bilibili: The adjusted net income for Q3 is 0.236 billion yuan, compared to a net loss of 0.863 billion yuan in the same period last year.

Bilibili-W (09626.HK) The total net sales for Q3 2024 amounted to 7.306 billion yuan, a year-on-year increase of 26%; adjusted net income was 0.236 billion yuan, while there was a net loss of 0.863 billion yuan in the same period last year.

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: Chinese retail sales data, US October retail sales month-on-month, Alibaba's financial report

On Friday, in terms of economic data, China will announce year-on-year data for total retail sales of consumer goods and year-on-year data for industrial value added above a certain scale; the US will release October retail sales month-on-month, October industrial output month-on-month, and November New York Fed manufacturing index, etc.

In terms of performance, Hong Kong stocks $alibaba-W (09988.HK)$ 、 Lenovo Group (00992.HK) 将发布财报。

Regarding new stocks, Hong Kong $China Energy (02582.HK)$ Listed.

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