Source: Zhitong Finance "Since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%)." With the rebound of the stock market, the old adage "Sell in May and Go Away" seems to have been a bad advice once again. Last month, the S&P 500 index rose 4.8%, the best May performance since 2009. The NASDAQ 100 index rose nearly 6.2%, and the NASDAQ Composite Index rose 6.9%. Goldman Sachs FICC & Equities Trading Division said: "History doesn't really support this saying. Don't sell, leave the market (go on vacation), and enjoy the good times." The rising trend is still to be continued? If history is any guide, it may indicate that the rise of the stock market is not over yet. Looking ahead to the rest of 2024, Scott Rubner, Managing Director of the Goldman Sachs Global Markets Division and tactical expert, pointed out the following historical background for investors. Rubner stated that the S&P 500 index has risen 10.7% year-to-date, and since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%). "Since 1950, the median return of the last 7 months of each year (June 1 to December 31) is 5.4%. In the aforementioned 21 cases, the average performance of the last 7 months increased to 8.1%." Rubner added. Rubner also pointed out that the NASDAQ index has risen for 16 consecutive Julys, with an average return of about 4.64%.
Author: Yan Wencai

haichang hldg resumed trading with a high opening of nearly 10%, rising over 34% at one point during the day, and currently up more than 25% at 0.57 Hong Kong dollars.

In terms of news, haichang hldg announced that the company recently entered into a non-binding indicative term sheet with an industrial fund regarding potential financing matters, agreeing that the fund intends to subscribe for the company's issued convertible bonds amounting to 0.1 billion USD. The proceeds will be used for general corporate capital expenditures and working capital, with a higher conversion premium rate compared to the closing price before the suspension of trading. The potential financing matters (if the fund opts to convert all bonds) are expected to result in the fund possibly becoming a major shareholder of the company, while also introducing new directors and senior management and establishing a significant global strategy partnership with the company, involving the company’s current and future business.

The announcement states that the fund is currently an independent third party to the company, focusing on investment opportunities in the growth stage of china's modern service industry. Its main investors are well-known enterprises with long-term and rich experience in offline and online operation services, possessing abundant traffic resources and having actively laid out in the cultural tourism sector.

Editor/Jeffy