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%.

Geely autos opened with an increase of nearly 6%, and as of the time of publication, it rose by 5.02%, priced at 13.8 Hong Kong dollars, with a transaction volume of 0.645 billion Hong Kong dollars.

According to the disclosure documents from the Hong Kong Stock Exchange, Geely autos' board of directors chairman Li Shufu purchased a total of 24.2 million shares of Geely autos on November 26 and 27. Based on the average price, the expenditure was about 0.316 billion Hong Kong dollars, increasing his shareholding from 41.19% to 41.40%.

CMB International's previous research reports pointed out that the sales forecast for Geely in the coming year was raised by 18% to 2.38 million vehicles, based on the popularity of recently launched electric vehicles, estimating that the company's electric vehicle sales will increase by 51% year-on-year to 1.32 million vehicles, accounting for 55% of total sales.

Editor/Lambor