①President-elect Trump of the USA met with Prime Minister Trudeau of Canada. ②The USA plans to impose tariffs as high as 271% on imported solar energy from four Southeast Asian countries. ③Last Friday, the three major US stock indices collectively rose, with most popular China concept stocks seeing gains. ④US stock funds attracted $12.78 billion in inflows, marking the fourth consecutive week of capital inflows. ⑤BYD, Xiaopeng Motors, and NIO released their November sales figures.
Financial Association News on December 2nd (Editor Tonggu): Hong Kong stock pre-market news today:
Hot news
【Trump and Trudeau confront each other: Trudeau urgently visits Mar-a-Lago, Trump says the meeting is very productive】
President-elect Trump of the USA met with Prime Minister Trudeau of Canada to discuss important issues such as the drug crisis and trade deficit; Trudeau is the first G7 leader to visit Mar-a-Lago after the US election, aiming to prevent Trump from imposing tariffs on Canadian products; Trump recently hinted at imposing a 25% tariff on products from Canada and Mexico to address drug and illegal immigration issues, but the specifics are still uncertain.
【USA plans to impose tariffs as high as 271% on imported solar energy from four Southeast Asian countries】
The US Department of Commerce preliminarily ruled on November 29th that solar energy imports from Southeast Asia were unfairly sold in the USA at prices below their production costs, proposing tariffs of up to 271% on these imports.
【US stock funds attract a crazy $12.78 billion in inflows, marking the fourth consecutive week of capital inflows】
In the week ending November 27, investors in the usa invested a large amount of money into stocks funds, thanks to the appointment of new officials in Trump's administration and the decline in usa treasury yields, which alleviated concerns about the outlook for growth stocks.
S&P warns: Trump's tariffs may lead to a 17% decrease in profits for European and American automakers.
S&P released a report stating that if the US imposes the 25% import tariffs on Europe, Mexico, and Canada as mentioned by Trump, European and American auto manufacturers will average a 17% profit loss.
Global Markets
In the US stock market, the Dow Jones Industrial Average rose 7.54% in November, the last time it performed so strongly was in November last year when it rose 8.77%; the S&P rose 5.73%, also the largest monthly gain in a year; the Nasdaq rose 6.21%.
All three major indexes rose collectively last Friday. As of the close, the Dow Jones Industrial Average rose by 0.42% to 44,910.65 points; the S&P 500 rose by 0.56% to 6,032.38 points, both setting new historical records for intraday and closing; the Nasdaq Composite Index rose by 0.83% to 19,218.17 points.
Most large tech stocks rose, with Apple up 1.02%, Nvidia up 2.15%, Microsoft up 0.11%, Amazon up 1.05%, Google Class C down 0.19%, Meta up 0.90%, and Tesla up 3.69%.
In terms of China Concept Stocks, the Nasdaq Golden Dragon Index rose by 0.60%, with most popular Chinese concept stocks rising. Miniso rose by 8.22%, Nio rose by 2.28%, XPeng Motors rose by 1.59%, Li Auto rose by 1.18%, Alibaba rose by 0.90%, JD.com rose by 0.51%, Baidu rose by 0.27%, Tencent Music down by 0.87%, New Oriental down by 2.02%, PDD Holdings down by 2.27%, and TAL Education down by 3.97%.
Hong Kong's three major indexes strengthened last Friday, with the Hang Seng Index up 0.29% to 19423.61 points; the Hang Seng China Enterprises Index up 0.32% to 6946.68 points; and the Hang Seng Tech Index up 1.06% to 4353.55 points.
Looking at individual stock trends, local consumption, gambling, photovoltaics, and pharmaceutical stocks led the way in Hong Kong.
Company News:
BYD shares (01211): In November, sales of new energy vehicles were 0.5068 million units, with a total of 3.7573 million units from January to November, a year-on-year increase of 40.02%.
XPeng Motors (09868): In November, delivered 30,895 vehicles, a year-on-year increase of 54% and a month-on-month increase of 29%. Monthly deliveries exceeded 0.03 million for the first time and set a new monthly delivery record for three consecutive months.
NIO (09868): Delivered 20,575 vehicles in November, a 28.9% year-on-year increase. A total of 190,832 vehicles have been delivered since 2024, a 34.4% year-on-year increase. As of November 30, 2024, the cumulative delivery volume reached 640,426 vehicles.
Meituan (03690): In the third quarter, revenue was 93.577 billion yuan, a 22.4% year-on-year increase; net income was 12.865 billion yuan, a 258% year-on-year increase; adjusted EBITDA was 14.529 billion yuan, a 134.8% year-on-year increase.
MINISO (09896): Revenue for the first three quarters was 12.281 billion yuan, up 22.8% year-on-year; profit was 1.826 billion yuan, up 11.6% year-on-year. This was mainly due to an 18.5% year-on-year increase in the average number of group-level stores and low single-digit growth in same-store sales. In the third quarter, revenue was 4.523 billion yuan, up 19.3% year-on-year; profit was 0.648 billion yuan, up 4.9% year-on-year.
Tongdao Liepin (06100): The revenue in the first three quarters is approximately 1.517 billion yuan, with a net income of 91.288 million yuan, a year-on-year growth of 126.56%. Among them, the third quarter revenue is approximately 0.503 billion yuan, with a net income of 45.955 million yuan, a year-on-year growth of 43.64%.
LK Tech (00558): Released the interim performance for the six months ending on September 30, 2024, with a revenue of 2.594 billion Hong Kong dollars and a net income of 0.148 billion Hong Kong dollars. Continuous R&D of over-ten-thousand-ton dual-pressure die-casting machines and TPI semi-solid magnesium alloy die-casting machines, both pioneering in the industry.
China Gas Hold (00384): Announced the interim performance for the six months ending on September 30, 2024, with a revenue of approximately 35.105 billion Hong Kong dollars and a net income of approximately 1.761 billion Hong Kong dollars.
Perfect Medical (01830): Released the interim performance, with a revenue of 0.62 billion Hong Kong dollars, a year-on-year decrease of 13.6%; a net income of 0.141 billion Hong Kong dollars, a year-on-year decrease of 15.4%.
Asia Standard (00129): Announced the interim performance for the six months ending on September 30, 2024, with a revenue of 1.583 billion Hong Kong dollars, a year-on-year growth of 76%; a loss of 0.386 billion Hong Kong dollars, a year-on-year narrowing of 58%.
Suteng Juchuang (02498): Revenue in the first 9 months is 1.135 billion yuan, a year-on-year increase of 91.51%; a loss of 0.351 billion yuan, a year-on-year narrowing of 69.03%.
Important data
17:00 Eurozone November SPGI Manufacturing PMI Final Value
18:00 Eurozone unemployment rate for October
22:45 Final value of SPGI Manufacturing PMI for November in USA
23:00 ISM Manufacturing PMI for November in USA
