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: Jiang Yuanhua

According to the latest statistics from TrendForce, in the third quarter of 2024, the global sales volume of new energy vehicles such as pure electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), and hydrogen fuel cell vehicles reached 4.123 million units, a 19.3% increase compared to the same period last year. It is estimated that the annual sales volume of new energy vehicles in 2024 will reach 16.26 million units, with an annual growth rate of 24.8%. As for PHEVs, in the third quarter, global sales of plug-in hybrid electric vehicles reached 1.612 million units, a year-on-year increase of 55.3%. Currently, the Chinese market accounts for as high as 80% of global PHEV sales, and Chinese brands cover multiple positions in the top 10.

The top-selling brand $BYD COMPANY (01211.HK)$ maintains its lead, with both its sales volume and market share in the third quarter reaching record highs, exceeding 40%. Ranking second and third, $Li Auto (LI.US)$ and Aoding also achieved record high sales in a single quarter, but their market share has yet to surpass 10%. In addition, the seventh position is occupied by Chery, which made its debut on the list, actively catching up on new energy vehicle technology in recent years and leaning towards PHEV in powertrain. Due to the intense competition in the Chinese market, the sales volumes and market shares between the fourth and tenth places in the third quarter are very close, making it difficult for brands to maintain market share.

TrendForce said that in the third quarter, pure electric vehicle sales reached 2.509 million units, a 3.9% annual increase.$Tesla (TSLA.US)$With an 18.5% market share, Tesla ranks first in sales, while BYD ranks second with a 17.5% share. The sales proportion of its BEVs within the group has dropped below 40% for the first time among all types of power vehicles.

In the third quarter, the global BEV sales ranked third to fifth respectively by SAIC-GM-Wuling, Volkswagen, and GAC Aion. Only SAIC-GM-Wuling achieved year-on-year growth. Chinese brands, focusing on cost performance as a selling point and targeting young consumers, performed well in the third quarter, ranking seventh in BEV sales. $LEAPMOTOR (09863.HK)$ Leapmotor and its joint venture have started to enter the European market. Leveraging Stellantis' European factories for local assembly and drawing on its sales experience will help expand into new markets. $Stellantis NV (STLA.US)$ Leapmotor and its joint venture have started to enter the European market. Leveraging Stellantis' European factories for local assembly and drawing on its sales experience will help expand into new markets.

Editor/Jeffy