Finance and Economy Society News on December 4th (Editor Tong Gu): The important information before the Hong Kong stock market today is:

Hot news

South Korean President Yoon Suk-yeol suddenly imposed martial law, with the parliament resisting the military's vote to veto.

After South Korean President Yoon Suk-yeol declared martial law, the parliament convened a meeting to vote for lifting the martial law order, causing severe volatility in various Korean assets; this is South Korea's first time under martial law since 1979.

Subtle changes in the US labor market: job vacancies rebounded.

The latest data from the US shows a rebound in job vacancies, coupled with a slight reduction in layoffs, indicating a stabilization in labor demand. Data released by the US Bureau of Labor Statistics reveals that job vacancies in October rebounded to 7.744 million, exceeding expectations. Meanwhile, the number of layoffs significantly decreased.

The number of CEOs leaving their positions in the US this year hit a record high.

The number of CEO resignations in the United States reached a record high this year, with more than 1800 CEOs announcing their resignations by October, indicating an increased risk appetite and a desire for leaders to address the complex business environment and reverse the company's situation.

【Yen arbitrage trading "leeks prosperous" Bank of Japan reaches out for "interest rate hike sword"】

During this summer, the closure of yen arbitrage trades wiped out approximately $6.4 trillion in market cap from global stock markets in just three weeks, and the Nikkei 225 index experienced its largest single-day decline since 1987. The scale of yen arbitrage trading has gradually returned to its "heyday", and the Bank of Japan's interest rate hike "sword" is likely to fall later this month!

Global Markets

The three major US stock indices closed with mixed results on Tuesday, with the Dow down 0.17%, the Nasdaq up 0.40%, the S&P 500 up 0.05%, and the Nasdaq and S&P 500 indices continuing to set new closing highs.

Gold stocks rose across the board, with Coeur Mining up over 8%, Hecla Mining up over 6%, Pan American Silver up nearly 6%, Anglogold up over 4%, Harmony Gold and Gold Fields up nearly 3%. JPMorgan forecasts that the price of gold will rise to $3000 per ounce next year. Intel fell over 6%, with CEO Pat Gelsinger retiring on December 1st reportedly due to poor performance being ousted by the board of directors. Microchip Technology fell by 7%, as the company lowered its quarterly revenue forecast and closed its factory in Arizona.

The Nasdaq China Golden Dragon Index rose by 1.16%. China concept stocks saw mixed movements, with New Oriental up over 6%, Youdao and NIO up over 5%, and iQiyi up over 3%. On the downside, Bilibili fell by over 3%, JD.com by nearly 1%, Pinduoduo and Baidu by over 0.5%.

The three major Hong Kong stock indices fluctuated and strengthened on Tuesday. At the close, the Hang Seng Index rose by 1% to close at 19746.32 points; the technology index rose by 0.27% to close at 4417.99 points; the Hang Seng China Enterprises Index rose by 0.90% to close at 7072.13 points.

In terms of market performance, pharmaceuticals, real estate, and shipping stocks are among the top gainers.

Southbound funds.

According to Wind Data, southbound funds traded 54.699 billion Hong Kong dollars on Tuesday, with a net inflow of about 0.295 billion Hong Kong dollars. Among them, the Shanghai-Hong Kong Stock Connect had a net inflow of about 0.176 billion Hong Kong dollars, and the Shenzhen-Hong Kong Stock Connect had a net inflow of about 0.119 billion Hong Kong dollars.

Company News:

Yuexiu Property (00123): Accumulated contract sales in the first 11 months amounted to 101.02 billion yuan, a year-on-year decrease of about 24%, accounting for 68.7% of the annual sales target.

Agile Group (03383): Accumulated contract sales in the first 11 months totaled 14.75 billion yuan, a year-on-year decrease of 64.81%.

Zijin Mining Group (02899): Completion of the handover of the La Arena gold mine and Phase 2 project in Peru. As of June 30, 2024, the La Arena gold mine has a total confirmed and probable ore reserve of 22.6 million tons, containing about 8 tons of gold, with an average grade of 0.33 grams per ton.

MMG (01208): Announced major changes in the mineral resource and ore reserve statement as of June 30, 2024: Copper increased by 17%, zinc increased by 14%, lead increased by 10%, molybdenum increased by 62%, cobalt increased by 10%, silver increased by 11%, gold increased by 5%, non-metals decreased.

Ark Health Holdings Limited (06086): Included in the Hang Seng Hong Kong-listed Biotech Index constituents.

Shandong Xinhua Pharmaceutical Co., Ltd. (00719): Azithromycin dry suspension passes the consistency evaluation of quality and efficacy of generic drugs.

Luye Pharma Group Ltd. (02186): Sulinjia approved for listing in mainland China. As of now, Sulinjia has obtained market approval in 17 countries or regions worldwide.

Hutchmed (China) (00013), Innovent Bio (01801): Jointly announced that Ai Youte in combination with Darbeshou has received conditional approval from the National Medical Products Administration of china for the treatment of advanced endometrial cancer.

SciClone Pharmaceuticals International Ltd. - B (06669): Registration application for paclitaxel drug-eluting coronary balloon dilation catheter ACOART CAMELLIA approved by China National Medical Products Administration (NMPA).

Important data

21:15 USA November ADP Employment Change

23:00 USA October Durable Goods Orders MoM Revision

23:00 USA October Factory Order Month-on-Month Rate

23:00 USA November ISM Non-Manufacturing PMI

23:30 USA EIA Crude Oil Inventory Change until the week ending November 29

Financial Events

21:30 ECB President Lagarde gives introductory remarks at the EU Parliament Economic and Monetary Affairs Committee hearing.

21:45 USA 2025 FOMC Voter and St. Louis Fed President Mursaleem delivers a speech.