① US consumer confidence has declined for the first time in three months. ② The three major US stock indices rose collectively on Monday, with many popular China Concept Stocks strengthening. ③ Musk criticized the excessive number of staff under Fed Chair Powell. ④ The NASDAQ 100 Index has been rebalanced, with Tesla, Meta, and Broadcom decreasing in weight. ⑤ The HKEX will have a half-day trading session on Christmas Eve.
According to Financial Associated Press on December 24 (Editor: Tong Gu), the key news for today's Hong Kong stock market is as follows:
Hot News
[US consumer confidence has declined for the first time in three months]
According to data released by the World Federation of Large Corporations on Monday, the US consumer confidence index for December fell to 104.7, significantly below the expected value of 113.2, marking the first decline in three months. An increasing number of consumers are mentioning politics and tariffs, with 46% of respondents expecting tariffs to raise living costs, while 21% expect tariffs to create more jobs in the USA.
[NASDAQ 100 Index rebalancing: Tesla, Meta, and Broadcom's weight decreases]
The influence of three of the world's largest companies has decreased in the NASDAQ 100 Index, following a surge in the Technology Sector in 2024 that pushed the scale of these stocks to unprecedented levels. Data shows that in the annual rebalancing, the shares held by Tesla, Meta Platforms, and Broadcom have all decreased in the NASDAQ 100 Index. Meanwhile, the weights of Apple, NVIDIA, Microsoft, and Alphabet have increased.
[Musk criticizes the excessive number of staff under Fed Chair Powell]
Last week, the world's richest person, Elon Musk, who just caused a "commotion in Congress" and nearly shut down the USA government while concurrently serving as the co-head of the "Department of Government Efficiency," has set a new target: the Federal Reserve System. Early Monday morning, Musk suddenly expressed in a comment on a post summarizing the Federal Reserve's policy path for next year that the staffing at the Fed is clearly excessive and absolutely outrageous.
[Trump intensively recruits Silicon Valley elites]
Trump announced that Scott Cooper will serve as the Director of the U.S. Office of Personnel Management; Trump also nominated Sriram Krishnan as Senior Policy Advisor for AI in the White House Office of Science and Technology Policy; both choices have ties to a16z, with co-founder Marc Andreessen supporting Trump in this election.
Global market.
The three major U.S. stock indices all rose on Monday. By the close, the Dow Jones Industrial Average was up 0.16% at 42,906.95 points; the S&P 500 Index was up 0.73% at 5,974.07 points; and the tech-heavy Nasdaq Composite Index was up 0.98% at 19,764.89 points.
Most major tech stocks rose, with Apple up 0.31%, NVIDIA up 3.69%, Microsoft down 0.31%, Google C up 1.57%, Amazon up 0.06%, Meta up 2.49%, and Tesla up 2.27%.
In terms of China Concept Stocks, the Nasdaq China Golden Dragon Index rose 0.91%. Most popular China Concept Stocks rose, with ZEEKR up 10.53%, Alibaba up 3.48%, Baidu up 3.10%, New Oriental up 2.76%, Li Auto up 2.33%, JD.com up 1.82%, TAL Education up 1.53%, Xpeng Motors up 1.34%, PDD Holdings up 1.08%, NIO down 1.32%, and Tencent Music down 1.67%.
The three major Hong Kong stock indices collectively rose on Monday. By the close, the Hang Seng Index was up 0.82% at 19,883.13 points; the Technology Index was up 0.31% at 4,457.85 points; and the Hang Seng China Enterprises Index was up 0.98% at 7,213.85 points.
From the market performance, stocks in the Theater, Aviation/airlines Industry, shipping, Machinery, and Banks have strengthened.
Southbound Funds
According to Wind data, southbound funds traded 63.948 billion HKD on Monday, with a net inflow of approximately 2.65 billion HKD. Among them, the Shanghai-Hong Kong Stock Connect had a net inflow of approximately 3.178 billion HKD, while the Shenzhen-Hong Kong Stock Connect experienced a net outflow of approximately 0.528 billion HKD.
Company news
MicroStrategy: Purchased 5,262 Bitcoins at approximately 0.561 billion USD between November 16, 2024, and December 22, 2024, at a price of about 106,662 USD per Bitcoin, achieving a return of 47.4% year-to-date and 73.7% year-to-date since the beginning of the year. As of December 22, 2024, MicroStrategy holds 444,262 Bitcoins at a price of about 62,257 USD per Bitcoin, valued at approximately 27.7 billion USD.
HAITONG SEC (06837): GTJA intends to absorb and merge HAITONG SEC by issuing A shares to all A-share exchange shareholders of HAITONG SEC and issuing H shares to all H-share exchange shareholders of HAITONG SEC, and issue A shares to raise matching funds. The company received a notice from the Shanghai Stock Exchange on December 23, 2024, stating that the application for the exchange absorption merger with HAITONG SEC and the matching funds had been accepted and would be reviewed legally. On the same day, the China Securities Regulatory Commission accepted the administrative licensing application related to this transaction according to the law.
YUEXIU PROPERTY (00123): Successfully won the bid for the land parcel at Dakangwei, Industrial Avenue South, Haizhu District, Guangzhou through public listing by its subsidiary at a price of 2.023 billion yuan.
ITC PROPERTIES (00199): The land use rights for land in Sanya Yazhou Bay Science and Technology City were reclaimed by the Sanya government, with compensation of approximately 0.478 billion yuan.
YINCHENG INTL (01902): The total contract sales for the first 11 months were approximately 2.9138 billion yuan, a year-on-year decrease of 48.2%.
PUBLIC FIN HOLD (00626): Issued a profit warning, expecting an annual loss attributable to Shareholders of approximately 0.8 billion to 1.1 billion Hong Kong dollars.
ZHONGZHIPHARM (03737): Signed an investment agreement with GAB Aeron in the USA to enter the Alzheimer's treatment field.
KANGDA ENV (06136): A subsidiary intends to sell 100% equity of Zhongshan KANGDA Water Affairs for 96.0509 million yuan.
GREENTOWN SER (02869): A subsidiary plans to acquire a 25% equity stake and shareholder loans from Hangzhou Jiancheng for 0.223 billion yuan.
Important Data
21:00 USA November building permit monthly rate revised.
23:00 USA November seasonally adjusted new home sales annual total.
Major Financial Events and International Holidays
The Hong Kong Stock Exchange will have a half-day trade on Christmas Eve.
The London Stock Exchange will close early on Christmas Eve at 20:30 Beijing time.
The Paris Stock Exchange has a half-day trading session on Christmas Eve.
The Frankfurt Stock Exchange will be closed for the day on Christmas Eve.
The NYSE will close early on Christmas Eve at 2:00 on December 25, Beijing time.
The Intercontinental Exchange will end trading on Brent Crude Oil futures contracts early at 3:00 on December 25th Beijing time on Christmas Eve.
