Hot news

• The 12th session of the 14th National People's Congress Standing Committee was held in Beijing from November 4 to 8

The 32nd meeting of chairpersons of the 14th National People's Congress Standing Committee was held at the Great Hall of the People in Beijing on the morning of the 25th. Chairman **** presided over the meeting. The meeting decided that the 12th session of the 14th National People's Congress Standing Committee will be held in Beijing from November 4 to 8.

• Profits of industrial enterprises above the size of China fell 27.1% year on year in September, and profits in the consumer goods industry grew steadily

In the first nine months of this year, profits in the high-tech manufacturing industry increased 6.3% year on year, 9.8 percentage points higher than the regulated industrial average, driving regulated industrial profits to increase by 1.1 percentage points, providing important support for regulated industrial profits. Some consumer goods industries maintained relatively rapid growth. In the first nine months, profits in textile, furniture, agricultural and sideline food, culture, education, industry and beauty industries increased by 11.5%, 11.0%, 6.6%, and 5.4%, respectively.

• Central Bank: Launch an open market buyout reverse repurchase operation tool

The central bank announced that the People's Bank of China has decided to use an open market buyout reverse repurchase operation tool from now on. The target of the operation is first-level traders in the open market business. In principle, the operation is carried out once a month for no more than 1 year. Open market buyout reverse repurchases use fixed quantities, interest rate tenders, and multiple price wins. The repurchases include treasury bonds, local government bonds, financial bonds, corporate credit bonds, etc. The results of the operation will be disclosed to the public through the relevant section of the official website of the People's Bank of China.

• Competition is heating up! The US election entered the “final sprint”, and early voter turnout reached a record high

The 2024 US election has entered the final sprint stage, and many states have begun early voting. The current poll results for the Democratic candidate, Vice President Kamala Harris, and Republican candidate and former President Donald Trump are mixed. November 5 is voting day for the US election, but many states in the US allow voters to vote early. According to reports, the number of voters who participated in early voting set records in the two key swing states of North Carolina and Georgia.

• NYSE official announcement: plans to extend the US stock trading period to 22 hours a day

On Friday, the US New York Stock Exchange issued an announcement stating that it plans to extend the trading hours of its fully electronic exchange NYSE Arca to 22 hours every working day, subject to regulatory approval. The NYSE said that the extended trading hours will begin at 1:30 a.m. EST on weekdays (corresponding to 1:30 p.m. Beijing time in North America) and continue until 23:30 in the middle of the night (11:30 a.m. Beijing time).

• The deep logic of the sharp drop in US debt is hidden in the Dallas Federal Reserve Chairman's speech

Dallas Federal Reserve Governor Lorie Logan said that the sharp drop in US debt stemmed from tightening market financing conditions due to downsizing, and the market must “tolerate normal, moderate, and short-term pressure”; if they want to improve market liquidity through the Federal Reserve's repurchase and settlement mechanism, the results are currently limited. Bank of America Merrill Lynch added the “key point” missed in Logan's speech: if the debt ceiling is hit again, the Treasury General Account (TGA) balance will drop. This is a key sign that suppresses the financing market and will affect the market's confidence in assets such as US bonds.

• Gold and crude oil opened and plummeted! Israel did not attack Iran's oil facilities, and Iran did not retaliate

Gold and crude oil opened on Monday and plummeted. Spot gold opened as low as $15 to $2,731 per ounce. WTI crude oil futures opened sharply and fell by more than 5% to $68.11 per barrel because Israel's air strike on Iran, which was widely expected, did not hit key oil facilities. Israeli warplanes and missiles targeted Iran's air defense base and military infrastructure last Saturday. The scale of this attack has led some experts to speculate that there will be no significant escalation of tension.

Resumption of US stock trading

• Last Friday, the three major indices had mixed ups and downs. The NASDAQ once reached a record high in the intraday period, and the China General Index rose more than 1%

On Friday, the three major US stock indices had mixed ups and downs. The Dow and S&P closed down slightly, and the NASDAQ rose 0.56% to a record high in the intraday period. Last week, the S&P 500 index had a cumulative weekly decline of 0.96%, the Dow down 2.68%, and the NASDAQ rose 0.16%.

Large technology stocks rose collectively; Tesla rose more than 3%, Google rose more than 1%, Meta, Nvidia, Microsoft, etc. rose nearly 1%.

Popular Chinese securities generally rose. The Nasdaq China Golden Dragon Index rose 1.38%, with a cumulative decrease of 0.52% last week; Xiaopeng Motor rose more than 6%, and NIO, Ideal Auto, and Bilibili rose more than 3%.

• Apple AI feature Apple Intelligence officially launched this week

$Apple (AAPL.US)$ It was announced that its high-profile Apple Intelligence feature will be officially launched on October 28, the release date of the iOS 18.1 version. In iOS 18.1, Apple Intelligence will introduce a range of advanced artificial intelligence features. These features include: 1. A writing tool suite for text proofreading and rewriting: to help users optimize text input and improve writing quality. 2. Photo cleaning: Automatically recognizes and organizes photos in the phone to optimize storage space. 3. Notification Summary: Organize notifications intelligently to allow users to obtain important information faster. 4. Enhanced Siri functions: Improve the interactive experience of voice assistants and provide more accurate information and suggestions.

• Apple tests blood sugar app, underscores its ambition to enter the health sector

According to people familiar with the matter, Apple, which is seeking further entry into the medical field, tested an app this year to help pre-diabetic patients control their food intake and change their lifestyle. Apple tested the service on select employees earlier this year as part of the company's broader promotion of blood sugar capabilities. Although Apple has no plans to release this app, the company may eventually incorporate this technology into future health products, including a non-invasive blood sugar tracker that has been developed for more than a decade.

• Microsoft will consider whether to invest in Bitcoin

Tech giants with a market capitalization of more than $3 trillion, according to documents disclosed by the US Securities and Exchange Commission (SEC) $Microsoft (MSFT.US)$ It is considering entering Bitcoin and plans to vote on proposals to evaluate investment in Bitcoin at the annual conference to be held in December. Shareholders, including Pilot, BlackRock, and State Street Group, will be eligible to vote on Microsoft's proposal in December. However, the Microsoft board of directors expressed opposition to a possible vote in December, believing that the voting action was unnecessary.

• How difficult is it to short US stocks? The money Tesla bears made this year was lost in a day

Since the financial report surpassed expectations, on Thursday,$Tesla (TSLA.US)$ The stock price rose 22% in one day, the biggest one-day increase since 2013, and the market capitalization increased by 150 billion dollars. Shorters also experienced a rapid evaporation of wealth as a result. According to a report by S3 Partners, bears have suffered a market capitalization loss of about 3.5 billion US dollars in this market, sweeping away their profit of 1.7 billion US dollars so far this year, and leading to a current book loss of 1.8 billion US dollars.

• Alibaba and the US were charged with monopoly and reached a settlement and agreed to pay more than 3 billion yuan

$Alibaba (BABA.US)$ According to reports, they have agreed to pay 0.4335 billion US dollars (about 3.087 billion yuan) to settle class action lawsuits brought by shareholders. This amount is one of the 50 largest securities class action lawsuits in the US since the Private Securities Litigation Reform Act was passed in 1995. According to Alibaba's announcement to regulators, the company has agreed to a settlement to avoid the cost and other effects of further lawsuits, but denies any allegations of its faults, liability, misconduct or damage. According to data, in March of last year, the US District Court for the Southern District of New York received a class action lawsuit accusing Alibaba of violating federal securities laws and making multiple false statements about antitrust and exclusivity, artificially boosting stock prices and causing financial losses to investors.

• TSMC's price below 5nm may rise again next year, and 2nm foundry prices soar to 0.03 million US dollars

According to media quoting industry sources, $Taiwan Semiconductor (TSM.US)$ In order to reduce the gross margin impact caused by the high operating costs and 2nm deployment costs of overseas factories, the 2025 OEM quotation has recently been released to many customers. Depending on the customer, product, and production capacity scale, the OEM price increase for the 5nm, 4nm, and 3nm processes was higher than previously estimated by about 4%, up to 10%, and the 2nm OEM price soared to 0.03 million US dollars.

• Intel announced an investment of more than 28 billion dollars to build two chip factories in Ohio

10/25, $Intel (INTC.US)$ It was announced that it plans to build two new cutting-edge chip factories in Ohio, with an initial investment of more than 28 billion US dollars. The initial phase of the project is expected to create 3,000 Intel jobs, 7,000 construction jobs during construction, and tens of thousands of additional local long-term jobs for a broad ecosystem of suppliers and partners. Meanwhile, to support the development of the new base, Intel promised to invest an additional 0.1 billion US dollars to cooperate with educational institutions to establish talent channels and support research projects in the region.

• Wenyuan Zhixing landed on the NASDAQ and closed up nearly 7% on the first day

Last Friday, autonomous driving company Wenyuan Zhixing $WeRide (WRD.US)$ It was officially listed on the NASDAQ stock exchange, with the stock code “WRD”, becoming the first share of a global autonomous driving company and the first share of Robotaxi (driverless taxi) in the world. The price of this public offering is $15.5 per American Depositary Share. Assuming that the underwriter exercises all of the over-allotment rights, the company will publicly issue a total of 8,903,760 American Depositary Shares. On the first day of listing, Wenyuan Zhixing once rose more than 27% intraday, triggeringFusedThe increase fell back to 6.77% at the close.

Hong Kong Market Outlook

• Beishui raised nearly HK$1.2 billion for Ali, added more than HK$0.9 billion for Xiaomi, and sold over HK$0.5 billion for Meituan

On October 25 (Friday), Southbound made a net purchase of HK$9.201 billion in Hong Kong stocks.

$TRACKER FUND OF HONG KONG (02800.HK)$,$BABA-W (09988.HK)$,$XIAOMI-W (01810.HK)$Net purchases of HK$2.187 billion, HK$1.173 billion and HK$0.947 billion respectively;$MEITUAN-W (03690.HK)$,$CHINA MOBILE (00941.HK)$,$CNOOC (00883.HK)$Net sales were HK$0.534 billion, HK$0.384 billion, and HK$0.213 billion respectively.

• After BYD rebounded at a low level of more than 60%, the market focused on “overseas stories”

$BYD COMPANY (01211.HK)$ Q3 quarterly revenue is expected to surpass Tesla for the first time and reach a record high, but achieving this year's overseas sales target is challenging. According to Damo, to achieve this goal, BYD's average overseas monthly sales volume for the fourth quarter will be 54% higher than the average for the first nine months of this year, and the company needs to make every effort.

• China Shenhua's Q3 revenue increased 3.4% year on year, and net profit increased 13.8% year on year

$CHINA SHENHUA (01088.HK)$ Third quarter financial results were announced. In the third quarter, revenue was 85.821 billion yuan, up 3.4% year on year; revenue for the first three quarters was 253.899 billion yuan, up 0.6% year on year; in the third quarter, current profit attributable to company owners was about 17.798 billion yuan, up 13.8% year on year; profit was 50.569 billion yuan, down 3.7% year on year.

Today's attention

Keywords：US October Dallas Federal Reserve Business Activity Index

On Monday, in terms of economic data, the US will release data such as the Dallas Federal Reserve Business Activity Index for October.

In terms of performance, in the Hong Kong stock market$CNOOC (00883.HK)$The latest results will be announced in the US stock market$Royal Philips (PHG.US)$,$Ford Motor (F.US)$Other companies will also be on the list.

In terms of IPOs, US IPOs$Luda Technology Group (LUD.US)$,$Drugs Made in America Acquisition Corp. (DMAAU.US)$,$Peak Resources (PRB.US)$,$Brazil Potash Corp. (GRO.US)$Will be listed.

Futubull Chen read:

A real investor doesn't invest money at will like gambling; he will only invest in tools that have sufficient potential to make a profit.

—Roy Newberg

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