Hot News
Trump announced a series of executive orders, including the repeal of electric vehicle incentives to save the traditional auto industry in the USA.
At noon on the 20th Eastern Time, Trump was sworn in as the 47th president of the USA in the Capitol Rotunda in Washington. Subsequently, Trump delivered his inaugural speech and announced that he would sign a series of executive orders, including: declaring a national emergency at the southern border and sending troops to resist the so-called "catastrophic invasion" of illegal immigrants; declaring a national energy emergency, increasing the extraction of traditional energy, ending the Biden administration's "Green New Deal," and revoking electric vehicle subsidies to save the traditional American auto industry; establishing a Foreign Tax Office to impose tariffs on foreign imported products; announcing that the U.S. government will only recognize two genders; renaming the "Gulf of Mexico" to the "Gulf of America"; expanding American territory to plant the American flag on new horizons; and sending American astronauts to Mars.
In addition, Trump signed an executive order declaring that the USA would withdraw from the Paris Agreement on climate change and abolish nearly 80 policies of the Biden administration.
Trump expressed hope to visit China within 100 days of taking office, and the foreign ministry responded.
According to the Global Times, foreign ministry spokesperson Mao Ning hosted a regular press conference on January 20, where a foreign media reporter asked: According to reports, the U.S. president-elect Trump expressed hope to visit China within 100 days of taking office. What is the spokesperson's response? Foreign ministry spokesperson Mao Ning stated that China is willing to work with the new U.S. government, under the strategic leadership of the two heads of state, based on mutual respect, peaceful coexistence, and win-win cooperation principles, to maintain communication, strengthen cooperation, appropriately manage differences, and promote greater progress in China-U.S. relations from a new starting point.
The President of China stated that more proactive macro policies would be implemented in 2025 to promote high-level technology independence and self-reliance.
**** emphasized that 2025 marks the end of the 14th Five-Year Plan. It is necessary to uphold the overall tone of seeking progress while maintaining stability, implement more proactive macro policies, focus on high-quality development, promote high-level technology independence and self-reliance, maintain a good momentum in economic and social development, and successfully complete the objectives and tasks of the 14th Five-Year Plan to lay a solid foundation for a good start in the 15th Five-Year Plan. Various democratic parties, the Federation of Industry and Commerce, and nonpartisan individuals should focus on the center, serve the overall situation, exert their respective advantages, and more widely unite people's hearts, consensus, wisdom, and strength.
Li Qiang stated that more proactive fiscal policies and moderately loose monetary policies should be implemented to cultivate more new economic growth points.
Li Qiang emphasized the need to fully implement the decisions and deployments of the Party Central Committee and promote high-quality development to achieve new results. A more proactive fiscal policy and moderately loose monetary policy should be implemented, with fiscal policy actively driving actual expenditure as soon as possible, and monetary policy maintaining ample liquidity to ensure sufficient funds flow into the real economy, while paying attention to the coordination and cooperation of policies to provide strong policy support for responding to challenges and promoting development. At the same time, closely monitor changes in domestic and international situations, timely adjust policy measures, and enrich and improve the policy toolbox.
The Trumps 'issue coins', shocking not only the USA political scene but also leaving the crypto world dumbfounded.
As he returns to the White House, Trump and his wife have launched their personal MeMe coins—Trump Coin and Melania Coin. This move has not only caused a stir in the USA political landscape but also created a huge ripple in the cryptocurrency field. The high-profile issuance of tokens by the Trump couple has sparked a lot of skepticism, as people worry that they are using their presidential status to profit. The family holds 80% of the Trump Coin supply, and once sold off, investors will face significant losses. The crypto community is concerned that this could not only impact Trump’s own reputation but also bring negative effects to the entire cryptocurrency industry.
Goldman Sachs and JPMorgan are bullish on the market outlook: moderate data will provide room for increasing positions, and the impact of U.S. bonds is limited.
JPMorgan pointed out that as long as there are no 'significant negative surprises' from the Trump administration's trade policies, the 'Goldilocks' state of economic data in the USA and the robust earnings of listed companies will provide investors the space to increase their market exposure. Goldman Sachs analysts also stated that the recent high yields on US Treasuries show some pricing discrepancies, but corporate earnings data will drive the returns of the S&P 500 Index. Goldman Sachs expects the yield on 10-year US Treasuries to moderately decline to 4.35% by the end of the year, and the S&P 500 Index to rise to 6500 points due to profit growth.
Company News
After Trump took office, the USD plummeted, and the three major US stock index futures and Chinese assets rose collectively.
On Trump's inauguration day, the overnight US stock market was closed, and the three major index futures rose collectively. As of the time of writing, the Dow Jones Industrial Average futures rose by 0.5%, the S&P 500 Index futures rose by 0.51%, and the NASDAQ 100 Index futures rose by 0.58%.

Due to official confirmation that he would not immediately implement tariff policies on his first day in office, the USD plummeted, with the USD falling over 1.2% during the day, briefly dipping below 108, and hitting a low of 107.91. On the other hand, Chinese Assets surged collectively, the Renminbi appreciated, and A50 Index Futures rose by over 1%.
NVIDIA CEO Jensen Huang was absent from Trump's inauguration ceremony and stated he will continue to collaborate with China.
According to Yuyuantan Tian, $NVIDIA (NVDA.US)$ CEO Huang Renxun did not attend the inauguration ceremony of the US President-elect Trump but appeared in Peking for the company's annual meeting. Previously, Huang Renxun participated in company activities in Shenzhen and Taiwan. In an interview with reporters, he stated, "We have many partners in China, we have worked here for about 25 years, with several thousand employees, so we will continue to work this way (together). We have excellent partners and many projects here." When asked how the business in China was doing, Huang Renxun stated that "everything is going smoothly."
European auto manufacturing stocks generally rose, with reports that Trump would end tax incentives for electric vehicles.
BMW rose over 3.6%, Mercedes-Benz Group rose 2.8%, Porsche P911 rose 2.57%, Volkswagen rose over 1.9%, Stellantis rose 1.7%, while auto parts giant Continental AG rose over 1.1%. Renault, on the other hand, fell over 0.6%. According to reports, an incoming White House official indicated that Trump would end the tax incentives for electric vehicles.
Musk targets TikTok users in the USA: X platform launches Short Video information feed.
It is reported that just as TikTok resumes its services in the USA, the X platform announced the launch of a Short Video information stream service. The company stated that it is introducing a new 'immersive video home' for users in the USA. In the updated software, American users will see a newly added video tab in the bottom menu of the application. By clicking it, they can access the Short Video information stream. Similar to TikTok and other short video applications, users can swipe up on the screen to browse other short videos recommended by the system.
When rumors were rampant, Altman 'dampened the enthusiasm': we cannot achieve AGI in the short term, and expectations need to be lowered quickly.
OpenAI CEO Altman clarified the AGI rumors on Monday, stating that the company will not launch AGI next month and has not developed AGI technology. The company has made some new progress but reminds the public to 'lower expectations by 100 times.' Additionally, University of Pennsylvania professor Mollick also warned that statements about AGI being achieved in the next 1-2 years may be motivated by fundraising or boosting stock valuations, overlooking the current limitations of AI technology itself; achieving true AGI will still take time.
Hong Kong market outlook
The North continues to aggressively buy TENCENT shares near 0.6 billion Hong Kong dollars and Buy Semiconductor Manufacturing International Corporation shares for over 0.3 billion Hong Kong dollars, while selling TRACKER FUND OF HONG KONG shares for over 1.5 billion Hong Kong dollars.
On January 20 (Monday), southbound funds net bought 1.348 billion Hong Kong dollars in Hong Kong stocks.
$TENCENT (00700.HK)$、$CSOP Hang Seng TECH Index ETF (03033.HK)$、$SMIC (00981.HK)$Net purchases totaled 0.56 billion HKD, 0.524 billion HKD, and 0.339 billion HKD respectively.
$TRACKER FUND OF HONG KONG (02800.HK)$、$CNOOC (00883.HK)$、$XIAOMI-W (01810.HK)$Net sales amounted to 1.552 billion Hong Kong dollars, 0.472 billion Hong Kong dollars, and 0.323 billion Hong Kong dollars respectively.
Today's focus
Keywords: Netflix; Canadian CPI; State Council Information Office

In terms of financial data, the Canadian CPI will be released at 21:30 Beijing time.
In terms of financial events, the State Council Information Office will hold a series of press conferences on "The Achievements of High-Quality Economic Development in China" at 15:00, introducing information related to "Vigorously Promoting New Industrialization and Advancing High-Quality Economic Development."
In terms of Earnings Reports, $NEW ORIENTAL-S (09901.HK)$ 、 $EAST BUY (01797.HK)$ The earnings report will be released after the Hong Kong stock market closes. $Netflix (NFLX.US)$ The performance will be released after Post-Market Trading.
Futubull Morning News:
The most dangerous phrase in investing is: this time it's different (the truth is that it is always the same).
——John Templeton
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