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Futu Morning News | Nvidia returns to the $3 trillion club! Receives support from famous investors; rate cut in sight? Fed Governor Lael Brainard: inflation control is now in sight
BNP Paribas: With the approaching of the Fed's interest rate cut, the S&P 500 index will maintain a "buy on dips" mode; Rivian receives a $500 million investment from Volkswagen in Germany, and the stock price soars more than 50% after hours; Novo Nordisk's semaglutide for obesity treatment has been approved in China, and the stock price hits a new record high again.
Goldman Sachs talks about 'China high dividend strategy': still undervalued.
Goldman Sachs analysts believe that Chinese dividend assets have not received sufficient attention. With the catalysts of policies, free cash flow, and interest rate cuts, the high dividend concept is expected to continue to rise, and the demand for dividend assets may become a structural long-term trend.
Mid-year inventory | 300 billion funds sweep Hong Kong stocks! Northbound funds net inflow this year has exceeded the full year of last year, with beginning-with-middle-letter stocks being the most sought after. Tencent received an additional 7 billion Ho
According to the latest data statistics, Southbound funds have been net inflows for six consecutive months this year. As of June 21, the accumulated inflow of Southbound funds into Hong Kong stocks has reached as high as HKD 362.1 billion, exceeding the full-year inflow in 2023 (HKD 318.8 billion).
"Hawkish rate cuts" are gradually approaching. What is the investment value of Hong Kong banks?
In this cycle, the stock prices of hk based banks are only positively correlated with the expectation and trend of interest rate increases by the Federal Reserve.
Another one! Bank of Ningbo has announced the termination of its contract with PwC. Bank of Shanghai, Bank of Suzhou, and Minsheng Bank have not yet made any statement.
① The Bank of Ningbo issued an announcement announcing the cancellation of the “Proposal on Hiring an External Auditor” which has been reviewed and approved by the 2023 Annual General Meeting of Shareholders. ② According to Wind statistics, there are 107 A-share listed companies whose 2023 annual reports were audited by PricewaterhouseCoopers. Among them, there are 6 banks.
Are there still deposit products with an interest rate of 3% or more in small and medium-sized banks that continue to lower interest rates? Expert: The third quarter may usher in a new round of deposit rate cuts, and the downward space will be narrowed.
Recently, the continued reduction of deposit interest rates by small and medium-sized banks has once again attracted attention. However, even after this adjustment, some banks still offer deposit interest rates of 3% or higher. Experts believe that under the trend of shrinking interest rate spreads and deposit regularity, the third quarter is likely to start a new round of deposit interest rate cuts, but the space for further reduction of deposit interest rates may be narrowed compared to the first half of the year.
Bank of Communications will cancel these types of cards starting from June 28. Multiple state-owned banks are still reminding customers to close their dormant accounts.
① Recently, the Bank of Communications published an article on its official website stating that from June 28, 2024, the bank will process the sale of Pacific World Expo prepaid cards that have exceeded their validity period and have not had a transaction record for many years. This is also the first case of a major state-owned bank carrying out a special overhaul of a single type of bank card during the year. ② In addition to specifically rectifying a single type of bank card, many major state-owned banks have continued to carry out “sleeping account” reminder campaigns recently.
Mid-year review | Hong Kong high-yield stock gains list released! Oil and bank stocks lead the way, Cosco Shipping Holdings and CNOOC rose by over 80% this year.
BOCI Securities recommends investors to closely monitor selected high dividend yield stocks in the telecommunications, banking, energy, electrical utilities, and construction sectors.
Hong Kong stock market rebounds strongly! Both the technology and national indexes rose more than 3%, the Hang Seng Index surged nearly 3% to return to 18,000 points; network technology stocks soared, B station surged nearly 19%.
The Hong Kong stock market welcomes a long-awaited surge, with the three major indexes showing a strong upward trend. As of the close, the Hang Seng Index rose by 2.87%, up more than 500 points, returning to the 18,000-point mark. The CSI and Hang Seng Tech Index rose by 3.45% and 3.65% respectively, while the SCI returned above 3,800 points.
After the "Withdrawal of Gold Order", state-owned enterprises under central government control are accelerating their exit. Huishang Bank once again became a victim of Ma Steel Group's clearance of its equity, and Ansteel Group is also clearing out its st
Ma Steel Group plans to list and sell 0.0127% equity of Huishang Bank with a transfer bottom price of RMB 15.716 million. COFCO Group and China CSSC are also listing and withdrawing their equity in Huishang Bank. After the "Gold Exit Order," central enterprises are speeding up their exit. Angang Group, a central enterprise, has also started clearing its shareholding in financial institutions.
Hong Kong stocks mid-day review | Hong Kong stocks strong rally, all three indices rose by about 2%; technology, banks, and auto stocks all soared, and B station rose by over 12%, hitting a new high in nearly 10 months.
In the morning session of Hong Kong stocks, the three major indices opened higher and rose. As of the noon break, the Hang Seng Index rose 1.95%, up nearly 350 points, returning to above 18,000 points. The national index and the Hang Seng Tech Index rose by 2.27% and 1.96%, respectively, and market sentiment improved significantly.
Mid-day overview: All three major indexes rose by over 1%, with network technology stocks, autos, and mainland China banking stocks up. Bilibili rose over 10%.
Network technology stocks rose, SenseTime rose more than 7%, Xiaomi Group rose more than 3%, Netease, Tencent, Alibaba, and jd.com all rose more than 1%.
Chung Yuan Mortgage: In May, the number of registered elderly mortgages fell by 19% compared to the previous month, reaching 22 cases, a new low in 10 months.
According to the statistics from the Zhongyuan Mortgage Research Department and the Land Registration Office, there were 22 registrations for elderly mortgages in May, which decreased by 5 compared to April, a drop of 18.5% from the previous month, hitting a 10-month low.
Hong Kong stock market noon update | all three major indexes fell sharply, with internal banking, marine transportation, and golden industrial concept stocks falling. COSCO Shipping Holdings fell nearly 13%, and Zhaojin Mining fell nearly 11%.
The three major indexes in Hong Kong all fell collectively. As of noon break, the Hang Seng Index fell 1.67%, and at one point during the day, it fell below the 18,000 point mark. The Technology Index fell 1.24%, and the State-Owned Enterprise Index fell 1.68%.
Bank of communications announced that it will concentrate on cleaning up this type of debit card. What is the situation? Industry insiders: upgrading and replacing to save costs.
On June 7, Bank of Communications announced on its official website that in order to further improve its account services, it will concentrate on clearing unit debit cards, and existing accounts will be transferred for balance and cancelled. Customers who have further card needs can apply for a unit settlement card at the Bank of Communications branch. Industry insiders believe that this move can be seen as clearing some bank businesses that already have better alternatives and is conducive to cost savings.
Futu Morning Post | European Central Bank lowered interest rates as scheduled by 25 basis points; Gamestop rose more than 30% in after-hours trading.
According to Goldman Sachs, the US stock market will continue to rise in the second half of the year, but there should be "moderate expectations" for the remaining time of the year's ROI; while for Morgan Stanley, the recent drop in international oil prices is only temporary, and it is expected to rise again in the coming months.
Under the pressure of rising non-performing loan ratio, zybank continues to increase its efforts in disposing of non-performing assets. Ten branches have taken actions within this year.
On June 5th, Zhongyuan Bank's Pingdingshan branch released five pieces of information on the transfer of non-performing assets on the Silver Register Center, and at least 10 branches of the bank have carried out non-performing asset transfers this year. Experts believe that in recent years, commercial banks have continued to write off bad debts and maintain a stable level of NPLs. In the future, with the development of fintech and the expansion of channels for handling non-performing assets, there is still room for improvement in the bad loan ratio of the banking industry.
Completely remove! Minsheng Bank suspends the 'Sui Xin Cun' and 'Li Duo Duo' automatic purchase and renewal services. Experts say the trend of deposit regularity is increasing, and the listed interest rate will continue to decline.
Minsheng Bank announced that it will stop the automatic purchase and automatic renewal services for the "Flexible Savings" and "Li Duo Duo" products from June 13th, and this business will be completely removed after the expiration of current stock products. Experts believe that in recent years, the trend of deposit becoming more and more fixed-term has intensified, and banks urgently need to adjust long-term, high-interest deposit products to relieve the pressure on the liability side, and there is still a need to lower the listed deposit interest rates in the future.
Futu Morning News | US labor market cools down! Forward pricing for Fed interest rate cut brought forward to November
April's JOLTS job vacancy unexpectedly hit a three-year low; During the ChatGPT strike, Google Gemini benefited with a surge in search volume of 60%; Strategists warn that the US stock market may experience a potential 10% drop in the near future.
It continues! Several small and medium-sized banks have lowered the listed deposit rates for some terms starting from June, and the decline can reach up to 30 basis points.
Some small and medium-sized banks have used the deposit interest rate marketization adjustment mechanism and reasonably reduced their cost of debt to improve their operation according to the deposit market and their own operating conditions, which expands the space for further benefiting the real economy. The adjustment time and amplitude of different banks vary according to their own situation and referring to similar banks.