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New Oriental Newsroom
CCTV interprets a more proactive fiscal policy: next year's fiscal funding will be allocated earlier, faster, and in greater amounts.
Next year, a more proactive fiscal policy will be implemented. What measures will the Ministry of Finance take? Where will the fiscal funds be focused? What impact will this have on our lives?
U.S. stocks closed higher | The three major Indexes collectively rose, with the Nasdaq increasing by nearly 1%; chip stocks surged, with Broadcom and Taiwan Semiconductor rising over 5%, and NVIDIA increasing nearly 4%.
① The Nasdaq China Golden Dragon Index rose by 0.91%; ② The PHLX Semiconductor Index rose by over 3%; ③ MicroStrategy purchased 5,262 Bitcoins; ④ The suspect in the UnitedHealth executive's murder case pleaded not guilty.
Hong Kong stock market morning report for December 24: The three major U.S. Indexes closed higher, and HKEX will have a half-day trading session due to Christmas.
① Consumer confidence in the USA has declined for the first time in three months. ② The three major US stock indices collectively closed higher on Monday, with most China Concept Stocks showing strength. ③ Musk criticized the Federal Reserve, claiming there are absurdly many employees under Powell. ④ The NASDAQ 100 Index is rebalanced, with the weight of Tesla, Meta, and Broadcom decreasing. ⑤ HKEX will have a half-day Trade session on Christmas Eve.
Daiwa's investment rating and Target Price for Network Technology (table).
Daiwa has released a research report, listing the investment ratings and target prices for Network Technology stocks as follows: Stock | Investment Rating | Target Price (HKD) Alibaba-W (09988.HK) | Buy | 140 HKD Baidu-SW (09888.HK) | Buy | 115 HKD Bilibili-W (09626.HK) | Buy | 225 HKD Full Truck Alliance (YMM.US) | Buy | 12 USD JD.com-SW (09618.HK) | Buy | 200 HKD KE Holdings-W (02423.HK) | Buy | 76 HKD
The Dow barely ended its longest continuous decline in 50 years, Micron fell by 16%, the US dollar reached a two-year high again, and US bonds, oil, and Bitcoin all dropped.
U.S. stock market's other Indexes turned down towards the end, Tesla rose by nearly 4% before closing down, NVIDIA reached a high of 4%, and Micron Technology had its steepest decline in five years. The yield on the 10-year U.S. Treasury bonds briefly increased by nearly 10 basis points approaching 4.60%, close to a seven-month high, while short-term bond yields fell, with the 2/10-year yield spread at its widest in two and a half years. The Bank of England held rates steady, but more officials supported a rate cut, leading to a decline in the British Pound. The Governor of the Bank of Japan suppressed interest rate hike expectations, causing the yen to fall towards 158, and the offshore renminbi briefly dropped below 7.32 yuan to its lowest in 15 months. Bitcoin fell by 5%, approaching $0.096 million. Spot Gold rose by 1.6% before narrowing back below $2,600, while the futures silver fell by 5%, and U.S. crude oil fell below $70.
In the "Big Banks" report, China International Capital Corporation: The Education Industry shows positive signals, reiterating the "Buy" ratings for TAL Education (TAL.US) and New Oriental (EDU.US).
The Bank of China International released a report indicating that Shanghai's secondary school students' extracurricular mathematics school will start enrolling 10th and 11th-grade students again from January 2025, offering courses aimed at training for the Olympic Mathematics Competition. Shanghai's secondary school students' extracurricular mathematics school is dedicated to Olympic Mathematics training, supported by several official Institutions such as the Shanghai Education Bureau and the Shanghai Mathematics Society. The report states that after the implementation of the "double reduction" policy in 2021, the school closed all tutoring for every grade. This is the first time since the implementation of the double reduction policy that the school has reopened enrollment and tutoring services.
Before the Federal Reserve's decision, the rally of U.S. stocks faltered, the Nasdaq said goodbye to record highs, the Dow fell for nine consecutive days, Broadcom dropped over 4%, Chinese concept stocks rebounded against the trend, and Bitcoin reached a
The Dow Jones has seen its first nine consecutive declines since 1978; NVIDIA has seen four consecutive declines, while Tesla has risen over 3% against the trend, hitting new highs for three consecutive days. Chinese concept stocks rebounded nearly 2%, with PDD Holdings rising nearly 3% and Bilibili increasing over 4%. Salaries in the United Kingdom have grown faster than expected, with two-year UK bond yields rising 10 basis points in one day. The USD has rebounded; the Canadian dollar has hit a more than four-year low since the pandemic; Bitcoin surged over $0.108 million during trading, hitting a new historical high for two consecutive days. Crude Oil Product has fallen for two consecutive days, with US oil dropping more than 2% at one point; Gold has hit a new low for the week.
U.S. stock market closing | All three major indexes fell, with the Dow experiencing nine consecutive declines; Tesla rose over 3% to reach new highs, and Quantum Computing concept stocks surged again, with QUBT skyrocketing over 51%.
The Dow Jones has seen its first nine consecutive declines since 1978; NVIDIA has seen four consecutive declines, while Tesla has risen over 3% against the trend, hitting new highs for three consecutive days. Chinese concept stocks rebounded nearly 2%, with PDD Holdings rising nearly 3% and Bilibili increasing over 4%. Salaries in the United Kingdom have grown faster than expected, with two-year UK bond yields rising 10 basis points in one day. The USD has rebounded; the Canadian dollar has hit a more than four-year low since the pandemic; Bitcoin surged over $0.108 million during trading, hitting a new historical high for two consecutive days. Crude Oil Product has fallen for two consecutive days, with US oil dropping more than 2% at one point; Gold has hit a new low for the week.
U.S. stock market closing | The three major indexes had mixed results, with the Nasdaq increasing over 1% to reach a new high, while the Dow Jones fell for the eighth consecutive day; Broadcom surged over 11%, and Tesla rose over 6%, both reaching histori
The Dow Jones Industrial Average has recorded its longest losing streak since 2018; NVIDIA fell over 1%, marking its third consecutive decline; MicroStrategy, which was added to the Nasdaq 100 index, surged over 7% intraday before reversing to a loss, and Super Micro Computer, which was removed from the index, closed down over 8%. Chinese concept stocks fell over 2%.
Large banks' ratings丨China Merchants International: Looking ahead to next year, the Chinese Internet Plus-Related Industry will move forward against headwinds, focusing on mature Business moats, new development space, valuation enhancement potential, and
According to a report published by China Merchants International on December 16, they forecast that next year the Internet Plus-Related Industry in China will face headwinds, and the introduction of substantial consumer-promoting policies may still be a key driving factor for the structural enhancement of the sector's valuation. Before that, the sector may maintain turbulence, while shareholder return levels, profit growth rates, and certainty could be key supports for valuation. China Merchants International suggests focusing on three main lines: first, the moat of mature businesses and their new development space, which may drive a double increase in performance and valuation: for example, the gaming sector benefiting from the release of new games, local life with further online penetration space in core businesses, and advertising effectiveness improved under the empowerment of AI technology.
"The Big Business" CCB International: Looking ahead to the Chinese internet industry in the coming year amidst headwinds, focusing on the moats of mature businesses, new development space, valuation enhancement space, and overseas expansion.
Zhaoyin International released a report, forecasting that next year, China's Internet Industry will move forward despite headwinds, and the introduction of substantial consumption-promoting policies may still be a key driver for structural valuation enhancement in the Sector. However, prior to this, the Sector may maintain volatility, with shareholder return levels, profit growth, and certainty being critical supports for valuation. Zhaoyin International suggests focusing on three main lines: the first is the competitive moat of mature businesses and new development space, which may drive both performance and valuation increases: such as the gaming Sector benefiting from the release of new games, local life with further online penetration potential in core businesses, the enhancement of advertising effectiveness empowered by AI technology, and the new growth brought by GPU cloud business.
Shares of US-listed Chinese Stocks Are Trading Lower Due to Stimulus Concerns and Disappointing Economic Data. The Biden Administration Plans to Raise Tariffs on Solar Wafers, Polysilicon and Some Tungsten Products.
Quick look at the Hong Kong market | The Hong Kong stock market continues to decline in the afternoon, with all three major indices falling over 2%; The drops in the tech, Autos, and Mainland Real Estate sectors have widened, with SUNAC down over 8%, Xpen
Network Technology stocks fell, MEITUAN-W dropped 3.73%, NTES-S fell 2.90%; most Alcoholic Beverages stocks declined, GRACEWINE dropped 9.36%, TIBET WATER rose 7.69%; most semiconductor stocks declined, SHEEN TAI rose 5.82%, HG SEMI fell 5.00%;
Hong Kong stock movement | NEW ORIENTAL-S (09901) is currently down over 5%. Profit margins have fallen short of expectations for three consecutive quarters. HSBC states that the live-streaming e-commerce Business has hindered short-term growth prospects.
NEW ORIENTAL-S (09901) is down over 5%, as of the time of writing, it has dropped 5.12%, trading at 47.25 Hong Kong dollars, with a transaction volume of 0.207 billion Hong Kong dollars.
【Brokerage Focus】CMB International: The introduction of substantial new consumer policies may still be the key driving factor for the structural improvement of valuations in the Internet Plus-Related sector.
Jinwu Finance | Zhao Yin International released the 2025 outlook for the Internet Plus-Related Industry, stating that the introduction of substantial policies to promote Consumer growth may still be the key driving factor for structural valuation improvements in the Sector. Before that, the Sector may maintain volatility, with Shareholder return levels, profit growth rates, and certainty being key supports for valuation. The bank recommends focusing on three main lines: 1) The competitive moat of mature Business and new development space, which may drive both performance and valuation increases: such as the gaming Sector benefiting from the release of new games, local life with further online penetration space in core Business, improvements in advertising effectiveness empowered by AI technology, and new additions brought by GPU cloud services.
The Central Economic Work Conference was held in Peking, and **** delivered an important speech.
The Central Economic Work Conference was held in Peking, where **** delivered an important speech, Li Qiang gave a summary speech, and ****, ****, Cai Qi, ****, and Li Xi attended the meeting.
Express News | The Central Economic Work Conference states that a moderately loose MMF policy should be implemented, with timely reductions in reserve requirements and interest rates, to maintain ample liquidity.
Express News | Central Economic Work Conference: There will be a more proactive fiscal policy, increasing the fiscal deficit ratio.
Express News | Central Economic Work Conference: Implement a more proactive macro policy, expand domestic demand, promote the integration of technological innovation and industrial innovation development, and stabilize the property and stock markets.
HSBC Research has lowered the Target Price for New Oriental (09901.HK) to 72 yuan, citing low visibility in live e-commerce Business as a hindrance to short-term growth prospects.
HSBC Global Research released a report stating that, under the circumstances of a stable regulatory environment in Mainland China and resilient demand for Education services, the bank maintains an optimistic outlook on New Oriental's (09901.HK) Business prospects. The bank believes that, although competition faced by New Oriental has intensified compared to the same period last year, the risks are controllable, as the company, being a leading Institution nationwide, has a strong brand image; it possesses high-quality teaching levels in terms of teaching materials and teachers; and the market share this year is only about 2.4%, indicating ample room for improvement. However, the bank anticipates that the company's short-term growth prospects may be impacted by adjustments in the e-commerce live streaming Business.