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Midday Recap | Hong Kong stocks continue to surge! The Hang Seng Index is up more than 2%; network technology and automotive stocks are performing well, with xpeng rising by about 10% and alibaba reaching a new high in over a year.
Most network technology stocks rose, with SenseTime leading the gains with a more than 6% increase, Bilibili up nearly 4%, Alibaba up more than 3%, Meituan up nearly 3%, Netease and JD.com up more than 1%, and Tencent up nearly 1%.
China's NIO Says 40% Of Its Store Managers Are Ex-Tesla
"Golden September" car market heats up again: retail sales increase double digits year-on-year and month-on-month on the second Sunday, with the China Association of Automobile Manufacturers giving the highest level of optimism.
① From September 1st to 15th, the retail sales of passenger vehicles were 0.828 million units, an increase of 18% compared to the same period last year, and a 12% increase from the previous month. ② Due to strong demand for Tesla Model 3, its delivery time has been extended from 3-5 weeks to 4-6 weeks. ③ The effectiveness of the trade-in policy is evident, as the Ministry of Commerce's Automobile Trade-In Information Service Platform has received over 1.04 million subsidy applications, driving new car sales to approximately 130 billion yuan.
The European Union car market is clouded: new car sales in August hit a three-year low, with EV sales down 43% year-on-year.
1. The new car sales volume in the European Union in August fell by a staggering 18.3% year-on-year, dropping to the lowest level in three years; 2. The European Automobile Manufacturers' Association stated that the sales of full electric vehicles in the European Union in August decreased by 43.9% year-on-year, marking the fourth consecutive month of decline.
The Fed has started an interest rate cut cycle, with funds flowing into Chinese assets! Which Hong Kong stocks have taken the lead?
With the stimulus of the upcoming interest rate cut by the Federal Reserve, Chinese assets have shown signs of a breakout in recent times. The Hang Seng Tech Index has risen for five consecutive trading days, and several high-performing stocks have also started the market trend this month.
The U.S. stock market hit a new high again, with Chinese concept stocks and cryptos surging! Waiting quietly for the "crucial moment".
After the overnight Dow Jones Industrial Average and S&P 500 index hit new highs in intraday trading, the Japanese stocks also opened strongly.