Express News | The UK trade minister stated that they currently have no plans to impose high tariffs on Chinese electric autos.
Trump reiterated his welcoming of Chinese automakers to build factories in the US and pledged to end the electric car policy on his first day in office.
Former US President Trump reiterated his open attitude towards Chinese auto manufacturers producing cars in the United States, as a way to boost the US economy. This indicates that his approach may differ from the Biden administration's aim to keep cars related to China out of the US market.
Express News | National Development and Reform Commission meeting: Increasing the scrappage subsidy for autos and appliance products in exchange for old ones.
Beijing Offers Extra 20,000 EV Quotas in 1st Relaxation of Car Purchase Policy Since 2011
The 20,000 quotas are additional to the original 80,000 quotas and can only be used to purchase purely electric vehicles. For details, please visit CnEVPost.
Reportedly, Li Auto (02015.HK) will stop giving away charging stations starting from August for its L Series.
Li Auto Inc (02015.HK)'s sales staff at the Beijing store revealed that the L7, L8, and L9 series will stop giving away charging stations starting from August this year, while the L6 series has already stopped giving them away. The news pointed out that many car companies have never given away charging stations, and Li Auto has also adjusted its sales policy accordingly. It is reported that the charging station can be purchased separately for RMB 5,000. However, Li Auto CEO Li Xiang mentioned in June last year that the company insists on providing AC outlets and will always give away charging stations.
Mid-day Review: All three major indexes dropped by about 2%; Technology, internet companies, real estate, and golden industrial concepts fell, while Pop Mart rose nearly 11% against the trend.
As of press time, the Hang Seng Index fell by 1.84%, the National Index fell by 1.94%, and the Science and Technology Index fell by 1.53%. Network technology stocks fell collectively, with jd.com and Netease falling by more than 3%, Alibaba falling by nearly 3%, Kuaishou and Baidu falling by nearly 2%, and Xiaomi, bilibili, and Meituan falling by more than 1%.
Express News | Former U.S. President Trump said he would end the inflation crisis, reduce interest rates, lower energy costs, and bring back auto companies and jobs to the United States through taxes and tariffs.
US stocks closed with the Dow falling more than 1% ending a six-day consecutive rise, while the Russell 2000 fell nearly 2%; Taiwan Semiconductor narrowly rose, and Nvidia rose nearly 3%.
Nasdaq and S&P fell more than 1% in intraday trading, and the Dow fell 1.3%, halting its six-day winning streak without reaching a new high. Russell small-cap stocks, which had been overbought to their highest level since 2017, have fallen for two consecutive days.
Cui Dongshu: Purchasing enthusiasm is gradually released. In June, the retail penetration rate of electric vehicles reached 49%.
Cui Dongshu stated in an article that in the second quarter, the domestic retail penetration rate of electric vehicles increased by 13 percentage points year-on-year, reaching 49% in June.
US stock market closes with three major indexes down while waiting for Trump's "New Golden Age" speech.
1. The US stock "sector rotation" has stopped, with the Dow ending its previous "six consecutive gains"; 2. Former US President Trump will deliver a keynote speech at the Republican National Convention on Friday morning Beijing time; 3. Guo Mingchi: Apple may not have increased orders for the iPhone 16; 4. Broadcom is discussing developing new AI server chips with OpenAI.
Li Auto Inc - (02015.HK): Precise positioning for luxury family vehicles, with the potential for extended range and dual electric-wheel drive.
Specializing in luxury home positioning, the company's product matrix is gradually improving. Founded in 2015, the company's mission is to 'create a mobile and happy home.' Since 2018, it has successively launched Ideal ONE, Ideal L9, Ideal L8, and Ideal L7.
Express News | European Commission President von der Leyen: The goal of stopping the sale of carbon dioxide emitting automobiles by 2035 in the European Union remains unchanged.
Express News | In June, the penetration rate of new energy autos in Shenzhen reached 77.4%, the highest monthly record in history.
Express News | Hong Kong-listed car stocks mostly opened lower, with NIO Inc dropping nearly 5%.
Futu Morning News | The 'Seven Giants' market cap evaporated $580 billion in a single day. Goldman Sachs: Summer adjustment launched! Not suitable for buying now; Mary Daly, the popular voting member of the Federal Reserve: the time for interest rate cuts
Fed Beige Book: the US economy has grown slightly and inflation has cooled; Bank of America: the breadth of US stock gains is improving, bullish signals! Biden: if there are health issues, will consider dropping out; US stocks are diverging, Dow hits new highs, Nasdaq suffers its worst drop since the end of 2022.
Hong Kong stock concept tracking | "vehicle-road cloud integration" policy is bullish with frequent releases, the trillion-dollar market is expected to usher in a booming period (with concept stocks).
CITIC Securities pointed out that as regulations for self-driving industry on both national and local levels gradually improve, each link in the industry chain is expected to accelerate technology research and development and product deployment, benefiting the intelligent automotive industry chain.
China Association of Automobile Manufacturers: Sales of passenger vehicles and new energy vehicles in the first two weeks of July increased by 6% compared to the same period last month.
According to the information released by the China Passenger Car Market Joint Conference, in the first two weeks of July, 0.578 million passenger vehicles were sold at retail, a 3% increase year-on-year, and a 6% increase from the same period last month. The cumulative retail sales since this year were 10.417 million vehicles, an increase of 3% year-on-year.
Shares of Chinese Stocks Are Trading Lower Amid Reports Suggesting the Biden Administration Is Considering Chip Sale Restrictions on China, Which Could Drive US-China Tensions.
Shares of Chinese Stocks Are Trading Lower Amid Reports Suggesting the Biden Administration Is Considering Chip Sale Restrictions on China, Which Could Drive US-China Tensions.
US stocks morning trading | Three major indexes diverge, Dow continues to hit new highs; most semiconductor stocks weaken, with Asml Holding falling more than 11% after its performance report.
The special pressure on the semiconductor sector in technology stocks is due to the trade policy risks of the US government. According to reports, the US government is considering implementing stricter trade control measures to prevent some technology companies from providing technology to certain countries.
WiseStock Hong Kong Stock Analysis | Market sentiment is good due to Trump's words and actions, with expectations for acquisitions of innovative drugs.
Capital markets are no exception, quickly switching to Trump's victory mode. His every word and move affects the market's emotions.