US stocks closed | S&P and Dow set new intraday highs, Chinese concept stocks performed well, li auto inc rose more than 12%.
In the late trading session, the US stock market saw a significant decline, but the S&P 500 index rose for the seventh consecutive day, and the Nasdaq and semiconductor index erased gains of more than 1%, with Intel rising 8% and closing up 2.7%, while Nvidia declined 1%. The Chinese concept index rose nearly 2%, and Li Auto Inc. rose more than 12%.
Top Cyclical Stocks for an Expected GDP Boost
China's Mid-Autumn Holiday Offers Weaker Prospects for Online Travel Companies, Jefferies Says
Ctrip (09961.HK): Museum ticket orders during the Mid-Autumn Festival are 15% higher than during the Dragon Boat Festival.
Ctrip (09961.HK) announced a summary of this year's Mid-Autumn Festival holiday travel, indicating that short-haul trips are the main focus of this year's Mid-Autumn Festival holiday. In terms of local travel, the ticket orders for museums in various places have increased by 15% compared to the Dragon Boat Festival holiday. At the same time, the last day of the Mid-Autumn Festival holiday coincides with the first day of the National Day holiday when train tickets go on sale. From the perspective of Ctrip's train ticket reservations, the high-speed rail tickets for many popular destinations were in high demand on that day. (vc/u)~
Express News | Ctrip: The museum ticket order volume during the Mid-Autumn Festival holiday increased by 15% compared to the Dragon Boat Festival holiday.
"Da Hang" Goldman Sachs: The impact of crackdown on money changers on Macau's gambling revenue is limited. The booking rate for silver entertainment and MGM National Day golden week is over 90%.
Goldman Sachs released research reports indicating that although all Macau gambling companies recognize the macro challenges brought by slowing consumer demand and its impact on the sales performance of their mall tenants. However, they also pointed out that the demand for gambling in all market segments remains resilient, the scale of bets remains stable, and the number of gamblers continues to grow, although some high-stakes gamblers have become more cautious about spending. Although the management of Ctrip-S (09961.HK), a mainland travel booking website, previously stated that the popularity of Hong Kong and Macau among mainland tourists has declined. However, Galaxy Entertainment (00027.HK) and MGM China (02282.HK) have revealed that hotel room bookings were strong during the National Day Golden Week.
Guosen Securities: The overall operation of the travel chain is flat, embracing a high-quality leader with outstanding member traffic.
The overall performance of the travel chain company in the first half of the year was relatively flat, but the leading operation with the advantage of online platform traffic still clearly leads the large cap in the industry index, while also having the advantage of brand and membership traffic. Quality leading companies with efficient operation, mainly through franchise expansion, continue to show good alpha growth.
Is Trip.com Group Limited's (NASDAQ:TCOM) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
U.S. stocks closed | S&P 500 and Nasdaq both rose for the fifth consecutive week, with nvidia up nearly 16% for the week and broadcom up 22% for the week.
The rebound in US consumer confidence, the near four-year low in one-year inflation expectations, the support of the former "Fed's three hands" for a 50 basis point rate cut, and the significant increase in betting on substantial rate cuts by the "Fed's communication agency" and others, have returned to the "fifty-fifty" level. Small cap stocks rose by more than 2% on Friday, chip index rose by 10% over the week, NVIDIA rose by nearly 16% over the week, and Broadcom rose by 22% over the week. The two-year US Treasury yield returned to a two-year low, the yen rose above 141, the highest in nearly nine months, offshore renminbi rose above 7.10 yuan, and bitcoin rose to $0.06 million. Oil prices stopped the multi-week decline, and gold rose by over 3% for the best month in a month.
It is expected that the total number of domestic passenger flights during the National Day holiday will reach 0.115 million, an increase of 6.2% compared to the previous year.
According to data from third-party platforms cited by domestic media, the total number of domestic passenger transport during this year's National Day holiday is expected to reach 0.115 million flights, with a daily average annual growth rate of 6.2% and an 11.2% increase compared to 2019. The data also indicates that the average one-way airfare (including tax) within China during the Mid-Autumn Festival holiday this year is about 770 yuan, a price drop of about 25% compared to the three days before the Mid-Autumn Festival and National Day holidays last year. (js / w) ~
Hong Kong stock concept tracking | Mid-Autumn Festival holiday is approaching, the tourism market is again experiencing a small peak (with concept stocks)
The National Immigration Administration predicts that the average daily number of inbound and outbound tourists during the Mid-Autumn Festival holiday will increase by 21.9% compared to the same period last year.
US stocks closing | NASDAQ, S&P joined hands for four consecutive positives, US stocks' seven giants all rose, with Meta up nearly 3% and Nvidia up nearly 2%.
In August, the PPI in the United States showed a cooling down of inflation, and the market slightly raised its bets on the Fed's aggressive interest rate cuts. US stocks rose together, with Nvidia up nearly 2%, while NIO Inc and XPeng fell more than 5%. The European Central Bank cut interest rates for the second time this year, but maintained a restrictive policy. European bonds fell, and the euro rebounded from its four-week low. Commodities rose across the board, with US oil briefly rising by 3.7%, gold reaching a new high with a nearly 2% increase, palladium rising by over 4%, and copper experiencing its largest two-month increase.
DAHENG Jianguo International: Tencent (00700.HK) is believed to be the preferred choice in the industry, and is also bullish on Meituan (03690.HK) and Ctrip (09961.HK).
Industrial Bank International released a report stating that most of the covered Chinese Internet companies have reported better-than-expected second-quarter profits, although revenues only meet or fall below expectations. The only exception is Meituan (03690.HK), which has exceeded expectations in both revenue and profit. The bank observed that due to macroeconomic uncertainty and low consumer confidence, the revenue growth of most companies has slowed down. On the other hand, the continuous improvement of profit margin is driven by factors such as ongoing cost optimization and efficiency improvement, changes in revenue structure, and improved competitive landscape. Except for PDD Holdings (PDD.US), most companies also attach more importance to share buybacks and
US stock market closing: US stocks staged a "V-shaped" big reversal, with Nvidia soaring more than 8%; solar concept stocks and lithium stocks rose across the board, with first solar rising more than 15% and Albemarle rising more than 13%
The core CPI in the US in August exceeded expectations, and the market believes that the Federal Reserve will not make a significant interest rate cut next week. The US stock market fell at the beginning of trading, with the Dow Jones Industrial Average falling more than 740 points at one point. Huang Renxun emphasized the high demand for AI chips, and Nvidia, which had the largest increase in six weeks, led the US stock market to rebound in a V-shape, with the Nasdaq rising more than 2% and chip stocks rising nearly 5%. The US presidential debate boosted solar stocks, while Trump media fell more than 10% to the lowest level since its backdoor listing in March. Brent oil climbed back above $70, breaking away from a three-year low.
China's technology stocks have fallen to a new low in valuation. They will benefit if there is an improvement in macroeconomic and consumer prospects.
Liang Xiangyi, Managing Director of Asia Telecommunications and Internet Research at Citic Lyon Securities, stated that the performance of China's technology industry in the first half of the year was good, with mid-term profits increasing by 37% year-on-year. Many companies' second-quarter performance exceeded market expectations. However, the average valuation of the technology sector as of the end of August was only 10.6 times, reaching a historical low.
Express News | Ctrip: The "Golden Week" holiday travel bookings are booming, with airfare prices falling by over 20%.
US stock market anomaly | Ctrip fell 1.6% before the market opened. The average price of domestic flights during the Mid-Autumn Festival has dropped by more than 20% compared to the summer peak.
GLONGHUI September 9 | Ctrip (TCOM.US) US stocks fell 1.6% to $46.8 before the market. According to the news, the Mid-Autumn Festival holiday travel market is slightly lackluster. OTA platforms and travel agencies all claim that product prices are basically the same as in the off-season. According to air travel data, as of September 5, the average ticket price (excluding tax) for domestic routes during the Mid-Autumn Festival holiday was about 710 yuan, down more than 20% from the summer travel period.
Hong Kong stock concept tracks | Mid-Autumn travel service bookings significantly higher than Dragon Boat Festival. The prosperity of the travel sector continues to rise (with concept stocks).
As of now, the domestic hotel, domestic car rental, domestic ticket booking volume has all recorded double-digit growth compared to the same period in 2019; and compared to the Dragon Boat Festival holiday, the overall booking volume of the Mid-Autumn Festival holiday is also significantly larger.
Is the Mid-Autumn Festival tourism market not booming? The prices of airfare and hotels are the same as the off-season, and long-distance outbound tours during the National Day holiday are still popular.
From the perspective of OTA platforms and travel agencies, the prices of air tickets, hotels, and travel products during the Mid-Autumn Festival holiday this year are basically the same as usual. Long-haul outbound tours during the National Day holiday are still popular, with popular products from travel agencies such as Chunqiu Travel and utour group selling out.
US stocks closed with mixed performance for the three major indexes. Tesla rose more than 9% over the past two days, while NIO soared 14% after its performance announcement.
Before the non-farm data, there is new evidence of the cooling of the US job market, and economic concerns support a substantial rate cut bet. The yield curve of the 2-year/10-year US Treasury bonds, which briefly inverted for the third time in two years. The S&P 500 fell for the third consecutive day, with Broadcom falling more than 4% after hours, Tesla rising nearly 5%, and Nvidia and Chinese concept stocks rising nearly 1%. The yen reached a one-month high, and the offshore renminbi rose by 300 points to break 7.09 yuan. Gold rose briefly by 1%, and oil prices rose more than 2% before falling. US oil fell below $70 for the first time in 15 months over two days.