No Data
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%.
Preview of US stocks | August retail sales data exceeds expectations, three major futures indices slightly rise; Bullish news frequently! Intel pre-market up nearly 7%.
Microsoft is giving out "red envelopes": dividend increase of 10%, planning to repurchase up to 60 billion US dollars; "New Fed Communication Agency" reiterated uncertainty: the magnitude of the first interest rate cut is still suspenseful.
In "The Big Bank", BOC International recommends investing in automobile stocks such as Xiaomi, Geely, and NIO Inc, and remains bullish on the long-term growth prospects of Li Auto Inc.
Bank of China International's research report pointed out that the overall stock prices of Hong Kong's automobile industry have still lagged behind various fundamental indicators since the beginning of the year, attributing the difference mainly to the market's pessimistic sentiment towards the macro market and the automobile industry. The bank indicated that entering the fourth quarter of this year, which is also the traditional peak season for automobiles, the overall industry valuation is expected to rebound significantly under the drive of strong product cycles and historically low valuations of contract manufacturers. The bank is bullish on Xiaomi (01810.HK), Geely (00175.HK), and Nio Inc (09866.HK), as for XPeng (02015.HK), despite the lack of short-term catalysts, it is still optimistic about its prospects.
Cui Dongshu, Secretary General of the China Passenger Car Association: The 'Autos to the Countryside' policy needs to be strengthened rather than suppressed.
In 2024, China's auto market retail achieved the expected strong start, followed by a sharp divergence between electric vehicles and gasoline vehicles. From January to August 2024, the retail sales of electric vehicles reached 6.01 million units, showing a relatively strong trend with a 35% increase, close to the 36% growth rate in 2023.
Express News | China concept stocks have mixed performances, with nio inc falling more than 2%.
Express News | Hang Seng Index rose by 0.31%, while Hang Seng Tech Index increased by 0.51%. Kuaishou surged by over 4%, Nio Inc rose by nearly 4%, and Xpeng rose by almost 3%. The Fed's expectation of a significant interest rate cut pushed the gold price to hit a new h