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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%.
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.
The USA has raised the tariff on electric cars to 100%, and the industry assesses that the impact is limited.
Recently, the US government has decided to significantly increase import tariffs on Chinese products, with the tariff for electric cars increasing by 100%.
Legacy Automakers Scramble to Counter 'Existential Threat' From Nimble Chinese EV Makers
Express News | The China Banking and Insurance Regulatory Commission encourages appropriately lowering the down payment ratio for automobile loans and reasonably determining the loan term for automobile loans.
Express News | Jike's Vice President Zhao Chunlin: Jike01 has no plans for CTB and three electric motors so far.
Breaking news! The US has confirmed an increase in tariffs on products from China, with electric cars being raised to 100%.
According to a report from Reference News citing US media, the US government on September 13th decided to significantly increase the import tariffs on Chinese products, including imposing a 100% tariff on electric cars, a 50% tariff on solar energy batteries, and a 50% increase in import tariffs on Chinese semiconductors.
EU Plans to Vote on Sept 25 for Higher Tariffs on Chinese EVs, Report Says
Express News | The United States has decided to impose additional tariffs on Chinese products, with a 100% increase in tariffs for electric cars.
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.
Catalyst Watch: FOMC, FedEx Earnings, Electronic Arts Event, and Triple Witching Day
Express News | The EU Chamber of Commerce in China has issued a statement regarding the EU's refusal of all price commitments proposed by Chinese electric car manufacturers.
US stock new stock outlook | Aochuang Holdings: The industry's "price war" is in full swing, and the performance decline of electric vehicle 4S stores is hard to hide.
Under the 'price war' in the industry, Aochuang Holdings has fallen into a decline in revenue and an expanding loss in performance.
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.
Chinese EV Makers Face Another Headwind as Beijing Warns on Protecting Key Tech
Express News | The Minister of the Ministry of Commerce will visit Europe to negotiate with the European Union on the anti-subsidy case of electric vehicles in Europe.
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.
VREMT EXPOSERA SA TECHNOLOGIE INNOVANTE D'ÉNERGIES NOUVELLES À L'EXPO AUTOMECHANIKA CONSACRÉE AUX VE
Express News | The passenger vehicle market sold 0.388 million vehicles from September 1-8, a 10% year-on-year increase.
US stock volatility | Jike rose more than 4.5%. Jike 7X surpassed 20,000 orders in its first week.
9th September | Xpeng (ZK.US) rose more than 4.5%, reaching $16.6. In terms of news, Xpeng Autos recently released the order information for the Xpeng 7X, with the first week's orders exceeding 20,000 units. Currently, the Xpeng 7X has started presale, with prices starting at 0.2399 million and the top configuration not exceeding 0.3 million yuan, and the new car will be officially launched on 20th September. In addition, in August 2024, Xpeng delivered 18,015 vehicles, a 46% year-on-year increase and a 15% month-on-month increase; a total of 121,540 vehicles were delivered from January to August, an 81% year-on-year increase, and Xpeng's cumulative deliveries have exceeded 3.