1. Han Wenxiu, deputy director of the Central Finance Office: cautiously introduce contractionary and suppressive measures
2. PSL restarts after nearly a year, attracting market attention
3. JP Morgan Asset Management: The Fed may cut interest rates more than current market expectations
4. Apple's market value evaporated by US$107.1 billion overnight due to investment bankers' pessimism
5. Mixue Bingcheng moves to Hong Kong for listing

1. Han Wenxiu, deputy director of the Central Finance Office: cautiously introduce contractionary and inhibitory measures

Han Wenxiu said that seeking progress while maintaining stability means adhering to the basic methodology of doing economic work well. It is necessary to introduce more policies that are conducive to stabilizing expectations, stabilizing growth, and stabilizing employment, and cautiously introduce contractionary and suppressive measures.

2. JPMorgan Asset Management: The Fed may cut interest rates more than current market expectations

Iain Stealey, chief investment officer of international fixed income at J.P. Morgan Asset Management, told Bloomberg that judging from past interest rate cut cycles, the market’s current expectations for the Federal Reserve to cut interest rates by 150 basis points this year are “actually not a lot.” Stealey said that the Fed has made clear its attitude that it hopes to relax policy, believing that the current policy is in a restrictive area and that inflation is falling. "I wouldn't be surprised if the 10-year Treasury yield fell toward 3.5% in the first half and even lower in the second half," Stealey said. "It depends on the data, it depends on inflation continuing to evolve as the central bank expects, and it could be even lower if the job market shows signs of weakness."

3. PSL restarted after nearly a year, attracting market attention

In December 2023, the three major policy banks, China Development Bank, Export-Import Bank of China, and Agricultural Development Bank of China, issued a net new mortgage supplementary loan (PSL) of 350 billion yuan, the third highest in PSL history. Analysts believe that PSL may be used to support the construction of "three major projects", namely the planning and construction of affordable housing, urban village renovation and the construction of "both leisure and emergency" public infrastructure. Subsequent PSL may continue to be released.

4. The U.S. Treasury Department took action again and many electric vehicles from Tesla and Nissan no longer enjoy U.S. tax credits.

Many electric vehicles have lost eligibility for the tax credit of up to $7,500 after the Inflation Reduction Act's new battery purchase rules took effect.

5. The United States becomes the world’s largest LNG exporter for the first time

The United States became the world's largest exporter of LNG for the first time, with shipments in 2023 surpassing major suppliers Australia and Qatar. The United States exported 91.2 million tons of LNG in 2023, setting a domestic export record. The increase in exports is due to the restart last year of the Freeport LNG plant in Texas, which was closed for several months after a fire and explosion in June 2022. Qatar's exports shrank for the first time since at least 2016, falling to third place globally.

6. The total U.S. national debt reaches $34 trillion for the first time

A report released by the U.S. Treasury Department on January 2, local time, showed that the total U.S. national debt reached $34 trillion for the first time.

7. Shipping giant Maersk: Continue to suspend all cargo transportation through the Red Sea

Shipping giant Maersk said it will continue to suspend all cargo shipments through the Red Sea while we further assess the evolving situation. Vessels will change course and continue sailing around the Cape of Good Hope when it makes the most sense for our customers.

Related targets: ExxonMobil, Chevron, Occidental Petroleum, CNOOC, PetroChina, Sinopec

8. SEMI released the "World Wafer Forecast Report" stating that global semiconductor monthly wafer (WPM) production capacity will increase by 5.5% to 29.6 million pieces in 2023, and is expected to increase by 6.4% in 2024, exceeding 30 million pieces per month for the first time. close.

9. The final value of the Markit manufacturing PMI in the United States in December 2023 was 47.9, which was expected to be 48.4 and the previous value was 48.2. U.S. construction spending in November 2023 rose by 0.4% month-on-month, and was expected to rise by 0.5%. The previous value was revised from a rise of 0.6% to a rise of 1.2%.

The three major U.S. stock indexes closed with mixed gains on Tuesday. The Dow rose 0.07% to 37715.04 points, setting a new high . The S&P 500 fell 0.57% to 4742.83 points. The Nasdaq fell 1.63% to 14765.94 points, the largest single day since the end of October last year. Decline . In terms of technology stocks, Apple fell 3.58% and Tesla fell 0.01%. Chinese concept stocks generally fell, with Nasdaq China Golden Dragon Index falling 3.5%, Huanju falling 14.66%, and Gaotu Group falling 9.67%; Chinese concept new energy automobile stocks fell across the board, NIO fell 7.28%, and Xpeng Motors fell 3.84 %, Li Auto fell 7.59%.

Apple's market value evaporated by US$107.1 billion overnight due to investment bankers' pessimism

Apple's stock price had a "bad start" in 2024. It fell by about 4.5% in midday trading on Tuesday, January 2. The decline narrowed to less than 4% in late trading, closing down by about 3.6%. Its market value evaporated by US$107.1 billion (approximately 766 billion yuan) overnight. ), still the largest single-day decline since August 4, 2023, and a new closing low since November 9, 2023. On the news, Apple was bearish by Barclays analysts and was downgraded from "hold and wait" to "underweight." Barclays lowered Apple's rating to underweight for the first time in 2019. The lowered target price means it is expected to fall 17% in the next year. In addition to iPhone performance continuing to be weak, Barclays also expects Apple's service business growth to accelerate and slow down, regulatory risks to increase, and ecosystem returns to diminish. It warns that stock valuations are high, and performance continues to be weak even as valuation multiples expand, and stock prices cannot rise. continued.

ASML fell more than 5%, and the export license of two photolithography machines was revoked, affecting the shipment of equipment to individual Chinese customers.

In response to the fact that the United States has asked ASML to stop exporting certain types of lithography machines to China, China's Ministry of Foreign Affairs stated that China has always opposed the United States' generalization of the concept of national security and the use of various excuses to coerce other countries to impose a technological blockade on China.

Tesla's fourth-quarter production and sales were slightly higher than expected, but there were no bigger surprises. BYD officially topped the global electric car rankings

Tesla's fourth-quarter production and sales were slightly higher than expected, producing about 495,000 vehicles and delivering more than 484,000 vehicles. Tesla's car deliveries in 2023 increased by 38% year-on-year to 1.81 million vehicles, exceeding its previous target of 1.8 million vehicles, and production increased by 35% year-on-year to 1.85 million vehicles. Although Tesla's production and sales data exceeded expectations, its global electric vehicle sales lagged behind BYD. BYD sold 526,409 pure electric vehicles in the fourth quarter, more than 40,000 more than Tesla.

Waiting for SEC approval, Bitcoin concept stocks experienced huge intraday shock

Due to the news two days ago that "the U.S. SEC may issue the first batch of Bitcoin spot ETF approval documents on Tuesday or Wednesday," Bitcoin itself continued to rise to around $45,000 on Tuesday, hitting a new high in the past two years. However, the trends of Bitcoin concept stocks are quite different. MicroStrategy, which holds a large number of Bitcoins, closed up more than 8% on Tuesday. Coinbase, which is planning to provide spot Bitcoin custody services, fell 9.8%, while small-market concept stocks such as Marathon Digital fell by 9.8%. After opening with an increase of more than 10%, it ended up falling by more than 2%.

Moderna rises more than 13%, will launch flu/Covid combination vaccine as early as 2025

Moderna closed up 13.12% at $112.5. Moderna's CEO said in a shareholder letter that with the launch of a respiratory syncytial virus (RSV) vaccine candidate, a flu/Covid combination vaccine will be launched as early as 2025, and he believes that the company will achieve sales growth in 2025.

AstraZeneca and Sanofi jointly announced that the long-acting monoclonal antibody Nirsevimab has been officially approved by the China Food and Drug Administration for the prevention of respiratory syncytial virus in neonates and infants. lower respiratory tract infection.

Vietnamese electric vehicle manufacturer VinFast announced that it has signed agreements with five dealers in North Carolina, New York, Texas and Kansas in the United States. The dealer network across the United States is expected to expand to 125 sales points.

Alibaba: A total of 897.9 million shares will be repurchased in 2023 at a cost of US$9.5 billion

Alibaba-SW announced that during the 12-month period ending on December 31, 2023, the company repurchased a total of 897.9 million ordinary shares (equivalent to 112.2 million American depositary shares) for a total price of US$9.5 billion, of which Includes the repurchase of a total of 292.7 million ordinary shares (equivalent to 36.6 million American depositary shares) for US$2.9 billion in the quarter ended December 31, 2023. These repurchases were made in the U.S. market and Hong Kong market under the company's share repurchase program.

At the same time, Alibaba sold 838,400 shares of Kuaigou Taxi at an average price of HK$0.5045 per share on December 22, 2023, cashing out approximately HK$423,000, and its shareholding ratio dropped to 8.89%.

Xiaomi Motors has opened dealer recruitment plans in 17 cities

It is reported that Xiaomi’s car sales model will adopt a direct sales + distribution approach. At the same time, Xiaomi refuted the rumor "Supply Chain List" and said that it recently paid attention to a picture about Xiaomi's automobile industry chain. After verification, at least 50% of the content was completely wrong.

Mixue Bingcheng went public in Hong Kong, selling a cup for 6 yuan, with retail sales of 37 billion yuan in the nine months of 2023 and a net profit of 2.5 billion yuan.

As of the end of September 2023, Mixue Bingcheng has more than 36,000 stores, covering 11 countries in China and overseas. From January to September, approximately 5.8 billion cups were sold in stores. In nine months, terminal retail sales exceeded approximately 30 billion yuan in 2022. Revenue increased by 46% year-on-year to 15.4 billion yuan, and net profit increased by 51%.

Xpeng Motors expects to mass-produce flying cars in the fourth quarter of 2024.

WuXi Junuo-B (02126) and 2SEVENTY BIO, INC. have reached strategic cooperation

China Software International (00354): Chinasoft International and Hongmeng Ecological Services Company signed a cooperation agreement to jointly build a prosperous Hongmeng ecological world.

Junshi Biologics (01877): The marketing application for a new indication of toripalimab for the perioperative treatment of patients with resectable non-small cell lung cancer was approved

Hong Kong new shares

Meizhong Jiahe | Subscription is in progress

Zhongshen Construction | Subscription under way

Long-term shares | Subscription is in progress

Jingwei Tiandi | Subscription in progress

Tianjin C&D | Subscription in progress

US stock earnings report

First United | Pre-market

The above is today’s Washington Morning Post. Welcome to leave a message for discussion. I wish you good luck with your investment!

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