1. The New York Stock Exchange said that all erroneous transactions caused by technical problems will be considered invalid
2. Hong Kong stock repurchases exceed HK$90 billion so far this year
3. Nvidia rose nearly 5% to a record closing high and plans to build a large design center in Taiwan
4. Trading platforms consider unplugging the network cable of the "leader" of American retail investors
5. Minmetals Resources: Will raise HK$9.08 billion through rights issue

The New York Stock Exchange said that all erroneous transactions caused by technical problems will be considered invalid

An email shows that the NYSE Group Stock Exchange and other UTP exchanges jointly decided to cancel all erroneous transactions related to CTA SIP quotation issues between 9:50 and 9:51 a.m. Eastern Time (9:50 and 9:51 p.m. Beijing Time) of Berkshire Hathaway (BRK.A.US) owned by Buffett, with a price lower than or equal to $603,718.30 per share. Previously, Berkshire Hathaway fell from $620,000 per share to $185.1 per share, a 99.97% plunge, and about 50 shares were traded.

In addition to Berkshire Hathaway, the NYSE also said it would clear erroneous trades with Bank of Montreal (BMO), Chipotle ( $CMG ), Barrick Gold (GOLD) and NuScale Power ( $SMR ).

Hong Kong stock repurchases exceed HK$90 billion so far this year

Since the beginning of this year, Hong Kong stocks have risen significantly, and the repurchase enthusiasm of listed companies has not diminished. As of June 3, 167 Hong Kong-listed companies have implemented repurchases this year, with a cumulative repurchase amount of HK$90.591 billion, a year-on-year increase of 175.12%. In the same period last year, a total of 99 Hong Kong-listed companies implemented repurchases, with a total amount of HK$32.928 billion.

Related targets: Tencent Holdings, Xiaomi Group-W, AIA Group, HSBC Holdings

U.S. ISM manufacturing contracted in May as orders fell and output weakened

The US ISM Manufacturing PMI in May was 48.7, a three-month low and below expectations. The previous value in April was 49.2. The data shows that the US manufacturing industry is struggling to find momentum and producers are dealing with rising input costs. The final value of the US Markit Manufacturing PMI in May was 51.3, and the initial value was 50.9, which is in contrast to the ISM Manufacturing PMI. However, the two PMI data are consistent in that price pressure is relatively high.

International crude oil futures settlement price fell by more than 3%

In the New York session, international oil prices fell significantly as the production cuts announced by OPEC+ failed to meet market expectations. WTI crude oil futures closed down $2.77, or 3.60%, at $74.22 per barrel. Brent crude oil futures closed down $2.75, or 3.39%, at $78.36 per barrel.

In terms of U.S. stocks, the three major U.S. stock indexes closed mixed, with the Dow Jones Industrial Average down 0.3%, the S&P 500 up 0.11%, and the Nasdaq up 0.56%. Nvidia rose nearly 5%, setting a new record closing high. Meta rose more than 2%, Amazon rose more than 1%, Google and Apple rose slightly; Netflix, Tesla, and Intel fell more than 1%, and Microsoft fell slightly.

WSB's popular concept stocks surged, with GameStop up more than 21% and AMC Cinemas up more than 11%. Previously, the well-known Internet celebrity "Roaring Kitten" posted the position data of investing in GameStop stocks and call options.

Nvidia rose nearly 5% to a record closing high and plans to build a large design center in Taiwan

Nvidia (NVDA.US) ended two consecutive declines and closed up 4.9% at $1,150, setting a record closing high with a total market value of $2.83 trillion. In the news, Nvidia co-founder and CEO Huang Renxun delivered a keynote speech at Computex 2024 (2024 Taipei International Computer Show), sharing how the era of artificial intelligence can promote the global new industrial revolution. In an interview, Huang Renxun also said that in the next five years, a large design center will be established in Taiwan, China, which will employ at least 1,000 engineers, and is also looking for a large site to build a headquarters here. The specific location is still under consideration and no decision has been made.

Trading platforms consider unplugging the network cable of the "leader" of American retail investors

At the close of U.S. stocks on Monday, GameStop's (GME.US) gains narrowed to 21%. U.S. stocks doubled before the market opened, and the maximum gain after the opening was 75%. According to media reports, Morgan Stanley's brokerage E-Trade is considering banning "retail leader" Keith Gill from using its platform for trading, and is conducting internal negotiations on this due to concerns about potential market manipulation. In addition, the U.S. Securities and Exchange Commission (SEC) is investigating certain call option transactions of the company, which occurred around the time Gill posted on social media platforms.

Related targets: AMC Cinemas, Gauss Electronics, BlackBerry, Faraday Future

Dell Technologies plunged 5.4% and its market value fell below $100 billion

Dell Technologies (DELL.US) plunged 5.4%, with its market value falling below $100 billion. In the news, the stock's latest quarterly results, although many core financial indicators exceeded expectations, lacked surprises due to declining profits and a backlog of AI server orders. Morgan Stanley analyst Erik Woodring and others believe that Dell's stock price had already surged 39% in May alone, setting a record high and outperforming the broader market. This sharp drop was also due to the profit-taking sentiment of some investors. But Erik believes that this pullback is closer to an opportunity to "reverse and pick up people", and Dell still has room to rise.

ASML and IMEC open joint lithography laboratory

On June 3, the Belgian Microelectronics Research Center (IMEC) and ASML announced that the High-NA EUV Lithography Lab, jointly operated by the two parties, opened in Veldhoven, the Netherlands. The lab can provide High NA EUV scanners (TWINSCANEXE: 5000) and peripheral processing tools. The statement said that the opening of the lab is a milestone in preparation for mass production of High NA EUV, which is expected to be achieved in 2025-2026.

Arm CEO: Capture 50% of Windows PC market share within five years

Rene Hass, CEO of British chip design company Arm Holdings, said his company aims to capture more than 50% of the Windows PC (personal computer) market within five years.

Google Cloud and Workday $WDAY expand partnership

Google Cloud announced on June 3 that it has expanded its partnership with Workday, a US cloud-based financial management and human capital management software provider. Through the cooperation, Workday will use the Gemini model and Vertex AI to implement artificial intelligence functions in Workday Extend to help customers optimize business performance and speed up transaction and settlement processes.

GCL Technology signs contract with Mubadala sovereign fund, and its first overseas polysilicon project may be launched

GCL Technology announced that it will explore potential cooperation opportunities with Mubadala Sovereign Fund to establish a comprehensive silicon ecosystem with global and regional importance in the UAE. Zhu Gongshan, Chairman of the Board of Directors of GCL Technology, said that the cooperation with Mubadala Sovereign Fund has added strong determination and firm confidence to GCL Technology's internationalization strategy. In the future, the company will build GCL's first overseas granular silicon project in the UAE, helping the UAE and Middle Eastern countries to promote the upgrading and transformation of the green energy industry based on high-tech silicon-based materials.

Minmetals Resources: Will raise HK$9.08 billion through rights issue

Minmetals Resources announced on the Hong Kong Stock Exchange that it will raise HK$9.08 billion through rights issue to repay existing debts. It is proposed that 2 rights shares will be issued for every 5 shares held on the record date, with a subscription price of HK$2.62 per rights share.

China Tobacco Hong Kong (06055.HK): It is expected that the revenue growth in the first half of the year will be no less than 10%, and the net profit growth will be no less than 30%.

Midea Real Estate (03990.HK): Cumulative contract sales in the first five months were 16.94 billion yuan, a year-on-year decrease of 52.2%.

Xpeng Motors (09868.HK): A total of 10,146 new cars were delivered in May, a year-on-year increase of 35% and a month-on-month increase of 8%; a total of 41,360 new cars were delivered in the first five months, a year-on-year increase of 26%.

GCL Technology (03800.HK): GCL Suzhou has entered into a cooperation agreement with MDCPOWER to develop the first polysilicon production facility in the UAE.

Jingrui Holdings (01862.HK): Cumulative contract sales in May were 786 million yuan, a year-on-year decrease of 61.79%.

Nissin Foods (01475.HK): Plans to acquire 100% equity of Gaemi Food for 48 billion won.

Huabao International (00336): Group members subscribed for RMB 566 million of financial products

PwC Heshun (01358.HK): Plans to use up to HK$150 million to repurchase shares in the market.

Tencent Holdings (00700.HK): Spent approximately HK$1.003 billion to repurchase 2.68 million shares, with a repurchase price of HK$372.2-HK$376.

HSBC Holdings (00005.HK): Spent approximately HK$234 million to repurchase 3.394 million shares, with a repurchase price of HK$68.55-69.10.

AIA Group (01299.HK): Spent HK$60.6193 million to repurchase 1 million shares, with a repurchase price of HK$59.8-61.15.

Xiaomi Group-W (01810.HK): Spent HK$50.0474 million to repurchase 2.8 million shares, with a repurchase price of HK$17.82-HK$17.94.

Hong Kong IPOs

Yimai Sunshine | IPO in progress

Yisou Technology | IPO in progress

QUANTUMPH-P | IPO in progress

US stock earnings

Pre-market: Tuniu

The above is today’s Washington Morning News. You are welcome to leave a message for discussion. I wish you a smooth investment!

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