Today's Picks
Biden signs $95 billion aid bill for Ukraine, Israel
Japanese official: Yen's fall to 160 may prompt authorities to act
Ukrainian drone hits two Russian oil storage tanks
Israel prepares to launch Rafah operation immediately, plans submitted to the United States
Blinken arrives in Shanghai
The Ministry of Commerce responded to the EU's surprise inspection of Chinese companies' offices in Europe
The first trial of the case of former chairman of Bank of China accepting bribes and illegally granting loans begins
The gap between Tencent and NetEase game revenues has increased instead of decreased
Market Review
On Wednesday, the US dollar index strengthened in the Asian session and then remained volatile, eventually closing up 0.12% at 105.82. The 10-year US Treasury yield finally closed at 4.646%. The 2-year US Treasury yield, which is most sensitive to the Fed's policy rate, finally closed at 4.941%.
The USD/JPY pair maintained its upward trend and eventually closed up 0.33% at 155.33, reaching 155 for the first time since June 1990.
As traders awaited key inflation data, spot gold remained volatile, hitting a high of $2,337 before eventually closing down 0.25% at $2,315.70 an ounce; spot silver eventually closed down 0.49% at $27.15 an ounce.
WTI crude oil maintained its downward trend as market concerns over the conflict in the Middle East eased and U.S. business activities slowed down, but the unexpected decline in U.S. crude oil inventories provided some support for oil prices. WTI crude oil finally closed down 0.69% at $82.75 per barrel; Brent crude oil closed down 0.38% at $88.05 per barrel.
The Dow Jones Industrial Average closed down 0.1%, the S&P 500 rose slightly, and the Nasdaq rose 0.1%. Nvidia (NVDA.O) fell 3%, and Tesla (TSLA.O) closed up 12% after its earnings, with its market value returning to above $500 billion. The Nasdaq China Golden Dragon Index closed up 1%, Bilibili (BILI.O) rose nearly 11%, NIO (NIO.N) and Alibaba (BABA.N) rose about 3%, and Li Auto (LI.O) fell nearly 4%.
Major European stock indices closed lower across the board, with Germany's DAX index closing down 0.27%, Britain's FTSE 100 index closing down 0.06% and Europe's STOXX 50 index closing down 0.37%.
The three major A-share indexes fluctuated upward. The Shanghai Composite Index rose 0.76%, the Shenzhen Component Index rose 0.74%, and the ChiNext Index rose 0.70%. In terms of sectors, the low-altitude economy concept rose sharply throughout the day, and more than 10 stocks such as Century Dingli and Shangluo Electronics hit the daily limit; the communication service sector rose sharply throughout the day, Wutong Holdings and Aofei Data hit the daily limit of 20%; consumer electronics concepts rose, and Chaoclocking Three and other stocks hit the daily limit; military informationization concepts continued to strengthen, and Tianwei Electronics and other stocks hit the daily limit; rare earth permanent magnets, Internet e-commerce and other concepts rose at the top; hotels and catering, banks, coal, salt lake lithium extraction, diet pills and other sectors fell at the top. More than 4,000 stocks in the two markets rose, and the transaction amount exceeded 790 billion yuan.
Hong Kong stocks continued to perform strongly. The Hang Seng Index opened higher and rose above the 17,000 mark yesterday morning. It maintained high volatility in the afternoon and once rose by nearly 400 points, setting a new high for the year. The increase narrowed slightly in the late trading. As of the close, the Hang Seng Index closed up 2.21% at 17,201.27 points; the Hang Seng Technology Index closed up 3.61% at 3,573.59 points. The Hang Seng Index market turnover was HK$129.584 billion. On the market, technology stocks collectively performed strongly, insurance stocks, bank stocks and other financial sectors strengthened, and the lithium battery sector was under pressure. In terms of individual stocks, SenseTime (00020.HK) surged 31.15% in the morning before being temporarily suspended, Bilibili (09626.HK) rose 8.80%, China Life (02628.HK) rose 5.57%, Tianqi Lithium (09696.HK) plummeted 19.15% and expected a large loss in the first quarter; Mobvoi (02438.HK) broke the issue price on the first day of listing and closed down 3.16%.
International News
1. U.S. EIA crude oil inventories decreased by 6.368 million barrels in the week ending April 19, the largest drop since the week ending January 19, 2024. U.S. EIA strategic petroleum reserve inventories increased by 793,000 barrels in the week ending April 19, the largest increase since the week ending January 26, 2024, and the 19th consecutive week of increase.
2. The yen fell below 155 against the dollar. Ochi, a senior official of Japan's ruling party, said that a drop to 160 yen could prompt the authorities to take action.
3. Biden signed a $95 billion bill that includes aid to Ukraine and Israel, and a "sell or ban" bill for TikTok; TikTok said it would challenge the bill in court.
4. Ukrainian drones hit two oil reserves in Russia's Smolensk region.
5. Israel is ready to launch the Rafah operation immediately. The plan has been submitted to the United States, and the United States said it is still in dialogue on this matter.
6. Israel claimed that it had attacked 40 Hezbollah strongholds in southern Lebanon; the Israeli Defense Minister said that half of Hezbollah’s commanders in southern Lebanon were killed in the attack.
7. The CFTC is considering a complete ban on derivative betting on the US election.
8. Spanish Prime Minister Sanchez is considering resigning and the Spanish government holds an emergency meeting.
9. The Indonesian central bank unexpectedly raised interest rates by 25 basis points to 6.25%, while the market expected it to remain unchanged.
10. Meta plunged 18% after the market closed, with its potential market value reduced by more than $220 billion. Its revenue guidance disappointed Wall Street.
Domestic News
1. On the afternoon of April 24, Blinken arrived in Shanghai, starting his second visit to China during his tenure.
2. The EU conducted surprise inspections on Chinese companies’ offices in Europe. The Ministry of Commerce said: China expresses serious concern and strong opposition to this.
3. The EU announced that it is studying an investigation into China's medical device market access and government procurement. The Ministry of Foreign Affairs responded: The EU has always claimed to be the most open market in the world, but what the outside world sees is that the EU is moving step by step towards protectionism. We urge the EU to abide by its commitment to market opening and the principle of fair competition, abide by WTO rules, and stop suppressing and restricting Chinese companies under various excuses.
4. It was reported online that purchase restrictions in some areas of Shenzhen will be cancelled after May 1st. Relevant departments in Shenzhen responded that they have not received any relevant notice yet.
5. The first trial of the case of Liu Lianget, former chairman of the Bank of China, for taking bribes and illegally issuing loans opened: he was accused of taking bribes of more than 121 million yuan.
6. Harvest, Hua Xia, Bosera Bitcoin ETF and Ethereum ETF were approved in Hong Kong.
7. Vanke plans to transfer 10 assets in Shenzhen worth more than 8.7 billion yuan? Vanke: We are actively promoting asset transactions, but the rumor is untrue.
8. The revenue gap between Tencent and NetEase Games has increased instead of decreased. Data shows that the difference between the two is 104.1 billion yuan, an increase of 2.37 billion yuan from 101.73 billion yuan in 2022. Since 2020, the revenue gap between Tencent Games and NetEase Games has exceeded 100 billion yuan for four consecutive years.
9. SenseTime: Launches large-scale model RiRiXin 5.0, and Class B shares will resume trading from tomorrow.
Risk Warning
☆At 20:30, the number of initial jobless claims in the United States for the week ending April 20 was announced. The market expected an increase of 215,000, compared with 212,000 in the previous week.
☆At the same time, the initial value of the annualized quarterly rate of real GDP in the first quarter of the United States was released, with market expectations of 2.4% and the previous value of 3.4%;
☆At the same time, the initial value of the annualized quarterly rate of the US core PCE price index in the first quarter was announced, with market expectations of 3.4% and the previous value of 2%.
The article is forwarded from: Jinshi Data