Super heavy weekend! China and the EU launched consultations on countervailing of electric vehicles, and the IPOs of the three major exchanges were accepted

Look at finance

2024-06-23 17:46Posted on the official account of Guangdong Kancai

This week, Harker, Barkin, Collins and other Fed officials concentrated on their statements, urging the market to be patient with interest rate cuts, stressing that more evidence of cooling inflation is needed before cutting rates. In addition, the weakening of the yen and the pound jointly pushed the dollar index to continue to strengthen, hitting a new high, which suppressed the global stock market to a certain extent.

From a fundamental point of view, the US economic data is mixed. U.S. retail sales rose 0.1% month-on-month in May, below consensus expectations of a 0.3% increase. U.S. retail sales were lackluster in May. However, the preliminary S&P Global Manufacturing PMI for June released on Friday was 51.7, better than the expected 51, and the preliminary service PMI was 55.1, better than the expected 53.7, and the U.S. economic growth rate in June reached the fastest level in more than two years.

Hopes for a recovery in Europe have been dampened, with the preliminary manufacturing PMI hitting a six-month low in June. France, Europe's second-largest economy, saw both manufacturing and service PMIs decline in June due to recent political turmoil and worsening fiscal deficits. Weaker-than-expected PMI data added pressure to the ECB's actions.

From the perspective of global stock market performance, due to the GB200 upward revision of expectations, the Taiwan Weighted Index rose by more than 3% this week, continuing to hit a new high; European stock markets performed poorly last week, and this week is an over-bearish rebound; The U.S. stock Nasdaq strengthened in the first three trading days, and the index rose and fell back in the last two trading days due to the increased volatility of the "Three Witch Days".

Specifically, A-shares, as the Lujiazui Forum was lower than market expectations, coupled with the panic selling of core assets such as liquor, heavyweight stocks continued to be under pressure, and the three major indexes weakened, with the Shanghai Composite Index falling by 1.14%, losing 3,000 points again, the Shenzhen Component Index fell by 2.03%, the ChiNext Index fell by 1.98%, and the Shanghai Composite Index rose by less than 1 point during the year.

In terms of industries, only the five major industries of electronics, communications, building decoration, petroleum and petrochemicals, and automobiles rose, while real estate, commercial trade, media, food and beverage, comprehensive, and social services led the decline.

Weekend hits

Last Friday, A-shares fell below 3,000 points, and the national team saved the market by buying ETFs such as CSI 300 and SSE 50 at noon, but at the end of the day, due to the stock index futures adjustment, some heavyweight stocks were smashed, and the Shanghai Index fell below 3,000 points.

The expected good news over the weekend did not materialize, and we can only count on the national team and the funds to buy the bottom next week

According to the Financial Associated Press, Commerce Minister Wang Wentao held video talks with the Executive Vice President of the European Commission and Trade Commissioner Dombrovskis. The two sides agreed to launch consultations on the EU's countervailing investigation of electric vehicles against China.

The National Development and Reform Commission pointed out that the so-called "overcapacity" argument of China's new energy industry is contrary to market rules and economic common sense, and the EU's tariffs on China's electric vehicles are inconsistent with the "green development banner" held high by the EU, and protectionism will only drag down the global response to climate change and the process of green and low-carbon transformation, and China will take all measures to safeguard the legitimate rights and interests of Chinese enterprises. At present, the global production capacity of new energy vehicles cannot meet the market demand, and China's new energy vehicles can make greater contributions to promoting the global green and low-carbon transformation.

The investment products with the highest credit rating and the safest suddenly exploded. A loan backed by a shopping centre in the UK is AAA-rated, and some investors rarely suffer losses. At the same time, some buyers of the $308 million AAA note, backed by a mortgage on a Broadway building in Midtown Manhattan, also suffered a 25 percent loss.

The Shanghai and Shenzhen stock exchanges both ushered in the first IPO acceptance this year. On the evening of June 20, the Shanghai and Shenzhen stock exchanges accepted the IPO of Xi'an Taijin New Energy Technology Co., Ltd. (hereinafter referred to as Taijin New Energy) and China Uranium Co., Ltd. (hereinafter referred to as China Uranium) on the Science and Technology Innovation Board and the main board of the Shenzhen Stock Exchange. The IPO acceptance of the three major exchanges in Shanghai, Shenzhen and North has all resumed.

Risk Warning:

The stock market is risky, investment needs to be cautious, this article does not constitute investment advice, readers need to think independently

View original image 74K

• 

• 

• 

• 

• 

•