China Fund News Taylor
Hello everyone, continue to pay attention to the situation in the overseas market tonight.
Since Monday's plunge, global markets have gradually returned to normal.
After the U.S. stock market opened tonight, the three major indexes rose together, with the Dow Jones rising more than 400 points, and the Nasdaq and S&P 500 both rising more than 1%.
Global markets rebounded, with major European stock markets all rising more than 2%.
Wall Street's fear index, the CBOE Volatility Index (VIX), has fallen sharply.
The reason for the global market rebound is Japan, the Bank of Japan promised on the 7th that it would not raise interest rates when the market is unstable, retracting the previous remarks that caused turmoil in the global stock market, and then the yen exchange rate depreciated sharply, falling more than 2%.
Shipping giant Maersk is considered a barometer of global trade, with CEO Vincent · Klerk saying on Wednesday that the company is not seeing signs of a United States recession as freight demand remains strong.
Vincent · Klerk said that "in fact, over the past few years, despite all the recession fears, the container shipping market has shown surprising resilience".
United States inventories have increased from the beginning of the year, but they have not yet reached worrying levels and show no signs of an imminent sharp slowdown, Klerk said.
"We also look at purchase orders from many retailers and consumer brands that need to import goods to meet demand in the coming months, and the situation remains quite strong," Mr Klerk said.
In addition, the stock price of ultra-micro computer, known as the "AI demon stock", plummeted by more than 15% tonight. On the news side, Supermicro Computer's revenue and profit for the fourth quarter of fiscal 2024 fell short of analysts' expectations. Analysts say investors are concerned about the long-term profitability of AI-optimized servers sold by companies such as Supermicro, Dell Technologies and Hewlett-Packard Enterprise. Supermicro's failure to meet its earnings targets in the latest quarter could exacerbate that concern, he said.
Airbnb's shares plunged 15% at one point, its biggest intraday drop since the company's 2020 listing, after warning of signs of slowing demand in United States and shorter global booking delivery times. The San Francisco-based short-term rental company said: "We're seeing shorter booking lead times globally and some signs of slowing demand from United States guests." ”
In addition, Airbnb's fiscal third-quarter outlook fell well short of Wall Street expectations. Airbnb CEO Brian Chesky responded to his company's disappointing outlook and the ensuing plunge in its share price: "I believe now is a good time to buy. ”
In terms of international oil prices, they both rose by about 3%.