Zhitong Hong Kong stocks already know | There are leading brokerage companies working overtime on the National Day to investigate tourism stocks

【Today's headlines】

[Powell said the Fed will not rush to cut interest rates quickly]

United States Federal Reserve Chairman Jerome Powell said on September 30 that the Fed will continue to cut interest rates at future monetary policy meetings, but will not rush to cut rates quickly. Powell said at the annual meeting of the National Association of Business Economics of United States on the same day that if the economic trend is broadly in line with expectations, monetary policy will gradually shift to a more neutral stance. He stressed that the Federal Open Market Committee, which sets monetary policy, is in no hurry to cut interest rates quickly. Powell said the Fed does not have any preset course on the direction of monetary policy and will continue to let data guide future policy actions, striking a balance between curbing inflation and supporting the labor market. If the United States economy slows more than expected, then the Fed will cut interest rates faster; If the economic slowdown is better than expected, the pace of interest rate cuts can also be slowed.

Powell said on Monday that the rate cut process would be further "recalibrated" based on upcoming economic data. "By appropriately adjusting our policy stance, the labor market can remain resilient in an environment of moderate economic growth and continued downward movement of inflation towards target," he said. "Overall, the economy is in good shape; We intend to use our tools to maintain this situation. Powell said he expects two more 25 basis point rate cuts this year if the economy continues on its current trajectory, while markets have been betting on a more aggressive rate cut cycle.

BlackRock CEO Larry Fink said that given the continued growth of the United States economy, the market has priced in too many Fed rate cuts. "I didn't see any landings," Mr. Fink said in an interview on Tuesday. "The degree of easing on the forward curve is insane. I do believe there is room for further easing, but not as much as the forward curve suggests. "Money market moves suggest a one-in-three chance of another 50 basis point rate cut by the Fed in November, and expect a total of about 190 basis points of rate cuts by the end of next year. Fink said it would be difficult for him to see that happening because most current government policies are more inflationary than deflationary.

【Outlook】

As of the close of the day, the Dow Jones Industrial Average fell 173.18 points from the previous trading day to close at 42156.97 points, a decrease of 0.41%; The S&P 500 stock index fell 53.73 points, or 0.93%, to close at 5708.75; The Nasdaq Composite Index fell 278.81 points, or 1.53%, to close at 17,910.36. Large technology stocks generally fell, with Nvidia falling more than 3%, Apple and Microsoft falling more than 2%, and Amazon falling slightly. Chips, semiconductors, consumer electronics fell first, precious metals, oil and gas sectors rose, United States energy rose more than 13%, and Harmony gold and gold fields rose more than 6%. Popular Chinese concept stocks rose sharply, with the Nasdaq China Golden Dragon Index closing up 5.48%, Shell up more than 17%, Bilibili up more than 14%, Li Auto up more than 11%, Pinduoduo up more than 8%, JD.com up more than 7%, and Alibaba up more than 6%.

On Tuesday (October 1) evening local time, Iran launched a missile attack on Israel. International oil prices rose, as of the close of the day, the price of light crude oil futures for November delivery on the New York Mercantile Exchange rose by $1.66 to close at $69.83 per barrel, an increase of 2.44%; London Brent crude futures for December delivery rose $1.86, or 2.59%, to settle at $73.56 a barrel. International gold prices rose, and as of the close of the day, the main COMEX gold futures contract rose $30.90 / ounce, or 1.16%, to $2690.30 / ounce.

【Hot Prospects】

Li Qiang signed an order of the State Council to promulgate the "Regulations on the Management of Network Data Security"

Premier Li Qiang recently signed a decree of the State Council promulgating the Regulations on the Management of Network Data Security (hereinafter referred to as the "Regulations"), which will come into force on January 1, 2025. The "Regulations" aim to regulate network data processing activities, ensure the security of network data, promote the reasonable and effective use of network data in accordance with the law, protect the legitimate rights and interests of individuals and organizations, and safeguard national security and public interests.

ByteDance is reported to have signed a $10.8 billion corporate loan, which will be the highest in Asia

According to people familiar with the matter, ByteDance will sign a $10.8 billion loan, which will be the largest corporate dollar loan ever in Asia. About 20 banks will provide financing, according to people familiar with the matter. The most amazing thing about this dollar loan is that the three major capital groups in United States, Citigroup, Goldman Sachs, and JPMorgan Chase, jointly coordinated financing, and 20 well-known banks around the world participated in providing ByteDance dollar loans. This also means that the situation of ByteDance and its TikTok (Douyin overseas version) in the United States has shifted from passive to active, and ByteDance and founder Zhang Yiming have pulled back a game.

The first general strike at a United States port in 50 years

Earlier Tuesday local time, dock workers on the east coast of United States and along the Mexico Bay began a strike, their first large-scale strike in nearly 50 years, which will disrupt about half of the United States's shipping. The strike has blocked the transportation of food to cars at dozens of ports from Maine to Texas. Analysts warn that the strikes will cause billions of dollars in economic losses every day, threaten local jobs, and exacerbate inflation. United States National Retail Federation urged Biden to intervene to stop the port strike, saying it "would have devastating consequences for United States workers."

Shigeru Ishiba was officially elected Prime Minister of Japan

On October 1, local time, Shigeru Ishiba, the new president of the Liberal Democratic Party of Japan, won more than half of the votes in the prime minister's nomination election in the House of Representatives and the Senate of the Provisional Diet and was officially elected as the prime minister of Japan. On the morning of the same day, Japan's Kishida cabinet had collectively resigned at the interim ministerial meeting. Japan's Nikkei 225 fell more than 4% on Monday after Japan released a series of mixed economic data as traders reacted to the election of incoming Prime Minister Shigeru Ishiba.

Cui Dongshu: China accounts for 67% of the world's NEV market from January to August 2024

Cui Dongshu, secretary general of the passenger association, said in a recent article that the recent growth rate of China's new energy passenger vehicles is stronger than the world average growth rate. In 2022, China's global share of new energy passenger vehicles exceeded 63%. China will account for 64% of the world's share in 2023 and will continue to maintain a 67% share from January to August 2024, of which China's global share of new energy passenger vehicles will reach 73% from July to August.

China Index Research Institute: From January to September, the total amount of land acquired by the top 100 enterprises was 532.4 billion yuan, a year-on-year decrease of 38.1%

Zhitong Financial APP learned that the China Index Research Institute issued a document saying that from January to September 2024, the total amount of land acquired by the top 100 enterprises was 532.4 billion yuan, a year-on-year decrease of 38.1%, which was 1.9 percentage points narrower than that from January to August due to the low base of the previous year. Since the beginning of this year, the national land market has continued to operate at a low temperature, with the government pushing land and real estate companies lacking confidence in acquiring land, and land supply and demand have continued to shrink. According to preliminary statistics, in the first three quarters of 2024, the year-on-year decline in the supply and demand of residential land in 300 cities across the country will be more than 30%, and the land transfer fee will drop by more than 40%, and the year-on-year decline in the third quarter will be slightly narrowed. In the first three quarters, the average floor price of 300 cities decreased by 13.3% year-on-year, and the premium rate decreased by 0.7 percentage points compared with the same period last year.

There are all the leading brokerages working overtime on the National Day: account opening review + IT system expansion preparation and testing

I learned from the investment advisory department of a leading domestic brokerage firm that the brokerage worked overtime on the National Day. "We went to work today, mainly to do the review of new accounts, supervise the counter and do data combing. Recently, there have been a lot of accounts, and we haven't had time to do statistics, but we feel that this hot mood is very much like going back to 2015. The relevant person in charge of the brokerage investment advisory department said, "In addition, more importantly, the brokerage system should be upgraded in a round, or the server will be expanded, and on October 7, the IT department of the brokerage company will all take up posts and do system stability tests, all of which must be qualified, which feels like a war." During the entire National Day, the IT department is open and the management department is on rotation. "It involves the Chinese brokerage sector of Hong Kong stocks.

Institutions pay close attention to the opportunities of the National Day holiday, and listed companies in the tourism category are being investigated together

Before the National Day holiday, the attention of institutions to tourism-related sectors has increased significantly. CICC, CITIC Securities, China Southern Asset Management, China Merchants Fund and other well-known institutions have investigated listed tourism companies such as Emeishan, HNA Holdings, and China Youth Travel Service, covering issues such as passenger flow structure, transportation construction, off-season coping strategies, and publicity channels. Institutions are generally optimistic about the recovery prospects of the tourism industry, and pay close attention to how companies can increase visitor flow and spending power during the holiday season through product upgrades and marketing strategies.

WuXi AppTec: In September this year, the total publicly disclosed financing in the global biopharmaceutical sector exceeded US$4.7 billion

According to WuXi AppTec's content department, as of September 30, 2024, more than 154 financing activities have been completed in the global biopharmaceutical field in September this year, and the cumulative total publicly disclosed financing has exceeded US$4.7 billion. Among them, 18 companies focused on developing innovative drugs have completed a single financing amount of more than $50 million.

A list of the September report cards of some new energy vehicle companies

1. VOYAH Automobile: Deliveries exceeded 10,000 in September, and monthly sales rose for five consecutive years. 2. Leapmotor: 33,767 units were delivered in September, a year-on-year increase of 113.7%. 3. ZEEKR Automobile: 21,333 units were delivered in September 2024, setting a new record high. 4. Xpeng Motors: Delivered 21,352 new vehicles in September, a record number for monthly deliveries. 5. Li Auto: 53,709 vehicles were delivered in September 2024, setting a record for monthly deliveries. 6. Deep Blue Automobile: In September, Deep Blue Auto delivered a total of 22,709 vehicles, a year-on-year increase of 30.74%.

【Individual stocks】

Leapmotor (09863): 33,767 units were delivered in September, a year-on-year increase of 113.7%

Leapmotor announced on October 1 that it delivered 33,767 units in September, a year-on-year increase of 113.7%; A total of 172861 units were in the first three quarters, a year-on-year increase of 94.6%.

On September 24, Leap C10 and T03 were officially launched in Europe, and the global media test drive was launched in Milan, Italy at the same time, marking the official debut of Leap International in Europe. The C10 and T03 models sold by Leapmotor International are equipped with class-leading electric technology, providing a high level of performance, efficiency, safety and range. In addition, the Stellantis Group's distribution network guarantees peace of mind in terms of service and after-sales, providing families with mobility at more competitive prices.

With Stellantis' distribution channels, Leaprun International plans to increase its global sales network to 350 in the fourth quarter. In addition, Leapmotor International also plans to release at least one model per year for the next three years. By the end of the year, the European markets involved included Belgium, France, Germany, Greece, Italy, Luxembourg, Malta, Netherlands, Portugal, Romania, Spain, Switzerland and the United Kingdom. All of these markets are supported by the Stellantis Group's global sales network and professional brand management. Starting in the fourth quarter of 2024, Leapmotor's commercial operations will also expand to the Middle East and Africa (Turkey, Israel and France overseas territories), Asia Pacific (Australia, New Zealand, Thailand, Malaysia, Nepal) and South America (Brazil and Chile).

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