The morning newspaper Jun first takes you to see the hot spots of the global stock market in the past 24 hours.
In terms of U.S. stocks, Fed Chairman Jerome Powell's hawkish speech at the annual meeting of global central banks in Jackson Hole last week is still affecting the market, and the three major indexes closed down collectively, with the Dow down 0.57% at 32,098.99 points, the S&P 500 down 0.67% at 4030.61 points, and the NASDAQ down 1.02% at 12,017.67 points.
Big tech stocks are generally lower. Apple fell 1.37 percent, and attorneys at the U.S. Department of Justice are in the early stages of drafting an indictment against Apple. Microsoft, down 1.07 percent and Amazon down 0.73 percent, will invest $100 million in Turkey to launch a local logistics center and hire more than 1,000 employees. Tesla fell 1.14 percent, musk said in a speech that he hopes to announce the location of another Tesla factory later this year, and hopes to widely release Tesla's self-driving cars in the United States by the end of the year, and is expected to launch in Europe. Meta fell 1.61%. Retail huddle stocks 3B Home are up more than 24% and have risen more than 165% so far in August.
Most Chinese stocks closed lower, with the NASDAQ China Golden Dragon Index down 0.83%. Ali fell 1.44 percent, and Mizuho reiterated its buy rating on Ali with a price target of $160. JD.com fell 1.8%, Pinduoduo bucked the trend and rose 14.71%, Q2 revenue exceeded expectations to increase to 31.4 billion, net profit exceeded 10 billion, and the proportion of marketing expenses fell to 36%. WEILAI fell 0.55%, Ideal fell 3.93%, and Xiaopeng fell 2.17%. Cui Dongshu, a member of the China Association of Automobile Manufacturers, said that China's share of new energy vehicles in the world rose to 68% in July. Wuxin Technology fell by 3.38%, and the new national standard products began to be sold on the national unified e-cigarette trading management platform. Macao amended the Tobacco Control Law to completely ban the manufacture and sale of e-cigarettes.
In terms of A-shares, the Shanghai index closed up 0.14% at 3240 points driven by energy, military and other stocks, while the Shenzhen Component Index and the ChiNext Index fell by 0.34% and 0.37% respectively. The track stocks that have fallen continuously have stabilized, the concept of photovoltaic, energy storage, and military industry has risen in the front, and the subdivision concepts such as virtual power plants and solar thermal power generation have risen sharply; The concept of heat pump is outstanding, and many shares such as Wanhe Electric and Dayuan Pump Industry are up and down. Brewing, warehousing and logistics, and financial sectors fell ahead, while Yanghe Shares and Industrial Bank fell 5%.
Hong Kong stocks continued their rally, with the three major indexes showing weakness throughout the day, with the Hang Seng Index falling 0.73% to the 20,000-point mark, while the National Index and the Hang Seng Technology Index fell 0.7% and 1.23% respectively. The concept of electronic cigarettes and the biotechnology sector fell sharply; Domestic housing stocks and property management stocks once again fell hand in hand, and shipping stocks, building materials and cement stocks, gold stocks, gas stocks, sporting goods stocks, and home appliance stocks fell. Education stocks continued to be active, Tianli International Holdings nearly doubled in the past 5 days, and coal stocks, traditional Chinese medicine stocks, and power stocks rose significantly in the afternoon.
European stocks closed lower across the board, with Germany's DAX30 down 0.59% and France's CAC40 down 0.83%. The London Stock Exchange is closed for one day due to the summer bank holidays. The eurozone will release the consumer price index (CPI) on Wednesday, and the market expects the CPI to rise 9% year-on-year in August, up from 8.9% in July, and the ECB is expected to face greater pressure to raise interest rates in September.
In terms of global major asset prices, the settlement price of international crude oil futures rose sharply, and U.S. oil and cloth oil both hit new highs since August 2. WTI Crude Oil Futures for October closed up $3.95, or 4.24 percent, at $97.01 a barrel. Brent Crude Futures for October closed up $4.1, or 4.06 percent, at $105.09 a barrel. On the news side, OPEC+ is preparing to cut production and geopolitical factors have boosted oil prices. Gold edged lower, with COMEX December gold futures closing down less than 0.01% at $1749.70 an ounce.
What's so important to watch out for last night and so far? Let's take a look
1. Premier of the State Council: This year, a package of policies to stabilize the economy and a succession of policies have been introduced
When the Premier of the State Council attended the Tenth National Video conference on Deepening the Reform of "Decentralization and Management Service", he pointed out that the reform of "Decentralization Service" is to open up and invigorate, promote fair competition, stimulate market vitality and social creativity, focusing on cultivating and expanding market players, which has now reached more than 160 million households, an increase of nearly 2 times over ten years ago, supporting the doubling of the total economic volume, carrying more than 700 million people to employment and entrepreneurship. It is necessary to put these policies in place, deepen the reform of "decentralization and management of services", focus on stabilizing employment and prices, and keep the economic operation within a reasonable range.
2. The Ministry of Industry and Information Technology and other five departments jointly issued an action plan to accelerate the green and low-carbon innovation and development of power equipment
The Ministry of Industry and Information Technology and other five departments jointly issued an action plan to accelerate the green and low-carbon innovation and development of power equipment, focusing on 10 areas of power equipment such as thermal power equipment, hydropower equipment, nuclear power equipment, wind power equipment, solar energy equipment, hydrogen energy equipment, energy storage equipment, transmission equipment, power distribution equipment, and electrical equipment, and put forward six actions. The action plan proposes that through 5-8 years, the cumulative flexibility transformation capacity of coal-fired power units will exceed 200 million kilowatts, wind power and solar power generation equipment will meet the installed capacity demand of more than 1.2 billion kilowatts, and nuclear power equipment will meet the installed capacity demand of 70 million kilowatts。
3. Macao amended the Tobacco Control Law to completely prohibit the manufacture and sale of e-cigarettes
The General Assembly of the Macao SAR Legislative Council passed the Amending Of Law No. 5/2011 on the Prevention and Control of Smoking Regime. In the future, the Macao SAR will prohibit the manufacture, distribution, sale, import and export of e-cigarettes, as well as tobacco products for oral or nasal inhalation, including the carriage of such products out of and into the Macao SAR. The law has been in force since the 90th anniversary of its promulgation.
4. Henan: The principal of 400,000-500,000 yuan for off-the-books customers of 4 village and township banks began to be advanced
Henan Banking and Insurance Regulatory Bureau and Henan Provincial Local Financial Supervision Bureau: In accordance with the arrangement of advance payment, starting from 9:00 a.m. on August 30, 2022, the consolidated amount of principal of Yuzhou Xinmin Village bank, Shangcai Huimin Village bank, Zhaocheng Huanghuai Village bank, and Kaifeng New Oriental Village and Town Bank for off-the-books business customers will begin to advance from 400,000 yuan to 500,000 yuan (inclusive), and the advance will continue to be made below 400,000 yuan (inclusive). Those above 500,000 yuan shall be paid in advance according to 500,000 yuan, and part of the rights and interests that have not been advanced shall be retained, and shall be handled in accordance with laws and regulations according to the circumstances of the recovery of assets involved in the case.
5. The State Food and Drug Administration notified 20 batches of drugs that were not compliant
On August 29, the official website of the State Food and Drug Administration released the news that after inspection by 6 drug inspection agencies such as the China Food and Drug Inspection Institute, 20 batches of drugs of 7 varieties did not meet the regulations. The drugs notified this time include both proprietary medicines and Chinese medicine tablets, involving a total of 9 enterprises, including the Huoxiang Zhengqi water produced by Taiji Group Sichuan Nanchong Pharmaceutical Co., Ltd. does not meet the regulations, and the non-compliant items are methanol.
6. The First Discovery of the Aomi Kerong BF.15 variant strain was found in Shenzhen
The Shenzhen Municipal Center for Disease Control and Prevention conducted a comparative analysis of the genome sequence of the virus in all cases since August 23 in the city, and the sequencing results showed that most of the infected strains were BF.15 variants (sub-branches of BA.5.2.1) which were the first to be found in Shenzhen, and some cases were BA.5.2, BA.5.2.1 and BA.2.2 variants. The above-mentioned cases of infected strains are highly homologous to some of the strain sequences reported overseas, and the possibility of local infection caused by imports from overseas is not excluded.
7. Musk: Oil and gas extraction cannot be stopped! The energy transition will take decades
Tesla CEO Elon Musk said at an energy conference on Monday that realistically, I think we still need to use oil and gas in the short term, otherwise civilization will collapse. Musk also said that one of the biggest challenges the world has ever faced is the transition to sustainable energy and a sustainable economy, which will take decades to complete.
8. Pinduoduo: Q2 revenue and profit are much better than expected
Pinduoduo's 2022 Q2 revenue was 31.44 billion yuan, an increase of 36.42% year-on-year, and the market expected 23.645 billion yuan; the net profit was 8.896 billion yuan, an increase of 268% year-on-year, and the market expected 3.335 billion yuan; and the adjusted net profit was 10.7763 billion yuan, an increase of 161% year-on-year. Q2 Adjusted earnings per ADS were $7.54, exceeding market expectations of $2.75, compared to $2.85 in the year-ago quarter. Chen Lei, chairman and CEO of Pinduoduo, said that market demand increased in the second quarter, and consumption showed a continuous recovery trend.
9. Goertek shares: net profit in the first three quarters increased by 15%-30% year-on-year
Goertek announced that it is expected to achieve a net profit of 3.83 billion yuan to 4.33 billion yuan in the first three quarters, an increase of 15% to 30% year-on-year. Compared with the same period last year, mainly due to the expansion of the intelligent hardware business represented by VR virtual reality, profitability improved; At the same time, the investment income obtained by the company from the disposal of the equity of the participating company is about 290 million yuan. On the same day of the announcement, Goertek disclosed its semi-annual report, and the company achieved a net profit of 2.079 billion yuan in the first half of the year, an increase of 20.09% year-on-year.
10. Yahua Group: Net profit in the first three quarters increased by 447.53%-479.16%
Yahua Group announced that it is expected to achieve a net profit of 3.46 billion yuan - 3.66 billion yuan in the first three quarters, an increase of 447.53% - 479.16% year-on-year; during the reporting period, the demand for new energy market was strong, and the price of lithium salt products remained at a high level.
11. Jiuan Medical: Net profit in the first half of the year was 15.244 billion yuan, an increase of 27728% year-on-year
Jiuan Medical announced that in the half year of 2022, the operating income was 23.267 billion yuan, an increase of 3989.07% year-on-year; the net profit attributable to the mother was 15.244 billion yuan, an increase of 27728.49% year-on-year; and the basic earnings per share were 33.43 yuan. Due to the significant increase in sales revenue of iHealth kit products during the reporting period, the company's performance in the reporting period also increased significantly compared with the same period last year.
12. BYD: Net profit in the first half of the year was 3.595 billion yuan, up 206.35% year-on-year
BYD disclosed its semi-annual report that the company's operating income in the half year of 2022 was 150.607 billion yuan, an increase of 65.71% year-on-year; the net profit attributable to the mother was 3.595 billion yuan, an increase of 206.35% year-on-year; and the basic earnings per share were 1.24 yuan. Among them, the revenue of the automobile, automobile-related products and other products business was about 109.267 billion yuan, an increase of 130.31% year-on-year; the revenue of the mobile phone parts, assembly and other products business was about 41.07 billion yuan, down 4.78% year-on-year; the proportion of total revenue was 72.55% and 27.27% respectively.
13. CITIC Securities: Net profit in the first half of the year was 11.196 billion yuan, down 8.21% year-on-year
CITIC Securities announced that in the first half of the year, it achieved operating income of 34.885 billion yuan, down 7.52% year-on-year; net profit of 11.196 billion yuan, down 8.21% year-on-year; basic earnings per share of 0.76 yuan. CITIC Securities Q1 net profit was RMB5.229 billion, based on which Q2 net profit was RMB5.967 billion, an increase of 14% month-on-month.
14. Hemai shares: net profit in the first half of the year was 202 million yuan, an increase of 156.5% year-on-year
Hemai co., Ltd. released its semi-annual report, the company achieved operating income of 514 million yuan in the first half of the year, an increase of 61.55% year-on-year, net profit of 202 million yuan, an increase of 156.5% year-on-year; basic earnings per share of 3.60 yuan.
15. Haitian Flavor Industry: Net profit in the first half of the year was 3.393 billion yuan, an increase of 1.21% year-on-year
Haitian Flavor Disclosed semi-annual report, the company achieved operating income of 13.532 billion yuan in the first half of the year, an increase of 9.73% year-on-year, net profit of 3.393 billion yuan, an increase of 1.21% year-on-year; basic earnings per share of 0.73 yuan.
16. Fosun Pharma: Net profit of RMB1.547 billion in the first half of the year decreased by 37% year-on-year
Fosun Pharma: Achieved a net profit of 1.547 billion yuan in the first half of the year, down 37.67% year-on-year, and deducted non-net profit by 18.57% year-on-year; the holding subsidiary intends to invest 1 billion yuan to build the "Innovative Vaccine Headquarters and Industrialization Base Project" in Chengdu Tianfu International Bio-City.
17. North Huachuang: Net profit in the first half of the year was 755 million yuan, an increase of 143.16% year-on-year
North Huachuang disclosed the semi-annual report, the company's operating income in the half year of 2022 was 5.444 billion yuan, an increase of 50.87% year-on-year; the net profit attributable to the mother was 755 million yuan, an increase of 143.16% year-on-year; and the basic earnings per share were 1.43 yuan. During the reporting period, the company's newly signed orders continued to grow, products were delivered in an orderly manner, and operating performance maintained growth.
18. Ping An of China: Completed the A-share repurchase plan
Ping An announced that on August 26, 2022, the company completed the repurchase plan, and repurchased 103 million A-share shares in a centralized auction transaction, accounting for 0.56122% of the company's total share capital, with a total of 5 billion yuan (excluding transaction fees) paid, the lowest transaction price was 43.72 yuan / share, the highest transaction price was 51.96 yuan / share, and the average repurchase price was 48.74 yuan / share.
19. Jinyuan Shares: Director Zhao Weidong was taken criminal compulsory measures on suspicion of colluding in bidding
Jinyuan shares announced that the board of directors received a notice from the family of Zhao Weidong, a director and deputy general manager of the company, that Zhao Weidong was taken into criminal detention by the Lanxi Municipal Public Security Bureau for suspected collusion in bidding. At present, the company has no information about the specific case, and the case is in the process of being investigated.
1. Ministry of Finance: Operating income of state-owned enterprises increased by 9.5% year-on-year in the first seven months of July
According to data from the Ministry of Finance, from January to July, the total operating income of state-owned enterprises was 45,779.63 billion yuan, an increase of 9.5% year-on-year. Among them, the central enterprises were 25,746.58 billion yuan, an increase of 10.6% year-on-year; the local state-owned enterprises were 20,033.05 billion yuan, an increase of 8.1% year-on-year. From January to July, the total profit of state-owned enterprises was 2,675.54 billion yuan, down 2.1% year-on-year. Among them, the central enterprises were 1,918.61 billion yuan, an increase of 4.3% year-on-year; the local state-owned enterprises were 756.93 billion yuan, down 15.3% year-on-year.
2. 13 departments issued a number of policy measures to support the relief and support of the old-age childcare service industry
The measures propose that in 2022, all localities will reduce the resource tax, urban maintenance and construction tax, real estate tax, urban land use tax, stamp duty (excluding stamp duty on securities transactions), arable land occupation tax and education fee surcharge, and local education surcharge for eligible old-age care service institutions in accordance with the 50% tax amount. Carry out pilot projects for special refinancing for inclusive old-age care, support financial institutions to provide loans to inclusive old-age service institutions through the financing credit service platform network, and further expand the scope of the pilot after evaluating and improving policies according to the pilot situation.
3. The central government once again issued 10 billion yuan of agricultural subsidies to farmers who actually grow grain
The central government recently issued a fund of 10 billion yuan to once again issue a one-time subsidy for agricultural materials to farmers who actually grow grain, coordinate support for autumn harvest and autumn planting, alleviate the impact of increasing grain expenditure brought about by the rise in the price of agricultural materials, and further mobilize the enthusiasm of farmers to grow grain. So far, in 2022, the central government has issued a total of 40 billion yuan of subsidy funds in three batches.
4. The national bailout fund of 200 billion yuan for "guaranteeing the delivery of buildings" was launched
From a number of independent sources, it was confirmed that the initial scale of this special loan reached 200 billion yuan, and the central bank guided the China Development Bank and the Agricultural Development Bank of China to arrange in the existing loan amount, and the Export-Import Bank of China may also join in the future. According to the actual amount of borrowing, the central finance department will give a 1% discount to the policy banks, and the discount period will not exceed two years.
5. Guangdong Province supports Dongguan to build a strong city of science and technology manufacturing
Guangdong supports Dongguan to build a strong city of science and technology manufacturing, with the goal of striving to achieve a regional GDP of more than 1.3 trillion yuan by 2025; by 2035, the economic strength, scientific and technological strength and comprehensive competitiveness will jump significantly, and the total economic volume will be doubled on the basis of 2020.
6. Fed GDPNow model raises US Q3 economic growth forecast to 1.6%
The ATLANTA Fed GDP Now model expects U.S. GDP to grow by 1.6 percent in the third quarter, up from 1.4 percent previously. Among them, the contribution of exports to GDP rose sharply to 3.7% from 1.7%, while personal consumption expenditure was lowered to 2%.
7. The European Union will convene an emergency energy conference on September 9 to discuss the crisis response plan
The Czech Republic, the Rotating Presidency of the European Union, convenes a special meeting of energy ministers to discuss a regional holistic solution to the boom in the electricity market. Czech Minister of Industry and Trade Jozef Sikela said the meeting, which will take place in Brussels on September 9, will discuss concrete measures to address the energy crisis. Sikela said Monday that the energy market "has been shut down and we have to fix it.". Czech officials have proposed limiting the price of natural gas for power generation.
8. GDP growth in the OECD region remained weak in the second quarter
Preliminary data released by the Organization for Economic Cooperation and Development (OECD) on the 29th showed that in the second quarter of 2022, the gross domestic product (GDP) of the OECD region increased by 0.3% month-on-month, unchanged from the previous quarter. The data showed that the G7 GDP grew by 0.2% month-on-month in the second quarter, slightly higher than the zero growth in the first quarter. Among them, the economies of the United States and the United Kingdom both fell by 0.1% in the second quarter, the growth rate of the German economy slowed sharply to 0.1% from 0.8% in the first quarter, the economy of Japan and France both grew by 0.5% in the second quarter, and the economies of Italy and Canada increased by 1.0% and 1.1% respectively in the second quarter.
1. The state will release government pork reserves from September
In order to ensure the supply of pork market during the holidays, the National Development and Reform Commission will work with relevant departments to release government pork reserves in batches since September, and guide local linkage to release reserves. At the same time, we pay close attention to market dynamics and maintain normal market order. It is recommended that breeding (farm) households reasonably arrange production and operation, and maintain a normal rhythm of discharge; Relevant enterprises released commercial inventories of pork in an orderly manner to increase market supply.
2. Cui Dongshu, China's share of new energy vehicles in the world rose to 68% in July
Cui Dongshu, secretary general of the Association, said that in 2022, the trend of new energy passenger vehicles in the world is strong, and sales from January to July reached 5 million units, an increase of 70% year-on-year. Among them, sales in July were 830,000 units, an increase of 73% year-on-year. Less than 4% of commercial vehicles in the world's new energy vehicles, new energy passenger cars as the mainstay. From January to July 2022, China accounted for 60.6% of the world's new energy share, of which China accounted for 68% of the world's share in July.
3. From January to August, the bidding scale of photovoltaic modules has exceeded 2 yuan / watt for nearly 100GW modules
From January to August this year, the scale of photovoltaic module tenders released by major enterprises has reached nearly 100GW, which is more than twice the bidding volume of the whole year of 2021, and hit a record high. Under the "soaring" of raw materials, although it may not have an impact on the scale of component collection bidding, the impact on component prices should not be questioned. Since 2022, the price of components has remained high, the price of components hovers between 1.85 and 2 yuan / W, compared with the price of 1.56 yuan / W in early 2021, up 30.8%, to July and August, it is difficult to see less than 1.9 yuan / W component calibration price, more than 2 yuan / W component calibration price is more common.
4. Canalys: Q2 Huawei tablet has a domestic market share of 17.7%, ranking second
Severely affected by the production disruption, Apple's share of 2022Q2 in China's domestic tablet market fell to 23.8% year-on-year. Despite the shortage of supply, Huawei still ranks second with a market share of 17.7% thanks to a solid and loyal user base in the domestic market. Lenovo's shipments increased by 145% quarterly, once again occupying the third place in the list. Xiaomi and Honor are among the top five with market shares of 8% and 7%, respectively.
This article originated from The Grand Gateway Financial Breakfast