On June 1, local time, U.S. stocks opened mixed, and the major stock indexes of European stocks narrowed their intraday gains.
On the news, although the bill to raise the debt ceiling has been passed by the House of Representatives, in the eyes of industry insiders, it is still difficult for the US stock market to stabilize when Fed officials disagree on the progress of subsequent interest rate hikes and the banking crisis has not been completely resolved.
On the evening of June 1, China Rare Earth Group issued a solemn statement on the illegal capital investment and other activities of criminals in the name of "Oriental Rare Earth", saying that Oriental Rare Earth is a fiction of criminals, and all their behaviors have nothing to do with China Rare Earth Group and its affiliated enterprises.
Official re-notification: "zero tolerance", dismissal!
The WeChat public account "Wonderful Liunan" of the Propaganda Department of the Liunan District Party Committee of Liuzhou City, Guangxi Province issued a "circular" on June 1: In response to online rumors that a public official in Liunan District had an indecent chat record with a woman, Liunan District attached great importance to it and immediately organized relevant departments to carry out verification. At present, the person involved Liang (secretary of the party group and director of the Liunan District Bureau of Industry and Information Technology) has been dismissed, and the relevant issues are being further verified.
According to the circular, the district has "zero tolerance" for violations of discipline and law by party members and cadres, and will seriously deal with relevant issues in accordance with rules and disciplines and in accordance with the law.
Source: WeChat public account of the Publicity Department of Liunan District Party Committee of Liuzhou City, Guangxi
Now pretending to be a central enterprise to deceive!
ON THE EVENING OF JUNE 1, CHINA RARE EARTH GROUP ISSUED A STATEMENT ON ITS OFFICIAL WECHAT PUBLIC ACCOUNT, SAYING THAT THE COMPANY HAD RECENTLY DISCOVERED THAT CRIMINALS IN THE NAME OF "ORIENTAL RARE EARTH" WERE IMPERSONATING ENTERPRISES BELONGING TO CHINA RARE EARTH GROUP AND ILLEGALLY CARRYING OUT CAPITAL INVESTMENT AND OTHER ACTIVITIES. China Rare Earth Group hereby solemnly declares the following:
Image source: China Rare Earth Group official WeChat account
1. After verification, Oriental Rare Earth is a fictional element and has no affiliation, equity relationship or management relationship with China Rare Earth Group, nor any investment, cooperation, business or other relationship, and all its behaviors have no connection with China Rare Earth Group and its affiliated enterprises. The seal of "China Rare Earth Group Co., Ltd." used by Oriental Rare Earth and the documents issued in the name of China Rare Earth Group are forged.
2. Any dispute, any loss or any related liability caused by any act of Oriental Rare Earth has nothing to do with China Rare Earth Group and its affiliated enterprises, and China Rare Earth Group does not assume any legal responsibility.
3. China Rare Earth Group has reported to the relevant departments that it solemnly requires relevant units to immediately stop illegal acts such as infringement and fraud, and reserves the right to pursue legal responsibility for any behavior that damages the reputation of China Rare Earth Group.
Fourth, all sectors of society are requested to be vigilant and pay attention to preventing risks. If you find counterfeiting, please report it to the public security organ and regulatory department immediately.
According to the official website of China Rare Earth Group, China Rare Earth Group was established in Ganzhou, Jiangxi Province on December 23, 2021, with three backbone enterprises, including China Rare Earth Co., Ltd., Minmetals Rare Earth Group Co., Ltd. and China South Rare Earth Group Co., Ltd., whose business scope covers rare earth technology research and development, exploration and development, smelting and separation, deep processing, downstream applications, complete sets of equipment, technical consulting services, import and export and trade, and has the ability to develop the whole rare earth industry chain.
Institutions: The U.S. stock market has not yet stabilized
On June 1, local time, U.S. stocks opened mixed. As of 22:35 Beijing time on June 1, the Dow fell 0.17%, the NASDAQ rose 0.09%, and the S&P 500 rose 0.13%.
Image source: Wind
Among popular Chinese concept stocks, Bilibili fell more than 3% intraday, and its share price once hit a new low since 2023. According to the company's financial report, its revenue in the first quarter of 2023 increased by 0.3% year-on-year, and its net loss narrowed by 72% year-on-year to 630 million yuan.
A sharp sword hanging over the head of the US stock market, the debt ceiling bill, was finally passed by the House of Representatives. On the evening of May 31, local time, the House of Representatives of the US Congress voted to pass a bill on the federal government's debt ceiling and budget, which suspends the debt ceiling from taking effect until early 2025 and limits spending in fiscal 2024 and fiscal 2025. According to the legislative process, the bill must be passed by the Senate and then submitted to President Biden for signature before it can take effect.
It is reported that on May 31, local time, US President Biden urged the Senate to pass the debt ceiling bill as soon as possible. Biden said the final version of the debt ceiling bill was the result of a bipartisan compromise and "neither side got everything it wanted." The Senate is expected to complete the vote by June 5. Previously, the US Treasury Department had said that if Congress did not act, the United States could default as early as June 5.
Huatai Securities analysis believes that the United States is expected to enter a shallow recession in the first half of 2024, and fiscal austerity will increase the recessionary pressure faced by the US economy in 2024, but the magnitude may be relatively limited. In addition, as of May 25, the balance of the US Treasury Deposit Account (TGA) was only $38.8 billion, which is at a historically low level, and it is estimated that 1.46 trillion US dollars of new Treasury bonds will be added in the second and third quarters.
As far as inflation, another sword hanging over the market, the minutes of the Fed's May interest rate meeting released last week showed that Fed officials still have some disagreement on whether they will continue to raise interest rates this year, and the hawkish comments from Fed officials since then have also disturbed the market. In the view of Sichuan Finance Securities, the US stock market has not yet stabilized due to the disturbance of factors such as the debt ceiling problem, the banking crisis and the economic downturn.
Baidu Network Disk responded to being removed
On June 1, the topic of "Baidu network disk was removed from Apple's AppStore" rushed to the hot search.
Some netizens left a message under the official Weibo of Baidu network disk "Why can't I download it". Baidu Netpan's official Weibo replied to the comment, saying, "Sorry dear, it's already in urgent communication, please be patient!" You can use our network disk in the Baidu APP mini program first, thank you very much for your support and attention to Baidu network disk! ”
Subsequently, Baidu network disk responded on the official Weibo: the latest version of Baidu network disk is being upgraded and optimized, resulting in temporary inability to download in the Apple APP Store, will soon return to normal, users who have installed Baidu network disk APP will not affect normal use.
Source: Weibo
Editor: Wang Yin