Integrate and summarize domestic and foreign information sharing! It does not constitute any investment advice! Beware of non-originality! Unoriginal! Unoriginal!

The following information source: Financial Associated Press information summary sharing

On October 30, the three major U.S. stock indexes collectively opened higher, with the Dow up 0.72%, the Nasdaq up 0.85%, and the S&P 500 up 0.64%. Western Digital rose nearly 11% after announcing that it would split into two publicly traded companies. McDonald's rose nearly 2%, and its Q3 revenue and profit exceeded expectations. Most of the popular Chinese concept stocks rose, Bilibili rose more than 4%, Xpeng Motors rose more than 3%, Baidu rose more than 2%, and Weilai and JD.com rose nearly 2%.

[General Motors and UAW reach a preliminary agreement to end the six-week strike] Financial Associated Press, October 30, people familiar with the matter revealed that General Motors and the United of American Auto Workers (UAW) reached a preliminary agreement, the six-week strike will end. The terms of the agreement are similar to those previously agreed between Ford and UAW. The more than four-year contract includes a 25 per cent increase in hourly wages as well as a cost-of-living allowance, the source said. The agreement still needs to be approved by GM union members. GM rose 1.8% in premarket trading.

On October 30, the financial news of the U.S. stock market that investors need to pay attention to is as follows:

1. U.S. stock index futures rose collectively, as of now, Dow futures rose 0.59%, S&P 500 futures rose 0.64%, and Nasdaq 100 futures rose 0.74%.

2. Most European stock markets rose, with the German DAX index up 0.53%, the French CAC index up 0.66%, and the British FTSE index up 0.71%.

3. Michael Wilson, one of the famous bears on Wall Street and chief U.S. stock strategist at Morgan Stanley, said that U.S. stocks are unlikely to be boosted before the end of the year. Monetary and fiscal policy remains tight, and earnings remain at risk for most companies.

4. The Biden administration has issued an executive order on artificial intelligence (AI) aimed at controlling the risks posed by this new technology. This is the first executive order on AI issued by the U.S. government.

5. Apple is reported to have launched three new Mac chips at the press conference on October 31, Beijing time - M3, M3 Pro and M3 Max, as well as the new MacBook Pro and iMac.

6. Qualcomm confirmed that Samsung and LG are developing XR devices based on Qualcomm chips. In addition, Qualcomm will release a new generation of XR chips in the first quarter of 2024.

7. Faraday Future announced that the company plans to deliver five FF 91 2.0 Futurist Alliance units in November, and plans to increase deliveries to two units per week from the last week of November.

8. Unable to reach a new deal on October 29, the Canadian trade union Unifor called for more than 8,200 auto workers to go on strike, involving two assembly line factories of car company Stellantis in Canada.

9. BeiGene's U.S. stock rose nearly 10% pre-market, and the company's biological research platform has developed more than 10 clinical-stage drugs, including three self-developed molecules that have been approved by the United States, China, the European Union and other market regulators.

10. Toyota's global sales in the first half of this fiscal year hit a record high, reaching 5.596 million units, a year-on-year increase of 8.3%; Benefit from strong market demand and improved supply conditions.

11. According to people familiar with the matter, Citigroup took the lead in providing a $260 million asset-backed financing for WeLab Ltd., the largest online lending platform in Hong Kong. Citigroup acted as the sole senior underwriter for the transaction.

12. The stock price of Western Digital Co., Ltd., which plans to split into two companies, jumped 13% in pre-market trading.

[Biden signed an executive order to release the White House's first regulatory provisions on generative AI] Financial Associated Press, October 30 -- U.S. President Joe Biden signed a "landmark" executive order to launch the first set of regulatory provisions on generative AI in the White House. Under the executive order, multiple U.S. government agencies are required to develop standards to prevent threats such as the use of artificial intelligence to design biological or nuclear weapons, and to develop advanced cybersecurity programs by finding the best ways to verify content such as "watermarks." Specifically, the order requires that AI products be tested and the results of the tests reported to the federal government. It also offers to attract global AI talent to stay in the United States. The executive order requires companies running cloud services to notify the government about their foreign customers, as previously reported by multiple media outlets.

【Monday Investment Public Opinion Hot Spots】

1) Consumer electronics: Huawei will hold a nova new product launch conference tomorrow, due to Nova's lower requirements for parts than the Mate series, the supply share of the domestic supply chain is expected to further increase.

2) Pharmaceutical: According to the agency, the bottom of the pharmaceutical fundamentals is consolidated, and the market may be deduced from weight loss drugs and large varieties to innovative drugs and pharmaceutical core assets.

3) Semiconductor chips: Zhuosheng Micro, Weir shares and other chip stocks performed well in the third quarter, and the downstream demand recovery of some products was superimposed on the reversal of the inventory cycle.

4) Computing power: The construction of the core node of the national supercomputing Internet was officially launched in Zhengzhou, Henan Province on October 28, and the national supercomputing Internet will form an overall layout.

5) Big models: The AI race has escalated, with Google investing $2 billion in OpenAI's rival and Anthropic raising nearly $7 billion in the past year alone.

[Ministry of Finance: In September, a total of 52.774 billion yuan of lottery tickets were sold nationwide, an increase of 58.3% year-on-year] Finance Associated Press on October 30, the Ministry of Finance released data showing that in September, a total of 52.774 billion yuan of lottery tickets were sold nationwide, an increase of 19.442 billion yuan year-on-year, an increase of 58.3%. Among them, the sales of welfare lottery institutions were 18.213 billion yuan, an increase of 5.894 billion yuan year-on-year, an increase of 47.9%; Sports lottery agency sales of 34.561 billion yuan, an increase of 13.548 billion yuan year-on-year, an increase of 64.5%. Mainly affected by the Asian Games and other major events, instant lottery tickets on the market, new channel expansion and other factors, lottery sales increased rapidly over the same period last year.

[Analysis of the daily limit on October 30] Today, a total of 67 shares have a daily limit, a total of 11 stocks on the board, and 27 shares have failed to seal the board, with a sealing rate of 71% (excluding ST shares, delisted stocks and unopened new shares). In terms of individual stocks, the computing power sector has 8 boards for high-tech development, Li Tong Electronics 2 boards, Lotus Health 4 days and 2 boards, satellite Internet concept stocks Longzhou shares 7 boards, Wenyi Technology 10 days 6 boards and Dongfang Jiasheng 2 boards for the chip industry chain, Tianlong shares for 12 days and 6 boards and Qiming Information 3 boards for the automobile industry chain, Qinglong Pipe Industry 4 boards for the water conservancy infrastructure sector, Huijia Times 5 days 3 boards and Yaxiang Integration 2 boards for performance exceeding expectations. Today, 3,551 stocks closed up and 1,379 stocks closed.

10.30 - Summarize domestic and foreign information sharing! It does not constitute any investment advice! Beware of non-originality!

[Closing comments: The GEM index opened high and rose 2.48%, and the turnover of the two cities returned to trillions] Finance Associated Press on October 30, the market fluctuated higher throughout the day, and the GEM index continued to rise sharply. On the disk, consumer electronics concept stocks rebounded collectively, and more than 10 shares such as Everbright Tongchuang, Jingyan Technology, Spring and Autumn Electronics, and Crystal Optoelectronics rose to the limit. The semiconductor sector fluctuated and strengthened, with Zhuosheng Micro, Farah Electronics, Xingsen Technology, etc. Pharmaceutical stocks remained strong, with Aosaikang, Jiuzhou Pharmaceutical, and Yuheng Pharmaceutical up and down. Computing power concept stocks are active, and the capital online, Li Tong Electronics, Nanxing shares and other daily limits.

In terms of decline, bank stocks fell into adjustment, with Postal Savings Bank and China CITIC Bank falling more than 4%. Overall, more than 3,500 stocks rose in the two cities, and more than 100 stocks rose more than 9% for two consecutive days. The turnover of the Shanghai and Shenzhen stock markets today was 1,038.1 billion, an increase of 73.7 billion from the previous trading day, returning to the trillion level. In terms of sectors, semiconductors, consumer electronics, CRO, computing power leasing and other sectors were among the top gainers, while automobiles, banks, clothing and home textiles, oil and gas and other sectors were among the top decliners. At the close, the Shanghai Composite Index rose 0.12%, the Shenzhen Component Index rose 1.61%, and the ChiNext Index rose 2.48%. Northbound funds sold a net of 2.398 billion yuan throughout the day, including a net sale of 2.794 billion yuan in Shanghai-Hong Kong Stock Connect and a net purchase of 397 million yuan in Shenzhen-Hong Kong Stock Connect.

On October 30, the Ministry of Finance issued a notice saying that in order to guide the long-term and steady operation of state-owned commercial insurance companies, better play the role of market stabilizer and economic development booster of medium and long-term funds, and strengthen the long-term assessment of state-owned commercial insurance companies, according to the "Ministry of Finance on Printing and Distribution<商业保险公司绩效评价办法>". The relevant provisions of the "Measures" adjust the "return on net assets" of the operating efficiency indicators from the "current year index" to the "3-year cycle index + current year index" combination of assessment method, the 3-year cycle index is "3-year cycle return on net assets (weight of 50%)", and the current year indicator is "current year return on net assets (weight of 50%)".

State-owned commercial insurance companies shall carry out all kinds of investments in accordance with laws and regulations, comply with regulatory requirements on solvency, risk management, corporate governance and other relevant provisions, and match their own investment management capabilities, risk control capabilities and relevant qualifications. High-risk state-owned commercial insurance companies that fail to meet regulatory standards such as solvency must not carry out investments in stocks and other products in violation of regulations. State-owned commercial insurance companies should adhere to the principles of prudence, safety, and appreciation, balance investment returns and risks according to the long-term attributes of insurance funds, optimize asset allocation, and reasonably determine investment targets, investment scales, term structures, and liquidity arrangements. Insurance funds should be invested in assets with controllable risks, stable returns, and stable cash flow returns, and should not be used for high-risk investments with unstable returns, large price fluctuations, and unstable cash flows.

On October 30, Nanjing recently issued an announcement on the listing and transfer of the right to use state-owned construction land in Nanjing (No. 16 and 17 in 2023), and a total of 11 plots were launched, including 9 commercial residential land, 1 commercial and office mixed land and 1 gas station land. Compared with the previous land transfer, the land transfer requirement has deleted the relevant expression that "when the land bid reaches the maximum limit price, if there are still two or more units with bidding intentions, the bidding shall be stopped and the bidder shall be determined by on-site lottery, and all bidders who accept the maximum price limit can participate in the lottery, and the bidding price shall be the maximum limit price plus a price increase". Including Nanjing, the land auction rules in at least six hot cities such as Jinan, Hefei, Xiamen, Chengdu and Qingdao have been adjusted recently, and some land plots to be sold are no longer subject to the upper limit price of land, and the one with the highest price will get it.

[Finance Associated Press October 30 Morning News Selection]

1. The Political Bureau of the Central Committee of the Communist Party of China held a meeting on October 27 to review the "Opinions on Several Policies and Measures to Further Promote the Comprehensive Revitalization of Northeast China in the New Era and Make New Breakthroughs". The meeting emphasized that it is necessary to coordinate development and security, adhere to the combination of increasing support and stimulating endogenous power, and strengthen the strategic supporting role of Northeast China.

2. U.S. President Joe Biden met with visiting Politburo member of the CPC Central Committee and Foreign Minister Wang Yi at the White House on October 27 local time. During the visit, Wang Yi also held two rounds of talks with US Secretary of State Antony Blinken and had strategic communication with US National Security Advisor Jake Sullivan.

3. The U.S. Department of Transportation issued a notice on the 27th that from November 9, Chinese airlines will be allowed to operate a total of 35 regular direct passenger flights between China and the United States per week. If U.S. airlines increase flights in reciprocity, it is expected that the number of flights between China and the United States will increase to 70 per week. Ticket prices between China and the United States may usher in a further decline.

4. The Social Security Foundation organized the 2023 domestic investment manager symposium in Chengdu on the 27th, and everyone believes that the current valuation of mainland equity assets has been at the bottom of history, and A-shares have entered the window period of long-term allocation value.

5. Since Central Huijin announced the purchase of ETFs, the total share of the stock ETF market increased by 20.9 billion shares last week, with a net inflow of about 17.2 billion yuan. The development of equity ETF products has also entered the fast lane, and the SZSE 50 ETF and the second batch of STAR Market 100 ETFs have been approved for issuance.

6. The China Securities Regulatory Commission recently issued a document to extend the validity period of the financial information of the shareholding restructuring project and promote the listed company to reduce the restructuring cost.

7. The "Decision of the Standing Committee of the Shanghai Municipal People's Congress on Promoting and Safeguarding the Construction of the "Five New Cities" was recently voted and passed, and will come into force on October 28, 2023. It was said that this meant giving the five new cities greater autonomy in their development.

8. According to the content of official documents such as the "Guangzhou Urban Renewal Special Plan (2021-2035)", Guangzhou has become the first first-tier city to clearly propose "exploring the policy mechanism for housing ticket resettlement".

9. The Beijing Municipal Medical Insurance Bureau recently notified that since October 31, Beijing medical institutions have fully implemented the results of the second batch of Chinese patent medicine volume procurement, of which 68 quality drugs were selected, and the average reduction rate of the selected varieties was 49.36%.

10. From October 30 to November 3, 59 listed companies in the A-share market will usher in the lifting of restricted shares, with a total market value of 123.027 billion yuan. The leading brokerage companies account for more than half.

11. Hong Kong Special Administrative Region Chief Executive John Lee said on the 28th that he would promote the inclusion of the RMB counter in the Hong Kong Stock Connect and promote the RMB-denominated trading of Hong Kong stocks.

12. Northbound funds bought a net of 4.668 billion yuan on the 27th, the first time since August 4 that they bought for two consecutive days. Tianqi Lithium, BYD and China Duty Free received net purchases of 527 million yuan, 208 million yuan and 163 million yuan respectively. Shanxi Fenjiu had the largest net selling amount, with an amount of 416 million yuan.

13. Huawei announced its operating results for the first three quarters of 2023 on November 27, achieving sales revenue of CNY456.6 billion, up 2.4% year-on-year, and a net profit margin of 16.0%.

14. Cialis announced that its operating income in the third quarter was 5.648 billion yuan, a year-on-year decrease of 47.25%, and a net loss of 950 million yuan.

15. High-tech Development announced that the net profit in the third quarter of 2023 increased by 976.03% year-on-year; Weir announced that the net profit in the third quarter was 215 million yuan, a year-on-year increase of 279.61%.

16. Wuliangye announced that its net profit in the third quarter increased by 18.57% year-on-year; Yanghe announced that the net profit in the third quarter was 2.34 billion yuan, a year-on-year increase of 7.46%.

17. BBK announced that the court ruled to accept the reorganization of the company and will implement a delisting risk warning.

18. The company announced that some directors, supervisors, senior executives and core personnel plan to increase their holdings by 200 million to 400 million yuan.

19. Hongxin Electronic announced that it plans to invest in the construction of Suihong green computing power ecological project, with a total investment of more than 7 billion yuan.

20. The three major U.S. stock indexes closed mixed on Friday, with the Dow down 1.12%, the Nasdaq up 0.38%, and the S&P 500 down 0.48%. Most of the large technology stocks rose, Amazon rose more than 6%, most of the popular Chinese concept stocks rose, and the Nasdaq China Golden Dragon Index rose 0.08%. WTI crude oil futures for December delivery settled up 2.80% at $85.54 a barrel on Friday.

21. The core PCE price index in the United States in September rose by 3.70% year-on-year, hitting a new low since May 2021, with an expected 3.70% and a previous value of 3.90%. The core PCE price index in the United States rose by 0.3% month-on-month in September, with an expectation of 0.30% and a previous value of 0.10%.

22. A spokesman for Israeli Prime Minister Benjamin Netanyahu's office said that Israel "resolutely rejects" a ceasefire, and that Israeli forces do not plan to stay in the Gaza Strip for a long time and will withdraw after "guaranteeing the defeat of Hamas".

【Investment Calendar: Monday Capital Market Event Reminder】

(1) A total of 2 new shares were subscribed today, namely Lianyu shares (001326) on the Shenzhen Main Board and Meixin Yishen (873833) on the Beijing Stock Exchange.

(2) The CSI All-Index Pharmaceutical Index is revised, with the weights of traditional Chinese medicine, chemical drugs and biological drugs being 38%, 47% and 15% respectively, and the revision will be implemented on October 30.

(3) In the second batch of STAR 100 ETFs, ChinaAMC Fund and SSE STAR Market 100 ETF under E Fund will be launched on October 30.

(4) The 8th Hong Kong FinTech Week will be held from October 30 to November 5.

(5) Apple announced that it will hold an online product launch event called Scary Fast on October 30 local time (8 a.m. Beijing time on October 31), and is expected to release a number of Macs, which may include iMacs and MacBook Pros with the latest M3 chips.

(6) Today, CITIC Securities, LONGi Green Energy, China Satcom and other stocks disclosed their third quarterly reports.

(7) 808 billion yuan of 7-day reverse repurchase expires today.

(8) Today, data such as the Eurozone economic sentiment index for October and Germany's GDP annualized rate for the third quarter will be released.

The following information sources are summarized and shared by Wall Street News:

According to Nikkei, the Bank of Japan may further adjust the policy framework of yield curve control (YCC) on Tuesday, allowing the yield of 10-year Japanese government bonds to exceed 1%. It is possible to implement Japanese debt operations more flexibly. USD/JPY plunged more than 60 points to 149.17 in the short term, extending the overall intraday decline to 0.3%.

[Copper mining company First Quantum Canada's share price plummeted 20% at one point, and its Panama copper mine faced a referendum] First Quantum Mining's Canadian share price (FM.CN) fell 20.06% to C$22.350, approaching the bottom of C$20.11 on September 7, 2022, the C$20 integer psychological mark, and the intraday low of C$18.675 on July 21 of that year. Earlier, the Panamanian government said it would hold a referendum on the Cobre Panama copper mine, one of the largest and newest in the world, built and operated by the company, to quell massive unrest.

[The S&P Nasdaq rose 1%, Google A, Netflix, and Tesla all rose more than 1%] The S&P 500 rose 1.0% in a day to 4158.60 points. All 11 sectors rose, the telecom sector is currently up 1.75% - the constituent stocks Google A rose 1.4%, Netflix rose rapidly to 1.6%, the optional consumer sector rose 1.59% - the constituent stocks Tesla rose 1.6%, the technology sector rose 1.07%, the real estate sector also rose more than 1.0%, the energy sector rose 0.6% to perform the "penultimate position", and the health sector also rose more than 0.4%. The fear index VIX fell 4.5% to 20.27. The Nasdaq Composite Index rose 1.0% on the day to 12,770.46.

[U.S. stocks at the beginning of the session: the China Concept Index rose more than 1%, Bilibili rose about 4%] The Dow rose 0.8%, the S&P 500 rose 0.7%, and the Nasdaq rose 0.77%. Chinese concept stocks rose, Xiaopeng Motors rose about 3%, iQiyi rose about 4%, and Baidu rose about 2%.

[German inflation rate fell to the lowest level since 2021, and the economy is struggling] At a time when the economy of Germany, Europe's largest economy, was struggling to sustain growth, its inflation slowed significantly in October, slowing faster than expected. According to the data, the preliminary harmonized CPI in Germany increased by 3% year-on-year in October, the lowest growth rate since June 2021. Economists had forecast a 3.3% increase. The data supports the ECB's claim that "unprecedented rate hikes are starting to bear fruit".

World Bank: Oil prices are expected to fall in 2024, but the conflict in the Middle East could push oil prices higher.

Global oil prices are expected to average $90 per barrel in the fourth quarter.

[ECB Governing Council member Simkus believes that there is likely no need to raise interest rates in December] ECB Governing Council Simkus: The ECB is likely not to need to raise interest rates at its last meeting this year.

If the new data is not surprising, then the current level of restrictions is sufficient.

There is no need for a rate hike at the moment, and we will have to wait and see what happens in the future. I hope there is no need for this.

Inflation is still high, and it's too high. It's too early to talk about a rate cut.

A rate cut in the first half of 2024 would be very unexpected.

We need strategic patience to keep interest rates at restrictive levels.

A soft landing in the eurozone is seen as a key scenario.

A rate cut in the first half of next year would be a big surprise to me, and I don't think it will be cut.

ECB Governing Council, President of the Central Bank of Slovakia Kazimir: If the data shows that it is necessary, the ECB is likely to tighten monetary policy further.

Price risk has not completely disappeared and vigilance must be maintained.

Betting on a rate cut in the first half of 2024 is a complete mistake.

ECB interest rates will remain high in the coming quarters.

It is too early to declare success in the fight against inflation.

The following information sources are summarized and shared by Gelonghui Information:

The emergency department in many places is full! Experts urgently warn that the younger you are, the greater the risk

According to Chinanews.com, fever, cough, sore throat... With the arrival of the high incidence season of respiratory infections in autumn and winter, many people report that they or their children have symptoms of respiratory tract infections. According to media sources, pediatric outpatient and emergency departments, fever clinics, and infusion rooms in hospitals in many places are crowded with patients. The reporter recently visited and found that the number of outpatient and emergency departments in many hospitals has increased to varying degrees, and some patients said that they had been queuing in the emergency department of the hospital for five or six hours. Children are the majority of patients, but there are also many adults, especially the elderly. In addition to the well-known mycoplasma pneumonia infection, influenza, and new coronavirus infection, it also includes bacterial infection, norovirus infection, etc. Experts remind that it is necessary to be vigilant against co-infection of Mycoplasma pneumoniae with adenovirus, Streptococcus pneumoniae and other pathogens that cause respiratory tract infections.

Iraqi militias claimed to have fired rockets that hit targets at military bases where U.S. troops were stationed

GRUNGHUI, Oct. 30 (Xinhua) -- Iraqi militia Islamist Resistance (Islami) said in a statement that rockets were fired at a U.S. military base near the Koniko gas field in northern Deir ez-Zor province in Syria and "directly hit" multiple targets within the base.

It is rumored on the Internet that there was a loud noise near Shenzhen Bao'an International Airport? Official: The airport is currently operating normally

Gelonghui, October 30丨According to Reading Special News, this evening, according to Weibo netizen "Yuntu Tutu" reported that there was a loud noise in Bao'an, Shenzhen. Subsequently, many netizens followed the post and said that they heard a loud noise and guessed that it was the sound of an airplane at Shenzhen Bao'an International Airport. The reporter called the official hotline of Shenzhen Bao'an International Airport, and the relevant staff said that at present, Shenzhen Bao'an International Airport is operating normally, and inbound and outbound flights are operating normally.

Iraqi militias claimed to have fired rockets that hit targets at military bases where U.S. troops were stationed

Foreign investors are selling Indian stocks quickly

On October 30, foreign investors sold shares in the Indian stock market at a rapid pace in the past week. According to data provided by Bloomberg, foreign investors sold Indian stocks with a total price of $768.4 million in one trading day on the 26th, the largest one-day net outflow of foreign capital since June 2022. From the 23rd to the 26th, a total of $1.2 billion flowed out of the Indian stock market. The foreign trading data for the 27th has not yet been released. Even so, the week has become the largest net outflow of foreign capital out of the Indian stock market since the beginning of February. According to Bloomberg's analysis, the rapid outflow of foreign capital out of the Indian stock market is mainly affected by the performance of several large software service exporters and several leading consumer companies in India that are less than expected. For example, the share prices of companies such as the Indian Tobacco Corporation fell after the release of their latest earnings reports. Shrikanth Chahan, an analyst at Kotak Securities, believes that in addition to the latest earnings report that makes foreign capital uneasy, the turmoil in the Middle East is also one of the reasons for the outflow of foreign capital.

Bank Q3 performance: the largest bank in the universe earns 1 billion a day

The results of several major banks in the third quarter of 2023 have basically been announced. In the third quarter, ICBC ranked first in the industry with a net profit of 94.929 billion yuan, earning 1.03 billion yuan per day; from the perspective of year-on-year growth, the highest growth rate was Agricultural Bank of China (up 7.76% year-on-year), and the Postal Savings Bank and Bank of Communications decreased year-on-year.

Q3 performance of liquor stocks: Moutai's net profit of 16.9 billion yuan is far ahead, and Gujing Gongjiu has the highest year-on-year growth rate

Gelonghui, October 30|The results of listed liquor companies in the third quarter of 2023 have basically been announced. Overall, Kweichow Moutai is still far ahead, with a net profit of 16.9 billion yuan in the third quarter, and accounting for about half of the entire industry. In addition, from the perspective of year-on-year range, the highest growth rate was Gujing Gongjiu (up 46.78% year-on-year), and only the alcoholic liquor showed a year-on-year decline (-77.65% year-on-year).

A-share closing comment: The three major indexes have risen for 3 consecutive days! The turnover of the two cities exceeded one trillion yuan, and the semiconductor and CRO sectors rose throughout the day

Gelonghui, October 30|The main A-share index continued to rise in the afternoon, as of the close of the three major indexes on the daily line of 3 consecutive yang, the Shanghai Composite Index closed up 0.12% at 3021 points, the Shenzhen Component Index rose 1.61%, and the ChiNext Index rose 2.48%. Nearly 3,700 shares rose in the two cities, with a full-day turnover of 1,038.1 billion yuan, exceeding one trillion yuan for the first time in two months, and a net sale of 2.398 billion yuan by northbound funds. On the disk, semiconductors and chips and other sectors were strong throughout the day, and many stocks such as Zhuosheng Micro had a daily limit; The CRO sector maintained its rally, led by Pharmaron; The consumer electronics sector broke out, and many shares such as Everbright Tongchuang had a 20cm daily limit; Innovative drugs, smart wearables and mixed reality and other sectors were among the top gainers. In addition, the automobile sector weakened, with Foton Motor falling more than 7%; The large financial sector fell collectively, with many stocks such as insurance, banks and brokerages falling by more than 4%; The outdoor camping sector fell, with Yayi Technology leading the decline; The public utilities sector fell, and the development of Shunkong fell to the limit; Sectors such as railways and highways, jewellery and auto parts were among the top decliners.

"Do not occupy the annual leave quota" ByteDance took the lead in announcing: Chinese New Year's Eve will be a unified holiday

Gelonghui on October 30丨According to poster news, ByteDance announced a unified holiday on Chinese New Year's Eve, and its office software "Feishu" calendar has shown that Chinese New Year's Eve is a "Spring Festival reunion holiday". ByteDance employees said that the company's announcement on the Chinese New Year's Eve holiday was issued at 13:00 on October 30, and the announcement also pointed out: "Among them, the additional Spring Festival reunion leave provided for the company on Chinese New Year's Eve does not occupy the annual leave quota." ”

Moderate to severe pollution has occurred in Beijing-Tianjin-Hebei and surrounding areas, and early warnings have been activated in many places

On October 30th, according to the national through train, from the 22nd, there was a fine particulate matter (PM2.5) pollution process in Beijing-Tianjin-Hebei and surrounding areas, and at present, the pollution level in the central and southern Beijing-Tianjin-Hebei and northern Henan has reached moderate to severe. Up to now, a total of 20 cities in the region have launched heavy pollution weather warnings to actively respond to the pollution process. The National Joint Center for Air Pollution Prevention and Control closely tracked the pollution process and organized a team of experts to analyze the pollution process. Since the 22nd, the meteorological conditions in Beijing-Tianjin-Hebei and surrounding areas have become unfavorable, and PM2.5 pollution has gradually accumulated. As of 8 o'clock on October 30, a total of 16 cities in Beijing, Tianjin, Hebei and surrounding areas have experienced a total of 32 days of moderate and above PM2.5 pollution. At present, the process of regional pollution is still developing.

Ministry of Finance: In September, a total of 52.774 billion yuan of lottery tickets were sold nationwide, an increase of 58.3% year-on-year

According to data released by the Ministry of Finance, in September, a total of 52.774 billion yuan of lottery tickets were sold nationwide, an increase of 19.442 billion yuan year-on-year, an increase of 58.3%. Among them, the sales of welfare lottery institutions were 18.213 billion yuan, an increase of 5.894 billion yuan year-on-year, an increase of 47.9%; Sports lottery agency sales of 34.561 billion yuan, an increase of 13.548 billion yuan year-on-year, an increase of 64.5%. Mainly affected by the Asian Games and other major events, instant lottery tickets on the market, new channel expansion and other factors, lottery sales increased rapidly over the same period last year.

Regulators encourage law firms to draft prospectuses, and the dominance of securities firms and investment banks in IPOs may weaken

According to 21 Finance, the China Securities Regulatory Commission and the Ministry of Justice jointly issued a revised version of the Administrative Measures for Law Firms Engaging in Securities Legal Business (hereinafter referred to as the "Administrative Measures"), which mentioned that law firms can organize the drafting of prospectuses. According to the analysis of the interviewed professionals, this means that in the future, the leading writer of the prospectus may gradually move from investment banks to law firms in line with international practice. In the process of leading the drafting of the prospectus, the investment bank can not only communicate with the regulator repeatedly, but also have an in-depth understanding of the company and maintain deep links. Some investment banks are worried that if the right to write the prospectus is transferred to the law firm, the close communication between the investment bank and the regulator and the enterprise may be weakened. However, in the eyes of investment banks and legal experts, although the prospectus in Europe and the United States is written by law firms, under the special national conditions of the mainland, it will take a certain amount of time for the lead writer of the prospectus to be transferred from investment banks to law firms.

The Bank of Japan may adjust its policy again to allow long-term yields to rise above 1%.

Gelonghui, Oct 30 (Reuters) -- The Bank of Japan (BOJ) will consider further adjustments to yield curve control (YCC) at its monetary policy meeting on Tuesday, which could allow Japan's 10-year government bond yield to rise above 1%, according to Nikkei. Against the backdrop of rising US interest rates, the yield on 10-year Treasury bonds is approaching 1%, so a second adjustment in three months seems necessary. The BOJ is also likely to be more flexible in its JGB purchases, which, along with a more flexible cap on the 10-year yield, is designed to discourage speculators from targeting the cap so that the BOJ does not have to buy large amounts of JGBs to keep interest rates below 1%. The depreciation of the yen may also affect the decision of the Bank of Japan.

The three major U.S. stock indexes all rose more than 1%, and the Nasdaq rose 1.5%.

The S&P Nasdaq rose 1%, Google A, Netflix, and Tesla all rose more than 1%

The S&P 500 rose 1.0% to 4,158.60 points on October 30. All 11 sectors rose, the telecom sector is currently up 1.75% - the constituent stocks Google A rose 1.4%, Netflix rose rapidly to 1.6%, the optional consumer sector rose 1.59% - the constituent stocks Tesla rose 1.6%, the technology sector rose 1.07%, the real estate sector also rose more than 1.0%, the energy sector rose 0.6% to perform the "penultimate position", and the health sector also rose more than 0.4%. The fear index VIX fell 4.5% to 20.27. The Nasdaq Composite Index rose 1.0% on the day to 12,770.46.

Hong Kong Monetary Authority: If "e-HKD" is launched in the future, it will be linked to the e-RMB

The Hong Kong Monetary Authority (HKMA) today released the "Report on the First Phase of the e-HKD" Pilot Scheme to discuss the results of the first phase of the Pilot Scheme. David Lee, Deputy Chief Executive of the Hong Kong Monetary Authority, said that the HKMA has not yet made a decision on whether and when to launch e-HKD, which will be linked to the e-CNY if it is launched in the future.

Ma Huateng said that the next 10 to 20 years is the key to China's scientific and technological development, and China's scientific and technological development needs to make breakthroughs from 0 to 1

Gelonghui, October 30 - Tencent-funded New Cornerstone Fellows today announced the second batch of grantees, with 46 outstanding scientists from 28 institutions in 13 cities becoming the new batch of "New Cornerstone Fellows". Among them, 21 are in the field of mathematics and physical sciences, and 25 are in biological and medical sciences. Pony Ma, Chairman and CEO of Tencent, said: "The next 10-20 years will be a critical period for China's technological development. In order to make a qualitative leap from quantitative accumulation to qualitative leap, it is inseparable from the breakthrough of basic research 'from 0 to 1'. That's why we support a group of outstanding scientists through the New Cornerstone Fellows Program to focus on basic research, focus on original innovations, respond to the needs of national development, and ultimately contribute to the improvement of human welfare." ”

China's official manufacturing PMI for October will be released on October 31

China's official manufacturing PMI for October will be released at 9:30 on October 31, with an expected reading of 50.4 and a previous reading of 50.2. China's official non-manufacturing PMI for October will be released at 9:30 on October 31, with an expectation of 52 and a previous value of 51.7.

A large number of Israeli tanks entered Gaza and advanced westward, approaching the transport hub connecting the various parts of Gaza

GLONGHUI, October 30 - Israeli army commanders say they are attacking the Gaza Strip with all-out force, and Israeli tanks have arrived on the outskirts of Gaza City. Hamas confirmed this information and said it had launched an attack on Israeli tanks. According to Al Jazeera, a large number of Israeli tanks have entered Gaza and are advancing westward, and are now close to the transport hub connecting various parts of Gaza. Once the Israeli army takes control of the area, the north and south of Gaza will be separated.

The internet information department is to investigate and deal with cases of "Quark" and "NetEase CC" violating the online ecology in accordance with law

According to the Cyberspace Administration of China, recently, in response to the destruction of the network ecology by the "Quark" platform and the "NetEase CC" live broadcast platform, the Cyberspace Administration of Guangdong Province instructed the Cyberspace Administration of Guangdong Province to interview the person in charge of the relevant platform in accordance with the law, imposed a fine of 500,000 yuan on the "Quark" platform, ordered "NetEase CC" to suspend the information update of the "Dance" section for 7 days, and ordered the two platforms to immediately make comprehensive and in-depth rectifications and seriously deal with the relevant responsible persons

Guangzhou Real Estate Agents Association: In October, the number and area of second-hand housing online signatures in Guangzhou increased by more than 4% year-on-year

According to the latest statistics released by the China Securities Taurus and the Guangzhou Real Estate Agents Association, in October 2023, the overall number and area of second-hand residential properties in Guangzhou were 9,361 and 952,200 square meters, respectively, an increase of 9.56% and 11.23% month-on-month, and a year-on-year increase of 41.28% and 43.38%. In October, the number of second-hand residential online signatures in Guangzhou expanded to 9.56% month-on-month. Guangzhou Real Estate Agents Association said that on the one hand, this is because some areas have optimized purchase restrictions, and some potential housing demand has been released, and on the other hand, because the VAT exemption period has been shortened from the original five years to two years, which greatly reduces the tax burden on the parties involved in the new housing transaction and improves the circulation efficiency of the new house.

The transaction volume of second-hand houses in Shenzhen rose by 12% month-on-month last week, and the industry expects the market to remain relatively stable in the later period

According to CSI Taurus, according to the statistics of Shenzhen Real Estate Agents Association, last week (October 23-29), the supply and demand of Shenzhen's second-hand housing market were booming, with 968 transactions (including self-service), up 12.4% month-on-month, and the volume of second-hand housing rebounded slightly. The Shenzhen Housing Association said that from the volume recorded for 3 consecutive weeks after the double festival, the market has stabilized at a certain level, and there has been no continuous decline in demand after the concentrated release, and it is expected that the market will remain relatively stable in the later period.

The U.S. military began to buy Japanese seafood

For the first time, the United States began buying Japanese seafood to supply U.S. forces stationed in Japan. The move, announced in an interview on Monday by Rahm Emanuel, the U.S. ambassador to Japan, said it would be a long-term contract between the U.S. military and Japanese fisheries and cooperatives. Less than a tonne of scallops were purchased for the first time, a tiny fraction of the more than 100,000 tonnes of scallops Japan exported to Chinese mainland last year. Emanuel said these purchases will increase to all kinds of seafood over time. These purchases will be supplied to the base canteen and the soldiers on board, and will also be sold in shops and restaurants at the military base. The U.S. is also negotiating with Japanese authorities to help ship locally caught scallops to U.S.-registered processors.

AutoNavi Map and Ali Public Welfare launched barrier-free navigation covering 30 cities

On October 30, AutoNavi Map and Ali Charity have launched barrier-free navigation in 30 cities, including Beijing, Shanghai, Hangzhou, Guangzhou, Shenzhen, Wuhan, Changsha, Jinan, Chengdu and Qingdao, becoming the first national barrier-free map navigation. In November 2022, with the support and guidance of the China Disabled Persons' Federation and the Zhejiang Disabled Persons' Federation, AutoNavi Map and Ali Charity jointly developed and launched the public welfare barrier-free navigation function, which can avoid steps and steep slopes when navigating, and give priority to planning routes with barrier-free facilities such as barrier-free elevators, which is especially convenient for wheelchair people to use, and is greatly welcomed by wheelchair people. Up to now, wheelchair navigation has provided 24 million barrier-free route plans for relevant people, and more than 1.57 million barrier-free route plans have been provided for users during the National Day Golden Week in 2023 alone.

Northbound funds increased their positions in Weir shares, JAC Motors and Zhuosheng Micro

On October 30th, northbound funds sold a net of 2.398 billion yuan of A shares today. China Merchants Bank, CITIC Securities, and Luxshare Precision were net sellers of 389 million yuan, 279 million yuan, and 245 million yuan respectively. Weir shares, JAC, Zhuosheng Micro and Mindray Medical received net purchases of 599 million yuan, 586 million yuan, 581 million yuan and 402 million yuan respectively.

Southbound funds increased their positions in SMIC by HK$563 million and Xiaomi by HK$590 million

On October 30th, Southbound funds bought a net of HK $2.247 billion in Hong Kong stocks today. In terms of Hong Kong Stock Connect (Shanghai), SMIC and Xiaomi Group-W received net purchases of HK$444 million and HK$434 million respectively; China Mobile had the largest net selling volume of HK$182 million, while Xiaomi Group-W and WuXi Biologics received net purchases of HK$165 million and HK$139 million respectively in Hong Kong Stock Connect (Shenzhen). Kuaishou-W was the largest net seller, with an amount of HK$383 million. According to statistics, southbound funds increased their positions in SMIC by HK $563 million and Xiaomi by HK $590 million today.

Toyota CEO "fires": boycotting electric cars is right Japanese cars must win

Akio Toyoda, CEO of Toyota Motor Corporation, recently said that the company's slowdown in sales proves that his resistance to electric vehicles is correct, and people finally see "the 'reality' of this technology". He said the automotive industry is realizing that electric vehicles are not the only way to reduce carbon emissions, and that "there are many ways to achieve carbon neutrality." In his opinion, automakers should continue to invest in hybrid vehicles instead of going all-in on electric vehicles. Akio Toyoda also said in an interview with the media that Japanese cars "must win" against Chinese cars.

Hong Kong stocks closed: The Hang Seng Index turned up at the end of the session, and the Hang Seng Index rose 1.27% Semiconductor stocks were strong

The Hang Seng Technology Index closed up 1.27% to hit a new high in recent rebounds, with the Hang Seng Index rising slightly by 0.04% and the HSCEI still falling 0.31%.

On the disk, large technology stocks generally rose to help the market rebound, Xiaomi rose 6%, Tencent, Meituan, NetEase all rose, and Kuaishou fell nearly 4%; Pharmaceutical stocks maintained a strong market throughout the day, medical beauty stocks and biomedical B stocks rose brightly, and Jianshi Technology once soared 70% intraday with the most eye-catching performance; Semiconductor stocks are strong, the leading SMIC rose more than 6% to hit a 6-month high, the global smartphone market fell only 1% in the third quarter, the mobile phone industry chain stocks rose sharply, and Qiu Ti Technology rose more than 11%.

On the other hand, the performance growth of state-owned oil companies slowed down in the third quarter, oil stocks fell, and PetroChina and CNOOC both fell by more than 3%; ICBC and ABC reported a decline in revenue in the third quarter, and the collective performance of domestic bank stocks was sluggish.

Tmall Double 11 hardcore new: the world's first "nuclear power bank" on Taobao

On Tmall Double 11, the national team of state-owned enterprises and central enterprises has launched a new batch of "big country heavy weapons" on Taobao: the world's largest diameter shaft boring machine, the world's largest tonnage bridge deck crane, the world's first 12,000-meter ultra-deep well automatic drilling rig, the world's first dry-jet wet-spun large tow product, and the world's first onshore modular small nuclear reactor "Linglong No. 1", known as "mobile nuclear power bank", and so on.

After the official store is put on the shelves, these big heavy weapons will also be "flashed" in the Taobao live broadcast room. According to the rules of this year's Double 11, these big countries will participate in cross-store full discounts or coupon discounts, adding a unique festive atmosphere to the national Double 11. Some netizens said that although they couldn't afford it, they still put it in the shopping cart as soon as possible, not for anything else, just this pride!

Russian Defense Minister Sergei Shoigu: If some necessary conditions arise in the future, the Russian side is willing to hold political discussions on issues such as resolving the Ukrainian crisis

According to China News Service, Russian Defense Minister Sergei Shoigu said at the first plenary session of the 10th Beijing Xiangshan Forum on October 30 that Russia is willing to openly discuss and resolve any issues in the field of security, but the premise is that the dialogue should be based on the principles of fairness, reciprocity and mutual respect.

Shoigu said that the Russian side has always been willing to openly discuss and resolve any issue in the field of security, but the premise is that the dialogue should be based on the principles of fairness, reciprocity and mutual respect. The West is trying to inflict a strategic defeat on Russia, and without a readjustment to this destructive policy, it is absolutely impossible to organize a fruitful dialogue in the field of security.

Shoigu also said that if some necessary conditions arise in the future, the Russian side is also willing to carry out political discussions on the basis of seeking truth from facts, including the settlement of the Ukrainian crisis and other issues. At the same time, as a permanent member of the UN Security Council, equal relations between Russia and the great powers should also be guaranteed.

ETF Closing Comments丨The power consumption sector led the gains, and the consumer electronics ETF rose more than 5%

As of the close, the Shanghai Composite Index rose 0.12%, recording five consecutive gains, the Shenzhen Component Index rose 1.61%, the ChiNext Index rose 2.48%, and the turnover of the Shanghai and Shenzhen markets was 1,038.1 billion yuan, returning to the trillion level after two months. More than 3,600 stocks rose in the two cities. Northbound funds sold a net of 2.397 billion yuan throughout the day. On the disk, semiconductors and components, CRO concepts, consumer electronics and other sectors were among the top gainers; Automobiles, banks and other sectors are green.

In terms of ETFs, the consumer electronics sector was among the top gainers, with ChinaAMC Fund Consumer Electronics ETF and China Merchants Fund Consumer Electronics ETF up 5.36% and 4.88% respectively. The chip sector rose sharply, with GF Fund chip ETF leader and Guolianan Fund semiconductor ETF rising 4.63% and 4.53% respectively. The innovative drug sector continued its recent gains, with GF Fund Hong Kong Innovative Drug ETF rising 4.43%.

Zhongzitou stocks weakened, with the central enterprise win-win ETF and the China state-owned enterprise ETF falling 2.53% and 2.07% respectively. Auto stocks were among the top decliners, with auto ETFs down 1.76%. The banking sector was sluggish, with the Bank ETF Preferably down 1.68%.

The Government of the Hong Kong Special Administrative Region (HKSAR) has promulgated the Northern Metropolis Programme of Action

According to the Voice of the Greater Bay Area, the Development Bureau of the Hong Kong Special Administrative Region Government announced the "Northern Metropolis Action Plan" on the 30th, and the new development land in the Northern Metropolis can provide more than 500,000 new residences, which is an important housing supply town in the future.

Huawei's nova new product launch event will be held on October 31, and the nova 11 SE will be released

At 10:08 a.m. on October 31, Huawei will hold a nova new product launch conference. At that time, Huawei will officially release the nova 11 SE. At present, this model has been opened for appointment on major e-commerce platforms. According to the disclosed specifications, nova 11 SE has three colors: No. 11 color, Yao Jin Black, and Snow White, equipped with HarmonyOS 4.0 system, and dual front and rear high-definition cameras.

Hubei: Promote the merger and reorganization of iron and steel enterprises in the province

According to the website of the Hubei Provincial People's Government, recently, the General Office of the Hubei Provincial People's Government issued a notice on printing and distributing the implementation plan for the transformation and upgrading of the metallurgical industry in Hubei Province (2023-2025). The notice mentioned that the merger and reorganization of iron and steel enterprises in the province should be promoted. Support leading enterprises such as Wuhan Iron and Steel Co., Ltd., Echeng Iron and Steel, and Hubei Jinshenglan, and make use of the advantages of technology, capital, and brand to implement cross-regional, cross-ownership, and cross-industrial chain upstream and downstream mergers and acquisitions of long product enterprises in the province in accordance with laws and regulations. By the end of 2025, the top four iron and steel enterprises in the province will account for more than 80% of their production capacity.

Evergrande must submit a restructuring plan before December 4, otherwise it may be liquidated

China Evergrande (3333) announced that the High Court of Hong Kong has further postponed the hearing of the winding-up petition to December 4 on October 30. Evergrande has been subject to a winding-up petition in Hong Kong by investors for failing to perform its VAM agreement in relation to the listing of its RV Bao, and has previously postponed the winding-up hearing several times pending the implementation of the company's debt restructuring plan.

Hong Kong High Court Judge Chan Ching-fan said in court that Evergrande's next winding-up hearing will be the last before the court decides whether to make a winding-up order. Evergrande needs to submit a specific revised restructuring plan before that date, otherwise the company may be liquidated. She said liquidators could still negotiate a restructuring with creditors and make progress on the agreements reached.

HSBC: Q3 pre-tax profit of property speculation business fell 6.83% year-on-year

HSBC Holdings (0005.HK) announced that its profit before tax at a fixed exchange rate in the third quarter was US$7.714 billion, an increase of 1.47 times year-on-year. Among them, the pre-tax profit of global banking and capital markets (commonly known as property speculation) at fixed exchange rate was US$1.324 billion, down 6.83% year-on-year. The pre-tax profit of wealth management and personal banking business was US$2.777 billion, an increase of 23.58 times year-on-year, and the pre-tax profit of industrial and commercial banking business was US$2.848 billion, an increase of 35.62% year-on-year. Corporate Center pretax earnings were $765 million.

The potential supply of first-hand private residential units in Hong Kong in the next three to four years is 107,000 units

The Housing Bureau of the Hong Kong Special Administrative Region (HKSAR) announced today that the potential supply of first-hand private residential units in Hong Kong in the next three to four years is 107,000 units, an increase of 2,000 units quarter-on-quarter.

Big Morgan bears: The probability of a rebound in U.S. stocks fell sharply in Q4

Michael Wilson, chief investment officer of Morgan Stanley, one of Wall Street's most prominent bears, said the likelihood of a rebound in the S&P 500 in the fourth quarter "dropped significantly." Wilson maintained the S&P 500's long-term year-end target at 3,900, while strategists forecast a median of 4,435. He believes that monetary and fiscal policy (of the Fed) is unlikely to ease the pressure on the stock market and is likely to tighten further, as the strength of the headline employment data masks headwinds for ordinary businesses and households. "This is one of the reasons why the broader market continues to show significant weakness. While some may interpret this as a bullish signal, i.e. an oversold condition, we believe this is more a reflection of our view that earnings are still at risk for most companies against the backdrop of a late (tightening) cycle. ”

National Energy Administration: It is expected that the maximum load in the country during the peak winter may increase by 140 million kilowatts compared with the same period last year

Zhang Xing, spokesman of the National Energy Administration, said at the press conference today that from the latest data available so far, the power supply guarantee in the peak winter is generally guaranteed, and some parts are facing certain pressure. Since the second half of the year, the year-on-year growth of electricity demand has accelerated, and the electricity consumption of the whole society in September increased by 9.9% year-on-year, and it is expected that the maximum load in the country during the peak winter may increase by 140 million kilowatts compared with the same period last year, showing a significant increase. It is expected that the power supply of the whole country will be guaranteed during the peak winter, but some provinces in the northwest, east China, southwest and south regions will have greater pressure on power supply, among which there is a certain power gap in Yunnan and a certain power gap in Mengxi. In addition, there are uncertainties about extreme weather, water supply in major river basins and fuel security in some areas.

Many Wall Street banks expect the U.S. Treasury to issue $1.5 trillion in net Treasury bonds in the next two quarters

According to Dow Jones' news website Market Watch, the U.S. Treasury Department will announce its bond issuance plan for the next three months on November 1. JPMorgan Chase & Co. and Deutsche Bank expect the U.S. Treasury to issue about $1.5 trillion in net Treasury debt in the fourth quarter of this year and the first quarter of next year. Among them, JPMorgan Chase expects a net offering size of $800 billion in the fourth quarter of this year and $698 billion in the first quarter of next year. The investment bank Jefferies expects the net issuance of Treasury bonds in the next two quarters to be close to $1.4 trillion. In addition, JPMorgan Chase said in a report last week that it expects the U.S. fiscal balance gap to remain large in the next few years, and in the short term, the U.S. Treasury will continue to rely on the issuance of short-term Treasury bonds to cover the government's fiscal deficit, but this is not sustainable, and it is expected that the proportion of short-term Treasury bonds may rise to 22% by the end of this year.

Pig prices have been falling endlessly, and the price of slaughtered pigs has begun to fall to 14 yuan/kg

According to the China Feed Industry Information Network, pig prices continued to fall rapidly over the weekend, and the price of slaughtered pigs has fallen below 14.5 yuan/kg and began to decline to 14 yuan/kg. There is no sign of controllable and stable swine disease, and regional supply is still increasing; The consumer side is difficult to have a significant increase in the short term, and the weekend effect has not been driven, and the situation of oversupply is difficult to change. Pig prices continued to fall, and the resistance of the breeding end increased, but the consumption was weak, and the short-term pig prices stopped falling and rebounded.

Goldman Sachs: S&P 500 index target point of 4500 points at the end of the year The deterioration of the economic growth outlook may provide a buying opportunity

Goldman Sachs said that the market has become more pessimistic about the outlook for U.S. economic growth, and if this situation continues, it may provide opportunities to enter the market. Goldman Sachs strategist David Kostin's team issued a report saying that cyclical stocks performed poorly in October, indicating concerns that the recent tightening of financial conditions will hinder economic growth. But at the same time, Goldman Sachs believes that the U.S. economy will remain relatively resilient, so companies in sectors such as financial services, semiconductors and materials are likely to still perform relatively well. Kostin expects the S&P 500 to reach 4,500 by the end of the year, slightly above the average expectation of market strategists at 4,370. The Goldman Sachs strategist report mentioned that although the bank expects the headwinds on the discount rate and balance sheet to persist, it sees a further sharp downward revision of the growth outlook as a buying opportunity.

Drought is expected to push up sugar prices in Thailand

Gelonghui, Oct. 30 (Xinhua) -- Refined sugar prices in Thailand may soon rise as sugarcane prices rise due to drought, leading to higher production costs, according to market sources. A source from the Sugarcane and Sugar Council revealed that the country's refined sugar ex-factory price trend is 4 baht per kilogram, which could happen this month. According to the source, if the Sugarcane and Sugar Commission Office decides to raise it by another 4 baht, this will lead to an ex-factory price increase of 23 baht per kilogram for granulated sugar and 24 baht per kilogram for refined sugar. The retail price of granulated sugar and refined sugar will also be raised to 28 baht and 29 baht per kilogram, respectively. Earlier, the Thai Sugarcane Growers Association reported that sugarcane production in 2023/2024 could fall to 80 million tonnes, down about 10 percent from the previous season's estimated output of 94 million tonnes, due to water shortages in the main producing areas. The country's sugar exports are expected to fall to 6 million tonnes by 2024 from 8 million tonnes this year.

Economic Daily: What does it mean to raise the deficit ratio?

According to the Economic Daily, the deficit ratio increased by only 0.8 percentage points to 3.8 percent after the issuance of additional treasury bonds, according to the Economic Daily. In terms of debt ratio, that is, the proportion of the national government debt balance to GDP, it has been controlled at about 50% in recent years, and even after the issuance of additional government bonds, it has only risen slightly. It should be said that the mainland's fiscal deficit ratio and government debt ratio are relatively low among the world's major economies, and the arrangement for issuing additional treasury bonds is necessary and feasible, and the debt risk is generally controllable. The main purpose of the additional issuance of treasury bonds is to support post-disaster recovery and reconstruction and to enhance disaster prevention, mitigation and relief capabilities.

Evergrande's winding-up hearing was adjourned to December 4

According to the latest news, the hearing of Evergrande's Hong Kong winding-up petition was adjourned to December 4, and the judge said it was the last adjournment. Evergrande has been subject to a winding-up petition filed in Hong Kong by investors for failing to fulfill its VAM agreement in relation to the listing of its RV Bao, and has previously postponed the winding-up hearing several times pending the implementation of the debt restructuring plan.

Yunnan: Vigorously support the development of open-pit coal mines

The General Office of the People's Government of Yunnan Province recently issued the "Three-Year Action Plan for the High-Quality Development of the Coal Industry in Yunnan Province (2023-2025)", which mentions accelerating the release of advanced production capacity of open-pit coal mines, supporting the expansion of open-pit coal mines and nuclear capacity increase. Support open-pit coal mines that meet the conditions for capacity verification to increase production capacity according to their actual production capacity。 Accelerate the implementation of underground coal mines with the conditions to implement open-pit mining. Moderately start some new coal mine projects ahead of schedule, optimize the design service life of coal mine projects, and for some projects with good resource ticketing conditions, large working face yields, and suitable for the construction of large-scale intelligent coal mines but with small resources, the service life can be appropriately reduced after demonstration, and the service life can be at least not less than 30 years.

Yunnan: From 2023 to 2025, we will strive to release about 10 million tons of new coal production capacity every year

The General Office of the People's Government of Yunnan Province recently issued the "Three-Year Action Plan for the High-Quality Development of the Coal Industry in Yunnan Province (2023-2025)", which mentions that the supply guarantee capacity has been significantly improved. Intensify the exploration of coal resources and enhance the ability to guarantee coal supply. From 2023 to 2025, we will strive to increase the annual coal production capacity by about 10 million tons, and the raw coal output will reach 71 million tons in 2023, 80 million tons in 2024, and 90 million tons in 2025.

E Fund SSE STAR Market 100 ETF (588213) was launched today

Gelonghui, October 30th|E Fund SSE STAR Market 100 ETF (subscription code: 588213) and other 3 ETFs tracking the SSE STAR Market 100 Index were officially launched today. The SSE STAR Market 100 Index selects 100 securities with medium market capitalization and good liquidity as index samples from the STAR Market, reflecting the overall performance of mid-capitalization securities on the STAR Market. Pang Yaping, General Manager of the Index Research Department of E Fund, said that in the context of accelerating the development of high-level scientific and technological self-reliance and self-reliance, the SSE Science and Technology Innovation Board 100 ETF can provide investors with more diversified investment tools for the index of the Science and Technology Innovation Board to help investors grasp the growth opportunities of enterprises on the Science and Technology Innovation Board.

Guangxi included IVF in medical insurance

According to the website of the Guangxi Zhuang Autonomous Region Medical Security Bureau, the Notice of the Autonomous Region Medical Insurance Bureau, the Autonomous Region Human Resources and Social Security Department and the Autonomous Region Health Commission on Including Some Therapeutic Assisted Reproduction Medical Services into the Payment Scope of Basic Medical Insurance and Work-related Injury Insurance Funds was officially released a few days ago. The "Notice" proposes to include some therapeutic assisted reproductive medical services such as "egg retrieval" into the scope of payment of basic medical insurance and work-related injury insurance funds. When the insured persons enjoy the basic medical insurance treatment, there is no fund payment standard, and the reimbursement ratio of basic medical insurance for employees and basic medical insurance for urban and rural residents is 70% and 50% respectively, which is included in the maximum annual fund payment limit of the insured personnel. The notice will take effect on November 1, 2023, and if the state and autonomous regions have new provisions, follow those provisions.

Surpassing the euro, the renminbi rose to second place in global trade finance

According to data from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), in September this year, the renminbi surpassed the euro in global trade finance, ranking second in the world. As shown in the chart accompanying this article, in September 2023, the renminbi accounted for 5.8% of global trade finance in terms of value, surpassing the euro's share of 5.43%. Not only that, the share of RMB in global trade finance has increased rapidly since the beginning of 2022, and in September 2023, it has already tripled from January 2022. However, the US dollar still leads all currencies in trade finance, with the ratio at 84.15% in September 2023.

The G7 will today agree on a code of conduct for open AI

The Group of Seven (G7) will agree on a code of conduct for companies developing advanced artificial intelligence (AI) systems on Monday, a document shows, as governments seek to mitigate the risks and potential misuse of the technology. The document shows that this voluntary code of conduct will be an important milestone in the management of AI in a number of major countries, given the privacy and security risks that AI may pose.

List of Pension Stocks Held on the Science and Technology Innovation Board: Pumen Technology Won 4.81% of the Pension Shares

Gelonghui, October 30|The pension fund appeared in the list of the top ten circulating shareholders of 14 science and technology innovation board stocks, with a total of 48.3451 million shares and a total market value of 1.534 billion yuan at the end of the period. The changes in shareholdings show that 6 new stocks were added, 3 were increased, 3 were reduced, and 2 stocks remained unchanged. In the latest list of pension stocks, the largest proportion is Pumen Technology, with a shareholding ratio of 4.81% of the outstanding shares, followed by Jinghe Integration and Yubang Power, with pension shareholding ratios of 2.65% and 2.59% respectively. In terms of the number of shares, the top pension holdings are Pumen Technology, Jinghe Integration, and Yubang Power, with 20,502,200 shares, 9,384,900 shares, and 4,685,600 shares respectively. The top pension holdings are Pumen Technology, Xinmai Medical, and Aerospace Hongtu, with a market value of 439 million yuan, 192 million yuan, and 161 million yuan respectively.

OCT A: A vehicle collision occurred in the "Snow Eagle" project of the roller coaster in Happy Valley, Shenzhen, and a total of 17 tourists continued to stay in the hospital for treatment or observation

On October 27, a vehicle collision occurred in the "Snow Eagle" project of the Happy Valley roller coaster in Shenzhen. Shenzhen Happy Valley quickly activated the emergency mechanism and sent 8 injured tourists to the hospital for treatment as soon as possible; Subsequently, the rest of the tourists on the scene were organized to go to nearby hospitals for examination and treatment; At the same time, a special escort team was immediately set up to rush to the hospital to accompany the injured. Up to now, a total of 17 tourists continue to stay in the hospital for treatment or observation, and all of them are in stable condition and are not life-threatening. In order to actively cooperate with the urban joint investigation team to carry out the accident investigation, and comprehensively carry out the investigation and rectification of potential safety hazards of amusement facilities, Shenzhen Happy Valley has suspended the opening of the park since October 28, and the resumption of the opening time is subject to the opening notice issued by Shenzhen Happy Valley.

CICC: The Federal Reserve is not expected to raise interest rates this week

Gelonghui, October 30 - The Federal Reserve is not expected to raise interest rates this week, and Powell may release a neutral attitude, emphasizing that the fight against inflation is not over, but also hinting that there is no rush to raise interest rates again. History shows that the fourth quarter is often a period of high financial risks: in the fourth quarter of last year, market financial conditions were once tightened due to the turmoil in British government bonds, and the Federal Reserve lowered the pace of interest rate hikes from 50bp to 25bp; In the fourth quarter of 2019, there was a liquidity turmoil in the U.S. Treasury market, and the Federal Reserve stopped QE and re-expanded its balance sheet. In the fourth quarter of 2018, the Fed's insistence on raising interest rates caused a panic in the market, and the US stock market plummeted, and then Powell released a dovish signal that policy can be pivoted at any time, and market sentiment eased. In retrospect, the last rate hike in December of that year was unnecessary, and the Fed made the mistake of overtightening. Against the backdrop of still-high inflation, intensifying geopolitical conflicts, and tightening financial conditions, the Fed may choose to balance risks and emphasize patience to avoid repeating the over-tightening mistakes of 2018.

Analysts expect China's GDP growth to pick up further in the fourth quarter

Gelonghui, October 30 - According to a number of analysts quoted by the Economic Information Daily, China's macro economy is expected to continue to rebound at the end of this year and early next year as the steady growth policy continues to exert force. Wang Qing, chief macro analyst of Oriental Jincheng, said that in order to cooperate with the large-scale issuance of government bonds in the fourth quarter, the central bank may provide additional liquidity support before the end of the year. Driven by the policy, it is expected that the GDP growth rate in the fourth quarter is expected to further rebound, promoting the completion of the annual growth target of about 5.0%. Considering that at least in the first half of next year, the policy of stabilizing growth will continue to be effective, and the macro economy is expected to continue to run on a medium-to-high-speed growth track in 2024, and the endogenous growth momentum of the economy will be further repaired next year.

Gelonghui October 30|International News:

1. Reminder of this week's events;

2. The Dow Jones closed down 1.12% on Friday, and most of the large technology stocks rose;

3. Spot gold touched $2,000 per ounce for the first time in May, and the Kazakh conflict boosted the attractiveness of safe-haven assets;

4. The situation in the Middle East is tense again, and WTI December crude oil futures closed up 2.8%;

5. The core PCE price index in the United States rose 3.7% year-on-year in September, hitting a new low since May 2021;

6. Many European countries began to implement winter time, and stock market trading was delayed by 1 hour;

7. Bears exit emerging markets ETF bearish bets fell to a 17-year low;

8. The Argentine stock index fell by more than 18% last week;

9. The United Nations General Assembly voted overwhelmingly to approve the draft resolution on the Palestinian-Israeli issue, and the United States and Israel voted against it.

10. The Bank of Japan will hold a meeting this week to discuss whether to revise the yield curve control policy again;

11. Detroit's three major car companies are willing to raise wages for workers by 25%, which is expected to end the U.S. auto industry strike;

12. Google pledged $2 billion in funding to AI startup Anthropic;

Greater China News:

1. Wang Yi and Blinken held talks, and the two sides agreed to work together to realize the San Francisco summit between the two heads of state.

2. Chinese airlines were approved to increase the number of flights between China and the United States, and the fares of China-US routes were "cut in half";

3. Last week, the total share of stock ETFs increased by 20.9 billion shares, with a net inflow of about 17.2 billion yuan;

4. The Social Security Foundation held the 2023 Symposium for Domestic Investment Managers: A-shares have entered the window period of long-term allocation value;

5. Social Security Foundation: Give full play to the role of institutional investors and long-term funds to grasp investment opportunities while serving the implementation of national strategies and helping the steady development of the capital market;

6. 100 billion private equity Jinglin voiced: in terms of A-share and Hong Kong stock investment, we are optimistic about three types of opportunities;

7. IFF report: China's economy is expected to grow by 5.2% and 5% this year and next year

8. The Political Bureau of the CPC Central Committee deliberated on the opinions on further promoting the comprehensive revitalization of Northeast China;

9. China Index Research Institute: In the first three quarters, the number of foreclosure houses listed for auction in the country reached a new high of 584,000 units, and the transaction rate was not as high as that of the same period;

10. Hong Kong property prices may fall by 5% this year, the first time since 2002 that they have fallen for two consecutive years;

11. Guangzhou is the first first-tier city to propose a housing ticket resettlement policy;

12. Fund managers are optimistic about the value of liquor stocks, and Hou Hao, the "first brother of liquor": the valuation of the liquor sector has entered the cost-effective range;

13. The fuel surcharge for air tickets will be reduced by 20 yuan for routes over 800 kilometers;

14. The People's Bank of China: Actively promote the establishment of foreign-related mobile payment business and the domestic use of overseas e-wallets;

15. This week, the market value of A-shares was lifted to more than 123 billion yuan, and the leading brokerages accounted for more than half;

16. A-shares welcomed the tide of 100 billion buybacks this year, analysts: the bottom of the market has obvious characteristics;

17. Northbound funds increased their positions in A shares for the second consecutive day;

18. Xinhua Insurance: net profit loss of 436 million yuan in the third quarter;

19. EVE: The current round of destocking cycle is likely to be over;

20. The M7 model was set to break 70,000 units within 45 days of its launch;

21. Deguan New Materials (001378.SZ) was listed today;

22. Announcement Highlights - Shengxin Lithium Energy: net profit of 1.095 billion yuan in the first three quarters, down 74.83% year-on-year; Oriental Wealth: net profit in the third quarter was 1.984 billion yuan, down 7.73% year-on-year

The following information sources are summarized and shared by Yingwei Financial Information:

Goldman Sachs: The focus of U.S. stocks has shifted to the outlook for economic growth, and cyclical stocks can be bought on dips

By Senad Karaahmetovic Stock Market

Published on October 30, 2023 at 20:12

NDX

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Investing Investing.com Investing.com - The S&P 500 typically falls 4% when Treasury yields rise more than two standard deviations in a month to two months, Goldman Sachs equity strategists noted in a note to clients.

However, the analyst also wrote that "when yields stop rising, the pressure on equities usually eases".

At the same time, the impact of rising US Treasury yields on the stock market depends on the dynamic relationship between expectations for economic growth, discount rates, and corporate balance sheets.

Among them, the Russell 2000 index is particularly sensitive to changes in the growth outlook, while the Nasdaq 100 index is more sensitive to changes in the discount rate, but the level of leverage is lower.

Investors' attention has been focused on valuations and leverage since August, but more recently, the focus has shifted to growth prospects.

"We expect headwinds to persist on valuations and balance sheets, but see a further sharp downward revision to the growth outlook as a buying opportunity."

"As such, we remain cautious on long-term and highly leveraged stocks, but believe investors should see the sell-off in cyclicals as a buying opportunity."

5 major events in today's financial market: Dow futures rose about 200 points, and HSBC expanded its repurchase scale by $3 billion

By Scott Kanowsky Finance

Published on October 30, 2023 19:25

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MDLZ

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Investing.com Investing.com - Here are 5 things to know about the financial markets on Monday, October 30:

1. U.S. stock index futures rose, and the market waited for a large number of blockbuster economic events this week

U.S. stock index futures rose in pre-market trading on Monday (30th), while the market will usher in blockbuster events such as the Federal Reserve's interest rate decision, important corporate results and non-farm payrolls data this week.

As of 19:18 Beijing time (07:18 a.m. ET), blue-chip Dow futures were up 195.4 points, or 0.60%, S&P 500 futures were up 28.6 points, or about 0.70%, and tech-heavy Nasdaq 100 futures were up 113.6 points, or 0.80%, as of 19:18 Beijing time (07:18 a.m. ET).Investing.com

Recently, a sharp rise in US Treasury yields has triggered a decline in US stocks, especially technology stocks. However, for now, the market's attention turns to the Fed's latest monetary policy statement on Wednesday, with most traders expecting the Fed to signal that this year's rate hikes are over after a surge in US Treasury yields.

2. Apple will release its earnings report

Investors will also need to keep an eye out for quarterly reports from a number of major US companies this week, including tech giant Apple (NASDAQ:AAPL), which will report earnings on Thursday. Apple shares are now down 15% from their 52-week highs.

Investors are concerned that Apple's business in China could come under increasing pressure due to increasing competition from rival Huawei. However, these headwinds are expected to be offset by stronger demand for services.

In addition, consumer stocks are also expected to be in focus, with fast-food giant McDonald's (NYSE:NYSE:MCD) reporting on Monday, construction machinery and equipment maker Caterpillar (NYSE:NYSE:CAT) and drugmaker Pfizer (NYSE:NYSE:PFE) reporting on Tuesday, food company Mondelez (NASDAQ:MDLZ) reporting on Wednesday, Starbucks (NASDAQ:SBUX) and pharmaceutical company Eli Lilly (NYSE: NYSE:LLY) will report earnings on Thursday.

3. Oil prices fell despite Israel's ground offensive into Gaza

Oil prices fell on Monday amid a cautious market ahead of the Federal Reserve's policy meeting and key economic data.

As of 19:18 Beijing time (07:18 a.m. EST), the Investing.com commodity market showed that the price of WTI crude oil futures in the United States fell 1.40% to $84.34 per barrel; Brent crude futures fell 1.19% to $88.11 a barrel.

U.S. oil and Brent oil rose 3% on Friday as Israel began its ground assault on Gaza, but oil prices fell last week as there was little indication that the conflict would expand into a broader regional war.

In addition to the situation in the Middle East, investors should also pay attention to the US non-farm payrolls report for October, which will be released on Friday. In September, the number of new non-farm payrolls in the United States was a staggering 336,000, and economists now expect the number of new jobs to fall to 182,000 in October, although it still indicates a positive labor market.

4. HSBC announces a new round of share buybacks

HSBC announced an additional $3 billion share buyback program, bringing HSBC's total shareholder return to $7 billion this year. The trip said the company had benefited from high interest rates.

HSBC's pre-tax profit for the third quarter was $7.7 billion, below analysts' expectations of $8.1 billion but up from $4.5 billion a year earlier, according to the earnings report. Revenue also increased by 40% to $16.2 billion.

Group chief executive officer Noel Quinn noted in a statement that the group "has delivered broad-based growth across all businesses and geographies, supported by an interest rate environment."

He also added that HSBC will continue to monitor the risks associated with the liquidity crisis in China's property sector. Currently, HSBC has a total loan loss provision of US$1.1 billion, of which US$500 million is related to China's commercial real estate portfolio.

5. Evergrande gives a deadline for a new restructuring plan

A Hong Kong court allowed China Evergrande to postpone the winding-up hearing until December 4 to come up with an agreement to appease creditors or face winding-up. At the same time, the court said it was the last postponement.

Evergrande has long been the epitome of the crisis in China's real estate sector. Evergrande's latest $23 billion offshore debt restructuring plan was canceled after the company's founder, Xu Jiayin, was investigated for alleged criminal activity. Currently, Evergrande faces more than $300 billion in debt.

A lawyer for Evergrande noted that the company now aims to "monetise the value" of its Hong Kong-listed real estate services business and electric vehicle division, saying it would help avoid possible regulatory issues.

Big Mo: The S&P 500 could fall to 3,900 points by the end of the year

By Senad Karaahmetovic Stock Market

Published on October 30, 2023 19:54

SPY

+0.43%

Investing Investing.com Financial Intelligence - Morgan Stanley, a well-known Wall Street friend, believes that the probability of a rebound in the S&P 500 in the final quarter has been "substantially" reduced.

They point out that the narrower breadth of the market, the cautious attitude of the leading companies, the downward revision of earnings, and lower consumer and business confidence all tell a different picture from the consensus expectation of a year-end rebound due to bearish sentiment and seasonal factors as we approach the end of the year.

"In our view, the fundamental setting for this year is different than in the past, and earnings expectations for the fourth quarter and 2024 remain too high, even in good economic conditions," the analysts wrote in the note.

Morgan Stanley stuck to its year-end target of 3,900 points for the S&P 500, well below the consensus median of 4,435 points. Last Friday (27th), the S&P 500 index closed at 4117.37 points.

Analysts also note that monetary and fiscal policy is unlikely to ease the situation and may even tighten financial conditions further. They argue that the strength of the overall labor profile masks the challenges faced by the average company and household.

"This is one reason why the depth of the market continues to weaken significantly," they added. While some may see this as a bullish signal – that is, oversold – we think it is more of a reflection of our view that we are still in a late-cycle situation where earnings for most of these companies are still at risk."

Overall, the analysts' conclusion is that "the price action at the end of the S&P 500 is more likely to depend on how the average stock is trading than because the depth of the market typically leads the price and the performance moves to a higher level."

5 major events in the financial market this week: FOMC meeting, Apple's earnings report, and the U.S. non-farm payrolls are coming!

By Noreen Burke Finance

Published: October 30, 2023 13:29

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Investing Investing.com Financials – Financial markets have been buzzing this week, with the results of the Federal Reserve's interest rate meeting, U.S. non-farm payrolls, and Apple's earnings reports all in quick succession, which could point the way for the stock and bond markets for the rest of the year.

Here are 5 things to watch in the financial market this week:

1. The Federal Reserve interest rate meeting was unveiled, and it is expected to be held still

The Federal Reserve will announce the results of its monetary policy meeting on Wednesday local time, and it is expected to be on hold.

Fed Chair Jerome Powell previously said that rising long-end bond yields reduced the need for further rate hikes, followed by most investors betting that the Fed has ended its tightening, although a small number believe that the Fed will raise interest rates again at its December meeting.

At the same time, the impact of the meeting results on the U.S. bond market is also expected to receive high-end attention. U.S. Treasury yields climbed to their highest level in more than 15 years last week, triggering a sell-off in the S&P 500.

The S&P 500 has fallen more than 10% since hitting its year-to-date high in late July, but is still up nearly 8% year-to-date.

2. The non-farm payrolls data is expected to fall back soon

The most important economic data of the week is the October non-farm payrolls report on Friday. After a surge of 336,000 jobs in September, economists expect job growth to be more modest to 182,000, although the data still points to a strong labor market.

The unemployment rate is expected to remain at 3.8%, while year-on-year wage growth is expected to slow to 4%, the lowest post-pandemic point. If the actual data is in line with expectations, it could help support the Fed's view that price pressures are easing.

Ahead of Friday's non-farm payrolls data, investors can also pay attention to the third-quarter employment cost data released on Tuesday (31st) to see if there are signs of slowing wage growth.

3. Apple, McDonald's, and Starbucks will report financial results

Apple (NASDAQ:AAPL), the world's largest company by market capitalization, will report earnings on Thursday. Since the beginning of this year, Apple, along with other big tech stocks, has driven the U.S. stock market higher.

However, the Q3 earnings season for some of the big tech stocks announced earlier was not as good as it could be, with shares of Google's parent company Alphabet (NASDAQ:GOOGL) and Tesla (NASDAQ:TSLA) plummeting after their respective earnings reports. The tech-heavy Nasdaq 100 is down 11% from its high, but is still up nearly 30% year-to-date.

In addition to technology stocks, consumer stocks are also expected to be in focus. On Monday (30th), McDonald's (NYSE:MCD) will report earnings, Caterpillar (NYSE:CAT) and Pfizer (NYSE:PFE) will report earnings on Tuesday, Mondelez (NASDAQ:MDLZ) will report earnings on Wednesday (November 1), and Starbucks (NASDAQ:SBUX) and Eli Lilly (NYSE:LLY) will report earnings on Thursday (November 2).

4. The Bank of England will announce its interest rate decision

The Bank of England will hold its penultimate meeting of the year on Thursday, when officials will need to decide whether to resume raising interest rates. Previously, after 14 consecutive rate hikes, the Bank of England left interest rates unchanged in September.

Investors expect the Bank of England to keep interest rates unchanged at a 15-year high of 5.25%, while leaving the door open for further rate hikes if necessary. Policymakers are also expected to reiterate that interest rates will need to remain near current levels for a long time to come, despite growing signs that the economy is leveling off.

The Bank of England will also update its quarterly forecasts, with the August forecast report showing that economic growth is expected to be just 0.5% in 2023 and 2024. Governor Andrew Bailey said earlier this month that the economic outlook was "very bleak".

5. Eurozone inflation and GDP

After the European Central Bank left interest rates unchanged last Thursday (19th), the focus turned to the Eurozone inflation and GDP data released on Tuesday.

Analysts expect the Eurozone headline CPI to fall to 3.2% in October, close to the ECB's 2% target.

Q3 GDP growth is expected to be -0.1% quarter-on-quarter and 0.2% year-on-year growth, which will be released on the same day.

On Thursday, ECB President Christine Lagarde hinted at a steady policy outlook and dismissed expectations of a rate cut.

Bank of Japan meeting preview: forced to adjust YCC to abandon ultra-loose but still far away!

By Ambar Warrick Finance

Published on October 30, 2023 16:09

USD/JPY

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JP10Y...

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Investing Investing.com British – The Bank of Japan will hold an interest rate meeting on Tuesday (31st). Analysts expect the Bank of Japan to adjust its yield curve control (YCC) policy at the meeting, as recent data showed an increase in inflation in Japan, while higher bond yields and a weaker yen have also put pressure on the BOJ.

Selling pressure in the bond market has intensified, and the Bank of Japan may be forced to adjust its yield curve control policy

While the Bank of Japan is widely expected to maintain its ultra-low interest rate policy, signs of rising inflation could allow the Bank of Japan to extend its yield curve control – equivalent to a modest tightening of monetary conditions in an ultra-loose environment.

Recent media reports have also pointed out that the Bank of Japan is considering adjusting the yield curve due to the increasing selling pressure in the bond market in October.

Under the Bank of Japan's current yield control policy, the yield on the 10-year government bond of Japan's benchmark bond can trade in a range of -1% to 1%, which is now close to the upper limit set by the Bank of Japan.

On Monday (30th), Japan's 10-year government bond yield hit a ten-year high, reaching 0.89%. In October, the Bank of Japan intervened in the bond market on several occasions to stabilize overheated yields.

(Japan 10-year government bond yield chart, monthly, source: Investing Investing.com Finance)

What is the magnitude of the adjustment?

Bank of Japan analysts said the Bank of Japan may expand the target range of its yield control policy strategy to -1.5% to 1.5%. Analysts at ING predict that the Bank of Japan may keep the current 1% range unchanged, but will raise the midpoint target from 0% to 0.25% or 0.5%.

"The depreciation of the yen has increased inflationary pressures, which will eventually affect consumption, and a sharp rise in interest rates could hit corporate investment," ING analysts wrote in a recent note. In addition, increasing bond purchases will also place a greater burden on the Bank of Japan."

The BOJ's inflation forecast is widely expected to change as core inflation (excluding volatile fresh prices) has exceeded the BOJ's 2% target for 18 consecutive months. At the same time, given the continued strong performance of the Japanese economy this year, a revision to its gross domestic product (GDP) forecast is also expected. In the first two quarters of this year, Japan's GDP growth was stable.

However, the Bank of Japan may remain cautious about abandoning its ultra-loose policy

Still, the BOJ has struggled to strike a balance between providing adequate stimulus to the Japanese economy and countering a sharp depreciation of the yen and a sharp rise in bond yields, two factors that could destabilize the world's third-largest economy.

Although analysts expect the BOJ to gradually deviate from its ultra-loose stance in 2024, the BOJ remains cautiously secrecy. The shift is also expected to be gradual.

After implementing the yield curve control policy, the Bank of Japan adjusted its policy only once, in July this year and December 2022, both times in response to the severe depreciation of the yen and the sharp rise in bond yields.

Strong response! Chairman of the Russian State Duma: If the EU collects a windfall tax on profits, Russia will confiscate European assets

stock market

Published on October 30, 2023 at 09:25 Updated on October 30, 2023 at 13:18

Strong response! Chairman of the Russian State Duma: If the EU collects a windfall tax on profits, Russia will confiscate European assets

SIBN

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Finance Associated Press, October 30 (edited by Ma Lan) Last Friday, European Commission President von der Leyen said that the European Union is developing a proposal to donate part of the profits of frozen Russian state-owned assets to Ukraine for post-war reconstruction.

The idea is understood to be a windfall tax on Russian assets frozen by the European Union, and von der Leyen revealed that the measure is expected to be proposed in early December. In response, the Russian side responded quickly, saying that if the EU takes relevant measures, Russia will immediately retaliate.

Vyacheslav Volodin, speaker of the lower house of the Russian parliament (chairman of the State Duma), said on Sunday that Russia would make the EU pay a bigger price if the EU imposed a windfall tax on Russian assets.

In a post on the social platform Telegram, he said that some European politicians, led by von der Leyen, were once again discussing stealing Russia's frozen funds to continue financing the militarization of Ukraine, and such a decision forced Russia to reciprocate. He also warned that unfriendly countries have much more assets in Russia than Russia has frozen funds left in Europe.

Volodin believes that the EU's windfall tax on Russian funds is aimed at saving politicians' own jobs, because of these people, EU countries are in terrible financial trouble.

And the idea of the EU itself has been warned by the EU's top brass that it could have side effects. The ECB noted that proceeds from the use of Russian assets could encourage other countries to exit their holdings of euro-denominated assets, ultimately weakening the euro itself.

But politically, this proposition was supported by Britain and the United States.

Currently, most of the Russian assets in Europe are deposited with the European Clearing Bank in Belgium. According to the Belgian government, the size of the assets is about 180 billion euros.

The European Bank for Clearing also said on Thursday that it had made a profit of 3 billion euros from frozen Russian assets in the first nine months of the year alone, compared with just 347 million euros in the same period last year.

And according to von der Leyen on Friday, the value of Russian sovereign assets frozen by the European Union is 211 billion euros. She also noted that the European Union has decided that Russia must pay for the reconstruction of Ukraine.

For the first time since taking office! The CEO of Xiaomo plans to sell 1 million JPMorgan Chase shares to cash out $140 million

By Nick Chen, stock market

Published on October 30, 2023 10:57

JPM

+0.80%

Investing.com Investing.com - On the 27th, JPMorgan Chase & Co. said that CEO Dimon will sell some of his JPMorgan shares next year for the first time since taking office.

JPMorgan Chase & Co. noted in the filing that Dimon plans to sell 1 million JPMorgan shares for the purposes of its financial diversification and tax planning.

Mr. Dimon and his family hold 8.6 million JPMorgan shares, according to the filing.

JPMorgan Chase (NYSE:JPM) shares closed down 3.6% at $135.69 on Friday.

How does the U.S. "debt mountain" exacerbate the collapse of the bond market?

stock market

Published on October 30, 2023 at 09:30 Updated on October 30, 2023 at 15:01

How does the U.S. "debt mountain" exacerbate the collapse of the bond market?

USD/CNY

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Finance Associated Press, October 30 (edited by Huang Junzhi) The collapse of U.S. Treasury bonds, which has unnerved U.S. markets this month, is forcing investors to focus on the government's rising debt.

The acceleration of U.S. debt growth has already raised investor concerns in 2023, with lawmakers barely averting a catastrophic default in June after President Joe Biden and then-House Speaker Kevin McCarthy reached a last-minute agreement to raise the federal debt ceiling.

Now, some prominent Wall Street figures have raised the possibility of a resurgence of the so-called "bond volunteers", referring to the fact that fixed income markets can force governments and central banks to tighten policy under certain circumstances. This also contributed to the plunge in US Treasuries to some extent, causing benchmark yields to rise to 16-year highs.

The following four charts show why the huge debt burden in the United States is a concern and how it has affected the market.

The "mountain of debt" in the United States is still growing

Since the end of World War II, the government has borrowed more and more money to fund its spending programs.

According to historical data from the Treasury Department, the U.S. national debt has swelled from less than $300 billion in June 1946 to a staggering $33 trillion in September 2023 – meaning that the U.S. debt is now more than the economies of China, Japan, Germany, India, and the United Kingdom combined.

Economists say tax cuts during the Reagan-Bush era, a massive expansion in the size of the U.S. Treasury market, and flashpoints such as the invasion of Iraq and the 2008 financial crisis have all contributed to a sharp rise in debt.

The government's growing repayment obligations have also sparked divisions in Washington, with prominent far-right Republicans such as Florida Gov. Ron DeSantis and Rep. Matt Gaetz speaking out against previous compromises on the debt ceiling and opposing the Biden administration's student loan relief measures.

The debt-to-GDP ratio of the United States has crossed a critical threshold

Over the past few decades, it's not just the total amount of debt that has increased.

According to the International Monetary Fund (IMF), the level of deficits, as measured by the ratio of U.S. debt to gross domestic product (GDP), has also risen steadily since 2000 and exceeded 100% for the first time in 2019.

Darrell Spence, an economist at Capital Group, said the threshold was a sign that a country might have to start worrying that its budget deficit would be a drag on overall economic growth.

"When the outstanding debt exceeds 100% of GDP, there may not be an immediate problem." "Nonetheless, the U.S. debt situation is evolving and needs attention," he wrote in a research note last week. He warned that taking on more debt could force the government to raise taxes, triggering further bond sell-offs and leading to higher interest rates.

According to the International Monetary Fund, the United States is one of only 21 countries in the world with deficits that exceed total GDP, along with Greece, Sri Lanka and war-torn Sudan.

At the same time, the US debt-to-GDP ratio has risen faster than most G7 economies over the past 20 years. Italy and Japan are the only two countries in the group with higher government debt-to-GDP ratios.

The "bond volunteers" may be exacerbating the collapse of the US Treasury market

There is still a debate in the market about this issue.

For some, the U.S. government can continue to accumulate debt as much as it pleases, knowing that the U.S. as the world's largest economy and the dollar's status as the world's reserve currency will protect it. But the events of the past few weeks suggest that investor confidence that the United States can always repay its debt may be waning.

U.S. Treasury prices saw one of the worst crashes in market history, with 10-year and 30-year yields soaring above 5% for the first time since 2007.

Investors' fears that the Fed will keep borrowing costs high for long before 2024 in order to curb inflation have fueled the sell-off – as the low-risk, but fixed-return of bonds becomes less enticing when interest rates rise.

But some Wall Streeters believe the market plunge was also driven by "bond volunteers" who sought to drive down the price of Treasuries in order to encourage Congress to reform its borrowing habits.

Ed Yardeni, a senior analyst, said in September, "There has been a focus on deficits since the downgrade of the U.S. government's debt rating on August 1. He coined the term "bond volunteers" in the 80s of the last century.

"I think we're going to have a real problem, and my friends, the bond volunteers, may need to act and convince politicians that we have to do some more fundamental things to reduce the long-term prospects of the deficit," he added.

Bill Gross, a legendary investor known as the "old debt king," echoed this hypothesis, saying earlier this month that a group of retail traders may have taken control of the market and pushed yields to 5%. Gross has made billions of dollars trading this asset class.

Note: The above information sources are summarized and integrated by various information platforms to share domestic and foreign information, and do not constitute any investment advice! Beware of non-originality! Unoriginal! Unoriginal! For more information, please move to the corresponding original platform!

10.30 - Summarize domestic and foreign information sharing! It does not constitute any investment advice! Beware of non-originality!

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5 major events in today's financial market: Dow futures rose about 200 points, and HSBC expanded its repurchase scale by $3 billion

1. U.S. stock index futures rose, and the market waited for a large number of blockbuster economic events this week

2. Apple will release its earnings report

3. Oil prices fell despite Israel's ground offensive into Gaza

4. HSBC announces a new round of share buybacks

5. Evergrande gives a deadline for a new restructuring plan

Big Mo: The S&P 500 could fall to 3,900 points by the end of the year

5 major events in the financial market this week: FOMC meeting, Apple's earnings report, and the U.S. non-farm payrolls are coming!

1. The Federal Reserve interest rate meeting was unveiled, and it is expected to be held still

2. The non-farm payrolls data is expected to fall back soon

3. Apple, McDonald's, and Starbucks will report financial results

4. The Bank of England will announce its interest rate decision

5. Eurozone inflation and GDP

Bank of Japan meeting preview: forced to adjust YCC to abandon ultra-loose but still far away!

Selling pressure in the bond market has intensified, and the Bank of Japan may be forced to adjust its yield curve control policy

What is the magnitude of the adjustment?

However, the Bank of Japan may remain cautious about abandoning its ultra-loose policy

Strong response! Chairman of the Russian State Duma: If the EU collects a windfall tax on profits, Russia will confiscate European assets

For the first time since taking office! The CEO of Xiaomo plans to sell 1 million JPMorgan Chase shares to cash out $140 million

How does the U.S. "debt mountain" exacerbate the collapse of the bond market?