Edited by: Zhang Yangyun, Wang Xiaobo
NO.1 Market News
The number of initial jobless claims in the United States last week was 207,000, with an estimate of 215,000 and a previous value of 212,000.
The seasonally adjusted quarter-on-quarter annualized rate of GDP in the first quarter of the United States was 1.6%, the lowest in the past two years, less than half of the growth rate in the fourth quarter of last year, and slower than the market expectation of 2.5%.
For the latest data, US President Joe Biden said that GDP shows that the economy is growing steadily, but more jobs are still needed. On April 25, U.S. Treasury Secretary Janet Yellen said that the GDP data may be revised later. GDP data shows strong growth in consumption and investment spending, the U.S. economy is growing strongly and is in full swing, the U.S. has a very good strong job market, there is no evidence that the labor market is a source of inflation, and the U.S. economy is overheated.
The three major U.S. stock indexes collectively closed down, with the Dow Jones falling more than 600 points at one point and closing down 375.12 points, or 0.98%, the Nasdaq down 0.64%, and the S&P 500 down 0.46%. Meta fell more than 10%, and its market value evaporated by more than 130 billion US dollars (about 940 billion yuan), IBM fell more than 8%, Microsoft fell more than 2%, Google and Amazon fell more than 1%, Tesla rose about 5%, Nvidia rose more than 3%, and Netflix and Intel rose more than 1%. Chinese concept stocks were mixed, with the Nasdaq China Golden Dragon Index up 0.75%. Tencent Music and JD.com rose more than 1%, while Baidu, Alibaba, Full Bang and NetEase rose slightly. Bilibili, Li Auto, Futu Holdings, Pinduoduo, and Weibo fell more than 1%, while NIO and Vipshop fell slightly.
International oil prices rose across the board, with the June contract rising 1.16% to $83.77 per barrel. Brent oil June contract rose 1% to $87.91 a barrel.
International precious metals futures generally closed higher, COMEX gold futures rose 0.27% to $2344.6 an ounce, and COMEX silver futures rose 0.44% to $27.465 an ounce.
Most of Europe's major stock indexes fell, with Germany's DAX 30 down 0.89%, Britain's FTSE 100 up 0.49%, France's CAC 40 down 0.93%, and Euro Stoxx 50 down 1.01%.
NO.2 China responds to Blinken's China-related remarks: We hope that the US side will earnestly respect the principle of fair competition
On April 25, Foreign Ministry Spokesperson Wang Wenbin held a regular press conference. When asked by a reporter about US Secretary of State Antony Blinken's China-related remarks during his stay in Shanghai, the spokesman said: What I want to tell you is that in the past two days, we have given a background briefing on US Secretary of State Antony Blinken's visit to China and introduced China's principled position on relevant issues. Then the Chinese side will also release the news of Secretary Blinken's visit to China in a timely manner. Wang Wenbin said that China has always carried out economic and trade cooperation in accordance with market principles, and has always firmly supported the multilateral trading system and fully implemented WTO rules. We hope that the US side will earnestly respect the principle of fair competition, abide by WTO rules, work with China in the same direction, and create favorable conditions for the sound and steady development of China-US economic and trade relations. (CCTV News)
NO.3 Ministry of Commerce: The West's hype about China's "overcapacity" is unreasonable China firmly opposes it
On April 25, the Ministry of Commerce held a press conference on the afternoon of April 25 to introduce the recent key work in the field of commerce. A spokesperson for the Ministry of Commerce said that recently, some Western countries have frequently accused China of overcapacity, and this hype is unreasonable, and China firmly opposes it. (CCTV News)
NO.4 The Ministry of Defense responds to the deployment of medium-range missiles by the United States in the Asia-Pacific region: it will be resolutely countered by China!
On the afternoon of 25 April, the Ministry of National Defense held a regular press conference, at which Senior Colonel Wu Qian, director of the Information Bureau of the Ministry of National Defense and spokesman of the Ministry of National Defense, answered reporters' questions. According to reports, the U.S. Army Pacific released a message on its official website that the U.S. Army's 1st Multi-Domain Task Force deployed medium-range missiles for the first time in northern Luzon Island in the Philippines. According to some analysts, the missile can hit China's coast. Wu Qian said: We resolutely oppose the deployment of intermediate-range missiles by the United States in the Asia-Pacific region, and this position is clear and unambiguous. The relevant actions of the US side seriously threaten regional national security and seriously undermine regional peace and stability, and will be resolutely countered by China. We hope that the countries concerned will refrain from luring wolves into their homes, lest they harm others and themselves. (CCTV News)
NO.5 Two departments: adjust the land appreciation tax policy for the reform of the rural collective property rights system
On April 25, the Ministry of Finance and the State Administration of Taxation issued an announcement on the land appreciation tax policy for the reform of the rural collective property rights system. Villagers' committees and villagers' groups that, in accordance with the requirements of the reform of the rural collective property rights system, transfer or change the use rights of state-owned land, buildings on the ground and their attachments to the name of rural collective economic organizations, shall not be subject to LAT for the time being. (CCTV News)
NO.6 Netizens suggested the introduction of a personal bankruptcy law, and the State Administration of Financial Supervision responded to it!
On April 25, the Chinese government website released the State Administration of Financial Supervision and Administration's reply to netizens' suggestions on "improving policies such as credit fund supervision and stimulating the vitality of private enterprises". The State Administration of Financial Supervision replied that it would carefully study, absorb and adopt in its work, and continuously improve the financial services of private enterprises. In response to netizens' suggestion to "introduce a personal bankruptcy law to provide opportunities for economic regeneration for honest debtors", the State Administration of Financial Supervision responded that on the issue of personal bankruptcy, the State Administration of Financial Supervision will actively cooperate with the legislature to carry out research and demonstration on whether personal bankruptcy is included in the law, the practical needs and positive effects of personal bankruptcy into the law, whether the timing is appropriate, and whether the supporting conditions are in place.
NO.7 According to the report of the State Council, the proportion of state-owned financial capital in banking, insurance, securities and other industries should be adjusted in a timely and reasonable manner
The State Council's report on the study and handling of the deliberation opinions of the special report on the management of state-owned assets of financial enterprises and the situation of rectification and accountability was submitted to the ninth meeting of the Standing Committee of the 14th National People's Congress for deliberation on the 23rd. According to the report, the Ministry of Finance and the financial management department have promoted the further optimization of the layout of state-owned financial capital. We should study in depth the proportion of state-owned financial capital in banking, insurance, securities, and other industries in a timely and rational manner through such means as replenishing capital and increasing profits, and in accordance with the principle of "advancing and retreating, and rational flow." (Xinhua News Agency)
NO.8 The previous exchange answered questions from reporters on issues related to the price fluctuations of precious metals and some non-ferrous metals
On April 25, the last issue of the exchange released a message to answer reporters' questions on the recent strengthening of supervision and risk prevention. Since the beginning of this year, due to the influence of international macro factors and the transmission of overseas markets, domestic precious metals and some non-ferrous varieties have also experienced increased price fluctuations. According to the previous period, the first is to introduce appropriate risk control measures in a timely manner to prevent excessive speculation and guide rational trading. The second is to maintain a high-pressure regulatory posture and resolutely maintain market order. The third is to optimize the layout of delivery warehouses and expand delivery resources to ensure the smooth operation of delivery.
NO.9 Shenzhou-18 astronauts successfully stationed in China's space station
According to the China Manned Space Engineering Office, at 20:59 on April 25, 2024, Beijing time, the Long March-2F Yao-18 carrier rocket carrying the Shenzhou-18 manned spacecraft was ignited and launched at the Jiuquan Satellite Launch Center. Three astronauts from Shenzhou-18 successfully entered the Chinese space station.
NO.10 International News
Russian Deputy Foreign Minister: If Russian assets are "substantially confiscated", consideration will be given to reducing diplomatic relations with the United States
Russian Deputy Foreign Minister Ryabkov said on the 25th that if Russian assets are "substantially confiscated", Russia will consider reducing diplomatic relations with the United States. (Xinhua News Agency)
Israeli media said that Netanyahu approved plans to conduct a ground operation in Rafah
On the evening of April 25, local time, according to the Israeli public broadcaster, Israeli Prime Minister Benjamin Netanyahu approved a plan to carry out ground military operations in Rafah, a city in the southern Gaza Strip, at a wartime cabinet meeting held on the same day, but the Israeli cabinet has not yet made a relevant decision. The IDF is still awaiting relevant directives.
Argentina's central bank cuts benchmark interest rate to 60%
On April 25, local time, the Central Bank of Argentina announced that it would cut the benchmark interest rate from 70% to 60%, which was the second interest rate cut by the Central Bank of Argentina this month. Ranali, deputy secretary of state for press in the Argentine presidential office, said that the rate cut means that inflation in the country has cooled significantly. Argentina's inflation rate was 11.2% in March this year, down from 13.2% in February, and the cumulative inflation rate in the past 12 months reached 287.9%.
South Korea's birth rate is declining, with the number of newborns falling below 20,000 in February
According to South Korea's "JoongAng Daily" reported on the 25th, the downward trend of South Korea's birth rate is becoming more and more obvious, and the first quarter has not been able to avoid a low birth rate as the peak period of birth. According to the data, the number of newborns fell below 20,000 in February this year, the first time it fell below 20,000 in the first quarter. According to the report, the February population data released by Statistics Korea on the 24th showed that the number of newborns in February this year decreased by 3.3% compared with the same period in 2023 (20,020), hitting a record low of 19,362. In addition, the number of newborns in February has been declining year by year since reaching a peak of 36,754 in 2014. After falling below 30,000 in 2018 (27,575), it fell below the 20,000 mark this year. (Chinanews.com)
NO.1 Jia Yueting: It is my biggest dream to repay my debts and return to China as soon as possible
Jia Yueting, Zhou Hongyi: Recently, Zhou Hongyi, the founder of 360, once again talked about his views on Jia Yueting's car manufacturing in an interview, and Zhou Hongyi said: "Wait for him to return to China." On the afternoon of April 25, Jia Yueting posted a video on Weibo in response to Zhou Hongyi: "It is my biggest dream to return to my motherland as soon as possible. The day I successfully build the car and pay off the debt is when I return to China. Over the years, I have repaid more than $10 billion, and I no longer have any debts under the American legal system. Nevertheless, I will do my best to settle my debts under the Chinese legal system as soon as possible. (Synthesize)
Comments: FF is currently facing financial difficulties and a fiercely competitive electric vehicle market, and there is still uncertainty about whether Jia Yueting can realize his dream of returning to China.
NO.2 ByteDance refutes rumors: There are no plans to sell TikTok
TikTok: On the evening of April 25, a reporter from the "Daily Economic News" learned that ByteDance officially issued an article on today's headline platform, saying: The news from foreign media about ByteDance's exploration of selling TikTok is untrue, and ByteDance does not have any plans to sell TikTok. Prior to this, The Information reported that ByteDance was exploring options for selling a majority stake in TikTok's U.S. business, preferably to companies outside the tech industry and not including an algorithm that recommends videos to TikTok users.
NO.3 10 minutes of charging and 600 kilometers of battery life!
CATL (SZ300750, share price 193.2 yuan, market value 849.9 billion yuan): On April 25, at the 2024 (18th) Beijing International Automobile Exhibition, CATL officially released the Shenxing PLUS battery, with an energy density of more than 205Wh/kg, a cruising range of more than 1,000 kilometers, and a range of 600 kilometers in 10 minutes of charging. (per synthesis)
Comments: This shows that the improvement of electric vehicle battery technology will further promote the development of the electric vehicle market.
NO.4 Employees who are absent from work to see sick parents are dismissed?
Gree Electric Appliances (SZ000651, share price 38.95 yuan, market value 219.3 billion yuan): Zhuhai Gree Electric Appliance Co., Ltd. Cultural Media Center official Weibo @ Gree Wenchuan posted on April 25 that recently, a number of self-media accounts published an article titled "Employees Absent from Work to See Sick Parents, Dong Mingzhu Directly Ordered: The Employee Was Dismissed". After investigation, it was found that the article was purely false, and it was a rumor and slander, seriously misleading the public. We have done a good job of collecting evidence.
NO.5 "Stud" Nvidia suffered a huge loss? Dan Bin responded
Dan Bin: The fluctuation of the net value of the products of the 10-billion-level private equity Oriental Harbor has increased significantly. According to the data of the private placement network, from April 15 to April 19, many of Oriental Harbor's products retreated by more than 10% weekly, and the net value of Oriental Harbor Qiting No. 1 Private Securities Investment Fund fell by 11.06% in a single week. In this regard, many market participants believe that it is related to its heavy position in NVIDIA. Regarding the market's speculation, Dan Bin said on social platforms: "Nvidia's decline has an impact on us. However, it has risen for two days (net value) back a lot, maybe the week that fell last week will rise back, if (Nvidia) quarterly performance is good, (stock price) may break through and stand above 1,000 yuan. (Shanghai Securities News)
Comments: This may trigger investors' attention to Oriental Harbor and investment advice, as well as attention to Nvidia's quarterly results.
NO.6 Tibet Everest apologized for many typos in the announcement
Tibet Everest (SH600338, share price 8.83 yuan, market value 8.072 billion yuan): Tibet Everest issued an announcement on April 25 to apologize for many typos in the company's announcement on April 19: it will strengthen the preparation of information disclosure and review and proofreading. Tibet Everest said that the main reason was that the company's staff directly copied the text of the PDF file without careful checking. On April 25, the Shanghai Stock Exchange issued a regulatory warning to Tibet Everest and Hu Handong, the secretary of the board of directors. The Tibet Securities Regulatory Bureau also issued a warning letter, saying that there were multiple typos in the announcement, and the internal control of information disclosure was a mere formality.
Comments: Companies should strengthen internal processes and audits to ensure information accuracy and transparency.
NO.7 Huatai Securities plans to sell more than 10 billion overseas assets
Huatai Securities (SH601688, share price 13.31 yuan, market value 120.2 billion yuan): On the evening of April 25, Huatai Securities announced that it intends to sell all the shares of its U.S. holding subsidiary AssetMark at a consideration of $35.25 per share, and Huatai Securities is expected to receive about $1.793 billion (about 13 billion yuan) in cash. According to the currently available financial information, the company's income from this transaction in 2024 (pre-tax basis of consolidated statements) is expected to be approximately US$795.73 million (approximately RMB 5.8 billion).
NO.8 Nongfu Spring launched a low-key "green bottle" pure water
Nongfu Spring (HK09633, stock price 44.8 Hong Kong dollars, market value 503.8 billion Hong Kong dollars): Recently, the promotional image of the new pure water product "Little Green Bottle" produced by Nongfu Spring has been circulating on the Internet. On April 25, a staff member of Nongfu Spring told reporters: "Now we will continue to distribute goods offline first, and they will also be listed in the future (online and offline)." Another staff member of Nongfu Spring told reporters that the specification of green bottled pure water is 550ml, and the retail price is 2 yuan per bottle. (The Paper)
Comments: Nongfu Spring's launch of new products shows the company's efforts in market expansion and product innovation.
NO.9 Financial reports of key U.S. stock companies
Google (GOOGL, stock price $156, market capitalization $1,939.5 billion): parent company Alphabet reported revenue of $80.54 billion in the fiscal first quarter versus analysts' expectations of $79.04 billion, and operating profit in the fiscal first quarter was $25.47 billion versus analysts' expectations of $22.4 billion. Google's U.S. stock rose more than 15% after hours, increasing its market value by nearly $300 billion.
Intel (INTC, $35.11, market capitalization $149.5 billion): Q1 revenue of $12.72 billion versus analysts' expectations of $12.71 billion, Q1 adjusted EPS of $0.18 versus analysts' expectations of $0.13, and Q2 revenue of $12.5 billion to $13.5 billion versus analysts' expectations of $13.63 billion. Intel's U.S. stocks fell more than 5% after hours.
Microsoft (MSFT, stock price $399.04, market capitalization $2,965 billion): Q3 revenue of $61.9 billion versus analysts' expectations of $60.87 billion, Q3 earnings per share of $2.94 versus analysts' expectations of $2.83. Microsoft's U.S. stock rose more than 5% after hours.
Snap (SNAP, stock price $11.405, market capitalization $18.8 billion): Q1 revenue of $1.19 billion versus analysts' expectations of $1.12 billion, Q1 daily active users of 420 million vs. analysts' expectations of $420 million, and Q2 revenue of $1.23 billion to $1.26 billion versus analysts' expectations of $1.21 billion. Snap's U.S. stock rose more than 30% after hours.
NO.10 Apple's open-source model OpenELM is here
Apple (AAPL, stock price $169.89, market capitalization $2,623.4 billion): According to VentureBeat, Apple recently released a large OpenELM model on Hugging Face, an AI code community. This is a series of open-source large language models composed of different parameter sizes that can run on device-side devices. Probably for the next iPhone. It is understood that this series of models contains 270 million, 450 million, 1.1 billion and 3 billion a total of 4 different parameter versions. Based on a small number of parameters, these models can be run independently on the device, without having to connect to a cloud server. Specifically, it includes a total of 4 pre-trained models and 4 instruction tuning models. These models can run on laptops and even smartphones, with Apple citing as an example a MacBook Pro with an M2 Max chip, 64GB of RAM, and running macOS 14.4.1. (Interface)
Comments: This could have a positive impact on Apple's competitiveness and market performance.
Investment interactions
On April 25, northbound funds bought a net of 350 million yuan. Among them, the Shanghai Stock Connect net bought 921 million yuan, and the Shenzhen Stock Connect net sold 571 million yuan. In the list of stocks with active northbound capital transactions, there are 10 net buying stocks, and the largest amount is China Merchants Bank (600036. SH, closing price: 34.4 yuan), a net purchase of 661.5 million yuan, a total of 10 stocks were net sold, and the largest amount was Midea Group (000333.SZ, closing price: 68.24 yuan), a net sale of 289.5 million yuan.
On April 25, southbound funds bought a net of HK$1.880 billion. In the list of stocks with active trading of southbound funds, there were 8 net buying stocks, and the largest amount was Bank of China (3988. HK, closing price: HK$3.49), with a net purchase of HK$523.7 million, and a total of 5 stocks were net sellers, with the largest amount being Meituan-W (3690.HK, closing price: HK$111.5), with a net sale of HK$795.8 million.
Galaxy Securities: In the future, the field of general AI large models may be more concentrated in the head manufacturers, and more manufacturers need to transform to industry specialization, seek breakthroughs in empowering industries and terminal applications, and vertical AI large models and end-side AI large models will be the main battlefield in the future, with a broad market space. It is recommended to pay attention to: iFLYTEK, Kunlun Wanwei, Tuowei Information, etc.
Reporter: Wang Lin
Editors: Zhang Yangyun and Wang Xiaobo
Disclaimer: The content and data of the article are for reference only and do not constitute investment advice. Investors act accordingly at their own risk.
National Business Daily