On Monday, April 29, local time, the three major U.S. stock indexes closed up across the board. At the close, the Dow rose 0.38%, the Nasdaq rose 0.35%, and the S&P 500 rose 0.32%.
In terms of large technology stocks, Tesla rose more than 15%, the largest one-day increase since March 2020, Apple rose more than 2%, Amazon rose slightly, and Netflix, Google, Meta, Microsoft, etc. all fell to varying degrees.
Most of the popular Chinese concept stocks rose, with GDS up more than 9%, VNET and Shanda Technology up more than 8%, Li Auto up more than 7%, Baidu up more than 5%, Xpeng Motors up more than 3%, and NIO up more than 2%. In terms of decline, Daqo New Energy fell by more than 9%, and Good Future fell by more than 5%.
Tesla rose more than 15%
On April 29, local time, Tesla rose by more than 15%, and its market value rose by more than 82 billion US dollars (about 590 billion yuan) overnight.
Tesla will deploy its FSD (Full-Self Driving) self-driving service for the Chinese market based on lane-level navigation and maps provided by Baidu, the sources said.
According to the China Securities Journal, Tesla's user app shows that the description of the purchase page of Tesla's official FSD (Full-SelfDriving) service has been changed from "to be launched later" to "coming soon".
According to media reports, Musk's visit to China is intended to promote the implementation of Tesla's Full Self-Driving (FSD) system in China, and seek permission from the Chinese side to transmit the car driving data collected by Tesla in China to foreign countries for autonomous driving algorithm training. Earlier this month, Musk replied to a user on the social media platform X asking when Tesla would launch FSD in China: "It could happen soon." ”
Coincidentally, on April 28, the China Association of Automobile Manufacturers and the National Computer Network Emergency Technology Processing and Coordination Center issued the "Notice on the Testing of 4 Safety Requirements for Automotive Data Processing (the First Batch)", and the list of models that meet the 4 compliance requirements of automotive data security announced shows that Tesla's domestic Model3 and ModelY all meet the compliance requirements of automotive data security.
Tesla's official Weibo account said on the evening of the 28th that it will continue to cultivate in China, develop together with the industry in artificial intelligence, electric vehicles, energy storage and other fields, and accelerate the implementation of clean energy and autonomous driving technology.
The U.S. Treasury unexpectedly raised its borrowing forecast for the second quarter
The U.S. Treasury Department said in a statement on Monday that it expects borrowing needs to be raised to $243 billion from $202 billion in April-June, and reiterated that the U.S. Treasury cash balance will remain at $750 billion by the end of June, according to the Securities Times. Almost at the same time, the three major U.S. stock indexes suddenly dived, but then rebounded in a V-shape.
Zachary Griffiths, head of U.S. investment ratings and macro strategy at CreditSights, said: "The upward revision is somewhat surprising. Still, the $41 billion revision by the U.S. Treasury is a rounding error for the level of debt and deficit we're dealing with. The market reaction suggests that the US fiscal situation remains quite sensitive. ”
JPMorgan Chase's Marco Kolanovic believes that the US stock market could repeat the late-summer slump that began in August last year, saying that the prospect of higher interest rates for a long time will weigh on economic growth. "We remain concerned about a repeat of last summer's retracement," he said. ”
The yen has fluctuated sharply recently, Japanese media: Sources say the Japanese government may have intervened in the market
CCTV News quoted the Japan Broadcasting Association as reporting on April 29 local time that in the international foreign exchange market on that day, the yen exchange rate against the US dollar once rose to a level of about 155 yen to 1 US dollar.
Japanese media reported earlier on the 29th that in the international foreign exchange market, the exchange rate of the yen against the US dollar once fell below 160 yen to 1 US dollar. According to NHK, this is the first time in 34 years since April 1990 that the yen has touched that level against the dollar.
Sources said the Japanese government and the Bank of Japan may have intervened in the market. Japan's Ministry of Finance Minister Mato Kanda met with reporters after the yen rebounded against the US dollar on the afternoon of the 29th. Regarding the situation of selling dollars and buying yen in the foreign exchange market on that day, which had an impact on the yen exchange rate, Kanda said that he "has no comment" at present.
Since March, the main reason for the decline of the yen against the dollar has been the "appreciation of the dollar" caused by the weakening of the Fed's interest rate cut expectations. The continued strong rise in U.S. prices and the expectation that the Fed's high policy rate will persist for an extended period of time have accelerated the dollar's appreciation against many currencies. Japan will enter the Golden Week holiday next week, and exporters will stop buying yen, and fears that the yen may depreciate further are spreading in the market. Japanese Finance Minister Shunichi Suzuki said on the 26th in response to the depreciation of the yen that he will continue to "pay close attention to the dynamics of the foreign exchange market and take all possible countermeasures".
This article integrates CCTV News, Securities Times, China Securities Journal, and 21st Century Business Herald (Reporter: Zhong Yuxin)
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