Hot Spotlight //
1. After the central bank adjusted the provident fund loan interest rate policy was released, the housing provident fund centers in Beijing, Shanghai, Shenzhen, Guangzhou, Dongguan, Zhongshan, Jiangmen, Shantou, Suzhou, Hefei, Nanjing, Chengdu, Chongqing, Changsha, Zhengzhou, Hubei and other places responded positively and lowered the interest rate of provident fund loans. In addition, Shaanxi, Hangzhou, and Hefei have also adjusted their provident fund loan policies.
2. According to an article in the Securities Times, *ST Baoli shares fell below 0.1 yuan recently, and the lowest once fell to 0.09 yuan, which attracted widespread attention in the market. Since the beginning of this year, there have been dozens of "gross stocks" whose stock prices have fallen below 1 yuan, and some of them have been delisted and delisted during the year. Recently, the number of low-priced "gross stocks" has further increased significantly, which to some extent reflects the profound changes that are taking place in the market. The differentiation of listed companies in the A-share market is likely to intensify further. The "lower bound" level of penny stocks in the market may fall further. Other types of transactional compulsory delisting may also occur, such as the situation where the number of shareholders is too low and the market value is too low to meet the criteria for transactional compulsory delisting.
Macro//
1. According to the National Development and Reform Commission, last year, the mainland issued an additional 1 trillion yuan of treasury bonds, which were specially used to support the post-disaster recovery and reconstruction of North China, with the focus on Beijing-Tianjin-Hebei. At present, among the 15,000 projects that have been landed, 11,000 have started construction, with a start-up rate of 72%, and the remaining projects will strive to start construction by the end of June.
2. A new round of financial measures to support real estate has been launched in four consecutive rounds. Industry experts generally believe that the central bank's introduction of optimized housing finance policies at this time will boost market confidence and improve expectations, while also continuing to stabilize financial data. If the prepayment situation gradually improves, it will support the steady growth of personal loans and real estate loans.
3. Chengdu City, Deyang City, Meishan City and Ziyang City jointly released a list of investment opportunities in the Chengdu metropolitan area, and jointly launched 232 projects with a planned investment amount of more than 840 billion yuan. At the same time, the Chengdu metropolitan area project was signed in a centralized manner, with a total investment of more than 130 billion yuan.
4. The first RCEP Entrepreneur Cooperation Conference was held in Fuyang City, Anhui Province. A total of 81 industrial investment projects were signed at this conference, with a total investment of 69.5 billion yuan. Focusing on the development status of the ten characteristic industries and the direction of investment promotion, Fuyang City has planned and compiled 110 key promotion projects, with an estimated total investment of 215.2 billion yuan.
5. At the 2nd "See Beautiful China in Huzhou" Investment and Technology Cooperation Promotion Conference and Huzhou Future Conference, 110 projects were signed with a total investment of 103.92 billion yuan.
Domestic Stock Market //
1. This week, 267 listed companies received institutions and disclosed research records, and the research stocks were mainly concentrated in the electronics, mechanical equipment and pharmaceutical and biological industries, with 38, 29 and 23 companies in the industry respectively welcoming the research institutions. From the perspective of the number of institutional researchers, the industrial Internet giant, with a market value of more than 500 billion yuan, received the most research institutions, with 238 research institutions.
2. CSI Index will officially release the CSI 500 Dividend Low Volatility Index, CSI 800 Dividend Low Volatility Index and CSI 1000 Dividend Low Volatility Index on May 21. Since the beginning of this year, with the popularity of high-dividend sectors in the secondary market, the market recognition of dividend indexation investment has been increasing. Industry insiders believe that with the continuous improvement of the system, listed companies pay more attention to dividends, A-share dividends are a long-term trend, and the dividend strategy is expected to continue to receive widespread attention from the market.
3. Benefiting from multiple positive factors such as the overall rebound of Hong Kong stocks and the reduction or exemption of the dividend tax of Hong Kong Stock Connect, the Hong Kong stock dividend index has performed well recently. Fund companies are also intensively deploying related products, and theme funds investing in Hong Kong stock dividends and high-dividend sectors have been declared since the second quarter. Public offering sources believe that in the medium term, under the combined effect of factors such as the internal and external macro environment, the market value management demands of central state-owned enterprises and the expected increase in dynamic dividend rates, Hong Kong stock dividend assets may continue to show allocation value.
4. Under the continuous activity of the concept of low-altitude economy, related stocks have also been actively investigated by public offerings. Wanfeng Aowei, a low-altitude economic bull stock that rose by more than 260% during the year, released the latest record of investor relations activities, and 20 public offerings, including China Southern Fund, Huatai Barry, Morgan Stanley Fund and Fidelity Fund, participated in the survey.
5. Lei Jun responded to the rumors that Xiaomi's intelligent driving program adopts a third-party company, saying that since the beginning of the fight, he has set a goal, and all of Xiaomi's intelligent driving must be developed by itself. Xiaomi's own research and development of intelligent driving, the annual cost is more than 2 billion yuan.
6. CATL, Guangzhou Public Transport Group, Times Wisdom, Guangzhou Bus Group Transportation Branch, and Guangzhou Yima Times jointly signed a strategic cooperation framework agreement to jointly explore the deep integration of the automotive and new energy battery service industry chain.
Finance//
1. CUAM Hong Kong Stock Connect Dividend 30 ETF announced that it will adopt the form of monthly dividend assessment in the dividend mechanism, and can pay dividends up to 12 times a year. At present, this is still an innovation in Hong Kong stock dividend products. Similar products have been unveiled in A-shares before, with the 10,000 CSI Dividend ETF listed in March and the Cathay SSE State-owned Enterprise Dividend ETF listed on May 15, both of which can pay dividends up to 12 times a year.
2. The new fund issuance market frequently has a "hot money" bond base. Since May, in only half a month, three bond-based explosive funds have been established, with the largest scale approaching 8 billion yuan. At the same time, the bond ETF market gave birth to a 30 billion-level "giant", and the latest scale of HFT CSI Short-term Financing ETF reached 31.949 billion yuan, once again hitting a record high, and it is currently the largest bond ETF product in the whole market.
3. During the sharp fluctuations in the stock market in the past year, the relatively resistant dividend assets with high dividends and high dividends have been favored by funds, and various fund managers have also increased the layout of such products, and the number of dividend strategy funds declared in the past year has reached 84, a year-on-year surge of 6.6 times. Since the beginning of this year, there have been 36 newly declared dividend strategy funds, of which 22 are index and index feeder funds, accounting for more than 60%; There were 13 active equity funds, accounting for 36%, and 1 QDII fund.
Housing//
1. The relevant person in charge of the Housing Provident Fund Supervision Department of the Ministry of Housing and Urban-Rural Development said that the most direct beneficiary of the reduction of the housing provident fund personal housing loan interest rate is the housing provident fund lender. Taking a personal housing loan of 1 million yuan and a term of 30 years for the first housing provident fund as an example, the total interest expense will be reduced by 48,500 yuan in 30 years. The urban housing provident fund management center will be guided to do a good job in policy convergence in accordance with the regulations to ensure that depositors can enjoy the preferential policies as soon as possible.
2. Shanghai lowered the interest rate of housing provident fund loans, starting from May 18, the interest rate of the first set of personal housing provident fund loans for less than 5 years (including 5 years) and more than 5 years was reduced to 2.35% and 2.85% respectively, and the interest rates of the second set of personal housing provident fund loans for less than 5 years (including 5 years) and more than 5 years were reduced to 2.775% and 3.325% respectively.
3. Shenzhen Housing Provident Fund Loan Interest Rate Reduction: The adjusted interest rate for personal housing provident fund loans that have been issued in Shenzhen before May 18 will be implemented from July 1; The adjusted interest rate will be implemented for personal housing provident fund loans applied before May 18 and not disbursed, as well as for personal housing provident fund loans applied after May 18 (inclusive).
4. According to the Hubei Provincial Department of Housing and Urban-Rural Development, since May 18, all 17 cities and prefectures in Hubei Province have lowered the interest rate of personal housing provident fund loans. The interest rate of the first personal housing provident fund loan for less than 5 years (including 5 years) has been reduced from 2.6% to 2.35%, and the interest rate of the first personal housing provident fund loan for more than 5 years has been reduced from 3.1% to 2.85%.
5. Wuhan Economic and Technological Development Zone has issued the "Nine Articles" of real estate funds, more vigorously implemented the subsidy policy of buying houses to benefit the people and enterprises, promoted the housing project for talents on a larger scale, more innovatively implemented the transaction model of "selling the old and buying the new", and implemented land transfer more flexibly.
Industry//
1. Zhang Ying, director of the Shanghai Municipal Commission of Economy and Information Technology, said that in the humanoid robot track, Shanghai is stepping up research and formulating relevant policies to support key technologies such as humanoid robot ontology, embodied intelligent large models, and dexterous hands; It will accelerate the implementation of the "Intelligent Robot +" action, promote 10,000 intelligent robots into smart factories, and reach 500 robots per 10,000 people in key industries in 2025.
2. Shanghai pilots cross-border data transmission such as intelligent networked vehicles. During the one-year pilot program, companies registered in the Shanghai Free Trade Lingang Zone, where Tesla's Shanghai factory is located, can transfer listed data overseas without further security assessment.
3. Cui Dongshu, Secretary-General of the Passenger Association, said that in the past two years, the new energy vehicle and energy storage industry has been highly prosperous, the demand for batteries has grown rapidly, and the proportion of batteries for new energy vehicles has declined. In 2020, the installed capacity of production batteries for power batteries will reach 76%, 70% in 2021, 54% in 2022, 50% in 2023, and 46% from January to April 2024.
4. According to the "2024 White Paper on the Development of China's Satellite Navigation and Location Service Industry" released by the China Satellite Navigation and Positioning Association, the overall output value of the mainland's satellite navigation and location service industry will reach 536.2 billion yuan in 2023, a year-on-year increase of 7.09%.
5. The 2024 Annual General Meeting of the World Cement Association was unveiled in Nanjing. According to the statistics of the Cement Big Data Research Institute, the overseas clinker production capacity of domestic cement enterprises will expand to 64.65 million tons in 2023, a year-on-year increase of 35%; By the end of March this year, Chinese companies had built 54 cement plants in 21 countries.
6. According to China Railway, from January to April this year, the national railway sent 1.37 billion passengers, a year-on-year increase of 22.9%, and the transportation was safe, stable and orderly.
7. Liu Zhenfang, Chairman of China Railway Group, held talks with Belozerov, General Manager of Russian Railways, conducted in-depth exchanges on deepening Sino-Russian railway transport cooperation, and signed the minutes of the talks and the comprehensive strategic cooperation agreement between China and Russia on railways.
Overseas-
1. South Korea's aviation industry will reduce fuel surcharges on international routes from next month. Korean Air's surcharge will be reduced from the current KRW 21,000 to KRW 161,000 to KRW 18,200 to KRW 144,100. Asiana Airlines will reduce it from the current 23,000 to 125,800 won to 20,600 to 114,100 won.
2. Recently, Thailand has suffered from continuous high temperatures, and local crops and fruit planting have also been affected. Fruits such as durian, mango, lychee, and longan, as well as crops such as rice, corn, and mung beans, are expected to decrease in Thailand. Among them, durian production is expected to decrease by 40% to 60%.
International Stock Market //
1. Jane Lake, head of security at OpenAI and head of the "Super Intelligence Alignment Team", announced on social platforms that she is leaving OpenAI. This is the resignation of another executive after the resignation of OpenAI's co-founder and chief scientist Suzkovi on Wednesday.
2. Sony and Apollo Global Management have officially expressed interest in acquiring Paramount for approximately $26 billion.
3. Polestar announced that due to the failure to submit an annual report for the year ended December 31, 2023, the company received a notice from Nasdaq confirming that the company did not comply with the requirements of the Nasdaq listing rules.
4、Meta Platforms首席技术官Andrew Bosworth出售940万美元股票。
5. As the deadline approaches, BHP Billiton is discussing improvements to acquire Anglo American.
6. Danone announced that it has completed the sale of its basic dairy and plant-based products (EDP) business in Russia.
Commodity-
1. The London spot silver price exceeded $30 per ounce for the first time in more than a decade, reaching a maximum of $31.592 per ounce. Analysts say silver may be at the front end of the strongest upward cycle in history, supported by underlying factors such as the widening gap between supply and demand.
2. According to the data of the General Administration of Customs, China's exports of rare earths and their products in April were 10,092 tons, down 2.1% year-on-year; From January to April, the cumulative export of rare earth and its products was 38,955 tons, an increase of 3.1% year-on-year.
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