news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Last night, the three major U.S. stock indexes closed higher.

The Dow Jones Industrial Average rose 127.91 points, or 0.32%; the Nasdaq rose 280.63 points, or 1.58%; and the S&P 500 rose 59.41 points, or 1.08%.

Most large technology stocks rose, with Tesla rising more than 5%.

On the news front, Tesla CEO Musk revealed on the same day that the company plans to start small-scale manufacturing of humanoid robots next year, initially for internal use only at Tesla.

Tesla aims to achieve mass production of these robots by 2026, and expects them to be adopted by other businesses.

Nvidia rose more than 4% to $123.54, with the latest total market value of $3.04 trillion. Nvidia's total market value increased by $138.006 billion overnight, equivalent to RMB 1003.8 billion.

Popular Chinese stocks generally rose, with the Nasdaq China Golden Dragon Index rising 2.77%.

Xpeng Motors rose more than 6%, NIO rose more than 5%, and Li Auto rose more than 4%.

Weibo rose more than 3%, NetEase, JD.com, Baidu, and Bilibili rose more than 2%, Alibaba and Vipshop rose more than 1%, Pinduoduo and Futu Holdings rose slightly, and iQiyi fell more than 3%.

Recently, many institutions have expressed optimism about the Chinese economy or Chinese assets.

01‍

IMF expects China's economic growth to be strong

The International Monetary Fund (IMF) released an updated World Economic Outlook report on July 16, predicting that China's economy will grow by 5% in 2024.

IMF chief economist Pierre-Olivier Gulenchat said that emerging Asian economies such as China remain the main engines of the global economy.

CICC said that U.S. inflation in June was significantly lower than expected, further increasing the probability of the Federal Reserve cutting interest rates in September. Global capital allocation has shifted marginally, and attention to Chinese assets is expected to pick up again.

02

Foreign giants are bullish

In its latest report, foreign giant Societe Generale pointed out that the third quarter may become a key turning point for Asian stock markets, and "China transactions" are once again becoming the focus of investors.

Frank Benzimra, head of Asian equity strategy at Societe Generale, said that China's stock market is entering the third stage of a tactical rebound, with positive signs in corporate earnings.

At the same time, foreign institutions suddenly increased their holdings in Chinese real estate giants.

On July 22, according to documents disclosed by the Hong Kong Stock Exchange, BlackRock's long position in Vanke's H shares increased from 4.67% to 5.19% on July 17, with an increase of 1.84 million shares.

03‍

Half-year reporting season begins

Currently, the A-share "semi-annual report season" has begun. According to Wind data statistics, as of press time, 1,659 A-share listed companies have disclosed their performance forecasts for the first half of 2024. Among them, the net profit of many listed companies is expected to increase year-on-year, with the upper limit exceeding 1,200%.

From an industry perspective, listed companies in sectors such as semiconductors, consumer electronics, electronic components and equipment are expected to see significant increases in first-half performance.

04‍

International investors buy

International investors are continuing to buy RMB assets.

The latest data released by the State Administration of Foreign Exchange shows that in the first half of 2024, the scale of foreign investment in RMB bonds was relatively high. In the first half of the year, foreign capital net increased its holdings of domestic bonds by nearly US$80 billion (approximately RMB 580 billion), the second highest value in the same period in history.

Editor: Chen Lixiang

Proofreading: Yang Lilin