Market Dynamics:
- Surge in Gold Price: The spot gold price broke through $2,100 per ounce, reaching a historic high.
- SOE Tech Index: The "national team" increased holdings in the state-owned enterprise (SOE) technology index, focusing on innovative technology companies such as Hikvision, AVIC Optoelectronics, AVIC Shenyang Aircraft, Zhenhua Technology, and Baoxin Software.
- Stock Market Trends: Healthcare stocks in the Hong Kong and A-share markets continue to decline, with WuXi Biologics experiencing a significant drop of over 20%. A-share indices show mixed opening performance, with the automobile sector leading the market.
- Competition Among U.S. Assets: U.S. stocks, bonds, and gold are all on the rise, with Wall Street closely watching the future interest rate cuts by the Federal Reserve.
Macro-Economic and Policy News:
- U.S. Economy: Market attention shifts to the timing and extent of interest rate cuts by the Federal Reserve, with May 1st seen as a potential turning point in the current rate hike cycle. Market expectations for rate cuts exceed those of the Federal Reserve.
- Chinese Economy: Efforts are needed to achieve a 5% economic growth rate in 2023, and the Chinese Yuan is expected to appreciate moderately with limited magnitude. Dongwu Securities predicts the possibility of the Yuan breaking the 7.0 mark.
- Changes in the Banking Sector: Noticeable wave of mergers and acquisitions among small and medium-sized banks.
- Alibaba News: Alibaba Group exits its holdings in seven listed companies, including Focus Media, Qianfang Technology, and Meinian Health, promoting independent development outside its main business.
- Pangongsheng's Emphasis: China's real estate market is undergoing a significant transformation, and it is necessary to proactively adapt to this change while adhering to the principle of "housing is for living, not for speculation."
- Cybersecurity: In the face of system crash events, network security and stability become crucial issues, urging companies and regulatory bodies to strengthen security management of data centers and cloud platforms.
- Missing Documents Issue: Several mainland banks report does not receive relevant white list documents, potentially affecting their business operations.
International Relations and Other Aspects:
- Dow Jones Futures and S&P 500 Index: Dow Jones futures remain stable, and the S&P 500 index closes at its highest point of the year.
- China Evergrande Group: China Evergrande Group seeks a delay in the Hong Kong liquidation court hearing.
- Middle East Tensions: Oil prices have risen due to renewed focus on Middle East tensions.
- Raymondo's Proposal to Restrict Chinese Chip Technology: Raymondo calls for international allies to take joint action to restrict China's chip technology development.
- Market Optimism About National Team's Support for A-shares: Expectations of the national team supporting the A-share market bring positive sentiment to the Hang Seng Index.
