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Market Insights: Jan 8th, 2024

01-08

Evergrande EV stocks halted; ICBC penalized for irregular transactions; U.S. Congress leaders agree on $1.66 trillion spending

Stock Market Updates:

  1. In the A-share market, sectors such as liquor and travel, photovoltaics, real estate, and retail lead in terms of gains, while chip, computing power, and AI sectors are among the top losers.
  2. The Shanghai Composite Index and Shenzhen Component Index both experienced a decline of over 1%, with the healthcare, semiconductor chips, defense, and consumer electronics sectors leading the losses.

Financial Sector:

  1. WIND Financial Terminal, a subsidiary of Wind Information, is currently undergoing emergency repairs due to a backbone network failure, resulting in login disruptions.
  2. Leaders of both parties in the U.S. Congress have reached a $1.66 trillion spending agreement aimed at avoiding a government shutdown. However, the deal may face opposition from conservative members of the far-right faction in the House of Representatives.
  3. The "Data Elements x" Three-Year Action Plan has been issued, expected to activate sectors such as industry, commerce, and finance.
  4. Industrial and Commercial Bank of China (ICBC) has been penalized for irregular transactions, with the Shanghai Stock Exchange implementing a six-month trading restriction on relevant securities accounts linked to the trading operator, Fujian Port Group.

Tech Companies Updates:

  1. Apple's new product, Vision Pro, has been shipped to distribution warehouses in the United States and is expected to be launched in the U.S. on January 27.
  2. Boeing encountered document processing issues during inspections, and investigators are searching for the missing components.
  3. The electric car business unit under China Evergrande Group announced a suspension of stock trading.

International Situation and Security:

  1. Chinese national security authorities recently uncovered a case involving the UK's Secret Intelligence Service (MI6) using third-country personnel for espionage activities against China.
  2. U.S. stock market futures showed a mixed trend after the first week of 2024, with major indices declining. Traders are currently focused on upcoming inflation data and the financial reports of key banks.
  3. Adjustments in oil prices by Saudi Arabia and ongoing tensions in the Middle East have led to a decrease in oil prices.

U.S. Treasury Bonds and Economic Concerns:

A yield of over 4% on the U.S. 10-year Treasury bond is considered a buying point, with the total national debt surpassing $34 trillion, sparking concerns about the economy.

Hong Kong Property Market:

The number of second-hand homes priced below HKD 3 million in Hong Kong has increased, with the total transaction volume in 2023 reaching a six-year high.

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Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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