stocks – Spress

The Fed’s “turning to the eagle” will trigger a 10%-20% callback in US stocks. After retail investors rushed into the market, might it lead to a crash?

editor — Sun, 27 Jun 2021 05:10:04 +0000

From the Financial Association, reported by Jinshi

A team led by Nikolaos Panigirtzoglou, a global market strategist at JPMorgan Chase, pointed out in a recent report that so far this year, retail investors have invested approximately US$485 billion in U.S. equity funds, and since mid-May, retail investors’ investment momentum in individual stocks and options has regained momentum. accelerate.

At the end of 2020, JP Morgan Chase estimated that retail investors will inject 500 billion U.S. dollars into the U.S. stock market throughout 2021. However, the Panigirtzoglou report recently stated that if the current purchase rate continues, the number may soar to $1 trillion.

However, the headwinds of US stocks are coming quietly, and the US stocks adjustment may be underway.

After the Fed released the “hawk” signal last week, the Dow Jones Index recorded its biggest weekly decline since October 2020. Moody’s chief economist Mark Zandi recently warned that the Fed’s “eagle” will trigger a 10% to 20% correction in US stocks.

The Federal Reserve issued an interest rate resolution last week, still deciding to keep the policy interest rate near zero and the scale of QE bond purchases unchanged, but it raised the two major managed interest rates. In addition, the interest rate dot chart released by the Federal Reserve suggests that as the economy recovers rapidly from the impact of the new crown epidemic and inflation rises, officials are expected to raise interest rates twice before the end of 2023, much earlier than expected in March.

Zandi hinted that in this context, the US stock market adjustment may already be in progress, because investors have begun to panic.

The Dow Jones index just set its biggest weekly decline since October 2020, down 3.45%. The S&P 500 index last week was the worst since the end of February, and the Nasdaq index, which is dominated by technology stocks, also fell last week.

Unlike the sharp decline in US stocks in the past few years, Zandi does not expect the stock market to recover quickly this time because market valuations are already very high. He expects it may take a year to resume the original rally. Although Zandi issued a warning to the market, he believes that the economy will avoid a recession because this recession is mainly due to risks caused by excessive asset prices, rather than serious fundamental problems. Zandi has been warning of inflation for months. At the beginning of March, Zandi asserted that inflation would be “far ahead”, and investors did not recognize and fully grasp the risks. Zandi said that inflation is still an issue affecting stock market and bond investors. Zandi believes that it is unlikely that the benchmark 10-year U.S. Treasury yield will continue to fall:

“Considering the current situation, I would not expect the yield to remain at 1.5% in the long term.”

Stocks and bonds are not the only risky assets that attract Zendi’s attention. Zandi also believes that the sell-off of commodities and cryptocurrencies is brewing more trouble. In addition, in the case of rising mortgage interest rates, he is worried about the sustainability of the booming real estate market. Coincidentally, Micheal Burry, the prototype of “Big Short” and a well-known hedge fund manager, also issued a warning to Bitcoin a few days ago, saying that retail investors who buy “group stocks” and cryptocurrencies are about to usher in devastating losses. In addition to holding stocks, Burry also issued a warning to cryptocurrency enthusiasts to borrow money to buy their favorite currency unscrupulously. He wrote on Twitter:

“Like most things, the problem with cryptocurrency is leverage. If you don’t know how much leverage there is in cryptocurrency, then you don’t know anything about cryptocurrency.”

According to CoinDesk data, after Bitcoin broke through $63,000 and hit a record high in mid-April this year, it has fallen by more than 40% so far. Ethereum has also fallen sharply after its surge, starting from the record high set in May. It has fallen by more than 45%. The Federal Reserve’s interest rate decision has caused turmoil in US stocks, and the sell-off of commodities and cryptocurrencies is brewing more trouble. We return to the beginning of the message and cannot help asking, will the momentum of retail investment throughout 2021 continue? New York Stock Exchange (NYSE) President Stacey Cunningham recently stated that the price of meme stocks (referring to stocks that retail investors are keen to buy on social media) may be distorted because most of these stocks are traded outside the US public exchange. Place. Cunningham said that the price formation of meme stock does not truly reflect the relationship between supply and demand. Morgan Stanley CEO James Gorman also said that meme stock has brought some benefits because this trend has attracted younger investors to enter the market, but warned that the dramatic rise in stocks such as AMC and Gamestop could be the “cause of disaster.” Gorman believes that the huge returns that some meme stocks have received in a short period of time are not healthy, and these gains are “to some extent the root of the disaster.”

The Fed’s “turning to the eagle” will trigger a 10%-20% callback in US stocks. After retail investors rushed into the market, might it lead to a crash?

editor — Fri, 25 Jun 2021 19:10:06 +0000

From the Financial Association, reported by Jinshi

However, the headwinds of US stocks are coming quietly, and the US stocks adjustment may be underway.

Zandi hinted that in this context, the US stock market adjustment may already be in progress, because investors have begun to panic.

“Considering the current situation, I would not expect the yield to remain at 1.5% in the long term.”

“Like most things, the problem with cryptocurrency is leverage. If you don’t know how much leverage there is in cryptocurrency, then you don’t know anything about cryptocurrency.”

Originals speculate on REITs as new stocks. How happy are young people stalking wool?

editor — Fri, 25 Jun 2021 07:50:05 +0000

Did you really do your homework before buying?

Author/ Chen Dengxin

edit/ Meng Huiyuan

At the moment, young people are extremely sensitive to funds.

On June 21, 2021, the first batch of nine publicly offered REITs were officially listed, showing a trend of opening higher and lower prices, but all closed up as of the close, with the highest increase of 14.72%.

The so-called public offering REITs are standardized financial products that publicly raise funds from investors to form fund assets and hold infrastructure projects through infrastructure asset-backed securities.

In layman’s terms, it is a special fund that seeks to hold dividends, can be traded freely, and is open to the public.

However, as aborigines of the Internet, young people have different interpretations of new species. They treat publicly-raised REITs as new stocks, and stage a magical scene.

Are REITs and new stocks stupidly unclear?

“It feels like you are playing new stocks, and you can add chicken legs if you win,” Li Pengfei said.

Li Pengfei, who is located in Wuhan, has been working for three or four years. Since he has no plan to buy a house, he has more money on hand, so his financial needs are urgent.

“I heard from my friends that it is good to buy a fund. I watch the market from time to time, and it has risen better than stocks, so just follow.” Li Pengfei told Zinc Scale that he started to contact the fund in mid-June 2020.

Li Pengfei knows little about public REITs.

However, seeing that his friends around him took action, Li Pengfei was naturally unwilling to let others go. After participating in the purchase of Shougang Green Energy, one of the nine publicly-raised REITs, “what needs to be scrambled is the good thing.”

According to public information, Shougang Green Energy originally planned to issue 10 million copies to public investors. A total of 144,091 valid subscriptions were received on that day. The number of valid subscriptions was approximately 682 million, which was 68.2 times the original plan. The placement ratio after the callback mechanism was only 1.76%.

The degree of popularity can be seen. In the call auction stage, Shougang Green Energy opened 20% higher, leading the way among the nine publicly-raised REITs. Li Pengfei looked forward to the future: “We are waiting for the number of boards.” First day performance of nine public offering REITs But I didn’t want to. Not only did it fail to reach the 30% first-day daily limit, but it fell back a lot. “It’s the same to subscribe, and the signing rate is the same. It’s not as strong as new stocks.” Unlike Li Pengfei, Zhao Guangwei has a deeper understanding of public REITs. “Post-95” Zhao Guangwei told Zinc Scale that buying publicly raised REITs is equivalent to becoming a “chartering company” and enjoying the dividends of China’s infrastructure madman. “My landlord’s greatest happiness is collecting rent every day. After rent collecting, I drink tea, listen to music, and watch the sunset. The days have passed by, I really envy.” Zhao Guangwei said that buying public-raised REITs is more out of his heart’s approval. “Pretend that you have real estate.” Nevertheless, Zhao Guangwei chose to sell on the first day. The reason for this is because I am afraid of the chicken feathers after the stir-frying. “The drivers are thinking about jumping off the car. Shouldn’t we run early and wait for the car to roll over?” An industry insider said that the supply of publicly offered REITs is abundant in the later period, and the sharp fall in the premium is a high probability event. Investors must not treat the new stocks of publicly offered REITs that were originally normalized, otherwise they may suffer a big loss. “Every leek will enter the market. Thinking that you are a sickle, you may not escape the fate of being cut in the end.”

REITs are a long-distance runner

In fact, public REITs are not new. As early as 1960, it was born in the United States. The first three public REITs, Winthrop Real Estate Trust, Washington Real Estate Investment Trust, and Pennsylvania Real Estate Investment Trust, still exist in the New York Stock Exchange. However, it has been tepid since then, and it was not until the 1990s that it ushered in a blowout. The reason is that publicly offered REITs enjoy tax care, and then superimposed to change the way of playing, no longer directly hold the property, but enjoy the investment income as a partner. As a result, public REITs have successfully attracted pension funds and other institutions that focus on long-term investment. According to the “Red Star Restaurant” report, the United States has the world’s largest REITs market, accounting for 66.6% of the global market value. The long-term annualized returns from 1980 to 2020 have performed well, outperforming the Dow Jones Industrial Index and basically the same as the S&P 500. . The United States has the world’s largest REITs market Looking at it this way, public REITs are a long-distance runner. It should be noted that, as an imported product, REITs entered China late. According to public information, the People’s Bank of China, China Securities Regulatory Commission and China Banking Regulatory Commission established REITs research groups in 2007, which kicked off the construction of REITs market. . However, for a long time, domestic REITs have existed in the form of private equity, such as Poly Rental Housing REITs and Penghua Qianhai Vanke REITs. From the pilot private placement to the liberalization of public placement, this means that China’s REITs are gradually becoming mature and can contribute more to the Chinese economy. On the one hand, reduce debt levels . Infrastructure, commercial real estate, etc. often require large-scale investment, and the demand for funds is quite large. Under this background, high debt has become a common feature of the industry and has also become the focus of controversy in the capital market. With the help of publicly offered REITs, companies can reduce overall liabilities, reduce leverage, and reduce financing costs, thereby enhancing their overall competitiveness. More importantly, it is to promote the transition from the pursuit of short-term profitability to long-term operation. On the other hand, revitalize existing assets. With the help of publicly offered REITs, infrastructure, commercial real estate, etc. can obtain the liquidity of stock assets through market-based pricing, thereby increasing the utilization rate of stock assets. In this regard, Huatai Securities analysts told Zinc Scale: “Issuing infrastructure REITs products can achieve the effects of revitalizing existing assets, broadening financing channels, reducing local government leverage, and promoting economic upgrading and transformation. This is the direction of policy encouragement.”

Three major uncertainties cannot be ignored

The current public offering REITs are all aimed at infrastructure, and there are no lack of related public utility stocks in A shares. What is the difference between the two? For example, the Shanghai-Hangzhou-Ningbo Expressway REITs and the listed company Nanjing-Shanghai Expressway both belong to the transportation category. The latter’s dividends are stable and show a trend of increasing year by year. The dividend rate of Nanjing-Shanghai Expressway is not high In fact, according to the requirements of the Fund Infrastructure Guidelines, public offering of REITs shall not be less than once a year if the distribution conditions are met, and public utility stocks are usually at most once a year. In addition to more stable dividends, the risk levels are also different. Huatai Securities analysts told Zinc Scale: “Infrastructure REITs are internationally accepted allocation assets, and are typical medium-income, medium-risk financial products. From international experience, infrastructure REITs products are affected by market factors and have relatively large returns. Less. For the majority of investors, soundness, safety, moderate returns, and suitable for long-term holding are the “role positioning” of public REITs as investment products. Stocks are high-risk investment products with high volatility.” Nevertheless, there are still uncertainties in public REITs. First, there are uncertainties in the level of operations. The underlying assets of public REITs are operated by professional companies. Once the project is determined, professional companies will not be easily changed, and the operating level of professional companies is closely related to the level of investment income. This means that the actual operating level of different projects may vary. The problem is that at the beginning of the investment, the level of professional companies is difficult to judge from the surface. Second, there are uncertainties in asset quality. The underlying logic of public REITs is long-term investment, and the requirements for asset quality are more stringent. The selection of the best among the best has become the consensus of the industry. However, the lack of motivation for the listing of high-quality projects has become a contradiction. With the full rollout of publicly offered REITs, the above-mentioned contradictions will gradually deepen. Once projects with insufficient asset quality are mixed in, they may face difficulties such as poor yields and unrepayable loans. Third, there is uncertainty about taxation. From the perspective of the global REITs market, almost all have relevant tax care. However, there is no relevant legal framework support in China for the time being. It is not ruled out that there will be corresponding arrangements or improvements in the future, but at this stage, we still cannot draw conclusions. In any case, public offering REITs are officially on the road. For related companies, there is an additional financing channel and the direction of transition to a service platform; for investors, they can reap stable rental income from real estate and long-term asset appreciation trends, so as to enjoy the dividends of China’s rapid economic development. This is a win-win outcome

Australian stocks|Australian index rose for five consecutive weeks, technology stocks rebounded, miner stocks bucked the market and declined

editor — Wed, 23 Jun 2021 16:55:07 +0000

ACB News “Australia Finance Online”, June 18 On Friday, the ASX200 index rose 9.9 points to 7368.9 points to close, an increase of 0.1%. This week the index rose 56.6 points, an increase of 0.8%.

(Picture source: “Aohua Finance Online”)

ASX200 Today’s chart

The turnover of ASX stocks reached 5 billion shares today, a slight increase from yesterday, and the turnover reached 14.3 billion Australian dollars, a substantial increase from yesterday. 749 stocks rose, 608 fell, and 435 closed flat.

The Australian dollar fell all the way from 76.42 US cents last night to the lowest of 75.40 US cents and then consolidated around 75.50 US cents. This afternoon, it fell sharply and rapidly again, reaching as low as 75.11 US cents and then rebounding. As of press time, it rebounded to 75.41 cents.

From the perspective of the disk, the rebound in the technology sector helped the Australian stock market to rise for the fifth consecutive week. company news: As far as this week is concerned, the four major banks collectively closed up. Among them, Commonwealth Bank’s share price climbed 2.3% to 103.69 Australian dollars, Westpac rose 2.2% to 26.88 Australian dollars, National Bank and ANZ Bank recorded gains of 1.5% and 2.6%, respectively. The plate closed at 26.87 Australian dollars and 28.98 Australian dollars respectively. The technology sector performed the best this week. The sector’s performance at the beginning of the year was disappointing, but the trend was strong throughout June. In this sector, the “buy first, pay later” giant Afterpay’s share price soared 10.5% to 114.40 Australian dollars, while its competitor Zip soared 13.8% to 8.14 Australian dollars. Accounting software company Xero and web-as-a-service company Megaport saw gains of 6.1% and 9.1% respectively, closing prices at A$142.25 and A$17.60 respectively. The health care sector also performed well this week. Among them, blood products giant CSL’s share price climbed 3% to 305.52 Australian dollars, respiratory equipment manufacturer ResMed soared 12.5% to 31.91 Australian dollars, medical company Sonic Healthcare soared 6.2% to 37.81 Australian dollars, cochlear implant production. Cochlear rose 4.8% to 246.72 Australian dollars, medical imaging company Pro Medicus and biotechnology company Mesoblast saw huge increases of 10.9% and 7.9%, respectively, to close at 55.81 Australian dollars and 2.32 Australian dollars. Major miner stocks led the decline this week, as the Fed’s unexpected hawkish stance hit commodity prices this week. In this sector, BHP Billiton shares fell 5% to A$123.47, Rio Tinto fell 1.2% to A$123.47, FMG and South32 saw declines of 3.4% and 5.8%, respectively, with closing prices of A$22.42 and A$2.78 respectively. Gold mining stocks are one of the worst-performing sectors this week, because the price of gold plummeted after the Federal Reserve meeting. In this sector, Newcrest fell 8.4% to 25.96 Australian dollars, Northern Star fell 13.9% to 9.90 Australian dollars, Evolution fell 8.1% to 4.67 Australian dollars, Ramelius and Westgold saw declines of 7.9% and 8.5% respectively, and closed at the end. 1.75 Australian dollars and 2.05 Australian dollars. Supermarket giant Coles’ shares fell 1.9% to A$16.36. Previously, the company announced an additional A$300 million investment in fiscal year 2022 to accelerate the automation of its distribution centers. Coal giant Whitehaven Coal’s shares plunged 9% to A$1.91. Previously, the company lowered its production forecast, saying that coal production this fiscal year will be lower than previously expected. Reference: Australian Financial Review Disclaimer: This article is a financial observation and commentary and does not constitute any investment advice. Please ask professionals for trading operations or investment decisions. (Solemnly declare: ACB News “Australia Finance Online” reserves all copyrights for articles marked as original. Please indicate the source in any form of reprint.) More information 1 The Fed expects to raise interest rates, the Australian index will fall, most sectors have fallen by more than 1%, and technology stocks have risen against the market 2 China’s release of bulk commodity inventories, miner stocks and pressure on bank stocks, strong market and new highs 3 The Australian Index hit a record high driven by U.S. stocks, many stocks set new records, and technology stocks continued to rebound 4 This week, the market continues its strong new high. The technology sector is struggling to catch up with travel stocks, disappointing 5 The Australian index rose above 7,300 for the first time, and the real estate sector led the gains and the energy sector was weak 6 U.S. stocks are unreliable, and the Australian index declines, technology stocks fall, and miner stocks rise against the market

Employees can buy company stocks at a 50% discount, Dong Mingzhu buys 800 million, Gree’s stock price fell nearly 5%

editor — Tue, 22 Jun 2021 06:05:10 +0000

On the evening of June 20, Gree Electric announced the first phase of the employee stock ownership plan. The total number of employees who intend to participate in the employee stock ownership plan does not exceed 12,000. The capital scale of the employee stock ownership plan does not exceed 3 billion yuan, accounting for the company’s total share capital. 1.8%.

Southern Metropolis reporter noticed that, perhaps affected by this news, after the opening of the market on June 21, Gree Electric Appliances plummeted all the way. At the close of the market, Gree Electric Appliances stock price was 51.11 yuan, a decrease of 4.79%.

On the evening of June 20, Gree Electric announced the first phase of the employee stock ownership plan. The total number of employees who intend to participate in the employee stock ownership plan does not exceed 12,000. The capital scale of the employee stock ownership plan does not exceed 3 billion yuan, accounting for the company’s total share capital. 1.8%.
Southern Metropolis reporter noticed that, perhaps affected by this news, after the opening of the market on June 21, Gree Electric Appliances plummeted all the way. At the close of the market, Gree Electric Appliances stock price was 51.11 yuan, a decrease of 4.79%.
Gree Electric’s last large-scale equity incentive was in 2009. At that time, the major shareholder Gree Group transferred 16.042,500 shares of Gree Electric. The company’s senior executives provide equity incentives.
On April 15 this year, Gree Electric announced again that it plans to launch an employee stock ownership plan. The total number of stocks to be held in this employee stock ownership plan does not exceed 3% of the company’s total equity. The total number of stocks corresponding to the equity interests of a single employee The cumulative total does not exceed 1% of the company’s total equity. Gree Electric stated that the source of stocks for this employee stock ownership plan is the accumulated repurchased shares in the company’s special repurchase account and the shares obtained in a manner permitted by laws and regulations such as secondary market purchases.
Nandu reporter combed and found that since April 2020, Gree Electric has issued three share repurchase announcements. In 2020, Gree Electric Appliances repurchased shares twice, with a total of 12 billion yuan used to repurchase a total of 209 million shares, accounting for 3.48% of the company’s total share capital. On the evening of May 26, 2021, Gree Electric announced the highest of the new phase The 15 billion yuan stock repurchase plan is used to invest in equity repurchase for employee incentives, improve governance mechanisms, and do diversified businesses. The repurchase amount exceeds the sum of the previous two periods.
According to the announcement on June 20, the latest employee stock ownership plan intends to purchase the company’s repurchase shares at 27.68 yuan per share. The purchase price is equal to 50% of the company’s recent average price of repurchased shares, compared with the closing of the stock (53.68 yuan) last Friday. The price discount is as high as 51%. The total number of employees who intend to participate in this employee stock ownership plan does not exceed 12,000, including a total of 8 company directors (excluding independent directors), supervisors, and senior executives, as well as middle-level employees who have an important role in the company’s overall performance and medium and long-term development Cadres and core employees.

Among them, in this employee stock ownership plan, Dong Mingzhu intends to subscribe for a maximum of 30 million shares, and the proposed maximum amount of funds is about 830 million yuan, accounting for 27.68% of this employee stock ownership plan. Other directors or vice presidents subscribed for 600,000 shares, and employee supervisor Wang Fawen subscribed for 80,000 shares. The remaining shares are the company’s middle-level cadres and core employees. In addition, although employees can subscribe for Gree Electric’s shares at half price, this “benefit” also has additional conditions-the employee stock ownership plan has set a two-year performance appraisal period. The employee stock ownership plan assigns the corresponding rights and interests to the holders of the employee stock ownership plan in two phases according to the assessment results during the vesting evaluation period, and the attributable ratio in each phase is up to 50%. The evaluation indicators of the employee stock ownership plan are divided into company performance evaluation indicators and individual performance evaluation indicators. In the first vesting period, the net profit in 2021 will increase by no less than 10% compared to 2020, and the cash dividend per share for the year shall not be less than 2 yuan or the total cash dividend shall not be less than 50% of the net profit for the year. In the second vesting period, the net profit in 2022 will increase by no less than 20% compared to 2020, and the cash dividend per share for the year will not be less than 2 yuan or the total cash dividend will not be less than 50% of the net profit for the year. After the plan came out, some Gree Electric’s investors’ plan rebounded strongly, believing that the exercise and excitation conditions of the employee stock ownership plan were too loose: Due to the new crown epidemic in 2020, Gree Electric’s performance base for the year was very low. Performance as a benchmark to set the incentive conditions for employee stock ownership is too loose. In addition, Gree Electric’s share price has not risen significantly in more than two years. At this time, the employee shareholding plan stock price can be risk-free arbitrage at a 50% exercise. Some investors also believe that Dong Mingzhu’s personal shareholding is as high as 30 million shares, which is too high in the employee shareholding plan. In addition, the Southern Metropolis reporter noted that on December 31, 2020, Gree Electric’s share price reached its highest point of 69.79 yuan. But after 2021, its stock price has fallen all the way to early 50 yuan, and the cumulative decline has been close to 30%. Written by: Southern Metropolis reporter Kong Xueshao

【Whale Media Information】Education stocks rise; Lingokids completes US$40 million financing

editor — Mon, 21 Jun 2021 15:51:08 +0000

【domestic】

Education concept stocks rise well in the future, they will rise more than 8%

On June 18, the education concept stocks, which had continued to decline, rebounded collectively. As of the close of the U.S. stock market on the same day, the share price of Huafu Education was reported at US$8.13 per share, an increase of 11.37%; the share price of Good Future was reported at US$22.38 per share, an increase of 8.54%; Puxin Education’s share price was reported at US$1.80 per share, an increase of 5.26%; NetEase Youdao’s stock price reported US$22.92/share, an increase of 5.04%; the head of Education’s share price reported US$12.87/share, an increase of 4.55%; Gaotu’s stock price reported US$12.99/share, an increase of 3.42%.

Xueda Education intends to use idle self-owned funds for entrusted financial management

On June 18, Xueda Education issued an announcement stating that the company held the 25th meeting of the Ninth Board of Directors on June 18, 2021, and reviewed and approved the “Regarding the use of idle self-owned funds for entrusted financial management in the next twelve months”. “Proposal”, agreed that under the premise of not affecting the company’s normal operations and controllable risks, the company and its holding subsidiaries use idle self-owned funds for entrusted wealth management, with a limit of no more than 800 million yuan, and the funds can be used on a rolling basis. The aforesaid quota is allocated according to the actual situation, and specific project decision-making and implementation are carried out. The authorization period is within 12 months from the date of approval by the shareholders meeting. Xueda Education stated that through moderate risk-controllable entrusted financial management, it is conducive to improving the efficiency of capital use, increasing the return on cash assets, and creating greater returns for the company and shareholders.

Tianli Education receives an increase of 3 million shares held by the company’s chairman Luo Shi

On June 18, Tianli Education announced that on June 18, 2021, the company’s chairman, chief executive officer and executive director Luo Shi purchased a total of 3 million company shares on the open market at an average price of about 2.95 Hong Kong dollars per share. After Luo Shi made the above-mentioned share purchase, his shareholding in the company has increased to approximately 40.43% of the company’s total issued share capital on the date of this announcement. In addition, from June 7 to 18, 2021 (both dates inclusive), according to the plan and the trust deed, the trustee of the plan will purchase a total of 5.193 million shares in the market at an average price of approximately HK$3.60 per share. It is held in trust for the benefit of eligible participants.

Babytree Group Appoints Co-Chairman of the Board of Directors and Change of Non-executive Directors

On June 18, Babytree Group issued an announcement stating that the board of directors announced that from June 18, 2021, Gao Min, a non-executive director and vice chairman of the board, has been appointed as the co-chairman of the board. He will continue to serve as a non-executive director and will no longer Served as the vice chairman of the board of directors. And Wang Changying has resigned as a non-executive director and a member of the company’s strategy committee, while Chen Weijun has been appointed as a non-executive director and a member of the company’s strategy committee. The announcement shows that the above changes will take effect from June 18, 2021.

New Oriental Yu Minhong refutes rumors: there has never been an internal forum

Recently, “New Oriental’s internal discussion report said that starting from 2022, classes will not be available on weekends, winter and summer vacations; subjects and non-subjects under the age of 6 will not be available; all tools for “shooting and searching questions” will be removed from the shelves.” etc. content. In response to this news, Yu Minhong, the founder of New Oriental Group, responded in the circle of friends: “New Oriental has never held such a meeting, and we don’t know any news. Life is not easy, why do you even stabbed in the back?” Soon after Yu Minhong posted, New Oriental was in The Weibo client officially refuted the rumors, stating that it had not conducted a so-called discussion on the relevant content and was unaware of the above content. New Oriental reserves the right to pursue the legal responsibility of the rumors and take legal measures to protect its legitimate rights and interests.

Henan Province establishes a college entrance examination system for vocational education

Recently, the Henan Provincial Government website announced the “Opinions of the Ministry of Education and Henan Provincial People’s Government on Deepening the Reform of Vocational Education and Promoting the Construction of a Skilled Society” (hereinafter referred to as the “Opinions”). The “Opinions” proposed to support Henan to deepen the reform of the college entrance examination, establish a spring “vocational education college entrance examination” system, and adopt the “cultural quality + vocational skills” examination enrollment method. Applicants are fresh graduates of vocational colleges and social personnel, and “vocational skills” The weight of test scores shall not be less than 50%. Support Henan to expand the scale of enrollment for college graduates entering the undergraduate stage of ordinary colleges and universities; support Henan colleges and universities, applied undergraduate colleges and universities, and undergraduate-level vocational schools to carry out the “3+2” counterpart training pilot. Support Henan in accordance with the relevant regulations of the Ministry of Education to recruit the winners of this province to participate in the World Skills Competition on behalf of my country to receive undergraduate level education.

Shandong Provincial Department of Education: Schools are not allowed to organize summer make-up lessons or participate in tutoring classes

Recently, the Shandong Provincial Department of Education issued the “Notice on Doing a Good Job in the Summer Study and Life Arrangements for Primary and Secondary School Students” (hereinafter referred to as the “Notice”), requiring primary and secondary schools in all regions to carry out safety education as a mandatory action and a required course for students before vacation. Focusing on key contents such as epidemic prevention, drowning prevention, Internet addiction prevention, food hygiene, and traffic safety, comprehensive safety education is carried out. The “Notice” also clearly states that education administrative departments and schools at all levels shall not organize students to come to school collectively or take classes online, make up lessons or organize self-study in a unified manner for any reason, and shall not participate in or organize students to participate in various tutoring training classes in any form, and schools are forbidden Jointly or lease school buildings to social forces to run schools for the establishment of cram schools and training courses. In addition, all cities are required to set up supervisory and reporting telephones and make them public on government websites to actively accept social supervision. Intensify investigation and punishment, and severely deal with schools that violate regulations in accordance with regulations.

【foreign】

Lingokids completes $40 million Series C financing

Recently, Lingokids announced the completion of a $40 million Series C financing. The lead investors of this round of financing have not yet been disclosed, and the investors include GP Bullhound and existing investors HV Capital and Ravensburger. It is reported that the funds raised will be used for further international expansion, the development of new and attractive content formats for children, and global recruitment, especially for engineering and development teams. According to the data, Lingokids is a language teaching start-up company dedicated to helping children learn a second language. It has developed an online interactive language learning game for children aged 2-6. This game can now be used to learn English and simple Chinese and Spanish learning functions will also be launched soon.

Original Zhang Jindong is in a pledge crisis: 384 million Suning Tesco stocks will be passively reduced, and more than 3 billion market capitalization shares will be judicially frozen

editor — Sun, 20 Jun 2021 17:24:11 +0000

Produced | Sohu Finance

Author | Zhang Ying

On the morning of June 15th, Suning.com issued an announcement stating that Suning Appliances passively reduced its holdings of 10 million shares on June 11, and it is expected that Suning Appliances may reduce its holdings of Suning.com by no more than 384 million shares in the next six months ( (Accounting for 4.12% of Suning Tesco’s total equity).

Since June, Suning Appliance has repeatedly reduced its holdings of Suning Tesco’s shares.

On June 2, Suning.com disclosed that Suning Appliance intends to transfer 520 million unrestricted shares of Suning.com (accounting for 5.59% of the company’s total share capital) held by Suning.com to the new retail fund, with a total transfer price of 3.182 billion yuan.

On June 10, Suning Appliance received a supervisory letter from the Shenzhen Stock Exchange. The regulatory letter pointed out that Suning Appliance reduced its holdings by a total of 19.50 million shares through centralized bidding, accounting for 0.21% of the total share capital of listed companies due to the default clauses of the agreement triggered by some stock pledge repurchase transactions. Suning Appliance did not announce the relevant shareholding reduction plan 15 trading days before the first occurrence of the shareholding reduction event.

In addition, on the morning of the 15th, Suning.com also issued an announcement stating that Zhang Jindong’s 540 million shares were judicially frozen by the Second Intermediate People’s Court of Beijing, accounting for 5.80% of Suning’s total share capital and 27.68% of Zhang Jindong’s holdings. .

A week ago, Suning Appliance Group Co., Ltd. added a piece of information about the person to be executed, case number (2021) Jing 02, No. 837, and the execution target was over 3.082 billion yuan. Zhang Jindong, Suning Real Estate Group Co., Ltd., and Suning Appliance Co., Ltd. Executor.

On February 28 this year, Zhang Jindong and his concerted person, Suning Holding Group, etc., planned to transfer 23% of Suning Tesco’s shares to Shenzhen International and Kunpeng Capital to introduce state-owned shareholders.

After the completion of the share transfer, the listed company will be in a state of no controlling shareholder and no actual controller.

This year, Suning.com has “continuous crises.”

The 2020 annual report previously disclosed by Suning.com showed that Suning.com’s 2020 operating income reached 252.296 billion yuan, a year-on-year decrease of 6.29%. In 2020, Suning.com’s net profit attributable to shareholders of listed companies was -4.275 billion yuan, a year-on-year decrease of 143.43% from 9.84 billion yuan in 2019. This was also the worst year for Suning.com since its listing.

Sohu Finance also learned that Suning Real Estate and Suning Appliance, which were executed this time, were also involved in a loan lawsuit with the leading real estate company Sunac.

Anhui Sunac Real Estate Co., Ltd. and Suning Real Estate, Suning Appliance, and Xuzhou Suning Real Estate related loan contract disputes will be heard on July 19, and Suning will be the defendant.

According to public reports, Suning Real Estate had previously cooperated with Suning Real Estate to develop real estate projects. During the development process, Suning Real Estate borrowed a sum of funds from Suning Real Estate, and Suning Real Estate failed to repay the arrears on time.

As of press time, Suning.com reported 5.65 yuan per share, down 9.02%.

Zhong Zhengsheng: US stocks and US debt are not afraid of higher CPI

editor — Sat, 19 Jun 2021 09:16:16 +0000

Source: Zhong Zhengsheng Economic Analysis

Authors: Zhong Zhengsheng, Zhang Lu, Fan Chengkai (Zhong Zhengsheng is a director of the China Chief Economist Forum, the chief economist of Ping An Securities, and the director of the research institute)

1. The U.S. CPI increased sharply year-on-year but slowed down month-on-month. The year-on-year readings of the US CPI indicator in May continued to hit new highs, but the growth rate of most of the sub-items decreased, which may make the market more agree with the “temporary inflation theory.” The second-hand car and truck index rose 7.3% month-on-month, slower than the previous value of 10%, but still maintained a high growth rate, continuing to contribute one-third of the growth of all projects. We believe that there are more reasons to believe that the rise in US prices has a certain degree of “stickiness”, especially in the second half of 2021, as the service industry demand is further restored, the adjustment of the supply side may not be timely. We will increase the CPI growth rate in the next period of time to 0.2%. Under the baseline scenario, the CPI in June may reach 4.6% year-on-year, and the CPI for the whole year of 2021 may reach 4.1% year-on-year. The significant drop in CPI year-on-year growth may not be seen until after the second quarter of 2022.

2. The prospects for the recovery of the US job market are relatively optimistic. U.S. employment data released in the past week showed that the number of job vacancies reached a record high of 9.286 million, and the job vacancy rate reached 6%, which is much higher than the level of about 4.5% before the epidemic. This shows that labor demand continues to recover and the job market continues to be actively matched. process. On the other hand, as half of the states in the United States will suspend the extra $300 weekly unemployment benefits in advance from June to July, residents’ demand for finding jobs has risen, which is reflected in the continued decline in the number of initial jobless claims. In the future, as “herd immunity” approaches, the alleviation of the epidemic will allow the catering, leisure and tourism industries to open up more comprehensively, and at the same time alleviate residents’ worries about employment risks.

3. The European Central Bank intends to significantly accelerate the pace of PEPP bond purchases. The European Central Bank announced its June interest rate resolution, maintaining the three key interest rates unchanged, and promised to significantly accelerate the purchase of the Emergency Anti-epidemic Bond Purchase Program (PEPP) from June to September, reiterating that PEPP will last at least until the end of March 2022. And maintain the total size of 1.85 trillion euros unchanged. In comparison, the asset gap between the European Central Bank and the Fed has narrowed significantly since April. In the future, the pace of PEPP bond purchases will continue to accelerate, and there may be devaluation pressure on the euro against the dollar. At the same time, the European Central Bank raised the Eurozone GDP growth rate and CPI index forecasts for 2021-2022. It is estimated that Eurozone GDP will grow by 4.6% in 2021, compared to the previous forecast of 4%; the Eurozone CPI is expected to be 1.9% in 2021, compared to the previous forecast of 1.5. %. European Central Bank President Lagarde’s overall speech was partial, emphasizing that premature tightening of monetary and fiscal stimulus would pose risks to economic growth and inflation. He said that upward pressure on inflation in the second half of 2021 will be limited, but the temporary factors behind inflation are somewhat different. Uplift.

4. Overseas epidemic situation and vaccine tracking: The Asian epidemic situation has begun to ease gradually. The number of new cases in Taiwan, China has dropped, and the number of new cases per day has fallen to less than 300; the number of new cases in a single day in India has fallen below 100,000 for 5 consecutive days, and the “risk” entered the “unblocking 1.0” stage on June 7 . In terms of vaccines, the European Union and India rank second and third in the world in terms of vaccination rates. The vaccination rate in the United States is not faster than before, and the new vaccination goals of the Biden administration may be difficult to complete on time.

5. Global asset performance: Global stock markets-the Sino-US growth sector led the world, and the S&P 500 reached a new high. The recent fall in market inflation expectations has alleviated concerns about “killing valuations”, and global risk appetite remains high. On the other hand, the value sectors of China and the U.S. fluctuate. The MSCI Europe Index rose 1.1%, outperforming MSCI Emerging Markets (down 0.0%) and Asia Pacific (down 0.1%). Global bond market-10-year U.S. bond interest rates fell below 1.5% for the first time since March 3. It closed at 1.47% on June 11. The fall in inflation expectations is the key driver. In the 10-year US bond interest rate drop of 9bp, the fall in inflation expectations contributed 8bp. In addition, abundant funds in the US market have also increased the demand for US debt to a certain extent. US high-yield corporate bonds continue to be sought after. China-US bond spreads have risen significantly. Commodity market-crude oil prices have continued to rise in the past week, WTI crude oil futures prices rose, closing at US$70.91 per barrel on June 11. Although the WTI crude oil inventory level has dropped significantly recently, it is still 20-30 million barrels higher than the pre-epidemic level. The OPEC report is more optimistic about global crude oil demand. Foreign exchange market-the dollar index jumped from 90.05 to 90.51 on June 11, It exceeds 90.50 on June 3, which is a new high since May 13. It should be noted that the rebound of the U.S. dollar is not due to the market’s early expectations of Taper or interest rate hikes, but more from the expectation of the European Central Bank’s expansion and acceleration of the balance sheet. The Fed’s pace of table expansion and the timing of Taper are likely to be earlier than the European Central Bank. In addition, the recent decline in initial unemployment claims and the fall in inflation expectations may also marginally increase market confidence in the U.S. economy.

1. Overseas key tracking

1. U.S. economy: U.S. CPI increased year-on-year but slowed down month-on-month

The U.S. CPI indicator reading in May continued to reach new highs, but most of the sub-items declined compared to April, which may make the market more agree with the “temporary inflation theory.” US May CPI rose 5.0% year-on-year, the highest growth rate since August 2008; core CPI rose 3.8% year-on-year, the growth rate hit a new high since 1992. Looking at the sub-item, the total CPI index rose by 0.6% month-on-month. Although it was slower than the previous value of 0.8%, it still significantly exceeded the 2016-2019 average of 0.18%. The core CPI rose 0.7% month-on-month, from the previous value of 0.9%. The month-on-month increase in most CPI items in May did not exceed that in April. Among them, the second-hand car and truck index rose by 7.3% month-on-month, which was slower than the previous value by 10%, but still maintained a relatively high growth rate, continuing to contribute to the growth of all projects. One part. In May, the new car index rose 1.6% month-on-month, the largest monthly increase since October 2009; the apparel sub-item rose 1.2% month-on-month, significantly exceeding the previous value of 0.3%.

The CPI in May was still higher than market expectations and we calculated it on the basis of the monthly average month-on-month (0.18%) from 2016 to 2019.We believe that there are now more reasons to believe that rising prices in the United States have a certain degree of “stickiness”, especially in In the second half of 2021, as demand in the service industry is further restored, the adjustment on the supply side may not be timely. We will increase the CPI growth rate to 0.2% in the next period of time. Under the baseline scenario, the CPI in June may reach 4.6% year-on-year, and the CPI for the whole year of 2021 may reach 4.1% year-on-year. The significant drop in CPI year-on-year growth may not be seen until after the second quarter of 2022.

The US employment data released in the past week showed that the number of job vacancies reached a record high of 9.286 million, and the job vacancy rate reached 6%, which is much higher than the level of about 4.5% before the epidemic. This shows that the demand for labor continues to recover, which means that the job market continues to be active. The matching process. On the other hand, as half of the states in the United States will suspend the extra $300 weekly unemployment benefit in advance from June to July (the other half of the states will expire in early September), the demand for jobs from residents has risen recently. This is reflected in The number of initial jobless claims continues to decline. In the future, as “herd immunity” approaches, the alleviation of the epidemic will allow the catering, leisure and tourism industries to open up more comprehensively, and at the same time alleviate residents’ worries about employment risks. Overall, we believe that the prospects for the recovery of the US job market are more optimistic.

The results of the April Job Vacancies and Labor Flow Survey (JOLTS) released by the US Bureau of Labor Statistics on June 8 showed that the number of job vacancies in April exceeded the 9 million mark, reaching a record high of 9.286 million. The number of independent resignations in April was 3.985 million, a record high. The number of unemployed persons in April was only 526,000 more than the number of vacancies, down from 1.4 million in March. The employment rate in April was 4.2%, the same as in March.

As of the week of June 5, the number of initial applications for unemployment benefits in the United States fell to 376,000, the previous value of 385,000, maintaining a decline for 7 consecutive weeks. As of the week of May 29, the number of continued jobless claims dropped from 3.757 million to 3.499 million, but it was still twice the level before the epidemic.

US consumer confidence and expectations continue to improve. The Consumer Confidence Index of the University of Michigan in the United States was 86.4 at the beginning of June, which was higher than the expected value of 84.4, and was significantly higher than the final value of 82.9 in May. We observe the difference between the consumer expectations index and the status quo index. The figure in June was -6.8, which is the third time it has risen above -10 since April 2020 and October 2020. As the “herd immunity” approaches and The job market has recovered, and American consumers’ expectations for the future have improved significantly.

In the past week, the number of Fed’s overnight reverse repurchases continued to climb and hit record highs continuously. On June 11, the overnight reverse repurchase of Treasury bills amounted to US$547.81 billion, which was US$2.57 trillion for the entire week and US$1.85 trillion the previous week. And the historical peak usually occurs at the end of the month, and the jump in this number at the beginning of June is really rare. Excess liquidity in the U.S. money market has continued to push down the overnight general secured repo (GC Repo) interest rate to close to 0%, which has triggered concerns about “negative interest rates” in the market. There is a view that at the upcoming June interest rate meeting, the Fed may slightly increase the reverse repo interest rate and excess reserve interest rate to control the demand for reverse repo.

2. European economy: The European Central Bank intends to significantly accelerate the pace of PEPP bond purchases

On June 10, the European Central Bank announced its June interest rate resolution, maintaining the three key interest rates unchanged (the main refinancing, deposit facility interest rates, and marginal lending rates are 0.00%, -0.50%, and 0.25%, respectively), in line with market expectations. The European Central Bank promised to significantly speed up the purchase of the Emergency Anti-epidemic Bond Purchase Program (PEPP) from June to September. “Significantly higher than the first quarter”, reiterating that PEPP will continue at least until the end of March 2022, and maintain the total size of 1.85 trillion euros unchanged; will continue to purchase debts of 20 billion euros per month in accordance with the Asset Purchase Plan (APP); will reinvest The maturity of PEPP bonds will last at least until the end of 2023. In comparison, the asset gap between the European Central Bank and the Federal Reserve has narrowed significantly since April. In the future, the pace of PEPP bond purchases will accelerate or further narrow the gap, and there may be devaluation pressure on the euro against the U.S. dollar.

At the same time, the European Central Bank also raised the euro zone GDP growth rate and CPI index forecast for 2021-2022. The GDP of the Eurozone is expected to grow by 4.6% in 2021, compared with the previous forecast of 4%; GDP growth in 2022 is expected to grow by 4.7%, which was previously expected to grow by 4.1%; the GDP growth forecast in 2023 is maintained unchanged at 2.1%.Expected In 2021, the Eurozone CPI is 1.9%, which was previously expected to be 1.5%; the CPI is expected to be 1.5% in 2022. Previously expected to be 1.2%; maintain the 2023 CPI forecast at 1.4% unchanged. The President of the European Central Bank, Lagarde, gave a partial speech. Emphasizing that premature tightening of monetary and fiscal stimulus will pose risks to economic growth and inflation, saying that inflation expectations will rise in the second half of 2021, but upward pressure is limited, and the temporary factors behind inflation have risen.

3. Overseas epidemic situation and vaccine tracking: Asian epidemic situation begins to ease gradually

The global epidemic has improved, As of June 11, a total of 176 million people have been diagnosed in the global new crown, and the cumulative global growth rate of confirmed diagnoses has fallen in the past week (1.5%, previous value 1.8%).

The epidemic in Asia has gradually eased, and the number of new cases in Taiwan has dropped. The daily increase in cases fell to less than 300. The cumulative increase in confirmed diagnoses in the past week was 19.2%, which was a significant decrease from the previous value of 36.9%. However, the daily number of new deaths in the past week was more than 20, and the mortality rate was much higher than the global average. Some experts worry that the decline in new diagnoses is related to the limited testing capabilities. The three Southeast Asian countries-Vietnam (20.4%, previous value 29.6%), Thailand (10.4%, previous value 18.6%) and Malaysia (7.2%, previous value 9.8%) have also seen an improvement in the cumulative increase in confirmed diagnoses.

India has entered the “Unblock 1.0” stage, This week, the cumulative increase in confirmed diagnoses fell to 2.3% (previous value 3.5%). The number of confirmed cases in India surpassed 100,000 for the first time in early April and continued to climb. The highest number was 410,000 in a single day. It has now fallen below 100,000 for 5 consecutive days. The Indian government has been impatient on June 7. Take risks” to carry out large-scale unblocking.

In terms of global vaccines, According to Bloomberg statistics, as of June 12, Beijing time, 178 countries around the world have received more than 2.3 billion doses of vaccine, and the global average daily dose exceeds 35.7 million doses.

In Europe, The EU’s cumulative vaccination volume is nearly 292 million doses, and the average daily vaccination volume in the past week has exceeded 4 million doses/day (previously 3.55 million doses/day). The vaccination rate is second only to mainland China in the world. The UK has vaccinated over 70 million doses, covering 52.6% of the population.

In the United States, At present, the United States has injected more than 300 million doses of vaccine, and 52% of people have received at least one dose, and the vaccination rate continues to maintain about 1 million doses per day. If the current vaccination rate is followed, the Biden administration’s vaccination target-70% of adults will receive at least one dose of the new crown vaccine before July 4-may not be completed on time.

In Asia, The daily vaccination in India exceeds 3 million doses (previously 2.71 million doses), a record high. Thailand has fully launched the new crown vaccination on June 7. Thailand has approved vaccines such as China’s Coxing and AstraZeneca, and will provide Thailand with 6 million doses of new crown vaccine in June. There is still no significant progress in the vaccination situation in Taiwan, China, which may restrict the prevention and control of the epidemic.

2. Global asset performance

1. Global stock markets-Sino-US growth sectors led global gains, S&P 500 hit a new high

In the past week (as of June 11), the US and China growth sectors led the world, with the Nasdaq and A-share ChiNext stocks rising 1.8% and 1.7% respectively. The U.S. S&P 500 index rose 0.4% for the entire week, closing at 4,239.18 and 4,247.44 on June 10 and 11, respectively, exceeding the record of 4,32.60 on May 7 and breaking a new record high. The recent fall in market inflation expectations has alleviated concerns about “killing valuations”, and global risk appetite remains high. On the other hand, both the Chinese and American value sectors fluctuated. The Dow Index and the A-share CSI 300 fell 0.8% and 1.1%, respectively. The MSCI Europe Index rose 1.1%, outperforming MSCI Emerging Markets (down 0.0%) and Asia Pacific (down 0.1%). Russia’s RTS (up 1.9%, previous value up 2.7%) has been continuously boosted by higher oil prices recently.

2. The global bond market-10-year U.S. bond yields fell below 1.5, and the fall in inflation expectations is the key driver

In the past week (as of June 11), interest rates on medium and long-term US bonds have fallen sharply, with 5-year, 7-year, 10-year and 30-year periods falling by 2bp, 7bp, 9bp and 9bp respectively. Among them, the 10-year U.S. bond interest rate fell below 1.5% for the first time since March 3, and closed at 1.45% and 1.47% on June 10 and 11, respectively. The fall in inflation expectations is the key driver to increase the demand for U.S. Treasuries. In the 9bp of the 10-year U.S. bond interest rate decline, the decline in inflation expectations contributed 8bp, and the fall in real interest rates only contributed 1bp. In addition, as shown by the Fed’s overnight reverse repurchase data, ample market funds have also increased the demand for U.S. debt to a certain extent.

In the past week (as of June 10), US corporate bonds (especially high-yield grades) continue to be sought after, The interest rate of AAA grade corporate bonds fell by 6bp, the BBB grade fell by 16bp, and the CCC grade and below fell by 22bp. This reflects the strong market preference of the bond market, and funds are actively seeking higher-yielding bond products. The 10-year China bond interest rate rose by 12.5bp. Against the background of falling U.S. interest rates, China-US bond spreads have risen significantly.

3. Commodity market-oil prices continue to rise, and prices of black products experience fluctuations

Crude oil prices continued to rise in the past week. WTI crude oil and Brent crude oil futures prices rose by 1.9% and 1.1% respectively. On June 11, the price per barrel closed at US$70.91 and US$72.69, respectively. The outlook for the global epidemic and vaccines continues to be clear, and oil-producing countries are more optimistic about global crude oil demand. The OPEC monthly report on June 10 showed that crude oil production in May was 25.463 million barrels per day, and in April it was 25.073 million barrels per day. OPEC still believes that oil demand will recover strongly in 2021. Based on the assumption that the world economy will grow by 5.5% in 2021 and the impact of the epidemic will be basically contained in the second half of the year, OPEC predicts that oil demand will increase by 5.95 million barrels per day this year, an increase of 6.6%. . It is estimated that the average daily demand for OPEC crude oil in the second half of 2021 will reach 29 million barrels, while the organization’s average daily output is only 25.46 million barrels. but, From the perspective of WTI crude oil inventory levels, although inventories have fallen significantly recently, close to the low level in late February this year (about 1.1 billion barrels), they are still 20-30 million barrels higher than the pre-epidemic level.

In terms of other commodities, COMEX gold fell 0.7%, silver rose 0.9%, and copper rose 0.2%. The prices of oil and poultry in the CRB commodity index rose sharply. Domestic black commodity futures prices experienced volatility, first falling and then rising. On June 11, the prices of rebar and iron ore per ton closed at 5,245 yuan and 1214.5 yuan, respectively, exceeding the rebound peak level on June 3.

4. The foreign exchange market-the US dollar index rose above 90.5, and the renminbi strengthened against the US dollar “against the trend”

In the past week, the U.S. dollar index fell first and then rose. It jumped from 90.05 to 90.51 on June 11, exceeding 90.50 on June 3 and the highest since May 13. It should be noted that the rebound of the U.S. dollar is not due to the market’s early expectations of Taper or interest rate hikes, but more from the expectations of the European Central Bank’s expansion of the balance sheet. On June 10, the European Central Bank’s decision on interest rates meeting was a pigeon and announced that it will speed up bond purchases. The pace of table expansion and the timing of Taper are likely to be earlier than the European Central Bank. In addition, the recent decline in initial unemployment claims and the fall in inflation expectations may also marginally increase market confidence in the U.S. economy.

Against the backdrop of a strong US dollar, the yuan still rose 0.34% against the US dollar. Since February this year, the euro against the pound has been flat and has maintained a narrow range. The current price of the euro against the pound is still higher than the level before the epidemic. Since late May, the price of Bitcoin has fluctuated in the range of US$34,000 to US$40,000.

Huawei reiterated that it did not make car concept stocks fell across the board

editor — Thu, 17 Jun 2021 10:10:08 +0000

Every reporter: Liu Ling Every editor: Chen Junjie
Since Huawei announced its entry into the smart car industry, its every move has been a hot spot in the market.

On May 19, there were media reports that Huawei was trying to acquire the electric vehicle division of local automakers, including seeking to control the electric vehicle brand of BAIC Blue Valley New Energy Technology-Arcfox ARCFOX. And just the day before, Huawei just announced new personnel adjustments and appointed Yu Chengdong as the CEO of BU, a smart car solution. Therefore, as soon as the news of Huawei’s stake in BAIC Jihu came out, the outside world was speculating whether this was the first “fire” after Yu Chengdong took office. However, Huawei quickly refuted the rumors and said there was no such incident. On May 24, Huawei issued a “Statement on Huawei Not Building Cars” (hereinafter referred to as the “Statement”) stating, “The company spokesperson has repeatedly clarified the false rumors about Huawei building cars. Today, we To reiterate: Huawei does not build cars. This long-term strategy has been made clear in 2018, and nothing has changed.” Data source: Dongcai Choice, China Automobile Association, IDC Yang Jing drawing Huawei quickly refutes rumors Huawei stated in the “Statement”: “We believe that what the industry needs is not Huawei branded cars, but Huawei’s accumulated ICT technology capabilities for more than 30 years to help car companies build future-oriented cars, that is, to provide car companies with Intelligent networked auto parts based on Huawei’s ICT capabilities.” In fact, Huawei has repeatedly stated its position in public on the issue of “Huawei does not build cars.” At the Huawei 2020 performance conference on March 31 this year, Hu Hou, then Huawei’s rotating chairman, said in response to a reporter’s question that Huawei is positioned as a supplier of smart auto parts in the Internet of Vehicles, car cloud, smart driving and other fields. To make competitive products, the goal is to help auto companies “build good” cars and build “good cars.” Subsequently, at the Huawei Global Analyst Conference on April 12, Huawei’s rotating chairman Xu Zhijun reiterated that “Huawei does not build cars.” He said frankly that Huawei had talked with many large automakers in Japan, Germany, and China before, and found that what they needed was not a Huawei brand car, but Huawei’s ICT software capabilities, which could help them build and sell good cars. At that time, Xu Zhijun revealed that Huawei had selected three car companies, BAIC, Changan and Guangzhou Automobile, as strategic partners to support them in building their respective sub-brands. Cars that use Huawei’s autonomous driving solution can only use the HI logo with Huawei’s authorization, which represents Huawei Inside. In terms of car sales, Huawei chose to cooperate with Jinconcelis, a subsidiary of Chongqing Xiaokang Group. Huawei stated in the “Statement” that in this cooperation, Huawei has become a supplier of electric components for Cyrus SF5 and HiCar cockpit components. At the same time, in order to solve the problem of survival of Huawei authorized mobile phone retail stores in the case of a significant reduction in Huawei mobile phones, Huawei is supporting some retail stores to sell this car, and retail stores can obtain corresponding revenue. Xu Zhijun said bluntly that the automobile industry is one of the most disruptive industries in the next decade, and it is also the business that Huawei currently values most. “There are 30 million vehicles in China each year, and there will be more in the future. Even if we only do the Chinese market, it is enough to get an average income of 10,000 yuan from each vehicle each year. Therefore, after media reports on May 19 that Huawei was trying to acquire the electric vehicle division of a local automaker, including seeking to control the electric vehicle brand of BAIC Blue Valley New Energy Technology-Arcfox ARCFOX, Huawei quickly refuted the rumors, saying that there was no such thing. thing. Huawei’s auto concept stocks fell across the board After Xu Zhijun announced that Huawei would cooperate with BAIC, Changan and GAC, the stock prices of BAIC Blue Valley, Changan Automobile and GAC Group rose sharply. Among them, the cooperation between Huawei and BAIC was the first to be exposed. On April 6, the official Weibo of Huawei Smart Car Solutions released a dynamic, showing that Huawei and Jihu Automobile will release a new generation of smart luxury pure electric cars on April 17th-Alpha S, the official Weibo of Jihu Automobile Simultaneously published an article called “See you in Shanghai. It is understood that the Polar Fox Alpha S Huawei HI version is the first luxury smart electric car with the HI logo. It has the highest level of Huawei’s automatic driving level. It is equipped with a super central supercomputing ADCSC, 3 lidars and many sensors. On the second day (April 18) that Huawei cooperated with BAIC to launch the Alpha S Huawei HI version, Huawei released the “Octopus” autonomous driving platform and other car and machine products. On April 21, Huawei further announced its participation in the downstream sales of Cyrus. Cyrus Huawei Smart Selection SF5 will be stationed in the Huawei Mall and the Cyrus Experience Center. In addition, on April 23, Cyrus announced that Huawei’s smart selection SF5 has been sold for two days and orders have exceeded 3,000 units. Huawei’s intensive actions in the field of smart cars have almost led the hot spots of the entire automotive industry during this period. With the blessing of Huawei Automotive Concept, the stock prices of BAIC Blue Valley, Changan Automobile, Guangzhou Automobile Group, and Xiaokang have soared. At that time, there were rumors that Huawei might participate in BAIC Blue Valley or Xiaokang shares in the future. The capital market has been enthusiastic. Up to now, the share prices of BAIC Blue Valley and Xiaokang shares have doubled compared with the beginning of April. On May 24, Huawei’s “Statement” broke the speculation of the outside world. Emphasize that Huawei has not invested in any car companies so far. In the future, it will not invest in any auto companies, nor will it hold or participate in shares. Huawei said that all future talks about Huawei building cars or participating in the auto manufacturing industry are rumours and should not be trusted. As soon as this “Statement” came out, the “Huawei Auto” concept stocks fell across the board, and the decline further expanded in the afternoon. As of the close of May 24, BAIC Blue Valley and Changan Automobile have dropped their limits, while GAC Group and Dongfeng Motor have fallen by more than 4%. Daily economic news

Has become the hottest index this year, are junk stocks really popular?Many ST companies were investigated by institutions

editor — Thu, 17 Jun 2021 02:54:07 +0000

Three big mountains in the current market: liquor, new energy, and medicine have become the standard position allocation of institutions. The larger the market value and the more institutions, the tighter the group. But this year, the style of the institution has shifted partially, aiming at the small and medium market value field, and what is more, looking at ST stocks. According to the ST sector index in wind, since the low point in February this year, the cumulative increase has reached 36.28%, ranking among the top three major sectors.

From the perspective of subdivided stocks, the gains are even more amazing. Pull the timeline to look at the gains. Stocks that have doubled are everywhere. Three leading leaders: ST Shede (willing to wine), ST Zotye, and ST Rock.

And the wine industry is the leader of the ST sector’s surge. Since September last year, the company’s cumulative increase has exceeded 6 times, corresponding to a total market value of more than 70 billion.

The logic of capital speculation in the wine industry lies in two points: one is that it did not rise because the major shareholder was bad, and the valuation of the stock price plummeted after ST was underestimated. The adjustment strategy of the company’s management made the company’s performance start again, and it took off some time ago.

According to the first quarter report of 2021, the company’s operating income for the first quarter of 2021 was 1.028 billion yuan, a year-on-year increase of 154.21%; net profit was 302 million yuan, a year-on-year increase of 1031.19%. The 2020 annual report shows that the company achieved revenue of 2.704 billion yuan in 2020, a year-on-year increase of 2.02%; net profit was 581.1 million yuan, a year-on-year increase of 14.42%.

Another point is that the liquor sector continued to be sought after by funds in the second half of last year, which gave the willingness to the wine industry a good stock price environment. After all, the business model of liquor is the top class in the A-share consumer track field, enjoying a high valuation premium and institutional grouping. trend.

Therefore, under the leadership of the willing wine industry this year, the ST sector has set off a big market. The main logic is to focus on low valuations. After the bubble of group stocks is superimposed, some funds are looking for low valuations in other sectors to speculate. .

Moreover, from the recent institutional survey actions, last week, according to data, a number of ST companies received institutional research, including *ST Huaying, *ST Kodi, *ST Lion, *ST Zhongfu, ST Six companies, Senyuan and ST Xintong.

These companies focus on new energy, consumption and technology. From the perspective of ST Mengshi, one company mainly focuses on R&D, production and sales of various types of batteries. From 2017 to 2020, the net profit of *ST Mengshi is -1.39 respectively. 100 million yuan, 2.777 billion yuan, 152 million yuan, and 1.814 billion yuan. Only in 2019 due to debt restructuring exempted debt to achieve profitability, the company abbreviation was also changed from “ST Lion” to “ST Lion”.

However, since its audited net assets attributable to shareholders of listed companies at the end of the 2020 period are negative, on April 30 this year, the company once again “wears stars and hats.”

It is worth noting that the asset restructuring plan disclosed by *ST Lions in 2018 has not been completed until today, and there is still uncertainty about whether it can be successfully completed. *ST Kedi introduced that the reorganization of major shareholders is proceeding in an orderly manner; *ST Zhongfu stated that in the first quarter of 2021, due to the continuous rise in aluminum prices and the commissioning of the Guangyuan electrolytic aluminum project, the profit of the electrolytic aluminum business increased; it was also affected by the company and its subsidiaries. After entering the judicial reorganization, the suspension of interest accrual in accordance with the law affected the reduction of financial expenses and achieved profitability in the first quarter.The company’s debt restructuring is currently being carried out in an orderly manner

For ST stocks, the fundamentals of these companies are very poor. What can be seen is whether the company’s management can make substantial adjustments and changes, and then stay in the capital market, so that there is a gap in expectations, but for institutions, The survey is only to understand that if you want to build a large-scale position and buy, in fact, there is also the risk judgment of the institution itself.

Moreover, in addition to the recent attention of ST stocks by institutions, there are also several companies that have also been extensively investigated by institutions.

Survey of more than 150 institutions

According to Wind data, in the past week, more than 370 institutions including securities companies and fund companies investigated 124 A-share listed companies, covering dozens of subdivisions such as chemicals, machinery, electronic equipment, electronic components, and construction engineering.

Among them, Tuopu Group and Hairong Technology have received surveys from more than 150 institutions. However, these two companies have increased by more than 30%.

As a Tesla concept star stock, Tuopu Group is mainly engaged in the research and development, production and sales of rubber shock absorption products and sound insulation products in the field of automotive NVH (vibration, noise reduction and comfort control).

The technology and R&D level in the automotive NVH field ranks in the forefront of the country. It is one of the few domestic NVH parts suppliers with the ability to synchronize the research and development of the entire vehicle, and it is also the earliest domestic independent entry into the global vehicle supporting parts procurement system Brand auto parts manufacturer.

The latest performance shows that in the first quarter, revenue was 2.426 billion yuan, a year-on-year increase of 100.8%, profit attributable to the parent was 246 million yuan, a year-on-year increase of 116.4%, and net profit attributable to the parent after deduction was 240 million yuan, a year-on-year increase of 122.9%.

New orders promote performance, and the Tier0.5 cooperation model has already cooperated with new leading car-building forces such as RIVIAN, Xiaopeng, Weilai, and Ideal.

Hairong Technology is a professional company integrating R&D, production and sales of raw materials in the baking industry, including dozens of high-quality food raw materials in three categories, including non-dairy cream, non-dairy cream containing milk fat, jam, and chocolate. It already has two production bases in Shanghai, China and New Delhi, India. The current stock price corresponds to PE54.8 times.

In 2020, the total operating income will be 572 million yuan, a decrease of 2.04% year-on-year. In 2021, the total operating income will be 157 million yuan, +43.91% year-on-year; the net profit attributable to the parent in 2020 will be 87 million yuan, an increase of 13.18% year-on-year. In 2021, Q1 will be returned to the parent Net profit was 16 million yuan, a year-on-year increase of 323.76%; in 2020, net profit attributable to the parent after deduction was 83 million yuan, a year-on-year increase of 10.92%.

In terms of the market outlook, institutions have different views. Take Industrial Securities as an example: the world staged a “value stock bull market”. The Chinese market need not worry too much. A large amount of liquidity is still accumulated in the currency and bond markets, and global funds flow to the stock market. It also flows to emerging markets, of which China has benefited the most. Valuation is down and profitability is up. We continue to be optimistic about the main line of global recovery. It is recommended that the short-term performance is quickly implemented, rather than telling stories and speculating in expected industries and individual stocks.

In terms of specific directions, Industrial Securities recommends grasping three main lines: the first is the global recovery with rising volume and price of mid-upstream cyclical manufactured products; the second is the service-oriented consumption that has gradually recovered from the epidemic; the third is the main line of carbon neutrality.

Many shipping stocks ‘run’ on the sidelines of opportunities

Vũ Duy Bắc — Thu, 10 Jun 2021 04:17:09 +0000

The price of shipping services has increased continuously in recent years, but not all businesses in this industry benefit.

Container charges increased more than 4 times According to Drewry World, the container freight rate announced on May 27, 2021 for a 40-foot container from Shanghai (China) to Rotterdam (Netherlands) has increased to USD 10,174, up 3.1% from a week earlier and up 485% from a year ago. The global container freight rate index (which includes eight major routes) was up 2%, to $6,257 from a week earlier and 293% higher from a year ago. Freight rates are at their highest levels since 2011. Container freight rates are rising because demand is outstripping supply due to a shortage of 20- and 40-foot containers. In the context of consumer demand and the price of basic raw materials, commodities increased sharply, leading many businesses to increase stockpiling of goods, disruption from the congestion of the Suez Canal at the end of March 2021. Port congestion is causing delays and higher costs for shippers, while ocean carriers enjoy sky-high profits. According to the chairman of a seafood processing company, it is estimated that the freight rate of container ships from Vietnam to Europe has increased more than four times, from 1,700-1,800 USD/container to 7,000-8,000 USD/container compared to before the epidemic occurred. out. Freight rates to the East Coast of the United States have increased more than 1.7 times, from 4,500 USD to 8,000 – 10,000 USD/container. Opportunities are not spread evenly On the listed stock exchange today, the number of enterprises providing shipping services is relatively small. Enterprises such as Hai An Transport and Loading Joint Stock Company (code HAH), PetroVietnam Transportation Joint Stock Corporation (code PVT), Vietnam Shipping Joint Stock Company (code) can be mentioned immediately. VOS)… The shipping market share is still mainly in the hands of foreign enterprises. At PVT, in recent years, the business has continuously pursued a fleet rejuvenation strategy to increase business efficiency, by the end of 2020 owns a fleet of 34 ships. The company operates mainly in the field of transporting crude oil, oil products, transporting LPG…, products related to the parent company is the Vietnam Oil and Gas Group (PVN). Therefore, PVT is not able to decide on freight prices, leading to stable gross profit margin and no growth, although oil prices and freight rates have fluctuated in recent years. At VOS, as of December 31, 2020, the company owns a fleet of 12 ships with a total tonnage of 405,112 dwt, including 8 dry and bulk cargo ships; 2 product tankers and 2 container ships. In addition, the enterprise also periodically leases a number of ships to maintain regular fleet operations of 12-14 ships. VOS’s fleet operates regularly in Southeast Asia, Northeast Asia, West Africa, Australia, South America… However, the disadvantage of VOS is that the fleet is quite old and has not been renewed due to its financial potential. limited, while import-export businesses often require larger shipments and prefer new generation fleets. HAH owns this advantage, when continuously investing in new ships from 2014 up to now. The Company’s fleet includes 8 ships, serving both domestic and international routes. At the shareholders’ meeting in 2021, HAH’s Board of Directors shared that they continue to plan to invest in more fleets to increase the number of domestic flights, and maintain and develop 2 import and export cargo trips to Hong Kong and Singapore. . In the first quarter of this year, HAH recorded revenue of 359 billion dong, profit after tax of 85.5 billion dong, up 28.4% and 174% respectively over the same period last year. Gross profit margin increased sharply from 19.2% to 27%. After the first 3 months of the year, HAH has completed up to 54.1% of the year’s profit plan. The business said that profit growth was positive in the first quarter of 2021 due to the fact that sea transport activities have started with positive signs and increased transportation demand from the last 6 months of 2020. Along with the company’s investment in the HA View vessel in August 2020, the output of Hai An fleet increased by more than 50% compared to the same period last year. The increase in fleet volume leads to an increase in the output of port operations and depots. Besides, the increase in freight rates and the decrease in raw material prices also had a positive impact on profits.

Trend of giving lovers stocks instead of flowers and gifts in Korea

MAI AN — Sun, 16 May 2021 20:18:06 +0000

Many young people from the roots of ginseng consider stocks of large companies as gifts to show their affection to their loved ones.
This trend emerged in South Korea around Christmas 2020, when Shinhan Investment Corp launched “stock gift cards” on KakaoTalk – the popular messaging app in the country – and is growing in popularity, according to reports. Insiders.

This idea is said by many to be inspired by rapper Kanye West’s gift to Kim Kardashian for Christmas 2017: a series of shares of Disney, Adidas, Netflix, Amazon, Apple. Users do not need to be too financially savvy, just create a brokerage account and register for a gift card code. Stock gift cards are popular among young Koreans. Photo: Sedaily. According to the statistics of Chosun Ilbo , Shinhan Investment has sold more than 20,000 stock gift cards since the program’s launch, with buyers mostly in their 20s and 30s. Currently, Tesla is the most bought stock for gifts in South Korea, followed by Apple, Starbucks and Netflix, according to Straight News . Jung Seung Hyun (23 years old, student) said he gave his girlfriend 4 stock gift cards on the occasion of her birthday in April. “I think she appreciates this gift. It may not be as romantic as traditional gifts, but it’s practical and I’m helping her invest,” Jung said. Jung added that his girlfriend initially thought the gift was “a scam” but also signed up for an account after being explained by her boyfriend. The stock gift card is also a gift that designer Yang Ga-in (28 years old) intended to give her boyfriend. She describes the other half as “crazy fan of Elon Musk”. “I’ll also bake more cookies for him. However, he’s a very down-to-earth person, so I think without saying it, he’d appreciate stocks, a long-term investment, more. My cake, which can be eaten in 2 minutes,” Yang shared.

Forget Bitcoin, these three stocks may become investors’ “new wall heads”?

editor — Tue, 11 May 2021 15:53:05 +0000

Author: Sean Williams

For more than a century, the stock market has been the largest wealth creator on the planet. Although the frequency of stock market crashes and adjustments is quite high, in the long run, the market’s major indexes have easily outperformed other assets and commodities. But when Bitcoin and other cryptocurrencies made their debut, things changed. The enthusiasm surrounding cryptocurrency, coupled with Bitcoin’s recent all-time high of nearly $65,000, paved the way for Coinbase Global, one of the most anticipated IPOs of the year last week. But I still recommend that you invest your money in the following three stable companies with obvious competitive advantages instead of investing in Coinbase. Facebook Don’t let its scale fool you, because the social media giant Facebook is still in the early to mid-stage of its growth, which means that patient investors still have a lot of room for growth. As of 2020, the company has 2.8 billion monthly active users visiting its website of the same name, and another 500 million unique visitors to its Instagram or WhatsApp, which means that 3.3 billion people visit Facebook every month. Now, things have become more interesting. Although Facebook brought in $84.2 billion in advertising revenue last year, almost all of it came from the website of the same name and Instagram. As of now, neither WhatsApp nor Facebook Messenger has achieved meaningful monetization. And when Facebook gets some form of important profit from these very popular social platforms, its cash flow will soar. Also, don’t ignore the earning potential beyond Facebook advertising. It will launch its own cryptocurrency sometime this year, which may stimulate the growth of Facebook payments, and people are also very interested in its virtual reality Oculus devices. With a growth rate of more than 20% and a price-earnings ratio of slightly higher than 1, Facebook is still a sought-after item. Teladoc Health The second good investment is to buy the health care stock Teladoc Health. It is conceivable that 2020 will be an up-and-coming year for this virtual medical service provider. It processed nearly 10.6 million virtual visits on its platform, up from 4.14 million in 2019. Telemedicine provides benefits up and down the medical treatment chain. It brings great convenience to patients, allowing doctors to pay close attention to high-risk patients who might otherwise not be able to visit the hospital or doctor’s office frequently. More importantly, the fee for virtual visits is lower than for office visits. In early November, Teladoc acquired Livongo Health, a leading applied health signal company, to further differentiate itself. Livongo collects a large amount of data on patients with chronic diseases and uses artificial intelligence to send tweets and tips to its members. It has registered more than 500,000 diabetes members, and aims to turn its attention to patients with high blood pressure or those who have problems with weight control. In other words, Livongo’s potential patient population includes a large portion of the adult population in the United States. Teladoc Health has all the necessary tools to become a giant in ten years. Sea Limited The third stock is Sea Limited, headquartered in Singapore. The beauty of Sea is that it has three extremely fast-growing operating segments. First, the company’s digital entertainment division generates most of its earnings before interest, taxes, depreciation and amortization (EBITDA). In 2020, as people stay at home, the company’s quarterly active gaming users increased by 72% to nearly 611 million. At the same time, the number of paying game players increased by 120% to more than 73 million. From these numbers, it is obvious that Sea’s games have resonated with users all over the world. However, through the e-commerce platform Shopee can see a bigger growth story here. Shopee’s target is Southeast Asia, South America and Latin America and other emerging markets. Total orders in 2020 will increase by 133% to 2.8 billion U.S. dollars, and the total value of all merchandise sales will increase by 101% to 35.4 billion U.S. dollars. At present, Sea’s Shopee platform has attracted the attention of Wall Street and investors. In the end, the company’s mobile wallet department processed $7.8 billion in payments and had more than 23 million paying users by the end of the year. Considering the lack of banks in many areas where Sea operates, its digital financial services division may become an important money maker. According to Wall Street’s forecasts, by 2024, Sea’s sales will exceed four times, which is a stock that investors should own. Source of this article: US Stock Research Agency

US stocks collectively closed lower: the Nasdaq fell nearly 1%, Tesla fell more than 3%

editor — Mon, 26 Apr 2021 19:50:08 +0000

Sino-Singapore Jingwei Client, April 23rd, on Thursday, Eastern Time, the three major U.S. stock indexes fell across the board.DowFell more than 300 points,NasdaqFell nearly 1%. In terms of individual stocks,TeslaFell more than 3%,JPMorganFell more than 2%.

Screenshot source: Wind Specifically, as of the close, the Dow fell 321.41 points, or 0.94%, to 33815.90 points; the Nasdaq fell 131.81 points, or 0.94%, to 13818.41 points;S&P 500The index fell 38.44 points, or 0.92%, to 4134.98 points. U.S. stocks’ large technology stocks fell across the board,appleFell 1.17%,AmazonFell 1.58%,NetflixFell 0.02%,GoogleFell 1.13%, Facebook fell 1.64%,MicrosoftFell 1.31%. Bank stocks fell across the board, JPMorgan Chase fell 2.06%,Goldman SachsFell 1.29%,CitiDown 1.16%,Morgan StanleyFell 1.26%,Bank of AmericaFell 0.9%,FuGuo bankFell 1.23%. Energy stocks fell across the board,Exxon MobilFell 1.25%,ChevronFell 1.76%,ConocoPhillipsFell 1.14%,SchlumbergerFell 1.75%,Occidental PetroleumFell 1.47%. Popular Chinese concept stocks have mixed ups and downs.Big new energyUp 14.14%,TouchPal Technology (CTK.US)Up 9.86%,RenrenUp 8.28%,1 Medicine NetUp 7.11%,PinduoduoUp 3.61%,JingdongUp 0.52%,Sina WeiboUp 0.51%;Lots of roomsDown 11%,Learn fromFell 9.17%,Hong En EducationFell 6.55%,Canaan TechnologyFell 4.43%,AliFell 0.07%,Baidu GroupFell 0.04%. New energy auto stocks went up and down mixed,NIO (NIO.N)The car rose by 1.75%,Xiaopeng MotorsFell 0.74%,Ideal carRose 1.31%. In the news, it was reported that US President Biden proposed to impose a capital gains tax of up to 43.4% on the wealthy. In European stock markets, the London Stock Market “Financial Times” average price index of 100 stocks closed at 6938.24 points, an increase of 42.95 points or 0.62% from the previous trading day. The CAC40 index of the Paris stock market in France closed at 6,267.28 points, an increase of 56.73 points or 0.91% over the previous trading day.Frankfurt Stock MarketGerman DAX IndexIt closed at 15320.52 points, an increase of 124.55 points or 0.82% over the previous trading day. In terms of international oil prices, West Texas Intermediate (WTI) futures for June delivery on the New York Mercantile Exchange rose 8 cents, or 0.1%, to close at $61.43 per barrel; LondonIntercontinental Exchange (ICE)The price of Brent crude oil futures for June delivery rose 8 cents, or 0.1%, to close at $65.40 per barrel. In terms of international gold prices, the most active June gold futures price on the New York Mercantile Exchange gold futures market fell by 11.1 U.S. dollars from the previous trading day to close at 1,782 U.S. dollars per ounce, a decrease of 0.62%. As of the end of the New York trading session, the US dollar index, which measures the US dollar against six major currencies, rose 0.20% to 91.3389. (Zhongxin Jingwei APP)

Original U.S. stocks dived, Biden took action on the rich, and plans to tax over 40%! The latest layout of public funds on these tracks (with shares)

editor — Mon, 26 Apr 2021 03:57:09 +0000

The disclosure of the 2021 quarterly report of public funds officially ends.

In the early trading on April 23, the three major stock indexes fluctuated slightly, and individual stocks in the two cities fell more and rose less. 3184 individual stocks fell, and market sentiment was weak. As of the close, the Shanghai Composite Index rose slightly by 0.05%, the Shenzhen Component Index rose 0.75%, and the ChiNext Index rose 1.67%.

In terms of sector hotspots, the healthcare sector rose sharply, with Yihua Health, Dabo Medical and Gongdong Medical’s daily limit, and Aier Ophthalmology rose 11.74%. Resource stocks and technology stocks weakened, and individual stocks in the coal sector and digital currency sector led the decline. Beijing Capital bought 5.318 billion yuan in early trading, including 2.86 billion yuan in Shanghai Stock Connect and 2.457 billion yuan in Shenzhen Stock Connect.

In early trading, institutional holdings picked up. Among the leading stocks in the industry, the leading pharmaceutical companies have gained the highest momentum. Aier Ophthalmology rose 11.74%, Mindray Medical rose 5.97%, and WuXi AppTec rose 5.58%. Group stocks such as Haitian Flavour, Midea Group and Oriental Yuhong rose more than 3%.

U.S. stocks dive in the market, Biden wants to tax the rich

According to Bloomberg News, not only for companies, the Biden government also plans to increase taxes for high-income groups. According to people familiar with the matter, US President Biden will propose to nearly double the capital gains tax rate for the wealthy to 39.6%. Together with the existing investment income surcharge, this means that the federal tax rate for investors may be as high as 43.4%.

The person, who asked not to be named, said that the plan will increase the capital gains tax rate for people with an income of $1 million and above from the current 20% to 39.6%. The plan has not yet been made public. Biden is expected to announce this proposal next week as part of the tax increase to fund social expenditures in the upcoming “American Family Plan.” Then White House Press Secretary Jane Psaki said that Biden believes that the expenditures (planned by American families) may come from the richest people, but the plan has not yet been finalized.

As soon as the news came out, U.S. stocks plunged during intraday trading. The Dow once fell more than 400 points, closing down 0.94%, the Nasdaq fell 0.94%, and the S&P 500 index fell 0.92%. Although the news is still uncertain, the market reacted quite violently. On the one hand, the market is worried that the wealthy will dump a large amount of stocks at the capital gains tax rate, creating panic.

Public fund first quarter report disclosed

Yesterday, the disclosure of the 2021 first quarter report of public funds officially ended . Since the Spring Festival, the A-share market has adjusted downwards as a whole, and most of the holdings of public fund holdings have pulled back sharply, and many of the new foundations who entered the market in January and February have faced substantial losses. According to statistics from Tianxiang Company on April 22, due to the A-share market pullback, the overall loss of public funds during the first quarter of this year exceeded 210 billion yuan; in the fourth quarter of last year, the overall profit of public funds reached 820 billion yuan.

The Securities Times·Databao sorted out the heavy holdings of A-shares of public funds in the first quarter. From the perspective of the total market value of the holdings, compared with last year’s annual report, the top ten heavyweight stocks have not changed much. Kweichow Moutai and Wuliangye hold the first and second positions in public holdings. Hikvision gained a large number of public funds to increase positions and entered the top three positions. China Merchants Bank gained 18.462 billion yuan in public funds in the first quarter, and it newly entered the list of the top ten heavy stocks.

In terms of different industries, bank stocks ranked first in the amount of public fund increase in the first quarter, and the market value of holdings increased by nearly 70 billion yuan. In addition to China Merchants Bank, the market value of public equity funds held by Industrial Bank and Ping An Bank increased by more than 10 billion yuan. In terms of performance, bank stocks all had good returns in the first quarter, with an average increase of 6.26%, 13 bank stocks rose by more than 10%, and the Bank of Nanjing and Postal Savings Bank rose by 25.25% and 22.80% respectively in the first quarter.

Other industries that have a lot of increased positions include the pharmaceutical and biological, electronic, and chemical industries, and the total market value of holdings has increased by more than 30 billion yuan. In the first quarter, the increase of public funds in general tended to pro-cyclical and undervalued stocks, and the enthusiasm for the long-term track of medicine, food and beverage, etc. remained unabated.

While public funds increased their positions in bank stocks in large numbers, the market value of non-bank financial industry positions decreased the most, and holdings of heavy stocks decreased by 34.933 billion yuan. Other industries where the market value of holdings have decreased include electrical equipment and household appliances that have decreased by more than 10 billion yuan, and the market value of holdings of communications, media, computers, and national defense and military industries has decreased slightly.

Based on the statistics of changes in the market value of public fund holdings, there are 5 stocks each in the banking, electronics, and biomedical sectors among the top 20 stocks. The pharmaceutical and biological sector stocks include Zhifei Biotechnology, WuXi AppTec, Changchun High-tech, Meinian Health, and Kanglong Chemical. The electronic sector includes Hikvision, Weir, Sanhuan Group, Transsion Holdings, and Zhuoshengwei. In the first quarter, public fund plus positions rose by an average of 15.34%. Among them, Oriental Yuhong, Meinian Health, and Transsion Holdings rose by more than 30%.

China Merchants Securities pointed out that there are no obvious signs of collapse of public funds. The consumer sector, the food and beverage industry and the pharmaceutical industry are still the most important sectors and industries for public funds. The reason why active public funds have such “falling but not breaking up” results is related to the fact that the fundamentals of these group stocks have not significantly weakened. The high-growth white horse stocks are still the first choice of current public fund managers.

Early morning capital flows to these stocks

In the early trading, a total of 62 stocks received a net inflow of over 100 million yuan in main funds, of which BOE A received a net inflow of main funds of 1.073 billion yuan, which was the top , Rose 1.69% in early trading, Xiaokang shares, Kweichow Moutai, and Sungrow received a net inflow of more than 800 million yuan.

Xiaokang shares in the past five trading days received a total of 4 daily limits and 1 daily limit. The company previously issued a risk warning announcement, stating that the news report stated that the way for the company to expand the marketing channels of Cyrus was normal production with a third party (referring to Huawei). Operating cooperation, and reminded that the expected loss for 2020 is 1.38-17.8 billion yuan.

From an industry perspective, a large amount of the main funds flowed into the medical and biological, electrical equipment sectors in the early trading, and the net outflows from the computer, environmental protection and real estate sectors were the top ones. New energy vehicles have once again been favored by major funds, and Ganfeng Lithium, Tianqi Lithium, and Ningde Times have received a net inflow of more than 200 million yuan in major funds.

Li Daxiao: The sharp drop in US stocks affects the world! A shares stand proudly and breakthrough is imminent, I am very lonely to mention this point of view

editor — Sun, 25 Apr 2021 10:35:07 +0000

Yingda Securities chief economist Li Daxiao said that the three major US stock indexes fell sharply by nearly 1% overnight, affecting global stock market sentiment. As of 10:23, net purchases of northbound funds reached 2.172 billion, and the Shanghai Composite Index rose 11 points, an increase of 0.33. %, this is extraordinary. The A-share market has shown rare mavericks. my country’s economy grew by 18.3% in the first quarter, a record high. In the first quarter, GDP reached 25 trillion yuan. In the first quarter, the output value of industrial enterprises above designated size increased by 24.5% year-on-year, and the total retail sales of consumer goods increased by 33.9%. The epidemic situation in our country is well controlled, which is an important guarantee for economic growth. Chinese people are willing to travel on May 1st, and consumption will explode soon.

The semi-annual report forecast time has come again, and the performance factor is becoming more and more important. The performance growth factors of listed companies play a positive role in the market. Foreign investment variables are often a catalyst for A shares, and the long-term financial stabilization effect of domestic investment will play an increasing role. This is the basic market.

A larger increase comes from household savings, which is the long-term source of funds for China’s stock market. China’s stock market has been consolidating longer and longer, and the probability of changing the market has become greater and greater. The stock market proverb says that it should not fall, and the market outlook is bullish. Whenever the United States has fallen sharply in recent times, A-shares stand proudly, and perhaps a breakthrough is imminent. Of course only good stocks.

I think the probability of upward breakthrough is higher, of course it is just what I think. It is lonely and stressful to make this point, and it may be wrong, but that’s what I think.

Source: Sina.com

Shui Pi: “Talking about stocks and gold” trades time for space

editor — Sat, 24 Apr 2021 20:20:22 +0000

Shui Pi: “Talking about stocks and gold” trades time for space

Water skin/text

A-share dictatorships all kinds of objections.

Yesterday, Shuipi mentioned in the stock review that the current market trend is not falling when falling, and it should be bullish. Today, the Shanghai Stock Exchange Index gave us a little bit of color. At the close of the market, the Shanghai Composite Index fell by 0.23%. Although the decline was not large, it was enough to give us a slap in the face. Fortunately, the Shenzhen Component Index and the ChiNext are still in support. The Shenzhen Component Index rose 0.41% and the ChiNext rose 0.77%. So Shuipi’s judgment yesterday is actually half fulfilled today.

In fact, from the perspective of opening, the three major indexes opened higher today, which is in line with the logic that Shuipi said yesterday. But in the end, the Shanghai and Shenzhen stock markets went their separate ways. After the retreat and consolidation, the Shenzhen Stock Exchange rose all the way, the ChiNext, including the Shenzhen Component Index. However, the Shanghai Composite Index has been in a slump. Why is there such a scenario?

Mainly has a lot to do with today’s plate rotation. Today is the world of cyclical stocks again. Simply put, it is the market of coal flying and dancing. Yesterday’s “two bottles of wine” and bank stocks, which had a relatively large impact on the index, have entered a state of correction today. As a result, the Shanghai Composite Index was weakened, and a considerable part of bank stocks fell, which constituted a certain degree of suppression on the index.

From the perspective of trading volume, we can also see some signs. Today, the two cities totaled about 740 billion yuan. It should be said that at this point, the trading volume is still relatively sluggish, not enough to support the continued strength of the sector. Therefore, the current situation on the board is very uncomfortable. All transactions are uninteresting because they are not supported by volume.

Now whether it is the Shanghai Composite Index, the Shenzhen Component Index and the ChiNext, there are about 4,200 stocks that are traded every day, and the trading volume is only a little over 700 billion. In other words, the average daily trading volume of a stock is less than 200 million.

From a distribution point of view, there are 137 companies with a market capitalization of more than 100 billion, accounting for more than 30% of the total transaction volume. There are about 1,900 stocks in the two markets with a market value of less than 5 billion, and the trading volume accounts for 10% of the total trading volume, which is very reluctant. So Shuipi has always said that now stocks must focus on the big and let go of the small, and this is the reason.

Because the market value of stocks is too small, it is very difficult to get in and out of institutional funds, which is simply ignored. So it’s no wonder why companies with a market capitalization of less than 3 billion expect institutions to conduct research as a luxury. Because everyone feels that there is no need to look at stocks with a market value of less than 3 billion, and there is no room for institutions.

The reason is that the current trading volume is relatively low. For a long time, everyone has not seen the so-called fund explosion news. Shuipi believes that the issuance of funds is also more difficult now, so it is difficult to expect sustained performance of the index due to low turnover.

Now it’s basically a cowhide market pattern. Don’t be ecstatic when it rises. If it falls, there is no need to cry. The market will definitely look for a reasonable valuation range.

Now various institutions, especially funds, are reporting their positions in the first quarter, including QFII. In fact, you can see that there have been some adjustments in positions, and it is very obvious. In particular, the upward adjustment of positions in some Baotuan stocks last year, including Masukura in some financial stocks, will gradually take effect.

The hype span of fund holding stocks has also lasted for nearly two years. At the beginning, everyone was skeptical. Especially for the “two bottles of wine” in the liquor sector, Moutai was treated as a case at the beginning. It evolved into the market for the entire sector.

Shuipi believes that there will be funds with foresight in the next round of the market, and fund managers with foresight have made adjustments to their positions. Then began to deploy in some important strategic assets with low valuations. Finally, if we can get everyone’s response, it will form a new round of market.

If we can’t get everyone’s response, the market will continue to fluctuate and languish, waiting for the opportunity.

One sentence comment: trade time for space.

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Public funds increase their holdings of the top 50 stocks in the first quarter: centralized banks, information technology components and other fields

editor — Sat, 24 Apr 2021 11:11:09 +0000

On April 23, Capital State learned that the first quarterly report of public offerings in 2021 has officially come to an end. From the overall situation of active equity increase, the first quarter of this year favors the allocation of information technology, banking, and other sectors; from the perspective of heavy stocks, take the initiative Equity funds still favor the liquor sector. It is reported that as of the end of the quarter, the top ten heavyweight liquor stocks of public funds occupy three seats; in terms of increase and decrease in holdings, Hikvision is most favored by institutions as public funds in the first quarter. The largest increase in holdings of stocks, and some of the stocks that were heavily held in the previous period, have been drastically reduced, for example.

According to statistics from Tianxiang Investment Consulting, as of the end of the first quarter, the top ten major stocks of 3544 actively investing in partial-equity funds included in the statistics were: Kweichow Moutai, Wuliangye, Hikvision, China Freedom, Luzhou Laojiao, Mindray Medical, WuXi AppTec, Midea Group, Longji. Among them, Kweichow Moutai continues to be the largest stock in public funds. At the end of the first quarter, a total of 1,476 funds held Kweichow Moutai, holding a total of 69.937 million shares, an increase of 7,319,700 shares from the previous quarter; total fund holdings The market value is 140.503 billion yuan, an increase of 15.394 billion yuan compared to the market value of positions held at the end of the fourth quarter of last year. The stock rose 0.55% in the first quarter of this year.

It is worth mentioning that in addition to Kweichow Moutai, liquor stocks also include Wuliangye and Luzhou Laojiao in the list of the top ten heavy warehouse stocks. It is reported that at the end of last year, Wuliangye was the second-largest stock in public funds, and the position of Luzhou Laojiao rose one position from the seventh-largest to the sixth-largest stock. Among them, the total market value of the fund holdings of the two stocks is 101.561 billion and 46.302 billion respectively.

In addition to three liquor stocks, which continue to be in the top ten stocks list, there are also the top ten stocks of new funds such as Hikvision and WuXi AppTec. According to data from Tianxiang Investment Consulting, as of the end of the first quarter, there were 505 active equity funds holding Hikvision, an increase of 231 from the previous quarter, and the market value of fund holdings reached 61.230 billion yuan; while the active equity funds holding WuXi AppTec had a total of 505 active equity funds 474, an increase of 78 from the previous month, and the market value of fund holdings exceeded 40 billion yuan.

According to data from Tianxiang Investment Consulting, as of the end of the first quarter, the 50 stocks with the largest increase in active equity funds were mainly concentrated in several sub-sectors such as banking, information technology components, and biological products.

If there is an increase in holdings, there will be a decrease in holdings. In the first quarter, Luxshare Precision suffered a massive sell-off. According to data from Tianxiang Investment Consulting, at the end of the first quarter, a total of 222 active equity funds held Luxshare Precision, holding 49,303.06 million shares; and at the end of the fourth quarter of last year, Shigekura held as many as 627 Luxshare Precision Funds. The number of shares is also as high as 702,371,400 shares. It can be seen that there has been a sharp drop in the number of funds held and the number of shares held.

Biden’s “rich man tax” is coming?US stocks jumped 400 points, Bitcoin speculators panicked

editor — Sat, 24 Apr 2021 08:40:08 +0000

Friday, April 23

【Close News】

1, Thursday, Gold and silver enter the downtrend channel , Rebounded slightly in late trading. Spot gold hit a daily low of $1,777 during the U.S. market, and finally closed at $1,783.24 per ounce, down 0.56%; spot silver fell below the $26 mark during the day, and finally closed at $26.10 per ounce, down 1.52%.

2. The U.S. dollar index fluctuates and rises , It broke through the 91 mark in the day, and finally closed up 0.21% to 91.3. On Thursday, the U.S. five-year inflation-protected Treasury bond (TIPS) yield fell to a record low.

3. International oil prices rebounded slightly , As of the close, WTI crude oil futures closed up 0.96% to 61.64 US dollars per barrel; spot silver closed up 0.80% to 65.59 US dollars per barrel. CME Group (CME) raised the maintenance margin requirement for the June WTI crude oil contract from US$5,100 per contract to US$5,300 per contract, an increase of 3.9%.

4. The cryptocurrency market suffered a huge shock . Ethereum once surpassed 10% overnight and hit a record high of US$2,646. However, the risk sentiment in the U.S. market suddenly changed and all cryptocurrencies plunged. Bitcoin once fell below US$51,000 per coin, setting a new low of nearly a month; Ethereum also once exceeded the day. The high retracement exceeded $300.

5. U.S. stocks , Reported that US President Biden intends to propose a capital gains tax of up to 43.4% on the wealthy. US stocks fell sharply during intraday trading. The three major stock indexes fell more than 1%. As of the close, the three major indexes closed down across the board. Among them, the Nasdaq fell 0.94%, the S&P 500 fell 0.92%, and the Dow fell 0.94%.

6. European stocks continued the previous day’s gains , The whole line received red. Among them, the German DAX index closed up 0.92% to 15,335.60 points.

7. Hong Kong stocks , Hong Kong’s Hang Seng Index closed up 0.47% yesterday to 28755.34 points.

8. A shares continued to fluctuate and consolidate on Thursday , The three major stock indexes collectively opened higher in the early trading. After the opening, the Shanghai Composite Index fluctuated downward. The ChiNext Index and the Shenzhen Component Index performed relatively strongly. As of the close, the Shanghai Composite Index fell 0.23%, the Shenzhen Component Index rose 0.41%, and the ChiNext Index rose 0.77%. On the disk, sectors such as medical beauty, digital currency, consumer electronics, semiconductors, steel, food and beverage, and coal ranked among the top gainers, while sectors such as banking, tourism, and wine brewing were among the top decliners.

【International News】

1. According to CME “Federal Reserve Observation”: The probability of the Federal Reserve maintaining interest rates in the 0%-0.25% range in April is 95.6%, and the probability of raising interest rates by 25 basis points to the 0.25%-0.50% range is 4.4%. The probability of maintaining interest rates in the 0%-0.25% range in June is 87.9%, the probability of raising interest rates by 25 basis points is 11.7%, and the probability of raising interest rates by 50 basis points is 0.4%.

2. Biden is reported to be planning to levy a capital gains tax of up to 43.4% on the wealthy

According to people familiar with the matter, Biden plans to raise the capital gains tax rate for the wealthy by nearly double to 39.6% , Together with the existing investment income surcharge, means that the federal capital gains tax rate for investors will reach 43.4%. According to sources, the capital gains tax rate for people with an annual income of not less than US$1 million will be raised to 39.6%, far exceeding the current basic tax rate of 20%. Coupled with the 3.8% investment income tax rate to fund Obamacare, the capital gains tax level is higher than the highest salary tax rate. Biden is expected to release the proposal next week, and part of the income from the tax increase will be used for social expenditures in the “American Family Plan.”

3. Influenced by U.S. President Biden’s plan to nearly double the capital gains tax on the wealthy, Bitcoin fell by 8% at one point, approaching a one-month low . U.S. investors who invest in crypto assets (these assets have risen by about 80% since December last year), if they sell cryptocurrencies after holding them for more than a year, they already face the risk of capital gains tax. The Internal Revenue Service has also increased its taxation on the sale of encrypted assets.

4. In response to U.S. President Biden’s $2.25 trillion infrastructure package, senior Republicans in the Senate on Thursday proposed a total of 568 billion U.S. dollars of opponents. Focus on more traditional infrastructure such as roads and bridges , And did not include the increase in taxes on companies sought by the Democratic Party.

5. The White House issued an international climate financing plan, which is the first such plan of the US government. Focus on international climate finance . The plan mentioned that Biden plans to triple the scale of adaptive financing by 2024. And considering that the scale of climate financing for developing countries will be doubled by 2024. In addition, the United States will end international investment in the field of high-carbon energy. Biden will help financial companies make decisions when they consider climate factors.

6. The number of initial claims for unemployment benefits in the United States reached 547,000 from the week of April 17th, continuing to hit the lowest level since the week of March 14th last year. The analysis said that with the advancement of the goal of vaccinating an average of 3 million people in the United States every day, the growth of the job market should further accelerate.

7. Lynn Franco, Director of Economic Indicators of the American Advisory Council: Consumer confidence has risen to the highest level since the outbreak of the epidemic in March 2020. Consumers’ assessment of current conditions and short-term prospects has improved significantly, indicating that economic growth may further strengthen in the coming months. The renewed optimism of consumers has boosted their willingness to buy houses, cars and some high-priced goods. However, the rise in short-term inflation concerns is likely to be due to rising oil prices and may curb consumer willingness in the coming months.

8, The latest interest rate decision of the European Central Bank maintains the three key interest rates, the speed of bond purchases remains unchanged, and does not update economic forecasts. However, the European Central Bank confirmed that it will significantly accelerate the purchase of PEPP in this quarter. European Central Bank President Lagarde reiterated the European Central Bank’s very loose monetary policy stance that negative interest rates are an effective tool to provide stimulus. At the same time, he pointed out that the issue of reducing purchases of PEPP has not been discussed and it is too early to discuss reducing debt purchases.

9. Market news: According to a draft agenda, OPEC+ will stick to its originally announced plan to hold a full ministerial meeting and a joint ministerial monitoring committee (JMMC) meeting on April 28. The specific time is to be determined.

10. CME Group (CME) raised the maintenance margin requirement for the June WTI crude oil contract from US$5,100 per contract to US$5,300 per contract, an increase of 3.9%.

11. EIA natural gas report: As of the week of April 16, the total US natural gas inventory was 1,883 billion cubic feet, an increase of 38 billion cubic feet from the previous week, a decrease of 251 billion cubic feet from the same period last year, a year-on-year decrease of 11.8%, and a year-on-year decrease of 12 billion. Cubic feet, an increase of 0.6%.

12. The BDI index, known as the vane of commodities, has continued to soar recently, approaching a new high since 2010 . Many cyclical industry traders said that due to factors such as rising upstream raw material prices and better downstream demand expectations, inventory levels have been generally low since the beginning of this year, and turnover has accelerated. The cyclical characteristics of the market’s initiative to replenish inventory are obvious. The prices of bulk commodities continue to be strong, and the evolution of the future inventory cycle is an important driving factor affecting the trend of commodities.

【Industry Data】

1. Energy Bureau: Printing and distributing the “Guiding Opinions on Energy Work in 2021” . The main expected goal in 2021 is to reduce the proportion of coal consumption to below 56%; add about 200 billion kilowatt-hours of electricity to replace electricity, and the proportion of electricity to final energy consumption will reach about 28%; energy consumption per unit of GDP will be reduced by about 3% , The allocation of energy resources is more reasonable, and the utilization efficiency is greatly improved; the utilization rate of renewable energy such as wind power and photovoltaic power generation has maintained a high level, and the average utilization hours of cross-regional transmission channels have increased to about 4,100 hours.

2. IDC: In 2020, the global IaaS market reached 67.19 billion US dollars, a year-on-year increase of 33.9%. AWS, Microsoft, Alibaba, Google, and IBM are among the top five in the market, together occupying 77.1% of the market share. In 2020, the overall global public cloud service market will reach US$312.42 billion, a year-on-year increase of 24.1%; the overall market size of China’s public cloud services will reach US$19.38 billion, a year-on-year increase of 49.7%, the highest growth rate in the world. It is estimated that by 2024, the global share of China’s public cloud service market will increase from 6.5% in 2020 to over 10.5%.

3. Information and Communication Institute: In the first quarter, my country’s Internet investment and financing remained high overall, with a slight decrease from the previous quarter. The number of cases decreased by 2% from the previous month and increased by 52.5% from the same period last year; the total amount decreased by 8.9% from the previous month and rose by over 170% year-on-year.

4. Ministry of Industry and Information Technology: In March, software business revenue increased by 33.0%. In the first quarter, my country’s software industry completed a software business revenue of 19903 billion yuan, a year-on-year increase of 26.5%, an increase of 5.2 percentage points from January to February; the industry realized a total profit of 237.1 billion yuan, a year-on-year increase of 25.9%, an increase of 2.9 Percentage points.

5. Online car-hailing supervision information interaction platform: As of March 31, a total of 227 online car-hailing platform companies across the country have obtained online car-hailing platform operating licenses, and a total of 3.364 million online car-hailing driver licenses and 1.255 million vehicle transportation certificates have been issued across the country. In March, all online car-hailing platform companies registered a total of 100,000 newly registered compliant drivers and 61,000 newly registered compliant vehicles.

6. The Legal Work Committee revealed that the main content of the draft futures law includes six points: The system stipulates the futures trading, settlement and delivery systems; stipulates the basic systems for other derivatives transactions; establishes the protection system for the rights and interests of futures traders; regulates the operation of futures business institutions, futures trading venues, futures clearing institutions and futures service institutions; clarifies the supervision of the futures market management.

7. According to real-time statistics from Worldometers, as of 07:20 on April 23, Beijing time, The number of confirmed cases of the new coronavirus worldwide exceeded 145.29 million, reaching 145,293,269, and the number of deaths exceeded 3.08 million, reaching 3083,658. . Among them, the number of confirmed cases of the new coronavirus in the United States exceeded 32.66 million, reaching 32,665,038, and the number of deaths exceeded 584,000, reaching 584,176.

[Finance data and events of focus today]

①07:30 Japan’s core CPI annual rate in March

②14:00 UK retail sales monthly rate after March seasonal adjustment

③15:15 French manufacturing PMI initial value in April

④15:30 German manufacturing PMI initial value in April

⑤16:00 Euro zone manufacturing PMI initial value in April

⑥16:30 PMI for manufacturing and service industries in the UK in April

⑦21:45 US April Markit manufacturing PMI initial value

⑧21:45 US April Markit service industry PMI initial value

⑨22:00 The annualized total number of new home sales in the United States in March

⑩The total number of oil rigs from the United States at 01:00 the next day to the week of April 23

Concerned about the new tax policy of Mr. Biden, US stocks plunged

Nguyễn Thu (Theo CNBC) — Fri, 23 Apr 2021 20:00:09 +0000

The main indexes of US stocks fell sharply because investors were concerned about the new tax policy plans proposed by President Joe Biden.
US stocks turned to plunge in trading on April 22, after reports that US President Joe Biden plans to increase income tax on the wealthy,

Closing the session on Thursday, the Dow Jones dropped by 321.41 points (1%) to 33,815.90 points. This index sometimes bottomed out when it dropped to 420 points. The S&P 500 index lost its momentum at the beginning of the session and lost 0.9% at the close to 4,134.98 points. The Nasdaq Composite also fell 0.9 percent, to 13,818.41 points. The Dow Jones decreased to 321.41 points (1%) to 33,815.90 points at the close of the session on April 22. Photo: AP Bloomberg News on April 22 reported that President Biden is planning to raise surplus tax to increase capital to 43.4% for wealthy Americans. The proposal would raise the capital gains tax rate to 39.6 percent for those earning $ 1 million or more, up from the current 20 percent, according to Bloomberg News. Then, Reuters news agency and The New York Times also reported on this issue. Jack Ablin, founding partner and chief executive officer of Cresset Capital Management, commented: “Mr. Biden’s proposal doubled the capital surplus tax rate for those earning $ 1 million. That is quite a cost increase for long term investors. According to Ablin, a wave of sell-off on Wall Street is expected to appear this year if investors feel this proposal has a chance to become law next year. The bulls led the decline in Thursday’s trading. Shares of Tesla and Amazon lost 3.3% and 1.6%, respectively. Before the news of the proposed tax increase, the major indexes fluctuated slightly as investors waited for the series of business results reports that major technology companies are expected to release next week. “Market cash flow is currently focused on a few growth stocks”, Mr. Mark Yusko – CEO and Chief Investment Officer of Morgan Creek Capital Management said. “Because investors are afraid of a shock increase in the securities interest tax, investors can sell off to take profits and push the market into an adjustment zone”. Shares of Southwest Airlines also turned down 1.6% at the end of the session, although the airline announced that the number of bookings for travel continues to increase and is expected to break even or make a profit next June. Shares Dow Inc. down 6% even after the chemical company surpassed expected revenue and profit in the first quarter of 2021. However, as of the beginning of this year, the stock Dow Inc. is still up nearly 10%. Most companies are currently recording results exceeding Wall Street’s expectations this earnings season, but the first quarter’s strong results did not help the market soar after repeatedly setting record levels. in recent weeks. Regarding economic data, the US Department of Labor on April 22 said that the number of people applying for unemployment benefits for the first time was 547,000 people last week, lower than the forecast of 603,000 by Dow Jones. Also on April 22, the Republican Party made a plan to oppose the US President Joe Biden’s $ 2,000 billion infrastructure investment package. Senators have proposed a $ 568 billion package that includes funding for bridges, airports and water systems. This proposal does not include tax increases. However, concerns about the capital gain tax increase could be overblown as Democrats hold a narrow majority in both the Senate and the House of Representatives, which may make it difficult to pass any proposals. Be positive ./.

Burst! U.S. stocks dived at 400 o’clock last night, and Biden is about to tax the rich!

editor — Fri, 23 Apr 2021 07:06:18 +0000

Biden has made another big move and is ready to attack the rich. After all, so much water (fiscal deficit) has been thrown out, and he must always find a way to recover it. As soon as the news came out, U.S. stocks plunged instantly. The Dow once fell more than 400 points. As of the close of U.S. stocks, the decline had narrowed, closing down 0.94%.

Biden intends to levy on the rich

Up to 43.4% capital gains tax

According to Bloomberg News, not only for companies, the Biden government also plans to increase taxes for high-income groups. According to people familiar with the matter, US President Biden will propose to nearly double the capital gains tax rate for the wealthy to 39.6%. Coupled with the existing investment income surcharge, this means that the federal tax rate for investors may be as high as 43.4%.

Jack Ablin, founding partner and chief information officer of Cresset Capital Management, said: “Biden’s proposal actually doubles the capital gains tax rate.” For long-term investors, this is a huge cost increase. If investors think that the proposal may become law next year, they can expect to sell it this year. ”

This proposal may overturn a long-standing clause in the tax law that the tax on investment returns is lower than the tax on labor. In his campaign, Biden advocated balancing capital gains and income tax rates for the rich. He said that many of the rich pay lower tax rates than middle-class workers, which is unfair.

Biden is expected to announce this proposal next week as part of the tax increase to fund social expenditures in the upcoming “American Family Plan.”

Then White House Press Secretary Jane Psaki said that Biden believes that the expenditures (planned by American families) may come from the richest people, but the plan has not yet been finalized.

This is the first time that the media has exposed the Biden government’s specific tax increase targets for the wealthy. Prior to this, it was mainly to increase taxes on enterprises.

On the 7th of this month, Biden delivered a speech in Pittsburgh, the place where his 2019 presidential campaign began, and officially announced plans for infrastructure and economic recovery of more than 2 trillion U.S. dollars. The day before the Pittsburgh speech, the White House announced the details of the tax increase plan. Two of the tax increase measures to prevent the outflow of corporate profits have been the most aggressive-increasing the corporate income tax rate from 21% to 28%; The “global minimum tax” (“global minimum tax”) has been increased from the current 13% to 21%.

After the 15 trillion infrastructure plan

Biden may have another 6.5 trillion new plan!

According to Reuters, the capital gains tax increase proposal for the wealthy is mainly to provide financial support for the upcoming American Families Plan, which is expected to be around US$1 trillion, or approximately RMB 65,000. Billion.

The main measures of the plan include helping American workers learn new skills, expanding subsidies for childcare, and allowing everyone to receive free community college tuition.

According to Market Watch, Biden may officially announce the plan as early as April 28. So far, the White House has not provided details. But White House Press Secretary Jen Psaki confirmed that Biden will discuss the plan at a predetermined location in Congress next week.

According to CNBC, the plan will be distinguished from the US$2.3 trillion (approximately 15 trillion yuan) infrastructure plan. The main source of funding for the previously announced US$2.3 trillion infrastructure plan will be to raise the corporate tax rate to 28%.

U.S. stocks diving

The Dow plunged 400 points intraday

The news that the capital gains tax might be doubled, and the stock market reacted violently.

On the one hand, the market is worried that the rich may sell stocks before the capital gains tax rate increases (even if the increase in capital gains tax is still very uncertain); on the other hand, because the market expects that if the tax rate really increases, the enthusiasm of the rich to trade stocks will be Greatly reduced.

The Dow quickly dived from 34,126 points in intraday trading, hitting a low of 33717 at one time, and slumped about 400 points in intraday trading. Near the end, the Dow rebounded and closed down 0.94% or 321.41 points.

In the plate, the Nasdaq and S&P 500 became popular, but they also dived after the news of tax increases. As of the close, as of the close, the S&P 500 index fell 0.92% to 4134.98 points. The Nasdaq index fell 0.94% to 13,818.41 points.

Worried about selling by the rich

Technology stocks fell

Technological tycoons are a very typical group of wealthy people with more capital gains. Their capital gains come from the original holdings of the founders, equity incentive plans, and so on.

If the expected increase in capital gains gains becomes stronger, the more likely it is that technology stock holders will sell technology stocks in advance. Therefore, on Thursday, local time, when the market dived, technology stocks also generally fell.

Among the large technology stocks, Tesla fell 3.28%, Facebook fell 1.64%, Microsoft fell 1.31%, Amazon fell 1.58%, and Apple fell 1.17%.

Among chip stocks, Micron Technology fell 3.34%, Nvidia fell 3.32%, TSMC and Intel fell nearly 2%, and Broadcom fell more than 1%.

During the epidemic, the rich set a record

The fastest growth rate of wealth in human history

Since 2020, the impact of the new crown pneumonia epidemic on the world has long exceeded the health field. The virus itself and the measures that have to be implemented to prevent the epidemic have plunged the global economy into recession. The United Nations even issued a report saying that the new crown epidemic may cause the world to lose 10 years of development results, and the most vulnerable social groups will be most affected.

So, what about the wealthiest group?

On April 6, Forbes released the 35th “Global Billionaires List”. The data showed that during the epidemic, the wealth of the rich community ushered in unprecedented growth. This time, the number of billionaires on the list reached 2,755, with total assets of 13.1 trillion US dollars, both breaking historical records. Among them, the number of rich people on the list is 660 more than the previous year, and the total assets are more than 8 trillion U.S. dollars, and it is the first time that it has broken the historical mark of 10 trillion U.S. dollars.

Behind the wealth growth of the rich are the soaring stock market and large-scale economic stimulus programs launched by various countries. Take the United States as an example. The Fed’s unprecedented stimulus measures have propped up the stock market and pushed up asset prices. The wealthy who can buy financial assets can continue to maintain their value and increase in value, but not only does the wage growth of the working class fail to keep up with the investment and operating income of the rich. With the growth rate, there is often a dangerous working environment to continue working for the rich.

Regarding this “spectacle”, “Forbes” called it: “the fastest increase in wealth in human history.”

When Citigroup announced its financial report, it said that the company plans to “double its bet on wealth” management business and will focus its energy on international hubs where high-income groups gather: Singapore, Hong Kong, UAE and London. At Bank of America, driven by the strong stock market, the account balance of wealthy customers surged by 31% to a record US$3.5 trillion. Morgan Stanley’s new assets under management have also increased significantly.

Citigroup’s new CEO Jane Fraser told analysts, “I can talk about this for a few hours – I think we are in a very good position in wealth management.” She said that focusing on major markets means “we The capital, investment and other resources of the company can be better deployed to capture opportunities for higher returns in the wealth management field.”

According to the Bloomberg Billionaires Index, the world’s 500 richest individuals increased their wealth by US$1.8 trillion last year, reaching a total of US$7.6 trillion. In the United States, the economic recovery affects the people in an extremely uneven way: rising stocks and housing prices have pushed many Americans to become wealthier, but nearly 10 million people are still unemployed. Some people call it “K-shaped recovery.”

Batchelder, who served in the Obama administration, has long advocated the use of tax laws to reduce income inequality, especially the gap between the rich and the poor between races. She called for a substantial increase in inheritance taxes, and has written articles on wealth taxes for high-net-worth individuals and financial transaction taxes on stocks and bonds.

She and David Kamin, deputy director of the National Economic Council, mentioned possible tax reforms in a 2019 paper entitled “Taxing the Rich: Problems and Options”. In addition to abolishing the “basic incremental” inheritance tax, it also includes taxing the capital gains of wealthy Americans at a higher income tax rate and imposing a minimum tax rate on large companies.

According to people familiar with the matter, according to Biden’s 2020 election policy, part of the tax increase proposals currently planned or under consideration by the White House include raising the corporate tax rate from 21% to 28% and the personal income tax rate for income exceeding $400,000. Increasing and expanding the coverage of inheritance tax will increase the capital gains tax rate for individuals with an annual income of at least $1 million.

Batchelder conducted a study earlier last year. Americans estimated that they would inherit a $764 billion inheritance in 2020, and the average tax payment would only account for 2.1%.

Biden’s White House economic team is determined to honor his campaign promise to increase taxes on the rich, because more and more data show that the wealthy Americans are financially well during the epidemic. Last year, the wealthiest 1% of American households increased their wealth by more than $4 trillion.

Teacher Li Xunlei once analyzed that the root cause of the fiscal problems in the United States is that in the past four decades of globalization, the multiple tax avoidance of multinational corporations and the wealthy has greatly reduced the government’s ability to obtain tax revenue. While multinational corporations and executives are grabbing a lot of benefits in the process of globalization, they reduce taxable income in the home country through complicated related transactions between subsidiaries in various countries, and transfer profits to countries with lower tax rates as much as possible, thereby realizing reasonable tax avoidance . In 2018, the average effective tax rate for the 400 wealthiest households in the United States was 23%, one percentage point lower than the 24.2% for the bottom 50% of households in the United States. In other words, while enjoying the dividends of globalization, the affluent class refuses to bear related responsibilities. The US fiscal problem is also another manifestation of the increasing polarization between rich and poor.

What is the impact on the stock market?

GF Macro’s Zhang Jingjing team previously analyzed that in March, the Biden administration kept revealing the details of infrastructure and tax increase policies? The Biden administration may intend to release risks in US stocks during the year.

Infrastructure and tax increases may end the bull market logic in US stocks after the financial crisis. The financial crisis caused the U.S. real estate bubble to burst. The subsequent low interest rate environment and tax cuts stimulated U.S. stock repurchases and created a U.S. stock technology bull market. The ultra-low interest rates during Trump’s tenure also made U.S. stock valuations continue to refresh and the Nasdaq bubble burst. After the new high. Infrastructure construction will stimulate the real economy, and superimposed real estate is still in an upward cycle. It is expected that the US inflation center will be higher than before the epidemic (2012-2020) in the next 5-8 years, and inflation factors will have a positive impact on risk-free interest rates. Tax increases will weaken corporate profits and repurchase willingness.

In the third quarter, the Fed is likely to cut QE, and then there will be greater risk of US equity adjustment; Biden revealed details of infrastructure and tax increases or intends to release US stock risks during the year. In other words, in the context of high valuations and monetary policy changes, Q3 US stocks inherently have greater risk of adjustment. At present, the Biden administration continues to release details of tax increases and infrastructure policies or deliberately releases negative signals in advance and squeezes out the U.S. stock bubble when the monetary policy is officially turned.

Once the risks of US stocks clear up and regain gains next year, the Democratic Party’s victory in the 2022 midterm elections will also increase. Since the 1980s, U.S. stocks have the highest probability of falling in the first two years of each presidential term. Although there are economic factors, it also shows that the previous presidents were least concerned about the performance of U.S. stocks in the early days of office. On the contrary, the decline can depress the base and deliver better performance in the middle of their administration. Transcript”.

Heavy late at night! The world’s largest Chinese stock fund suddenly increased its position in Moutai! Netizens exploded: Has the counterattack horn sounded? Just now, U.S. stocks hit a new high, the Dow broke 34,000 points for the first time!

editor — Mon, 19 Apr 2021 19:25:06 +0000

China Fund News Taylor

After the wind and rain, the real grass is still the most fragrant. According to the latest data, in January, the world’s largest Chinese equity fund, which reduced its holdings in Moutai, played high selling and buying low, and bought it again!

The world’s largest Chinese equity fund increased its holdings of Moutai in March!

According to the latest data from Morningstar’s official website, the world’s largest Chinese equity fund “UBS (Luxembourg) China Select Equity Fund (USD)” increased its holdings in Kweichow Moutai in March, with its share increasing by nearly 15%. As of March 31, Guizhou Moutai is the fund’s third largest stock. In addition, it has also increased its holdings in Tencent, and its heavy holdings include Ping An of China, Alibaba, and NetEase.

As of the end of March, the market value of Moutai in Kweichow held by this fund is US$877.9 billion, which is equivalent to more than RMB 5.7 billion.

You know, this fund reduced its holdings in Moutai in late January this year. At that time, it was reported that as of the end of January, Guizhou Moutai was the fund’s fifth largest holding stock. Compared with the end of 2020, the fund held Guizhou. Moutai decreased by 3.66%.

In addition to this fund, funds under the US Capital Group have reduced their holdings of Moutai at the end of 2020.

After foreign capital reduced its holdings of Moutai, various core assets have begun to fall back this year. Take Moutai as an example, it has withdrawn 23% from the high point this year.

However, it is worth noting that the capital group that holds the largest number of shares in Moutai in the world, its “New World Fund” is still reducing its holdings in Moutai in March, and Morningstar’s data shows that its share has dropped by 7%.

It seems that foreign investment also has different views on Moutai.

Shareholders: Foreign investors are doing T?

Is white wine still fragrant?

On April 8th, China Merchants Food invited several guests to discuss the valuation of liquor, which investors are more concerned about, in the form of interviews. Share how to price liquor assets and how to invest in liquor under different investment frameworks.

It mentioned that Huang Ruiqi, Senior Fund Manager of Allianz Global, mentioned The stock price of the liquor sector rose too fast last year, which exceeded the support provided by profit growth. The latter part mainly relied on the increase in valuation, and a more dangerous situation appeared. The stock price correction is only a matter of time. After the Spring Festival holiday, investment sentiment changed, triggering a sharp drop in stock prices. We tracked the channel and found that the fundamentals have not changed much, so we judged that the fluctuations since the beginning of the year have little to do with the basic factors, mainly due to the outflow of profitable funds brought about by the change in investment sentiment.

The valuation increase of A-share liquor stocks in the past few years is also partly due to foreign participation. Overseas institutional investors generally focus on the balance of returns and risks, so they are willing to give higher valuations to stocks with stable growth (such as food and beverages). The same situation has occurred in A shares in recent years.

As for the flow of funds, I believe that the inflow of funds into A-shares will be a long-term structural growth, because the proportion of China’s A-shares in global asset allocation is still seriously low. If you look at the current A shares, they actually only account for less than 5% of the MSCI index. Eventually, if the A shares are fully included, the proportion will be more than four or five times the current amount. Therefore, overseas investors are very clear about this. Whenever A shares fall severely, they will seize the opportunity. The stable growth sector of liquor must be given priority.

Hou Hao, manager of China Merchants China Securities Liquor Fund, said, The problem with high valuations is that any disturbance will bring changes in marginal funds, which will lead to follow-up of trend funds. This is the situation in which disturbances occur after the holiday, and the volatility caused by the follow-up of marginal funds and trend funds increases. From the perspective of the next 3-5 year cycle, this year is the starting point for many companies in the liquor industry in the 14th Five-Year Plan period. I learned at the rum party that the future development pattern and trend of the entire industry will be better. The future space looks at prices first, and prices change with changes in the level of economic development and per capita income. In terms of volume, some high-end and sub-high-end brands, especially sauce wine and companies with base wine reserves, will see obvious marginal changes in the next five years. Another major change factor, which has been discussed a lot, is the change in the price band of overtaking in the corner that may be brought about by the change in opinion leaders’ views. This point is actually hard to ignore.

U.S. stocks hit a new high

Dow rose to 34,000 points for the first time

A-share stockholders cried with envy, and US stocks hit a new high tonight.

On the 15th, US time, driven by positive economic data and earnings reports, the three major U.S. stock indexes opened higher. For the first time in history, the Dow broke through the 34,000-point mark.

The US Department of Commerce reported that US retail sales in March increased by 9.8% month-on-month, a new high since May last year, far exceeding expectations of 5.9%. According to data from the US Department of Labor, the number of people applying for unemployment benefits for the first time last week fell from 744,000 in the previous week to 576,000, a record low since the week of March 14 last year. It was better than market expectations and both helped US stocks rise.

The three major European stock markets opened higher and the European Stoxx 600 index hit a record high

On the other hand, European stock markets opened higher due to a series of March inflation data released by major European economies. As of 10:11 pm on the 15th, Beijing time, the London FTSE 100 index rose 0.68%, the Frankfurt DAX index rose 0.26%, and the Paris CAC40 index rose 0.35%.

The Pan-European Stoxx 600 Index hit a high of 438.29 points, which is more than 55% higher than the low on March 18 last year. Analysts said that because European stocks are still at a low level compared with US stocks, there is still room for further gains in European stocks. JPMorgan Chase analysis indicated that the pan-European Stoxx 600 index is expected to rise 3% this year. Bank of America analysts expect the index to rise by 7% by the end of this summer.

Just now, the National Big Fund reduced its holdings of SMIC by 100 million shares!Biden imposes new sanctions on Russia

Suddenly sanctioned, Russia responded hard! Biden also said that gold rose sharply, and US stocks rose above 34,000 for the first time!

editor — Mon, 19 Apr 2021 15:20:08 +0000

China Fund News reporter Jin Youzhi

After suddenly encountering US sanctions, Russia’s latest response came.

“The actions of the US are unacceptable.”

Biden also spoke after the announcement of the sanctions, warning that there may be more actions.

The sanctions increased risk aversion, and gold rose immediately. U.S. stocks also rose sharply under the support of strong economic data, with the Dow and S&P 500 reaching new highs.

Suddenly sanctioned, Russia responded!

The latest statement: unacceptable, will “resolutely fight back”

According to the World Wide Web, on April 15, local time, US President Biden signed an executive order, launching a series of sanctions against Russia’s “harmful foreign behavior.” The White House stated that the United States hopes to establish a “stable and predictable” relationship with Russia, but that Russia must pay the price for trying to harm American behavior.

The new round of US sanctions against Russia includes the Ministry of the Treasury’s prohibition of US financial institutions from participating in a series of Russian bonds and fund investments; actions against six Russian technology companies. The United States will also expel 10 diplomats from the Russian diplomatic mission in Washington.

In the early morning of the 16th Beijing time, Russia’s latest response came!

According to CCTV News, Russian Foreign Ministry spokesperson Zakharova issued a warning that day that Russia would “resolutely fight back” the “aggressive behavior” of the US.

Russian Foreign Ministry spokesperson Zakharova stated at a regular press conference that the responsibility for the deterioration of Russia-US relations lies solely with the United States. The actions of the US side did not indicate that it is willing to promote the normalization of Russia-US relations. Russia has repeatedly warned that hostile actions by the United States against Russia may trigger consequences including intensifying confrontation between the two sides. The United States should realize that it has to pay a price for the deterioration of bilateral relations. Russia will “resolutely fight back” the “aggressive behavior” of the United States.

Russian Foreign Ministry Spokesperson Zakharova: The United States is unwilling to accept this objective fact, that is, in this multi-polar world, the United States no longer enjoys hegemony, but also expects to impose sanctions and pressure to interfere in Russia’s internal affairs. Such hostile acts will be resolute Retaliation, (Russia)’s retaliation against sanctions will be inevitable, and the United States should realize that it must pay for the deterioration of Russia-US relations.

The spokesperson also announced that because the United States announced a series of sanctions against Russia, the Russian Foreign Ministry summoned the US ambassador to Russia.

Later that day, the official website of the Russian Ministry of Foreign Affairs summoned the US ambassador to Russia to make a relevant statement.

The statement stated that on the same day, Russian Deputy Foreign Minister Yabukov summoned Sullivan, the US ambassador to Moscow. The Russian side believes that the actions of the US side are unacceptable, it violates the US declared will to “establish a pragmatic relationship with Russia,” and it has dealt a new serious blow to Russia-US bilateral relations.

The statement stated that the US ambassador to Russia was told that Russia will take a series of response measures to US sanctions as soon as possible. For a long time, in order to maintain Russia-US relations at an acceptable level, Russia has always shown an extremely responsible attitude. However, successive governments in Washington have scorned the constructive proposals of the Russian side and exacerbated the deterioration of the situation.

The two sides also exchanged views on other issues of bilateral relations.

Earlier in the day, Russian Foreign Ministry spokesperson Zakharova stated at a regular press conference that because the United States announced a series of sanctions against Russia, the Russian Foreign Ministry summoned the US ambassador to Russia.

Biden also speaks

Warning that there may be more actions

After the announcement of sanctions against Russia, Biden delivered a speech later the same day.

According to the Guardian, in his speech, Biden warned that if Russia continues to interfere with American democracy, the United States may take more actions.

Biden said, “President Putin and I are very clear that we can go further. But I chose not to do so.” But Biden said that he did not want to escalate the tension. He said, “We want a stable, Predictable relationship.”

According to CNN, with regard to the tension with Russia, Biden also emphasized that “now is the time to ease.”

Speaking at the White House, Biden said that he told Russian President Putin on a conference call earlier this week that he could have taken these steps further. Although Biden hopes to avoid escalation of tensions, he made it clear that he will take further actions without hesitation in the future.

Biden also mentioned that communication with Putin is crucial to the relationship between the two countries; the US and Russian teams are still discussing the possibility of holding a summit.

Strong economic data, U.S. stocks soared

The Dow broke 34,000 for the first time, and the S&P 500 also hit a new high

The economic data released by the United States on Thursday was too strong.

The first is that the number of initial jobless claims hit a record low in more than a year. According to data from the US Department of Labor, the number of people applying for unemployment benefits for the first time in the United States was 576,000 in the week of April 10, the lowest since the week of March 14 last year, which was far below the expected 700,000, and significantly lower than the previous value of 744,000. .

In addition, spurred by a $1,400 cash check, US retail data also exploded. In terms of retail sales data, US retail sales in March increased by 9.8% month-on-month, the highest level in 10 months, far higher than market expectations of 5.8%. Among them, the sales of the catering industry increased by 13.4%, and the sales of clothing retailers increased by 18.3%, both setting the highest growth rate since June last year.

With the support of strong economic data and the overall earnings report of bank stocks exceeding expectations, the three major U.S. stock indexes all rose.

As of the close, the Nasdaq rose 180.92 points, or 1.31%, to 14,038.76 points; the S&P 500 index rose 45.76 points, or 1.11%, to 4,170.42 points, also setting a record high.

The Dow rose more than 300 points to 34,035.99 points, a record high. This is also the first time the Dow’s closing price rose above 34,000 points.

U.S. debt fell unexpectedly

Economic data is very strong, and U.S. Treasury yields should generally go up. But after the United States released dazzling data on Thursday, U.S. Treasury yields unexpectedly fell.

The yield on the 10-year U.S. Treasury fell below the 1.530 mark.

On the news, as the largest overseas holder of U.S. Treasury bonds, Japan’s share of U.S. bonds has hit a record low. On Thursday, local time, the International Capital Flow Report (TIC) released by the US Treasury Department. The report shows that Japan’s holdings of US Treasury bonds fell by US$18.5 billion in February this year, and the total holdings fell to US$1.26 trillion, accounting for 5.9% of the total US government debt, the lowest in history.

Risk aversion warming up

Gold soars

The US sanctions against Russia have increased risk aversion in the market, and the price of gold has risen rapidly. In addition, strong economic data in the United States also makes people more worried about the risk of inflation, which also provides support for gold prices.

The spot gold price was once close to the $1770/ounce mark.

Gold futures once rose above the $1770/ounce mark.

U.S. gold stocks also rose sharply.

The chip giants rose nearly 6%

New energy vehicle stocks have fallen

On Thursday, chip stocks rose very brightly, AMD and Nvidia both rose nearly 6%, and Xilinx rose more than 5%.

On the news, TSMC’s dazzling earnings data boosted market sentiment, confirming the logic of “lack of cores” boosting the chip industry’s prosperity. On Thursday, TSMC announced its financial report for the first quarter of 2021. During the reporting period, TSMC achieved revenue of US$12.92 billion, a year-on-year increase of 25.4% and a month-on-month increase of 1.9%, a record high. TSMC has also substantially raised its revenue growth target for 2021 to 20%, and is expected to grow at a compound growth rate of 10-15% in the next five years, and it is expected that the problem of chip shortages may continue until 2022.

While chip stocks rose sharply, new energy vehicle stocks, which are also technology stocks, fell.

Ideal cars fell nearly 7%, Xiaopeng Motors fell more than 4%, and Weilai Motors fell more than 3%.

Source: China Fund News

Many Vietnamese stocks are still at an attractive price range compared to the region

Thái Duy — Mon, 19 Apr 2021 06:22:10 +0000

According to Bao Viet Securities Company (BVSC), with high return on equity, stocks in the VN-Index are being traded at a very attractive price range when comparing correlatively. with other regional and international stock markets.

Many macro factors will support the market’s growth trend in the whole year 2021. Photo: Duy Dung. The probability of VN-Index falling is not high According to BVSC’s report, compared with the movements of the VN-Index in the past, the current P / E of the VN-Index is already higher than the 5-year average. However, according to BVSC’s observation, at the current P / E, the probability of a market decline is not high. In addition, with the recovery of the economy, according to BVSC’s forecasts, profits of listed businesses will grow by 27.3% by 2021 (compared to 2020). With the profit growth of listed companies, the P / E of the VN-Index is likely to drop to 15 times – lower than the 5-year moving average (16.41 times) of the VN- Index; therefore, the 2021 P / E level of the market is still attractive. BVSC’s experts believe that the Vietnamese market is attractive compared to other markets in the region, but it is very important to the ability to attract foreign capital, connect with the flow of investment capital in the world. equals the valuation of Vietnamese stocks in terms of general ground. Up to now, the market liquidity and the ETFs participating in the market have also contributed to help the Vietnamese market’s valuation ground closer to other markets in the world. As of April 9, 2021, compared to the sample of 12 markets observed by BVSC, including countries in frontier, emerging and developed markets, the P / E of the VN-Index is currently at 19.11 times. – 4th low out of 13 markets followed and just above P / E of Shanghai Index (17.61 times) of China, Hang Seng (14.86 times) of Hong Kong and KOSPI (12.99 times) of Korea. These are also 3 markets with a sharp decrease of more than 10%, in February and March. Meanwhile, “the rate of return on equity of the companies listed on the HSX stock exchange is at the highest level among the markets we monitor. This shows that, in general, with high return on equity, stocks in the VN-Index basket are being traded at very attractive price ranges when compared with other markets. other securities in the region and internationally ”- said BVSC’s expert. The market still maintained an uptrend throughout the year According to experts from BVSC, despite facing an interest rate hike in 2022, the stock market can normally recover and then rebound after early monetary tightening. first. The reason for this is that central banks in many countries often practice monetary tightening since the economy is still in the growth phase, when businesses still have positive business results and do. reduce the impact of increasing operating rates. Therefore, BVSC believes that the world stock market is not too concerned when central banks of countries implement interest rate hikes or monetary tightening for the first time. In the past, markets often reversed and fell into a downward phase at the third rate hike by central banks. For Vietnam, according to BVSC’s experts, with the context that GDP growth is accelerating again and can grow impressively in the second quarter; Other macro indicators are operating stably, supporting business activities; listed companies will have good growth in 2021, especially many industries with high growth in the first quarter such as banking, steel …; and beyond, foreign capital will continue to flow into Vietnam market thanks to its ability to be upgraded and the attractiveness of a dynamic and rapidly growing economy. “These are factors supporting the market’s growth trend in 2021” – stressed BVSC expert. However, BVSC also notes some potential short-term risks. Accordingly, when the positive information has been reflected in the price, the new cash flows into the market cannot keep up with the price increase, the cash flow is withdrawn from major shareholders – or companies that sell stocks. Fund … Besides, when the opportunities to gain from pure stocks derive from cash flow factors, lack of support in the core positive change of the business, will create potential risks. on the ability of the market to correct in the short term./.

Looking at the investment advantages of Shanzheng Dividend Potential ETF (215570.SH) from the structure of constituent stocks

editor — Sun, 18 Apr 2021 07:45:07 +0000

Earlier, the author pointed out in the article “Mountain Securities Dividend Potential ETF (515570.SH): An Index Fund with Both Value and Growth” that, compared with large-cap indexes, the Shan Securities Dividend Potential ETF has created a better market performance.

The market performance of constituent stocks directly affects the net value of the fund, so it is a good angle to study a fund from the composition of constituent stocks. Next, let’s take a look at the constituent stocks of the Shanzheng Dividend Potential ETF? And what are the characteristics of these constituent stocks?

1. Constituent stocks are concentrated in consumer and other sectors, 80% of the constituent stocks will achieve positive returns in 2020

From the perspective of industry distribution, the 50 component stocks of the Shanzheng Dividend Potential ETF are mainly concentrated in the fields of daily consumption, optional consumption, finance, real estate and materials. Among them, daily consumption and optional consumption accounted for approximately 32% and 18% respectively, and the total accounted for approximately 50%. The proportion of consumer stocks reaching half is related to the screening indicators of the Shanzheng Dividend Potential ETF. The consumer industry generally has a higher return on net assets, which can better meet the fund’s requirements for related indicators.

From the perspective of the top ten constituent stocks, as of the end of 2020, the top ten constituent stocks of the Shanzheng Dividend Potential ETF are Ping An of China, Midea Group, Kweichow Moutai, Wuliangye, Yili, Poly Real Estate, China Pacific Insurance, China Shenhua, Conch Cement He Yanghe shares accounted for approximately 13.71%, 10.00%, 9.69%, 6.53%, 5.39%, 4.79%, 3.95%, 3.54%, 3.47 and 3.12% of the fund’s net asset value, respectively. The total weight of the top ten constituent stocks reached approximately 64%, and the total weight of other constituent stocks accounted for approximately 36%

It is worth noting that in 2020, 40 of the 50 constituent stocks of the Shanzheng Dividend Potential ETF have received positive returns, accounting for up to 80%.

Thanks to the continuously high liquor market, many liquor stocks held by the Shanzheng Dividend Potential ETF in 2020 have achieved excellent market performance, including Kweichow Moutai, Wuliangye, Luzhou Laojiao, Shanxi Fenjiu and so on. Among them, Shanxi Fenjiu’s stock price rose 321% last year, Luzhou Laojiao’s annual growth rate reached 164%, Wuliangye’s annual growth rate reached 122%, and Kweichow Moutai’s annual growth rate reached 71%.

In addition, Midea Group, Haitian Flavor, Shuanghui Development, Hualan Bio, Gigabit, and Farah Electronics, which are held by Shanzheng Dividend Potential ETF, also recorded good market performance. For example, Midea Group’s share price rose 74% last year, Haitian Flavor’s share price rose 126% last year, and Farah Electronics’ share price rose 123% last year.

2. Multiple index screening, annual adjustments to ensure that the constituent stocks are all high-quality companies

The Shanzheng Dividend Potential ETF tracks the yield of the China Securities Dividend Potential Index. The investment style is a balanced market. The constituent stocks with a market value of more than 100 billion account for 42%. The constituent stocks span the Shanghai and Shenzhen stock markets and are representative of the market. The 50 constituent stocks of the fund are all high-quality stocks. These companies have established leading market positions in their respective industries, with strong competitiveness and stable performance, showing large market capitalization, high return on equity, low turnover rate, low volatility and high Growth characteristics.

In order to select high-quality constituent stocks with growth potential, the Shanzheng Dividend Potential ETF has increased the requirements for corporate profitability indicators and growth capabilities on the basis of the original screening of the dividend potential index. Therefore, the Shanzheng Dividend Potential ETF has achieved Market performance that is better than the broader market index and better than the index being tracked brings stable and considerable investment returns to investors.

According to Wind data, compared with the Shanghai and Shenzhen 300 constituent stocks and all A shares, the dividend potential index constituent stocks have higher average return on equity and earnings per share in the past three years, that is, the index reflecting the company’s profitability is superior. Not only that, compared with the Shanghai and Shenzhen 300 constituent stocks and all A shares, the dividend potential index constituent stocks have higher revenue growth and net profit growth in the past three years, that is, the index reflecting the company’s growth ability is superior.

It should be noted that these constituent stocks of the fund are not static. The constituent stocks of the dividend potential index will be re-ranked and adjusted once a year according to the quality factor. This ensures that the companies in the portfolio basket will always be the best companies in the market, making the index Continue to perform well. For example, on December 16, 2019, the component stocks of the Dividend Potential Index underwent a substantial adjustment, including good companies such as Haitian Weiye, Gigabit, and excluding Chaohongji, Guoguang Stock, and Jiangzhong Medicine. Industry and other companies.

3. The fall in valuation of constituent stocks highlights investment advantages

After the overall adjustment after the Spring Festival, the valuation advantages of many leading companies in the industry have begun to become prominent. For example, Kweichow Moutai, a major stock of the Shanzheng Dividend Potential ETF, had a price-earnings ratio (TTM) of more than 73 times this year, and has now fallen to around 54 times. Another major stock, Midea Group, is no exception. Its price-to-earnings ratio (TTM) has changed from It fell from about 30 times to about 22 times. As of April 15, 2021, the median stock-to-earnings ratio (TTM) of the fund’s 50 constituents is about 23 times, and the median price-to-book ratio is about 4 times.

From an investment point of view, these high-quality companies have no problems in their operations, but stock prices have adjusted due to short-term market fluctuations. As their valuations fall, the company’s investment attractiveness has increased. In addition, these constituent stocks themselves have high cash dividends and have great potential for future dividends. When the market adjusts, the dividend rate will rise. They are good dividend-receiving stocks. For example, among the constituent stocks of Shanzheng’s dividend potential ETF, China Fortune Fortune, Wen’s shares, Daqin Railway, China Merchants Shekou, China Shenhua, Gemdale Group, Poly Real Estate and other companies have dividend rates above 5%.

In summary, the constituent stocks of the Shanzheng Dividend Potential ETF are all high-performance benchmarks, which can reflect value and growth. The market performed well last year. Now that the overall valuation is more reasonable after the valuation declines, and the high dividend rate lays a safety margin, this index fund is suitable for investors with low risk appetite and long-term financial planning.

Afternoon review: stock index trends are divided, the Shanghai index rose 0.46%, and liquor stocks led the rise

editor — Sat, 17 Apr 2021 07:10:08 +0000

China Economic Net, Beijing, April 16th. In early trading on Friday, the three major stock indexes collectively opened higher. At the beginning of the market, the trend was divided. With the help of liquor and coal, the Shanghai Index oscillated and strengthened. The index fell more than 1% at one time, and then maintained consolidation, rebounding near noon. On the disk, individual stocks rose more and fell less, with more than 3,000 shares in the two cities buzzing with a daily limit of more than 60.

As of midday’s close, the Shanghai Stock Exchange Index reported 3,14.74 points, up 0.46%; the ChiNext Index reported 13,672.76 points, down 0.05%; the ChiNext Index reported 2,770.81 points, down 0.71%.

On the disk, the sector is generally popular, with liquor, digital currency, coal, second-child concepts, and automobiles leading the list of gains; a few sectors such as semiconductors, sub-new stocks, non-ferrous cobalt, and military industries performed weakly.

[News side]

National Bureau of Statistics: In the first quarter, my country’s GDP was 24,931 billion yuan, a year-on-year increase of 18.3% at comparable prices, an increase of 0.6% from the fourth quarter of 2020, an increase of 10.3% from the first quarter of 2019, and an average increase in two years. 5.0%.
Civil Aviation Administration of China: China’s air passenger traffic in the first quarter increased by 38% to 102 million passengers, China’s air cargo volume in the first quarter increased by 29% to 1.78 million tons, and the civil aviation cargo volume in March increased by 35% to 655,000 tons.
National Bureau of Statistics: The price of pork has been declining year-on-year for several consecutive months. At present, thanks to various measures to maintain supply and stabilize prices, the production capacity of live pigs has been significantly restored. The live pig stock increased by 29.5% year-on-year at the end of the first quarter. The live pig stock has increased sequentially for six consecutive quarters, and the production capacity of live pigs has recovered relatively quickly. From this perspective, there is a basis for the continued decline in pork prices.

【Institution Hot Discussion】

Soochow Securities pointed out that the overall index is still slowly adjusting the rhythm amidst turbulence. The sharp drop in the previous two months may be difficult to occur, but it is indeed not easy to expect the index to have a big chance. However, in this kind of high shock, the activity of individual stocks is not bad. Tickets from large institutions such as nonferrous metals, coal, and steel, as well as tickets for new and high transfers of hot money, have good short-term opportunities. Set stop losses and lighten Warehouse participation is still feasible.

Bairuiying believes that in the short term, the previous view will be maintained, the market is still in the process of bottoming, and energy, confidence and patience will be repeatedly consumed. But there is no need to be impatient. How complicated it is to go here, the strength of the mid-term rebound will be. For now, before the index does not test the clear support of the double bottom of the 3350 line, try to reduce the operation as much as possible and keep the chips within the half position.

A-share market sector and individual stocks ranking

External market

As of press time

Original Song Hye Kyo’s old photos flowed out, and I felt that the screen could not fit, no wonder the fat guys are all potential stocks!

editor — Sat, 17 Apr 2021 03:42:08 +0000

There is a topic that fat people are potential stocks, and Song Hye Kyo is also the same. After seeing Song Hye Kyo’s fat photos in the past, netizens feel that the screen is about to fit. It is true that the beauty is given by God, and the figure is obtained by my own hard work.

For Song Hye Kyo, the post-80s audience may have deep memories. When they first watched Korean dramas, Song Hye Kyo was one of the first Korean female celebrities to know, and they were chased after “Blue Life and Death” and “Romantic House”. Waiting for the Korean drama, the domestic audience fell in love with this sweet girl. However, Song Hye Kyo had also had “ugly photos” back then, that was after a sudden increase in weight.

Netizens found some photos of Song Hye Kyo who had a distorted figure. In these photos, Song Hye Kyo is really happy, but it can still be seen from the facial features that it is a beauty embryo. The thin Song Hye Kyo is indeed like this, which makes a lot of people. Netizens sigh with emotion that the facial features are given by their parents, and the figure can indeed be changed by oneself.

Regarding the marriage change between Song Hye Kyo and Song Zhongji, I still have a blessing mentality for them. After all, things in the entertainment circle really don’t understand!

Are A shares adjusted in place? Can White Horse stocks buy bottoms?Institutional person: downplaying the concept of bull market and bear market

editor — Sat, 17 Apr 2021 03:40:11 +0000

Xinhua News Agency, Beijing, April 16 (China Securities Journal reporter Wang Yulu and Hu Yu) “Investment is more important to find companies that cross the bulls and bears.”

“We must play down the concept of bull and bear markets, and grasp structural trends and opportunities.”

…

On the evening of April 15th, the “Golden Bull is Coming” live broadcast of the China Securities Journal frequently appeared. Dan Bin, chairman of Shenzhen Orient Harbor and Jinniu Private Equity Investment Manager, and Wang Hanfeng, chief strategist and managing director of CICC, discussed recent market conditions. , Macro policies and investment strategies were wonderfully shared.

The two guests said that the current market adjustment may not be in place, and market sentiment may further cool down. Investors should play down the concept of bull market and bear market, and should focus on grasping structural opportunities, mainly focusing on industries such as consumption, platform Internet companies, high-end manufacturing, medicine, and education.

Market adjustment is not yet in place

Wang Hanfeng said that on the whole, the stock market has slowly shown that the adjustment may be entering the second half of the process, but the valuation adjustment is not yet sufficient, and market sentiment may further cool down. “In the follow-up, we will continue to pay attention to various indicators, and pay attention to whether it will reach a staged bottom within the next one or two months.”

But Bin said that the short-term trend of the market is more difficult to judge. This adjustment may continue until the third quarter or the end of the year. By then, the valuation restoration should be nearing the end, and the valuation of listed companies will be more attractive.

Wang Hanfeng believes that current investors pay too much attention to the performance of the market’s broad-based index and ignore the structural trend of the market. It is recommended that investors play down the concept of bull and bear markets and should focus on structural opportunities. “The index can be used for reference, but don’t pay too much attention to it. What needs to be paid attention to is the clear trends in the next five to ten years and the leading companies that can represent the trends.

Optimistic about five types of industries

Recently, Dabaima has fallen successively. In Dan Bin’s view, the main reason is the high valuation of some companies. As the annual report continues to disclose, some companies’ profits did not increase significantly last year, but their stock prices have risen a lot. After the so-called slump, the valuation is still not low.

In the long run, but Bin is optimistic about the five types of industries: consumption, platform Internet companies, high-end manufacturing, medicine, and education. He said that he will not adjust the industry based on the short-term situation in a quarter, and he is especially taboo against continuous trading in the volatile market.

Regarding the liquor sector that everyone is concerned about, Bin Bin said that the cycle of consumer companies is particularly long. For example, tobacco companies in the United States have spanned many cycles. If any company in the liquor industry buys and holds it from the first day of listing, it will make money, and most of them can earn dozens or even hundreds of times in return. In the long run, there is still room for the liquor industry in the future.

For the pharmaceutical industry, Bin Bin said that he can focus on companies with leading technologies.

Recently, the market has frequent rotations. In Wang Hanfeng’s view, this is related to the relatively high proportion of short-term speculation in the market structure. Frequent rotations are not necessarily a very rational behavior. To find the direction of investment value in the medium and long term, we still need to see which direction will benefit from the development trend of our country. “If you want to fish, you have to go to places where you can easily catch fish. From the perspective of investment, China is currently in the stage of consumption upgrading and industrial upgrading. These are the places where it is easier to catch fish.”

The important thing is to find long-term profitable companies that cross the bulls and bears

But Bin said that great companies in history have grown up from small companies. To find a truly good company, one must judge from five dimensions: first, the company has no ceiling and there is unlimited room for growth; second, the company’s business model is simple , Reliable, easy to understand, recognized by more people, everyone has a high level of firewood; third, the company’s profitability is strong and sustainable, and its annual performance has maintained growth, and it will surely grow into a large company for more than ten consecutive years; Fourth, there are commercial barriers, and the moat is deep and wide; fifth, there is a good culture and a good team to resist the challenges of growth.

Bin said that he did not agree with the concept of “grouping” in the market. He said that concerns about inflation and liquidity will only interfere with short-term operations. From the perspective of a slightly long-term trend, these factors are not the fundamental factors affecting stocks. The real investment does not depend on the judgment of the index, but to find companies that can cross the bull-bear cycle, and the profitability of the company must be able to keep up. . The simpler the basis for investment decisions, the more effective.

But Bin said that investment should be made around the best few companies, and style rotation should not be used as an investment reference factor. As far as investors are concerned, it is not advisable to blindly chase hot spots, otherwise it is easy to chase high or run low. The core is to make long-term thinking based on changes in corporate profitability. (Finish)

VIC supported the market again, the VN-Index only lost more than 8 points although the red color covered three-quarters of stocks on the HoSE

Thanh Long — Fri, 16 Apr 2021 15:53:06 +0000

On April 16, VIC supported the market in a ‘fiery red day’, similar to many recent sessions. VIC’s biggest ‘ally’ is NVL.

VIC supported the market again, the VN-Index only lost more than 8 points although the red color covered three-quarters of stocks on the HoSE

VN-Index on April 16 was like going on a roller coaster when sometimes “hitting a hammock” decreased by 20 points compared to the beginning of the session. However, this index then quickly recovered, ending at 1,238.71 points, down 8.54 points, or 0.68%.

Although it only dropped by more than 8 points, if looking at the general picture on HoSE, the situation is much more tragic. There were 355 losers on the floor, equivalent to 3/4 of the stocks on the floor. The number of advancers was only 81, while the number of unchanged stocks was 36.

This session, VIC supported the market again, similar to many sessions in the past. VIC’s biggest “ally” during the session was also a real estate stock: NVL.

In fact, NVL is the most impressive stock in the market recently when it recorded 12 consecutive gaining sessions, dragging the stock price up from 79,500 VND / share to 108,000 VND / share, or up to 36. %. Particularly in the session of April 16, the market price of this stock increased by 5.37%.

Not only VIC and NVL, BCM also impressed with a ceiling gain. Meanwhile, PDR surged 5.03%. These are the 4 stocks that have the most positive influence on the index, as well as 4 real estate stocks. In addition, FLC and ROS also participated in the top 10 stocks that positively affected the index.

The remaining real estate stocks are generally less positive.

For the banking group, the overall situation was tragic. Except for SSB, EIB and LPB, the remaining stocks all fell quite sharply, most of them lost about 1-3% in value.

Securities group was even more miserable when the red color covered. SSI down 2.44%, VCI down 1.83%, HCM down 3.03%, AGR down 3.69%, TVS down 2.97% …

For manufacturing groups, the green color was light in HPG and MSN with a slight increase, respectively 0.18% and 0.1%, the rest fell mostly, of which VNM plunged 2.22%, SAB fell. 1.51% while GVR decreased to 4.32%.

The situation is also not so good for aerospace and energy stocks. VJC and HVN decreased by 2.05% and 1.9% respectively. GAS stood still at reference price, POW decreased by 1.49% while PLX increased 2.94%.

The matched liquidity on the HoSE was at a very high level, up to over 20,000 billion VND.

Suddenly sanctioned, Russia responded hard! Biden also voiced that gold soared and US stocks rose to 34,000 points for the first time!

editor — Fri, 16 Apr 2021 09:11:08 +0000

China Fund News reporter Jin Youzhi

After suddenly encountering US sanctions, Russia’s latest response came.

“The actions of the United States are unacceptable.”

Biden also spoke after the announcement of the sanctions, warning that there may be more actions.

The sanctions increased risk aversion, and gold rose immediately. U.S. stocks also rose sharply under the support of strong economic data, with the Dow and S&P 500 reaching new highs.

Suddenly sanctioned, Russia responded!

The latest statement: unacceptable, will “resolutely fight back”

In the early morning of the 16th Beijing time, Russia’s latest response came!

According to CCTV News, Russian Foreign Ministry spokesperson Zakharova issued a warning on the same day that Russia would “resolutely fight back” the “aggressive behavior” of the US.

The spokesperson also announced that because the United States announced a series of sanctions against Russia, the Russian Foreign Ministry summoned the US ambassador to Russia.

Later that day, the official website of the Russian Ministry of Foreign Affairs summoned the US ambassador to Russia to make a relevant statement.

The statement stated that on the same day, Russian Deputy Foreign Minister Yabukov summoned Sullivan, the US ambassador to Moscow. The Russian side believes that the actions of the US side are unacceptable, which violates the US declared will to “establish a pragmatic relationship with Russia” and has caused a new serious blow to the bilateral relations between Russia and the United States.

The two sides also exchanged views on other issues of bilateral relations.

Biden also speaks

Warning that there may be more actions

After the announcement of sanctions against Russia, Biden delivered a speech later the same day.

According to the Guardian, in his speech, Biden warned that if Russia continues to interfere with American democracy, the United States may take more actions.

According to CNN, with regard to the tension with Russia, Biden also emphasized that “now is the time to ease.”

Biden also mentioned that communication with Putin is crucial to the relationship between the two countries; the US and Russian teams are still discussing the possibility of holding a summit.

Strong economic data, U.S. stocks soared

The Dow broke 34,000 for the first time, and the S&P 500 also hit a new high

The economic data released by the United States on Thursday was too strong.

With the support of strong economic data and the overall earnings report of bank stocks exceeding expectations, the three major U.S. stock indexes all rose.

As of the close, the Nasdaq rose 180.92 points, or 1.31%, to 14,038.76 points; the S&P 500 index rose 45.76 points, or 1.11%, to 4,170.42 points, also setting a record high.

The Dow rose more than 300 points to 34,035.99 points, a record high. This is also the first time the Dow’s closing price rose above 34,000 points.

U.S. debt fell unexpectedly

Economic data is very strong, and U.S. Treasury yields should generally go up. But after the United States released dazzling data on Thursday, U.S. Treasury yields unexpectedly fell.

The 10-year U.S. Treasury yield once fell below the 1.530 mark.

On the news, as the largest overseas holder of U.S. Treasury bonds, Japan’s share of U.S. Treasury bonds has hit a record low. On Thursday, local time, the International Capital Flow Report (TIC) released by the US Treasury Department. The report shows that Japan’s holdings of US Treasury bonds fell by US$18.5 billion in February this year, and the total holdings fell to US$1.26 trillion, accounting for 5.9% of the total US government debt, the lowest in history.

Risk aversion warming up

Gold soars

The spot gold price was once close to the $1770/ounce mark.

Gold futures once rose above the $1770/ounce mark.

U.S. gold stocks also rose sharply.

The chip giants rose nearly 6%

New energy vehicle stocks have fallen

On Thursday, chip stocks rose very brightly, AMD and Nvidia both rose nearly 6%, and Xilinx rose more than 5%.

While chip stocks rose sharply, new energy vehicle stocks, which are also technology stocks, fell.

Ideal cars fell nearly 7%, Xiaopeng Motors fell more than 4%, and Weilai Motors fell more than 3%.

Source: China Fund News

18 sci-tech innovation board stocks have annual reports with a loss and the first loss after listing

editor — Thu, 15 Apr 2021 14:55:07 +0000

As of April 15, 261 companies listed on the Science and Technology Innovation Board have disclosed their main financial data for 2020 in the form of annual reports or performance bulletins. According to Wind data, 18 shares attributable to 2020 including Junshi Bio, Zejing Pharmaceutical, and You Kede are in a state of loss. Among the aforementioned 18 performance-loss stocks, 14 are companies with “U”, and 4 stocks including Ukde have lost money for the first time since they went public.

The net profit attributable to Shengxiang Biological and other companies increased by more than 10 times

According to the data disclosed by Wind, among the 261 listed companies on the Sci-tech Innovation Board, 243 companies will achieve profitable net profits in 2020, accounting for about 93.1% of the number of companies on the Sci-tech Innovation Board.

According to Wind data, among the 243 sci-tech innovation board listed companies, 136 companies will achieve attributable net profit of more than 100 million yuan in 2020. Among them, 17 stocks such as Lanqi Technology, Trina Solar, Stone Technology, and Oriental Bio will be realized in 2020. The net profit attributable to over 1 billion yuan. Judging from the data disclosed by Wind, SMIC’s net profit attributable to 2020 will be approximately 4.332 billion yuan, ranking first in science and technology stocks in terms of profit.

The growth rate of attributable net profit is an important indicator to measure the growth and development capabilities of a company. According to Wind data, among the 243 companies listed on the Sci-tech Innovation Board with attributable net profits in 2020, 180 companies’ attributable net profits in 2020 will increase year-on-year. Among them, 29 stocks including Chipsea Technology, Haier Biotechnology, and Kingsoft Office will be The annual attributable net profit doubled year-on-year, and the attributable net profit of the four sci-tech innovation board listed companies of Shengxiang Bio, Shijia Photonics, Oriental Bio, and Zhijiang Bio will increase by more than 10 times in 2020.

The biggest increase is Shengxiang Biology. The data shows that in 2020, the attributable net profit of Shengxiang Bio will be approximately 2.617 billion yuan, a year-on-year increase of over 65 times. The attributable net profit of Shijia Photonics, Oriental Bio, and Zhijiang Bio will be 39 million yuan, 1.688 billion yuan, and 928 million yuan in 2020, respectively, representing a year-on-year increase of 2542.2%, 1956.37%, and 1701.53% respectively. From the perspective of Wind industry, Shengxiang Bio, Oriental Bio, and Zhijiang Bio are all medical and healthcare companies.

Wind statistics show that among the 243 listed companies on the Science and Technology Innovation Board, there are still many stocks that have seen a year-on-year decline in net profit attributable to 2020. Specifically, the net profit attributable to 24 shares in 2020 has declined by more than 30% year-on-year, including Espressif Technology, Minxin, Haohaishengke, etc. The net profit attributable to 5 stocks including Shin Kong Optoelectronics, Sino Medical, Nuohe Zhiyuan, Ruisheng Intelligent, and Tianyi Shangjia will drop by more than 50% in 2020.

The net profit attributable to 14 shares exceeded 100 million yuan

According to Wind data, there are 18 sci-tech innovation board listed companies in a state of loss in 2020 attributable net profits.

Specifically, among the 18 companies listed on the Science and Technology Innovation Board, 14 stocks will have attributable net profit losses exceeding 100 million yuan in 2020, including Qingyun Technology, Frontier Biology, and Zejing Pharmaceuticals.

The data disclosed by Wind shows that among the 18 sci-tech innovation board listed companies that have attributable net profit losses in 2020, Junshi Biologics has the largest amount of losses. The data shows that Junshi Bio will have a net profit loss of approximately 1.669 billion yuan in 2020.

It is understood that Junshi Biotech was listed on July 15, 2020 and is an innovation-driven biopharmaceutical company. Regarding the reason for the performance loss, Junshi Biotech stated that it was mainly because the company’s operating income could not fully cover the continuously increasing R&D investment in research projects and reserve R&D projects. Junshi Bio also stated that the company reserves a number of research projects in the early preclinical research stage, and the company will continue to invest in large-scale research and development in the future to complete preclinical research, clinical trials and preparations for new drugs. The company’s product pipeline research and development business, and the company’s new drug listing application and new drug market promotion will also incur high costs, which may lead to further expansion of the company’s losses.

After Junshi Biologics is Shenzhou Cell, the company’s attributable net profit loss in 2020 is about 713 million yuan.

It is worth mentioning that according to Wind data statistics, among the 18 sci-tech innovation board listed companies that have a net profit loss in 2020, 14 are companies with “U”, accounting for about the proportion of the number of companies with a net profit loss in 2020. 77.78%.

According to the industry to which Wind belongs, among the 18 sci-tech innovation board listed companies that will have a net profit loss in 2020, 9 companies including Junshi Bio, Shenzhou Cell, Biotech, and Kangsino belong to the healthcare industry. Qingyun Technology, Youke Six companies, including Deer, Cambrian, etc., belong to the information technology industry, while three companies, Funeng Technology, Eft, and Yihuatong, belong to the industrial field.

Song Qinghui, a well-known economist, believes that most of the companies with performance losses in the science and technology board stocks are biomedical innovation companies. From the perspective of the general development cycle, the large R&D investment before the product launches, and the situation of sustained losses or even no income in the short term is the inevitable pain for the growth of these companies.

4 shares are now listed for the first loss

It is worth noting that the 4 shares of You Kede, Funeng Technology, Sansheng Guojian, and Youfang Technology will usher in their first losses on the market.

Excluding the companies with “U”, among the 18 sci-tech innovation board listed companies with a net profit loss in 2020, Youqo will have the worst performance. According to the 2020 performance bulletin disclosed by Youkede, in 2020, Youkede realized operating income of approximately 2.466 billion yuan, a year-on-year increase of 62.79%; the corresponding realized net profit loss was approximately 341 million yuan, which turned from profit to loss year-on-year.

It is understood that Ukerde was listed on January 20, 2020. It is a third-party cloud computing service provider and one of the first companies to pass the certification of trusted cloud services. It adopts three modes: public cloud, private cloud, and hybrid cloud. Users provide services. This is also the first loss in the annual report of Ukde since its listing.

Regarding the specific reasons for the company’s 2020 attributable net profit loss, a relevant person of Youkede said in an interview with a reporter from Beijing Business Daily, “We are currently in the silent period of annual reports. The 2020 annual report will be issued on April 27. The matter will be explained in detail”.

In addition to You Kede, Funeng Technology, Sansheng Guojian, and Youfang Technology also experienced their first losses on the market. It is understood that Sansheng Guojian went public on July 22, 2020, and is mainly engaged in the research and development, production and sales of antibody drugs. The performance bulletin shows that Sansheng Guojian will have a net profit loss of about 200 million yuan in 2020. Before listing, 3SBio Group maintained its profitability in its performance. Data show that from 2017 to 2019, the attributable net profit of Sansheng Guojian was approximately 390 million yuan, 370 million yuan, and 230 million yuan, respectively.

Funeng Technology and Youfang Technology were listed on July 17, 2020 and January 23, 2020 respectively. The net profit attributable to Funeng Technology and Youfang Technology in 2020 will be approximately -316 million yuan and -69 million yuan, respectively.

Xu Xiaoheng, an investment and financing expert, said that investors should be cautious in investing in stocks that have “changed their faces” after listing.

Beijing Commercial Daily reporter Liu Fengru