Hong Kong and A-shares fell across the board. Can the bull market continue?
Good afternoon, everyone! I am Dolphin Jun.
Today, both the Hong Kong and A-share markets experienced a significant pullback, with the Hang Seng Index directly breaking through the 20,000-point mark in the afternoon. Chinese concept stocks were hit hard, with Meituan and JD.com both dropping over 5%. With the U.S. election concluded, there remains uncertainty regarding Trump's policies, and the previously optimistic expectations have been overly priced in, exacerbating market volatility.
Most sectors, including semiconductors and consumer goods, saw declines, while the pharmaceutical sector, which has been lurking at the bottom, surged against the trend today. This is somewhat related to the late announcement by the National Healthcare Security Administration and the Ministry of Finance regarding the "Notice on Doing a Good Job in Prepayment of Medical Insurance Funds."
Here are some key stock news that Dolphin Jun is focusing on today :
1. $Goertek(002241.SZ) : Goertek has been performing strongly recently, with a surge to the daily limit during the midday session before retreating, ultimately closing up 6.89%. The news from Ming-Chi Kuo stating that "Apple will enter the smart home IP camera market for the first time" has catalyzed significant interest, with Apple planning to start mass production in 2026, targeting an annual shipment volume of ten million units. Goertek has obtained product NPI and is the exclusive assembler.
2. $Baidu(BIDU.US) : The 2024 Baidu World Conference is being held today in Shanghai, with the main topics still revolving around AI. The first Baidu AI glasses were launched, featuring first-person perspective shooting, walking while asking questions, object recognition encyclopedia, audio-visual translation, and smart memo functions. They also introduced a multi-agent collaboration tool called "Miao Da," which is said to be a software that allows anyone to realize any idea without needing to write code, giving everyone the capabilities of a programmer.
3. $LEAPMOTOR(09863.HK) : Leapmotor announced its financial report last night, and overall the data is positive. The most impressive aspect is the quarter-on-quarter rebound in automotive gross margin, which has directly led to a significant reduction in losses for Leapmotor this quarter. Dolphin Jun's interpretation of the financial report and summary can be found in "Leapmotor: Has Become the Accelerated 'Leading Ideal'?" and "Leapmotor: Sales Target of 500,000 Units Next Year, Gross Margin Above 10% (3Q24 Conference Call Summary)"
4. Tonight, Dolphin will focus on the financial reports of Sea and Tencent Music and provide interpretative analysis.
Key Focus for Tomorrow:
In terms of economic data, the main focus will be on U.S. seasonally adjusted core CPI month-on-month, U.S. seasonally adjusted CPI month-on-month, U.S. unadjusted core CPI year-on-year, U.S. unadjusted CPI year-on-year.
In terms of financial reports, the key focus will be on the financial reports of Tencent and Spotify.
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