Tariff impact continue; ASML's financial report intensifies concerns of the market| Today's important news review
0416 ｜ Dolphin Research Key Focus:
🐬 Macroeconomics/Industry
1. The National Bureau of Statistics released data showing that the GDP in the first quarter was 31.8758 trillion yuan, a year-on-year increase of 5.4% at constant prices, and a quarter-on-quarter increase of 1.2% compared to the fourth quarter of last year. The performance was relatively better than expected. In March, the total retail sales of consumer goods reached 4.094 trillion yuan, a year-on-year increase of 5.9%, indicating that consumption is beginning to stabilize. Dolphin Research's commentary on retail sales can be found in “March 2025 Retail Sales: Is the Spring of Consumption Really Coming Under Policy Support?”. Today, the Hong Kong and A-share markets fell in early trading, but funds entered the market near the close in the afternoon, with the Shanghai Composite Index closing strongly in the green.
2. The White House announced that due to retaliatory measures taken by China, goods exported from China to the United States now face tariffs as high as 245% (only on certain products). The current increase in tariffs has less substantial economic significance and carries more pressure; today, the Ministry of Foreign Affairs also clearly responded that “China is unwilling to fight, but will never be afraid to fight.”
🐬 Individual Stocks
1. $NVIDIA(NVDA.US)
NVIDIA stated that it received notification from the U.S. government that exporting H20 chips and chips that meet H20 memory bandwidth and interconnect bandwidth to countries and regions such as China requires a license. The company is preparing to recognize potential inventory and purchase agreement losses of up to $5.5 billion. This matter significantly impacts NVIDIA, which fell over 6% in after-hours trading due to the news. Dolphin Research has already provided commentary at noon in “H20 Has Become a Point of Conflict Between Both Sides”.
2. $ASML(ASML.US)
ASML released its Q1 financial report, showing revenue of 7.742 billion euros and a net profit of 2.355 billion euros. New orders in the first quarter saw a significant decline, and the uncertainty regarding the impact of tariffs remains high. U.S. stocks fell over 5% in after-hours trading. Dolphin Research will provide a detailed analysis tonight, so stay tuned.
🐬 Leading Sectors
Shanghai and Shenzhen: Railways - Freight and Passenger Transport, Water and Soft Drinks, Integrated Oil and Gas Companies;
Hong Kong Stocks: Data Processing and Outsourcing Services, Packaging, Oil and Gas Refining and Sales;U.S. Stocks: Tires and Rubber, Movies and Entertainment, Precious Metals and Minerals.
🐬 Focus for Next Monday
1. TSMC will announce its financial report, and Dolphin Research will track and provide interpretative analysis.
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