A series of big packages landed, the stock market opened higher and then fell back｜Today's important news review
0507 | Dolphin Research Key Focus:
🐬 Macro/Industry
1、At 9:00 AM today, the State Council Information Office held a press conference, announcing a package of monetary policy measures, mainly divided into three categories with a total of ten measures. The most significant include: a 0.5 percentage point reduction in the reserve requirement ratio; a 0.1 percentage point cut in policy interest rates; and a 0.25 percentage point decrease in personal housing provident fund loan rates. Stimulated by news of high-level U.S.-China trade talks, Hong Kong and A-shares opened higher in early trading. However, due to the market's already high expectations for the policy package, Asian stocks generally retreated after the initial rise.
2、The Ministry of Foreign Affairs announced that Vice Premier He Lifeng will visit Switzerland from May 9 to 12 and hold talks with U.S. representatives during the visit. The choice of a third-party country for the talks, coupled with statements from the Ministry of Commerce spokesperson during the subsequent Q&A session, indicates that neither side has significantly softened their stance. While the talks may have some ice-breaking effect, it is unlikely that satisfactory results for both sides will be achieved in the short term, and the tug-of-war will continue.
🐬 Stocks
1、Hong Kong Exchanges and Clearing Limited (HKEX)
HKEX officially launched the "Tech Connect" initiative to further facilitate the listing applications of specialized tech companies and biotech firms, allowing these companies to submit their applications confidentially. Notably, in addition to providing professional assistance in IPO preparations, the exchange will also permit specialized tech and biotech companies to submit their applications on a confidential basis.
2、Tesla
Data from New AutoMotive shows that Tesla's UK sales in April plummeted 62% year-over-year, marking its worst month in over two years. This decline is partly attributed to Elon Musk's close ties with Trump and his political stance in Europe, which has led to public dissatisfaction with the company. Additionally, Tesla faces increasing competitive pressure from other automakers in overseas markets, resulting in a significant drop in its European sales in April.
3、Key Earnings Reports and Conference Calls
AMD:《AMD: "Outmaneuvering" Intel and Now Turning Up the Heat on Nvidia?》、《AMD (Minutes): AI GPU to Achieve Double-Digit Growth This Year》;
Rivian:《Rivian: Surviving 2025, Can the R2 Pull Off a "Miraculous Comeback"?》.
Disney, Uber, and Unity will release their earnings reports tonight, and Dolphin Research will provide timely analysis.
🐬 Top Gainers
Shanghai/Shenzhen: Highway-Passenger Transport, Aerospace & Defense, Food Distributors;
Hong Kong: Insurance Brokers, Furniture/Home Improvement Retailers, Real Estate Investment Trusts (REITs);
U.S.: Marine Ports-Operators, Silver, Precious Metals & Minerals.
🐬 Tomorrow's Focus
1、U.S. Federal Reserve Interest Rate Decision (Upper Limit), U.S. Wholesale Sales MoM, U.S. New York Fed 1-Year Inflation Expectations;
2、SMIC, Applovin, Shopify, ARM Earnings Releases.
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