Major progress in tariff negotiations, is a big reversal coming? | Today's important news recap

0512 | Dolphin Research Key Focus:

🐬 Macro/Industry

1、The high-level China-US trade talks were held in Geneva, Switzerland from May 10 to 11. The joint statement was issued after today's A-share market close, with tariff war developments exceeding expectations: The US will suspend 24% tariffs on Chinese goods for an initial 90-day period, retaining the remaining 10% tariffs on these goods; China has reciprocally retained 10% tariffs. While there is no major progress yet on US high-tech embargoes and China's rare earth countermeasures, the tariff developments alone have far exceeded expectations. Gold prices fell immediately, Hong Kong stocks surged in late trading, and US stocks rallied collectively in overnight trading. Continued attention is needed on the 90-day negotiation progress.

🐬 Stocks

1、$XPENG-W(09868.HK)

The China Passenger Car Association released April data showing passenger car exports at 423,000 units, down 2% YoY, but the NEV share rose to 44.6%. Combined with today's strong tariff news, Nio, XPeng, and Li Auto all surged. XPeng topped new automakers' export rankings with 7,615 units shipped in Q1, a 370% YoY surge, and ranked first in sales among new automakers in 9 countries including Singapore, Denmark, Norway, Netherlands, Ireland, Finland, Portugal, Belgium, and Israel. Domestic performance was equally impressive, with XPeng shares up over 11% today.

2、$CATL(03750.HK)

CATL officially launched its Hong Kong IPO, with a maximum offering price of HK$263 per share (approx. RMB244.6). As of May 9 close, CATL's A-share price was RMB248.27, implying about a 1% discount for the H-share offering. It is expected to list on the HKEX main board on May 20.

🐬 Top Sectors

China A-shares: Aerospace & Defense, Tobacco, Financial Exchanges, and Data;

Hong Kong: Electronic Components, Aerospace & Defense, Electronic Equipment & Services;

US: Marine Ports-Operators, Silver, Precious Metals & Minerals.

🐬 Tomorrow's Watchlist

1、JD.com, Sea, and Tencent Music will report earnings; Dolphin Research will track and provide analysis;

2、US Seasonally Adjusted CPI MoM, US Unadjusted CPI YoY, US Unadjusted Core CPI YoY.

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