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不死鸟.
11-02 00:03
$MRNA期权收益策略ETF-YieldMax(MRNY)$
不死鸟.
10-27
thanks
不死鸟.
10-26
I think C.-5%-+5%
不死鸟.
10-26
$美国超微公司(AMD)$
不死鸟.
10-19
$MRNA期权收益策略ETF-YieldMax(MRNY)$
不死鸟.
10-12
$MRNA期权收益策略ETF-YieldMax(MRNY)$
不死鸟.
10-05
$MRNA期权收益策略ETF-YieldMax(MRNY)$
不死鸟.
09-28
$美国超微公司(AMD)$
不死鸟.
09-21
$MRNA期权收益策略ETF-YieldMax(MRNY)$
不死鸟.
09-14
$MRNA期权收益策略ETF-YieldMax(MRNY)$
不死鸟.
09-07
$MRNA期权收益策略ETF-YieldMax(MRNY)$
不死鸟.
09-04
$MRNA期权收益策略ETF-YieldMax(MRNY)$
不死鸟.
08-25
$MRNA期权收益策略ETF-YieldMax(MRNY)$
不死鸟.
08-17
$美国超微公司(AMD)$
不死鸟.
08-10
$美国超微公司(AMD)$
不死鸟.
08-03
$美国超微公司(AMD)$
不死鸟.
08-03
$美国超微公司(AMD)$
不死鸟.
08-03
$美国超微公司(AMD)$
不死鸟.
07-27
$美国超微公司(AMD)$
不死鸟.
07-20
$美国超微公司(AMD)$
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brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1644708223,"share":"https://ttm.financial/m/news/2211246925?lang=en_US&edition=fundamental","pubTime":"2022-02-13 07:23","market":"us","language":"en","title":"Credit Suisse Entities Agree to Settle Lawsuit in U.S. for $81 Million - court filing","url":"https://stock-news.laohu8.com/highlight/detail?id=2211246925","media":"Reuters","summary":"WASHINGTON, Feb 12 (Reuters) - Credit Suisse Group AG entities, among six defendants in a lawsuit or","content":"<html><head></head><body><p>WASHINGTON, Feb 12 (Reuters) - Credit Suisse Group AG entities, among six defendants in a lawsuit originally filed by Iowa Public Employees Retirement System and other retirement associations, has agreed to pay $81 million, the first to agree to settle, the law firm Cohen Milstein Sellers & Toll PLLC said in a release.</p><p>"This first settlement agreement includes both an $81 million cash payment and an obligation on the part of Credit Suisse to provide cooperation to plaintiffs in litigating and ultimately trying their case against the remaining defendants," lawyers for the plaintiffs said in a court filing late on Friday.</p><p>The plaintiffs had accused units of Credit Suisse, Goldman Sachs Group Inc , JPMorgan Chase & Co and three other banks of conspiring since 2009 to keep the stock lending market "in the stone age" by boycotting startup platforms like AQS or Data Explorers. They accused the banks of doing this in order to charge excessive fees to investors.</p><p>Credit Suisse said in a statement that it believed that the plaintiffs' claims were without merit but "we are pleased to resolve the litigation."</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Credit Suisse Entities Agree to Settle Lawsuit in U.S. for $81 Million - court filing</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCredit Suisse Entities Agree to Settle Lawsuit in U.S. for $81 Million - court filing\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-02-13 07:23</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>WASHINGTON, Feb 12 (Reuters) - Credit Suisse Group AG entities, among six defendants in a lawsuit originally filed by Iowa Public Employees Retirement System and other retirement associations, has agreed to pay $81 million, the first to agree to settle, the law firm Cohen Milstein Sellers & Toll PLLC said in a release.</p><p>"This first settlement agreement includes both an $81 million cash payment and an obligation on the part of Credit Suisse to provide cooperation to plaintiffs in litigating and ultimately trying their case against the remaining defendants," lawyers for the plaintiffs said in a court filing late on Friday.</p><p>The plaintiffs had accused units of Credit Suisse, Goldman Sachs Group Inc , JPMorgan Chase & Co and three other banks of conspiring since 2009 to keep the stock lending market "in the stone age" by boycotting startup platforms like AQS or Data Explorers. They accused the banks of doing this in order to charge excessive fees to investors.</p><p>Credit Suisse said in a statement that it believed that the plaintiffs' claims were without merit but "we are pleased to resolve the litigation."</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4534":"瑞士信贷持仓","BK4552":"Archegos爆仓风波概念","BK4127":"投资银行业与经纪业","JPM":"摩根大通","BK4504":"桥水持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4207":"综合性银行","BK4566":"资本集团","BK4550":"红杉资本持仓"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2211246925","content_text":"WASHINGTON, Feb 12 (Reuters) - Credit Suisse Group AG entities, among six defendants in a lawsuit originally filed by Iowa Public Employees Retirement System and other retirement associations, has agreed to pay $81 million, the first to agree to settle, the law firm Cohen Milstein Sellers & Toll PLLC said in a release.\"This first settlement agreement includes both an $81 million cash payment and an obligation on the part of Credit Suisse to provide cooperation to plaintiffs in litigating and ultimately trying their case against the remaining defendants,\" lawyers for the plaintiffs said in a court filing late on Friday.The plaintiffs had accused units of Credit Suisse, Goldman Sachs Group Inc , JPMorgan Chase & Co and three other banks of conspiring since 2009 to keep the stock lending market \"in the stone age\" by boycotting startup platforms like AQS or Data Explorers. They accused the banks of doing this in order to charge excessive fees to investors.Credit Suisse said in a statement that it believed that the plaintiffs' claims were without merit but \"we are pleased to resolve the litigation.\"","news_type":1,"symbols_score_info":{"831010":1,"831039":1,"831305":1,"831370":1,"831445":1,"831726":1,"831768":1,"831832":1,"831856":1,"831961":1,"CS":0.9,"JPM":0.9}},"isVote":1,"tweetType":1,"viewCount":1622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9099405738,"gmtCreate":1643407298256,"gmtModify":1676533816258,"author":{"id":"4094536006197120","authorId":"4094536006197120","name":"不死鸟.","avatar":"https://static.tigerbbs.com/58aa91ee114515837a7c24d97a1ac173","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4094536006197120","idStr":"4094536006197120"},"themes":[],"title":"","htmlText":"ok,thanks","listText":"ok,thanks","text":"ok,thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9099405738","repostId":"1121905464","repostType":4,"repost":{"id":"1121905464","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1642411108,"share":"https://ttm.financial/m/news/1121905464?lang=en_US&edition=fundamental","pubTime":"2022-01-17 17:18","market":"fut","language":"zh","title":"Reminder: A list of major market closures during the Spring Festival holiday.","url":"https://stock-news.laohu8.com/highlight/detail?id=1121905464","media":"老虎资讯综合","summary":"农历新年假期即将来临，部分交易所的开市和收市时间有所变动，敬请各位投资者密切留意。港股：2022年1月31日（星期一）半日交易，下午休市。2022年2月1日（星期二）至2月3日（星期四）休市。美股：","content":"<p><html><head></head><body>With the Lunar New Year holiday approaching, the opening and closing times of some exchanges have changed. Investors are advised to pay close attention.<img src=\"https://static.tigerbbs.com/2aef2112c6fa0ba265b518492f29cb15\" tg-width=\"1080\" tg-height=\"1085\" referrerpolicy=\"no-referrer\"/></p><p><b>Hong Kong stocks:</b></p><p>Monday, January 31, 2022: Half-day trading, closed in the afternoon.</p><p>The market is closed from Tuesday, February 1 to Thursday, February 3, 2022.</p><p><b>US stocks:</b></p><p>The market will reopen as usual.</p><p><b>A-shares:</b></p><p>The market will be closed from Monday, January 31 to Friday, February 4, 2022.</p><p><b>Australian stocks:</b></p><p>The market will reopen as usual.</p><p><b>Singapore Market:</b></p><p>Monday, January 31, 2022: Half-day trading, closed in the afternoon.</p><p>The market is closed from Tuesday, February 1 to Wednesday, February 2, 2022.</p><p><b>Hong Kong Stock Connect:</b></p><p>The Stock Connect service will not be available from Thursday, January 27 to Friday, February 4, 2022.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-Hong</b></p><p>No service from Monday, January 31 to Friday, February 4, 2022.</p><p>No service from Monday, January 31 to Friday, February 4, 2022.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: A list of major market closures during the Spring Festival holiday.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: A list of major market closures during the Spring Festival holiday.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-01-17 17:18</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>With the Lunar New Year holiday approaching, the opening and closing times of some exchanges have changed. Investors are advised to pay close attention.<img src=\"https://static.tigerbbs.com/2aef2112c6fa0ba265b518492f29cb15\" tg-width=\"1080\" tg-height=\"1085\" referrerpolicy=\"no-referrer\"/></p><p><b>Hong Kong stocks:</b></p><p>Monday, January 31, 2022: Half-day trading, closed in the afternoon.</p><p>The market is closed from Tuesday, February 1 to Thursday, February 3, 2022.</p><p><b>US stocks:</b></p><p>The market will reopen as usual.</p><p><b>A-shares:</b></p><p>The market will be closed from Monday, January 31 to Friday, February 4, 2022.</p><p><b>Australian stocks:</b></p><p>The market will reopen as usual.</p><p><b>Singapore Market:</b></p><p>Monday, January 31, 2022: Half-day trading, closed in the afternoon.</p><p>The market is closed from Tuesday, February 1 to Wednesday, February 2, 2022.</p><p><b>Hong Kong Stock Connect:</b></p><p>The Stock Connect service will not be available from Thursday, January 27 to Friday, February 4, 2022.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-Hong</b></p><p>No service from Monday, January 31 to Friday, February 4, 2022.</p><p>No service from Monday, January 31 to Friday, February 4, 2022.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/752af43ca78e3ed4d3be0dbeaf4ea23c","relate_stocks":{"399001":"深证成指","399006":"创业板指","HSTECH":"恒生科技指数",".DJI":"道琼斯","HSCCI":"红筹指数","HSCEI":"国企指数","000001.SH":"上证指数","HSI":"恒生指数","STI.SI":"富时新加坡海峡指数",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121905464","content_text":"农历新年假期即将来临，部分交易所的开市和收市时间有所变动，敬请各位投资者密切留意。港股：2022年1月31日（星期一）半日交易，下午休市。2022年2月1日（星期二）至2月3日（星期四）休市。美股：照常开市。A股：2022年1月31日（星期一）至2月4日（星期五）休市。澳股：照常开市。新加坡市场：2022年1月31日（星期一）半日交易，下午休市。2022年2月1日（星期二）至2月2日（星期三）休市。港股通：2022年1月27日（星期四）至2月4日（星期五）不提供港股通服务。沪股通、深股通：2022年1月31日（星期一）至2月4日（星期五）不提供服务。2022年1月31日（星期一）至2月4日（星期五）不提供服务。","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"HSI":0.9,".DJI":0.9,"HSTECH":0.9,"000001.SH":0.9,".SPX":0.9,".IXIC":0.9,"HSCCI":0.9,"STI.SI":0.9,"HSCEI":0.9}},"isVote":1,"tweetType":1,"viewCount":1694,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9010184466,"gmtCreate":1648289159582,"gmtModify":1676534325789,"author":{"id":"4094536006197120","authorId":"4094536006197120","name":"不死鸟.","avatar":"https://static.tigerbbs.com/58aa91ee114515837a7c24d97a1ac173","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4094536006197120","idStr":"4094536006197120"},"themes":[],"title":"","htmlText":"thanks for sharing👍","listText":"thanks for sharing👍","text":"thanks for sharing👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9010184466","repostId":"1111363520","repostType":2,"repost":{"id":"1111363520","kind":"news","pubTimestamp":1648252161,"share":"https://ttm.financial/m/news/1111363520?lang=en_US&edition=fundamental","pubTime":"2022-03-26 07:49","market":"us","language":"en","title":"What Are MANGO Stocks? Why MANGO Stocks Could Outperform？","url":"https://stock-news.laohu8.com/highlight/detail?id=1111363520","media":"investorplace","summary":"MANGO stocks, a new term investors are adding to their vocabularies today, are a group of semiconduc","content":"<div>\n<p>MANGO stocks, a new term investors are adding to their vocabularies today, are a group of semiconductor stocks. This new acronym, a riff on the Nasdaq Composite’s top-performing FAANG tech stocks, is ...</p>\n\n<a href=\"https://investorplace.com/2022/03/what-are-mango-stocks/\">Source Link</a>\n\n</div>\n","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What Are MANGO Stocks? Why MANGO Stocks Could Outperform？</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Are MANGO Stocks? Why MANGO Stocks Could Outperform？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-26 07:49 GMT+8 <a href=https://investorplace.com/2022/03/what-are-mango-stocks/><strong>investorplace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MANGO stocks, a new term investors are adding to their vocabularies today, are a group of semiconductor stocks. This new acronym, a riff on the Nasdaq Composite’s top-performing FAANG tech stocks, is ...</p>\n\n<a href=\"https://investorplace.com/2022/03/what-are-mango-stocks/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AVGO":"博通","ADI":"亚德诺","MRVL":"迈威尔科技","GFS":"GLOBALFOUNDRIES Inc.","NVDA":"英伟达","AMD":"美国超微公司","ON":"安森美半导体"},"source_url":"https://investorplace.com/2022/03/what-are-mango-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111363520","content_text":"MANGO stocks, a new term investors are adding to their vocabularies today, are a group of semiconductor stocks. This new acronym, a riff on the Nasdaq Composite’s top-performing FAANG tech stocks, is generating interest. So what are the MANGO stocks and what else do you need to know?Like the fruit, MANGO stocks have provided sweet returns for investors recently. Bank of America analyst Vivek Arya suggests this group of chip stocks — Marvell Technology (NASDAQ:MRVL), Advanced Micro Devices (NASDAQ:AMD), Broadcom (NASDAQ:AVGO), Analog Devices (NASDAQ:ADI), Nvidia (NASDAQ:NVDA), GlobalFoundries (NASDAQ:GFS) and ON Semiconductor (NASDAQ:ON) — could be leaders in the future economy. Notably, this analyst believes that these chip stocks can outperform despite various market concerns right now.Finding a group of stocks that is able to weather this current environment is what many investors are after. Indeed, there is an impressive amount of uncertainty weighing on Wall Street right now. Investors are concerned with inflation, interest rate hikes, geopolitical tensions and supply chain bottlenecks.The semiconductor sector is exposed to these issues. However, there are reasons why analysts are growing increasingly bullish on these stocks.Let’s dive into what investors may want to consider with chip stocks right now.Why MANGO Stocks Could OutperformDespite the impacts of the pandemic and supply chain woes on chip makers, the Bank of America analyst believes there is reason to be bullish on MANGO stocks. This is because demand has been increasing for chips for some time, and the underlying technology is improving. Assuming these tailwinds remain in place, MANGO stocks could be key winners.Additionally, Arya sees a few other things to like about chip stocks. Many of the names in the MANGO acronym have ties to the cloud and artificial intelligence. Others are in the electric vehicle space.Most investors can wrap their heads around this rather easy-to-understand thesis. While semiconductor stocks have struggled this year, the for this sector remain bright. Thus, MANGO stocks are the new tech grouping investors may want to keep on their radar right now.","news_type":1,"symbols_score_info":{"NVDA":0.9,"ADI":0.9,"GFS":0.9,"MRVL":0.9,"AVGO":0.9,"ON":0.9,"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":1632,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9956682793,"gmtCreate":1673994489312,"gmtModify":1676538912875,"author":{"id":"4094536006197120","authorId":"4094536006197120","name":"不死鸟.","avatar":"https://static.tigerbbs.com/58aa91ee114515837a7c24d97a1ac173","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4094536006197120","idStr":"4094536006197120"},"themes":[],"title":"","htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9956682793","isVote":1,"tweetType":1,"viewCount":1559,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9933146157,"gmtCreate":1662255295879,"gmtModify":1676537024686,"author":{"id":"4094536006197120","authorId":"4094536006197120","name":"不死鸟.","avatar":"https://static.tigerbbs.com/58aa91ee114515837a7c24d97a1ac173","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4094536006197120","idStr":"4094536006197120"},"themes":[],"title":"","htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9933146157","repostId":"1179759462","repostType":4,"repost":{"id":"1179759462","kind":"news","weMediaInfo":{"introduction":"张忆东从事A股港股及大类资产配置研究逾15载，连续多年获策略研究第一名，是新财富、水晶球、金牛奖、第一财经、IAMAC奖的“全满贯”第一，三次获“新财富”策略第一。该公众号是其团队研究大类资产配置、A股港股美股及其他市场的成果","home_visible":1,"media_name":"张忆东策略世界","id":"1065818805","head_image":"https://static.tigerbbs.com/ad7f636ec1274a70b86d1fdc1329e0eb"},"pubTimestamp":1662172317,"share":"https://ttm.financial/m/news/1179759462?lang=en_US&edition=fundamental","pubTime":"2022-09-03 10:31","market":"hk","language":"zh","title":"Hong Kong stocks continue to fluctuate at low levels; contrarian thinking is crucial for long-term investment.","url":"https://stock-news.laohu8.com/highlight/detail?id=1179759462","media":"张忆东策略世界","summary":"一、回顾：港股行情在底部反复拉锯3月中旬做出港股市场底的判断，并预判2季度海外市场动荡。5-6月提示港股反弹行情难一蹴而就，相比2020年，海外环境、国内房地产和疫情反复使得经济复苏的难度更大。7月上","content":"<p><html><head></head><body><b>I. Review: Hong Kong stocks fluctuated repeatedly at the bottom.</b></p><p>In mid-March, they made a judgment on the bottom of the Hong Kong stock market and predicted volatility in overseas markets in the second quarter. The rebound in Hong Kong stocks in May and June is unlikely to happen overnight. Compared to 2020, the overseas environment, the domestic real estate market, and the recurring pandemic have made economic recovery more difficult. In early July, it was pointed out that the pandemic had resurfaced, and the Hong Kong stock market would repeatedly fluctuate at the bottom. In early August, the emphasis continued on the tug-of-war pattern at the bottom of Hong Kong stocks.</p><p><b>II. Outlook: Opportunities Amidst Crisis: With the Chinese economy facing pressure and overseas liquidity continuing to tighten, Hong Kong stocks will continue their tug-of-war at the bottom.</b></p><p>—Although the economic recovery remains weak, Hong Kong stocks already contain many pessimistic expectations, and the earnings expectations for Hong Kong stocks in the interim report season have improved after reaching a negative level. The Hang Seng Index's consensus EPS growth forecast for 2023, which had been continuously lowered since the second quarter of 2021, stopped its downward trend in August 2022. Among them, the information technology industry has seen a slight rebound in the last four weeks after experiencing a significant reduction in profit forecasts.</p><p>—Progress has been made in regulatory cooperation between China and the United States, reducing the risk of liquidity shocks to Hong Kong stocks, especially internet companies, caused by the delisting of Chinese concept stocks.</p><p>—Focus on high-growth sub-sectors and the turnaround opportunities in some industries. On August 24, the State Council executive meeting proposed to increase the quota by more than 300 billion yuan on top of the 300 billion yuan of policy-based development finance instruments already allocated to projects. With policy support, the prosperity of advanced manufacturing continues to remain high. July industrial enterprise profits showed that, in addition to upstream industries, electrical equipment maintained high growth, while automobiles saw significant improvement. Pessimistic expectations for the real estate market have eased somewhat, and Chinese real estate dollar bonds have rebounded significantly.</p><p>—The Fed adopted a hawkish stance, and the \"Volcker moment\" reappeared at the 0826 Jackson Hole summit; overseas liquidity risks are still some time away from being resolved. 1) Although inflation data fell in July, inflation remained at a high level. A strong labor market, rising labor costs, rising food prices, uncertainty about energy prices, persistently high rents, and geopolitical risks between Russia and Ukraine continue to support U.S. inflation levels. 2) With the November midterm elections approaching, fighting inflation remains a political focus for the White House.</p><p><b>III. Investment Strategy: Defense and Counterattack</b></p><p><ul><li>Main theme 1: Selecting stocks with high cost-performance ratios in high-growth sectors. The energy technology industry chain, represented by new energy and new energy vehicles, has benefited from improved demand, supply chain recovery, and month-on-month cost reductions.</p><p></li><li>Main theme two: Improving the predicament. We await the improvement of China's economic expectations and the improvement of the industrial regulatory environment to drive the quantitative to qualitative change in the performance of related listed companies. We have carefully selected alpha companies in the internet, property management, food and beverage, and pharmaceutical sectors.</p><p></li><li>The third main theme is to find the allocation value of \"bond-like assets\" in traditional industries. Based on long-term allocation, state-owned and central enterprise real estate stocks that can obtain low-cost funds and high-quality land reserves, undervalued and high-dividend state-owned and central enterprise energy stocks, and the revaluation of leading companies in the financial, transportation, and building materials sectors after economic expectations improve.</p><p>Risk warning: Global economic growth slows down; The monetary policies of China and the United States fell short of expectations; Risks of great power competition</p><p></li></ul><b>Main text of the report</b></p><p><b>1. Review: Hong Kong stocks fluctuated repeatedly at the bottom.</b></p><p><b>In mid-March, they made a judgment on the bottom of the Hong Kong stock market and predicted volatility in overseas markets in the second quarter. The rebound in Hong Kong stocks in May and June is unlikely to happen overnight. Compared to 2020, the overseas environment, the domestic real estate market, and the recurring pandemic have made economic recovery more difficult. In early July, it was pointed out that the pandemic had resurfaced, and the Hong Kong stock market would repeatedly fluctuate at the bottom. In early August, the emphasis continued on the tug-of-war pattern at the bottom of Hong Kong stocks.</b></p><p><ul><li>The March 16 article, \"Irrational Decline and Finding the Power of Confidence,\" suggests that investors be more optimistic, downplay the short-term mania of \"Mr. Market,\" and focus more on the essence of investing—the long-term value of companies.</p><p></li><li>On May 3, the article \"Still Cold, Strategic Standoff Phase Expected to Begin\" judged that the overall market tone has turned \"warm\": \"The phase of excessive pessimism about China's fundamentals is expected to pass in May, and confidence will gradually recover.\" At the \"still cold\" level, it emphasized the adjustment pressure in overseas markets: \"US stocks may repeat 'the fourth quarter of 2018' in the mid-term.\" It was pointed out that \"given the high transmissibility of virus mutation, coordinating epidemic prevention and control with economic and social development faces greater challenges than in 2020.\"</p><p></li><li>On June 2, the article \"Fighting a 'Guerrilla War' During the Strategic Stalemate in Hong Kong Stocks\" clearly stated that \"the bottom of the Hong Kong stock market in March can basically be confirmed as the market bottom based on various factors such as political and economic valuations, and the release of systemic risks over the past year has basically ended.\" The trend of recovery in the Chinese economy and the performance of listed companies in the medium term is expected, and we are optimistic about the opportunities for strategic investment in the medium term. It was also pointed out that \"Hong Kong stocks have been ravaged by a bear market for more than a year, and it will take time for confidence to be rebuilt. It is difficult for the market to achieve a breakthrough and overnight rally.\"</p><p></li><li>The July 12 article, \"In a Turbulent World, How to Invest in Hong Kong Stocks Trading at the Bottom,\" pointed out that \"under the recurring pandemic, it is difficult to boost market confidence in the short term.\"</p><p></li><li>The article \"Winning Amidst Chaos: Going Long on China's Advanced Manufacturing\" published on August 3 pointed out that \"the Hong Kong stock market will still be tugging at the bottom, but the systemic risk is not significant.\"</p><p></li></ul><b>2. Outlook: Opportunity amidst crisis, the Chinese economy faces pressure, overseas liquidity continues to tighten, and Hong Kong stocks will continue their tug-of-war at the bottom.</b></p><p><b>2.1 Although the economic recovery remains weak, Hong Kong stocks already contain many pessimistic expectations, and earnings expectations for Hong Kong stocks in the interim report season have improved after reaching a negative level.</b></p><p>The Hang Seng Index's consensus EPS growth forecast for 2023, which had been continuously lowered since the second quarter of 2021, stopped its downward trend in August 2022. Among them, the information technology industry has seen a slight rebound in the last four weeks after experiencing a significant reduction in profit forecasts.</p><p><img src=\"https://static.tigerbbs.com/4abcef7f945380bcf6ed756c9a5d8be0\" tg-width=\"1080\" tg-height=\"495\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>2.2 Progress has been made in Sino-US regulatory cooperation, reducing the risk of liquidity shocks to Hong Kong stocks, especially internet companies, caused by the delisting of Chinese concept stocks.</b></p><p>Since March, the risk premium of the Hang Seng Index has remained high, with both the risk premium measured by the 10-year US Treasury yield and the 10-year Chinese Treasury Bond yield being more than twice the standard deviation of the average since 2011. The risk of delisting of Chinese concept stocks is one of the important reasons affecting the risk appetite of Hong Kong stocks, especially since most internet companies are listed in both Hong Kong and the United States, and investors are worried that a large number of delistings from the US stock market will trigger a liquidity shock.</p><p>\"On August 26, 2022, the China Securities Regulatory Commission (CSRC) and the Ministry of Finance of the People's Republic of China signed an audit regulatory cooperation agreement with the U.S. Public Company Accounting Oversight Board (PCAOB), and will launch related cooperation soon.\" According to a relevant official from the CSRC in response to a reporter's question, \"If subsequent cooperation can meet their respective regulatory needs, it is expected to solve the audit regulatory issues of Chinese concept stocks, thereby avoiding passive delisting from the United States.\"</p><p><img src=\"https://static.tigerbbs.com/d0fda8837eeb214c2177d52e76902924\" tg-width=\"1066\" tg-height=\"489\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>2.3. Focus on high-growth sub-sectors and the turnaround opportunities in some industries.</b></p><p><b>Economic data from July and August showed that the economic recovery was weak, and policies will continue to focus on stabilizing the economy.</b>On August 24, the State Council executive meeting proposed to increase the quota by more than 300 billion yuan on top of the 300 billion yuan of policy-based development finance instruments already allocated to projects.</p><p><b>With policy support, the prosperity of advanced manufacturing continues to remain high.</b>July industrial enterprise profits showed that, in addition to upstream industries, electrical equipment maintained high growth, while automobiles saw significant improvement. Looking at the year-on-year growth rate of cumulative profits from January to July, the growth rate for electrical equipment was 18%; Automobiles were -14%, a significant improvement from the previous value of -25% in the January-June period.</p><p><img src=\"https://static.tigerbbs.com/ffc2a262d06343072f542412d614caf0\" tg-width=\"1051\" tg-height=\"521\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>Pessimistic expectations for the real estate market have eased somewhat, and Chinese real estate dollar bonds have rebounded significantly.</b>On August 19, the National Association of Financial Market Institutional Investors (NAFMII) convened another symposium with several private real estate companies to discuss supporting them in issuing bonds for financing by enhancing their credit support through ChinaBond.</p><p><img src=\"https://static.tigerbbs.com/dc39ce31facf981686ad65e0f1417c9b\" tg-width=\"1080\" tg-height=\"555\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>2.4 The Fed adopted a hawkish stance; the 0826 Jackson Hole summit repeated the \"Volcker moment,\" and the resolution of overseas liquidity risks is still some time away.</b></p><p><b>The Jackson Hole summit on August 26 recreated the \"Volcker moment,\" confirming our previous judgment: \"Inflation for recession is actually a policy dilemma.\"</b>At the meeting, Powell emphasized that the cost of price instability would be higher than the cost of slowing growth and a weak labor market caused by high interest rates. In particular, the summary of the historical experience of the 1970s has brought about a resurgence of the \"Volcker moment\".</p><p>It will take time for the Fed to make a shift. 1) Although inflation data fell in July, inflation remained at a high level. A strong labor market, rising labor costs, rising food prices, uncertainty about energy prices, persistently high rents, and geopolitical risks between Russia and Ukraine continue to support U.S. inflation levels. 2) With the November midterm elections approaching, fighting inflation remains a political focus for the White House.</p><p><img src=\"https://static.tigerbbs.com/94d860c5515574a2809997e8b27e9993\" tg-width=\"1073\" tg-height=\"531\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>3. Investment Strategy: Defense and Counterattack</b></p><p><b>Main theme 1: Selecting stocks with high cost-performance ratios in high-growth sectors.</b>The energy technology industry chain, represented by new energy and new energy vehicles, has benefited from improved demand, supply chain recovery, and month-on-month cost reductions.</p><p><ul><li><b>Electricity operator</b>Amid deep concerns about yields and electricity prices, the valuation of the green electricity sector has experienced a significant correction, and recent events have also shown a \"correction\" to the vicious competition in the industry. After the sector experienced severe suppression, three ministries recently established a renewable energy settlement company, with the power grid taking the lead in financing to address the subsidy gap. As one of the key catalysts for the green electricity industry in the second half of the year, the resolution of the subsidy issue is expected to increase the industry's reinvestment capacity. Admittedly, the yield issue is difficult to resolve in the short term, but the current stock price of the sector has a sufficient safety margin, and we are optimistic about the growth potential brought about by the increase in installed capacity.</p><p></li><li><b>Wind power</b>Wind power companies have successively released their semi-annual reports, showing that the pandemic and high raw material prices in the first half of the year led to tight production capacity and pressure on profitability. Current valuations have fallen to historical lows. With construction starting in the second half of the year and raw material prices expected to improve, profitability is expected to recover. We recommend companies with good cost control and transmission capabilities.</p><p></li><li><b>New energy vehicle industry chain</b>Recent sales figures from key automakers have exceeded expectations, and several new energy vehicle models are expected to be launched this year. Investment focus: Benefiting from this round of stimulus policies, new energy and traditional automakers are expected to achieve rapid growth in sales volume and profitability in the second half of the year, as well as opportunities in related components driven by the trend of electrification and intelligentization.</p><p></li></ul><b>Main theme two: Improving the predicament.</b>We await the improvement of China's economic expectations and the improvement of the industrial regulatory environment to drive the quantitative to qualitative change in the performance of related listed companies. We have carefully selected alpha companies in the internet, property management, food and beverage, and pharmaceutical sectors.</p><p><ul><li><b>Internet</b>With concerns about delisting of Chinese concept stocks easing and the regulatory environment becoming more certain, the volatility of industry stock prices is expected to decrease. The internet sector has shifted from a new economy to a mature business model, focusing on short-term performance. Currently, the stock price of the internet sector implies a relatively pessimistic expectation for short-term recovery. If the pressure of epidemic prevention and control eases and the economic recovery improves marginally, the stock price will also have elasticity. In the medium term, the secondary growth curve is expected to present opportunities for differentiation, such as with cloud computing and autonomous driving.</p><p></li><li><b>Property Management</b>From the perspective of corporate governance and business operations, property management companies and real estate companies are still highly correlated. The property management sector is currently unable to achieve independent growth, and the stabilization of the real estate sector is an important prerequisite for the recovery of the property management sector. Once the real estate sector stabilizes, property management companies will have better business growth potential, a more secure financial position, and greater valuation flexibility. We are optimistic about property management companies with high operational independence, strong organic growth capabilities, and excellent profitability.</p><p></li><li><b>Food & Beverage</b>The overall food and beverage sector, represented by beer and dairy, benefits from the continued trend of consumption recovery and the marginal easing of cost pressures such as grain prices. In addition, regarding beer, the hot summer weather this year drove rapid growth in beer consumption in Q3, which is expected to be reflected in subsequent financial reports.</p><p></li><li><b>Medicine</b>Continue to be optimistic about \"pharmaceuticals + upstream + consumer healthcare\". (Industrial Securities Pharmaceutical Team)</p><p>Reasons for optimism about the pharmaceutical sector include: the impact of centralized procurement of generic drugs has gradually bottomed out, new blockbuster products (ADCs, oligonucleotides, autoimmune drugs, etc.) are expected to emerge on the supply side of innovative drugs, innovative drugs are gradually beginning to be commercialized and the value of domestic platforms is emerging (such as the recent cooperation between Sanofi and Innovent Biologics), and the global competitiveness of domestic companies is gradually improving. Upstream: The performance of many companies in this sector is expected to accelerate in the second half of the year, and the logic of self-reliance and control is expected to drive up valuations. In the consumer healthcare sector, the current prosperity remains strong, and the long-term outlook is positive. In the short term, factors such as centralized procurement of dental implants have disrupted sector sentiment, and the sector is in a period of adjustment, with adjustments aimed at accumulating upward momentum.</p><p></li></ul><b>The third main theme is to find the allocation value of \"bond-like assets\" in traditional industries.</b>Based on long-term allocation, state-owned and central enterprise real estate stocks that can obtain low-cost funds and high-quality land reserves, undervalued and high-dividend state-owned and central enterprise energy stocks, and the revaluation of leading companies in the financial, transportation, and building materials sectors after economic expectations improve.</p><p><ul><li><b>State-owned enterprise real estate stocks</b>The industry is currently in a vacuum period from continuous policy relaxation to the recovery of new home sales. However, looking ahead to the market in the second half of the year and next year, there are two possible scenarios: 1) New home sales are recovering, and the effect of policy relaxation will continue. 2) The recovery of new home sales has fallen short of expectations, and further easing policies will continue to be introduced until the market recovers. In both scenarios, the systemic risks in the real estate market will be eliminated, risky real estate companies will continue to be cleared out, private real estate companies will have neither the willingness nor the ability to increase leverage, while state-owned real estate companies that can obtain low-cost funding and high-quality land reserves will benefit from the recovering market.</p><p></li><li><b>State-owned energy stocks</b>Shift from speculating on cyclical fluctuations to allocating to leading high-dividend, value stocks. 1) The profit stability of traditional energy leaders has increased relatively. Against the backdrop of a shift in the energy structure, new supply of traditional energy sources is becoming more restrained. The risk of geopolitical conflict has increased, making the already tightly balanced supply and demand relationship more fragile, and the center of energy price fluctuations will be higher than in the past 30 years. 2) Corporate capital expenditures have decreased, the proportion available for dividends has increased significantly, the valuation system has shifted from cyclical stocks to value stocks, and the allocation attributes of bond-like stocks have become more prominent.</p><p></li><li><b>Finance</b>With weak economic expectations, rising risks in real estate companies, and pressure on social financing trends, the valuation of the financial sector has experienced a significant correction, and the Dividend rate of the Hong Kong-listed financial sector has returned to a highly attractive position. As economic expectations improve, pessimistic expectations in the industry are expected to ease.</p><p></li><li><b>transportation</b>With changes in entry and exit policies and the relaxation of the circuit breaker policy for inter-provincial travel, leading transportation companies with high dividends are ushering in an opportunity to improve their performance. The General Administration of Customs will launch the ninth version of the \"People's Republic of China Exit/Entry Health Declaration Card\" at 00:00 on August 31. The most significant change in the ninth edition is the elimination of the requirements for declaring nucleic acid test information, previous infection status, and vaccination dates for inbound and outbound personnel. Miao Muyang, Director of the Department of Industrial Development of the Ministry of Culture and Tourism, said at a press conference on August 24: \"Based on the epidemic prevention and control situation, we have dynamically adjusted the opening policies of cultural and tourism venues and further specified the 'circuit breaker' area for inter-provincial group tourism to the county level.\"</p><p></li><li><b>Building materials</b>The post-real estate cycle has bottomed out, and the fundamentals have bottomed out; excessive pessimism is not advisable. The special-purpose bonds issued in the first half of the year are expected to generate physical infrastructure work in the second half of the year, making infrastructure investment more flexible in the second half. Focus on leading building materials companies whose stock prices are at their bottom and whose true value is a \"cash cow\".</p><p><b>4. Risk warning</b></p><p></li></ul>Global economic growth is slowing, monetary policies in China and the United States are falling short of expectations, and there are risks of great power competition.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong stocks continue to fluctuate at low levels; contrarian thinking is crucial for long-term investment.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong stocks continue to fluctuate at low levels; contrarian thinking is crucial for long-term investment.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1065818805\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/ad7f636ec1274a70b86d1fdc1329e0eb);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">张忆东策略世界 </p>\n<p class=\"h-time smaller\">2022-09-03 10:31</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>I. Review: Hong Kong stocks fluctuated repeatedly at the bottom.</b></p><p>In mid-March, they made a judgment on the bottom of the Hong Kong stock market and predicted volatility in overseas markets in the second quarter. The rebound in Hong Kong stocks in May and June is unlikely to happen overnight. Compared to 2020, the overseas environment, the domestic real estate market, and the recurring pandemic have made economic recovery more difficult. In early July, it was pointed out that the pandemic had resurfaced, and the Hong Kong stock market would repeatedly fluctuate at the bottom. In early August, the emphasis continued on the tug-of-war pattern at the bottom of Hong Kong stocks.</p><p><b>II. Outlook: Opportunities Amidst Crisis: With the Chinese economy facing pressure and overseas liquidity continuing to tighten, Hong Kong stocks will continue their tug-of-war at the bottom.</b></p><p>—Although the economic recovery remains weak, Hong Kong stocks already contain many pessimistic expectations, and the earnings expectations for Hong Kong stocks in the interim report season have improved after reaching a negative level. The Hang Seng Index's consensus EPS growth forecast for 2023, which had been continuously lowered since the second quarter of 2021, stopped its downward trend in August 2022. Among them, the information technology industry has seen a slight rebound in the last four weeks after experiencing a significant reduction in profit forecasts.</p><p>—Progress has been made in regulatory cooperation between China and the United States, reducing the risk of liquidity shocks to Hong Kong stocks, especially internet companies, caused by the delisting of Chinese concept stocks.</p><p>—Focus on high-growth sub-sectors and the turnaround opportunities in some industries. On August 24, the State Council executive meeting proposed to increase the quota by more than 300 billion yuan on top of the 300 billion yuan of policy-based development finance instruments already allocated to projects. With policy support, the prosperity of advanced manufacturing continues to remain high. July industrial enterprise profits showed that, in addition to upstream industries, electrical equipment maintained high growth, while automobiles saw significant improvement. Pessimistic expectations for the real estate market have eased somewhat, and Chinese real estate dollar bonds have rebounded significantly.</p><p>—The Fed adopted a hawkish stance, and the \"Volcker moment\" reappeared at the 0826 Jackson Hole summit; overseas liquidity risks are still some time away from being resolved. 1) Although inflation data fell in July, inflation remained at a high level. A strong labor market, rising labor costs, rising food prices, uncertainty about energy prices, persistently high rents, and geopolitical risks between Russia and Ukraine continue to support U.S. inflation levels. 2) With the November midterm elections approaching, fighting inflation remains a political focus for the White House.</p><p><b>III. Investment Strategy: Defense and Counterattack</b></p><p><ul><li>Main theme 1: Selecting stocks with high cost-performance ratios in high-growth sectors. The energy technology industry chain, represented by new energy and new energy vehicles, has benefited from improved demand, supply chain recovery, and month-on-month cost reductions.</p><p></li><li>Main theme two: Improving the predicament. We await the improvement of China's economic expectations and the improvement of the industrial regulatory environment to drive the quantitative to qualitative change in the performance of related listed companies. We have carefully selected alpha companies in the internet, property management, food and beverage, and pharmaceutical sectors.</p><p></li><li>The third main theme is to find the allocation value of \"bond-like assets\" in traditional industries. Based on long-term allocation, state-owned and central enterprise real estate stocks that can obtain low-cost funds and high-quality land reserves, undervalued and high-dividend state-owned and central enterprise energy stocks, and the revaluation of leading companies in the financial, transportation, and building materials sectors after economic expectations improve.</p><p>Risk warning: Global economic growth slows down; The monetary policies of China and the United States fell short of expectations; Risks of great power competition</p><p></li></ul><b>Main text of the report</b></p><p><b>1. Review: Hong Kong stocks fluctuated repeatedly at the bottom.</b></p><p><b>In mid-March, they made a judgment on the bottom of the Hong Kong stock market and predicted volatility in overseas markets in the second quarter. The rebound in Hong Kong stocks in May and June is unlikely to happen overnight. Compared to 2020, the overseas environment, the domestic real estate market, and the recurring pandemic have made economic recovery more difficult. In early July, it was pointed out that the pandemic had resurfaced, and the Hong Kong stock market would repeatedly fluctuate at the bottom. In early August, the emphasis continued on the tug-of-war pattern at the bottom of Hong Kong stocks.</b></p><p><ul><li>The March 16 article, \"Irrational Decline and Finding the Power of Confidence,\" suggests that investors be more optimistic, downplay the short-term mania of \"Mr. Market,\" and focus more on the essence of investing—the long-term value of companies.</p><p></li><li>On May 3, the article \"Still Cold, Strategic Standoff Phase Expected to Begin\" judged that the overall market tone has turned \"warm\": \"The phase of excessive pessimism about China's fundamentals is expected to pass in May, and confidence will gradually recover.\" At the \"still cold\" level, it emphasized the adjustment pressure in overseas markets: \"US stocks may repeat 'the fourth quarter of 2018' in the mid-term.\" It was pointed out that \"given the high transmissibility of virus mutation, coordinating epidemic prevention and control with economic and social development faces greater challenges than in 2020.\"</p><p></li><li>On June 2, the article \"Fighting a 'Guerrilla War' During the Strategic Stalemate in Hong Kong Stocks\" clearly stated that \"the bottom of the Hong Kong stock market in March can basically be confirmed as the market bottom based on various factors such as political and economic valuations, and the release of systemic risks over the past year has basically ended.\" The trend of recovery in the Chinese economy and the performance of listed companies in the medium term is expected, and we are optimistic about the opportunities for strategic investment in the medium term. It was also pointed out that \"Hong Kong stocks have been ravaged by a bear market for more than a year, and it will take time for confidence to be rebuilt. It is difficult for the market to achieve a breakthrough and overnight rally.\"</p><p></li><li>The July 12 article, \"In a Turbulent World, How to Invest in Hong Kong Stocks Trading at the Bottom,\" pointed out that \"under the recurring pandemic, it is difficult to boost market confidence in the short term.\"</p><p></li><li>The article \"Winning Amidst Chaos: Going Long on China's Advanced Manufacturing\" published on August 3 pointed out that \"the Hong Kong stock market will still be tugging at the bottom, but the systemic risk is not significant.\"</p><p></li></ul><b>2. Outlook: Opportunity amidst crisis, the Chinese economy faces pressure, overseas liquidity continues to tighten, and Hong Kong stocks will continue their tug-of-war at the bottom.</b></p><p><b>2.1 Although the economic recovery remains weak, Hong Kong stocks already contain many pessimistic expectations, and earnings expectations for Hong Kong stocks in the interim report season have improved after reaching a negative level.</b></p><p>The Hang Seng Index's consensus EPS growth forecast for 2023, which had been continuously lowered since the second quarter of 2021, stopped its downward trend in August 2022. Among them, the information technology industry has seen a slight rebound in the last four weeks after experiencing a significant reduction in profit forecasts.</p><p><img src=\"https://static.tigerbbs.com/4abcef7f945380bcf6ed756c9a5d8be0\" tg-width=\"1080\" tg-height=\"495\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>2.2 Progress has been made in Sino-US regulatory cooperation, reducing the risk of liquidity shocks to Hong Kong stocks, especially internet companies, caused by the delisting of Chinese concept stocks.</b></p><p>Since March, the risk premium of the Hang Seng Index has remained high, with both the risk premium measured by the 10-year US Treasury yield and the 10-year Chinese Treasury Bond yield being more than twice the standard deviation of the average since 2011. The risk of delisting of Chinese concept stocks is one of the important reasons affecting the risk appetite of Hong Kong stocks, especially since most internet companies are listed in both Hong Kong and the United States, and investors are worried that a large number of delistings from the US stock market will trigger a liquidity shock.</p><p>\"On August 26, 2022, the China Securities Regulatory Commission (CSRC) and the Ministry of Finance of the People's Republic of China signed an audit regulatory cooperation agreement with the U.S. Public Company Accounting Oversight Board (PCAOB), and will launch related cooperation soon.\" According to a relevant official from the CSRC in response to a reporter's question, \"If subsequent cooperation can meet their respective regulatory needs, it is expected to solve the audit regulatory issues of Chinese concept stocks, thereby avoiding passive delisting from the United States.\"</p><p><img src=\"https://static.tigerbbs.com/d0fda8837eeb214c2177d52e76902924\" tg-width=\"1066\" tg-height=\"489\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>2.3. Focus on high-growth sub-sectors and the turnaround opportunities in some industries.</b></p><p><b>Economic data from July and August showed that the economic recovery was weak, and policies will continue to focus on stabilizing the economy.</b>On August 24, the State Council executive meeting proposed to increase the quota by more than 300 billion yuan on top of the 300 billion yuan of policy-based development finance instruments already allocated to projects.</p><p><b>With policy support, the prosperity of advanced manufacturing continues to remain high.</b>July industrial enterprise profits showed that, in addition to upstream industries, electrical equipment maintained high growth, while automobiles saw significant improvement. Looking at the year-on-year growth rate of cumulative profits from January to July, the growth rate for electrical equipment was 18%; Automobiles were -14%, a significant improvement from the previous value of -25% in the January-June period.</p><p><img src=\"https://static.tigerbbs.com/ffc2a262d06343072f542412d614caf0\" tg-width=\"1051\" tg-height=\"521\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>Pessimistic expectations for the real estate market have eased somewhat, and Chinese real estate dollar bonds have rebounded significantly.</b>On August 19, the National Association of Financial Market Institutional Investors (NAFMII) convened another symposium with several private real estate companies to discuss supporting them in issuing bonds for financing by enhancing their credit support through ChinaBond.</p><p><img src=\"https://static.tigerbbs.com/dc39ce31facf981686ad65e0f1417c9b\" tg-width=\"1080\" tg-height=\"555\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>2.4 The Fed adopted a hawkish stance; the 0826 Jackson Hole summit repeated the \"Volcker moment,\" and the resolution of overseas liquidity risks is still some time away.</b></p><p><b>The Jackson Hole summit on August 26 recreated the \"Volcker moment,\" confirming our previous judgment: \"Inflation for recession is actually a policy dilemma.\"</b>At the meeting, Powell emphasized that the cost of price instability would be higher than the cost of slowing growth and a weak labor market caused by high interest rates. In particular, the summary of the historical experience of the 1970s has brought about a resurgence of the \"Volcker moment\".</p><p>It will take time for the Fed to make a shift. 1) Although inflation data fell in July, inflation remained at a high level. A strong labor market, rising labor costs, rising food prices, uncertainty about energy prices, persistently high rents, and geopolitical risks between Russia and Ukraine continue to support U.S. inflation levels. 2) With the November midterm elections approaching, fighting inflation remains a political focus for the White House.</p><p><img src=\"https://static.tigerbbs.com/94d860c5515574a2809997e8b27e9993\" tg-width=\"1073\" tg-height=\"531\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>3. Investment Strategy: Defense and Counterattack</b></p><p><b>Main theme 1: Selecting stocks with high cost-performance ratios in high-growth sectors.</b>The energy technology industry chain, represented by new energy and new energy vehicles, has benefited from improved demand, supply chain recovery, and month-on-month cost reductions.</p><p><ul><li><b>Electricity operator</b>Amid deep concerns about yields and electricity prices, the valuation of the green electricity sector has experienced a significant correction, and recent events have also shown a \"correction\" to the vicious competition in the industry. After the sector experienced severe suppression, three ministries recently established a renewable energy settlement company, with the power grid taking the lead in financing to address the subsidy gap. As one of the key catalysts for the green electricity industry in the second half of the year, the resolution of the subsidy issue is expected to increase the industry's reinvestment capacity. Admittedly, the yield issue is difficult to resolve in the short term, but the current stock price of the sector has a sufficient safety margin, and we are optimistic about the growth potential brought about by the increase in installed capacity.</p><p></li><li><b>Wind power</b>Wind power companies have successively released their semi-annual reports, showing that the pandemic and high raw material prices in the first half of the year led to tight production capacity and pressure on profitability. Current valuations have fallen to historical lows. With construction starting in the second half of the year and raw material prices expected to improve, profitability is expected to recover. We recommend companies with good cost control and transmission capabilities.</p><p></li><li><b>New energy vehicle industry chain</b>Recent sales figures from key automakers have exceeded expectations, and several new energy vehicle models are expected to be launched this year. Investment focus: Benefiting from this round of stimulus policies, new energy and traditional automakers are expected to achieve rapid growth in sales volume and profitability in the second half of the year, as well as opportunities in related components driven by the trend of electrification and intelligentization.</p><p></li></ul><b>Main theme two: Improving the predicament.</b>We await the improvement of China's economic expectations and the improvement of the industrial regulatory environment to drive the quantitative to qualitative change in the performance of related listed companies. We have carefully selected alpha companies in the internet, property management, food and beverage, and pharmaceutical sectors.</p><p><ul><li><b>Internet</b>With concerns about delisting of Chinese concept stocks easing and the regulatory environment becoming more certain, the volatility of industry stock prices is expected to decrease. The internet sector has shifted from a new economy to a mature business model, focusing on short-term performance. Currently, the stock price of the internet sector implies a relatively pessimistic expectation for short-term recovery. If the pressure of epidemic prevention and control eases and the economic recovery improves marginally, the stock price will also have elasticity. In the medium term, the secondary growth curve is expected to present opportunities for differentiation, such as with cloud computing and autonomous driving.</p><p></li><li><b>Property Management</b>From the perspective of corporate governance and business operations, property management companies and real estate companies are still highly correlated. The property management sector is currently unable to achieve independent growth, and the stabilization of the real estate sector is an important prerequisite for the recovery of the property management sector. Once the real estate sector stabilizes, property management companies will have better business growth potential, a more secure financial position, and greater valuation flexibility. We are optimistic about property management companies with high operational independence, strong organic growth capabilities, and excellent profitability.</p><p></li><li><b>Food & Beverage</b>The overall food and beverage sector, represented by beer and dairy, benefits from the continued trend of consumption recovery and the marginal easing of cost pressures such as grain prices. In addition, regarding beer, the hot summer weather this year drove rapid growth in beer consumption in Q3, which is expected to be reflected in subsequent financial reports.</p><p></li><li><b>Medicine</b>Continue to be optimistic about \"pharmaceuticals + upstream + consumer healthcare\". (Industrial Securities Pharmaceutical Team)</p><p>Reasons for optimism about the pharmaceutical sector include: the impact of centralized procurement of generic drugs has gradually bottomed out, new blockbuster products (ADCs, oligonucleotides, autoimmune drugs, etc.) are expected to emerge on the supply side of innovative drugs, innovative drugs are gradually beginning to be commercialized and the value of domestic platforms is emerging (such as the recent cooperation between Sanofi and Innovent Biologics), and the global competitiveness of domestic companies is gradually improving. Upstream: The performance of many companies in this sector is expected to accelerate in the second half of the year, and the logic of self-reliance and control is expected to drive up valuations. In the consumer healthcare sector, the current prosperity remains strong, and the long-term outlook is positive. In the short term, factors such as centralized procurement of dental implants have disrupted sector sentiment, and the sector is in a period of adjustment, with adjustments aimed at accumulating upward momentum.</p><p></li></ul><b>The third main theme is to find the allocation value of \"bond-like assets\" in traditional industries.</b>Based on long-term allocation, state-owned and central enterprise real estate stocks that can obtain low-cost funds and high-quality land reserves, undervalued and high-dividend state-owned and central enterprise energy stocks, and the revaluation of leading companies in the financial, transportation, and building materials sectors after economic expectations improve.</p><p><ul><li><b>State-owned enterprise real estate stocks</b>The industry is currently in a vacuum period from continuous policy relaxation to the recovery of new home sales. However, looking ahead to the market in the second half of the year and next year, there are two possible scenarios: 1) New home sales are recovering, and the effect of policy relaxation will continue. 2) The recovery of new home sales has fallen short of expectations, and further easing policies will continue to be introduced until the market recovers. In both scenarios, the systemic risks in the real estate market will be eliminated, risky real estate companies will continue to be cleared out, private real estate companies will have neither the willingness nor the ability to increase leverage, while state-owned real estate companies that can obtain low-cost funding and high-quality land reserves will benefit from the recovering market.</p><p></li><li><b>State-owned energy stocks</b>Shift from speculating on cyclical fluctuations to allocating to leading high-dividend, value stocks. 1) The profit stability of traditional energy leaders has increased relatively. Against the backdrop of a shift in the energy structure, new supply of traditional energy sources is becoming more restrained. The risk of geopolitical conflict has increased, making the already tightly balanced supply and demand relationship more fragile, and the center of energy price fluctuations will be higher than in the past 30 years. 2) Corporate capital expenditures have decreased, the proportion available for dividends has increased significantly, the valuation system has shifted from cyclical stocks to value stocks, and the allocation attributes of bond-like stocks have become more prominent.</p><p></li><li><b>Finance</b>With weak economic expectations, rising risks in real estate companies, and pressure on social financing trends, the valuation of the financial sector has experienced a significant correction, and the Dividend rate of the Hong Kong-listed financial sector has returned to a highly attractive position. As economic expectations improve, pessimistic expectations in the industry are expected to ease.</p><p></li><li><b>transportation</b>With changes in entry and exit policies and the relaxation of the circuit breaker policy for inter-provincial travel, leading transportation companies with high dividends are ushering in an opportunity to improve their performance. The General Administration of Customs will launch the ninth version of the \"People's Republic of China Exit/Entry Health Declaration Card\" at 00:00 on August 31. The most significant change in the ninth edition is the elimination of the requirements for declaring nucleic acid test information, previous infection status, and vaccination dates for inbound and outbound personnel. Miao Muyang, Director of the Department of Industrial Development of the Ministry of Culture and Tourism, said at a press conference on August 24: \"Based on the epidemic prevention and control situation, we have dynamically adjusted the opening policies of cultural and tourism venues and further specified the 'circuit breaker' area for inter-provincial group tourism to the county level.\"</p><p></li><li><b>Building materials</b>The post-real estate cycle has bottomed out, and the fundamentals have bottomed out; excessive pessimism is not advisable. The special-purpose bonds issued in the first half of the year are expected to generate physical infrastructure work in the second half of the year, making infrastructure investment more flexible in the second half. Focus on leading building materials companies whose stock prices are at their bottom and whose true value is a \"cash cow\".</p><p><b>4. Risk warning</b></p><p></li></ul>Global economic growth is slowing, monetary policies in China and the United States are falling short of expectations, and there are risks of great power competition.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c1cb237e736a4e03c939622e7b71e8e7","relate_stocks":{"HSI":"恒生指数","HSTECH":"恒生科技指数"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179759462","content_text":"一、回顾：港股行情在底部反复拉锯3月中旬做出港股市场底的判断，并预判2季度海外市场动荡。5-6月提示港股反弹行情难一蹴而就，相比2020年，海外环境、国内房地产和疫情反复使得经济复苏的难度更大。7月上旬指出疫情变数再起，港股行情将在底部反复拉锯。8月初继续强调港股底部拉锯的格局。二、展望：危中有机，中国经济面临压力、海外流动性继续紧缩，港股仍将继续在底部拉锯战——经济复苏虽然依然较弱，但港股已经包含了诸多悲观预期，中报季港股盈利预期迎来否极之后的改善。自2021年二季度以来持续下调的2023年恒生指数一致预期EPS同比增速，在2022年8月止住了下滑趋势。其中，资讯科技业在经历了盈利预测大幅下调后，最近4周已经出现了小幅回升。——中美监管合作取得进展，降低港股尤其是互联网公司受中概股退市影响引发流动性冲击的风险。——关注高景气的细分行业以及部分行业的转机。8月24日国务院常务会议提出在3000亿元政策性开发性金融工具已落到项目的基础上，再增加3000亿元以上额度。政策支持下的先进制造业景气继续维持高位。7月工业企业利润显示除了上游行业，电气设备维持了高增速，汽车迎来明显改善。房地产悲观预期有所缓解，中资地产美元债显著反弹。——联储放鹰，0826 Jackson Hole峰会重现“沃尔克时刻”，海外流动性风险解除尚待时日。1）虽然7月通胀数据回落，但通胀仍处于高平台。劳动力市场维持强劲、劳动力成本上升，食品价格上涨、能源价格的不确定性、租金持续高位、俄乌地缘风险等问题仍均支撑着美国的通胀水平。2）11月中期选举在即，抗通胀仍是白宫政治重心。三、投资策略：防守反击主线一、高景气方向精选性价比高的股票。以新能源、新能源车为代表的能源科技产业链，受益于需求改善、供应链恢复、成本环比下降。主线二、困境改善。等待中国经济预期改善和产业监管环境改善对相关上市公司业绩从量变到质变的推动，精选互联网、物业、食品饮料、医药中的阿尔法。主线三、在传统行业中寻找“类债券资产”的配置价值。立足长期配置能够获取低成本资金和优质土储的国企央企地产股、低估值高分红的国企央企能源股，以及等待经济预期改善之后金融、交运、建材龙头价值重估。风险提示：全球经济增速下行；中、美货币政策不达预期；大国博弈风险报告正文1、回顾：港股行情在底部反复拉锯3月中旬做出港股市场底的判断，并预判2季度海外市场动荡。5-6月提示港股反弹行情难一蹴而就，相比2020年，海外环境、国内房地产和疫情反复使得经济复苏的难度更大。7月上旬指出疫情变数再起，港股行情将在底部反复拉锯。8月初继续强调港股底部拉锯的格局。3月16日《“非理性下跌”及找寻“自信的力量”》建议投资者可以乐观一点，淡化“市场先生”的短期癫狂，多看投资的本质——企业长期价值。5月3日《乍暖还寒，战略相持阶段有望展开》判断市场整体基调转“暖”：“对中国基本面预期过度悲观的阶段5月份有望过去，信心逐步恢复”，“还寒”层面强调海外市场的调整压力：“美股中期可能重演‘2018年四季度’”。指出“基于病毒变异的高传播性，统筹疫情防控和经济社会发展面临比2020年更大的挑战”。6月2日《港股战略相持期打好“游击战”》明确“3月份港股市场的底部，基于政治经济估值多因素，基本可以确认为市场底，过去一年多的系统性风险释放基本结束”，中期中国经济、上市公司业绩复苏的趋势可以期待，看好中期战略性布局机会。同时指出：“港股经历过去一年多的熊市摧残，信心的重建尚需时日，行情很难势如破竹、一蹴而就”。7月12日《动荡的世界，底部拉锯的港股如何布局》）指出“疫情反复之下，短期市场信心难提振”。8月3日《乱中取胜，做多中国先进制造业》指出“港股市场仍将在底部区域拉锯，但是，系统性风险不大”。2、展望：危中有机，中国经济面临压力、海外流动性继续紧缩，港股仍将继续在底部拉锯战2.1、经济复苏虽然依然较弱，但港股已经包含了诸多悲观预期，中报季港股盈利预期迎来否极之后的改善自2021年二季度以来持续下调的2023年恒生指数一致预期EPS同比增速，在2022年8月止住了下滑趋势。其中，资讯科技业在经历了盈利预测大幅下调后，最近4周已经出现了小幅回升。2.2、中美监管合作取得进展，降低港股尤其是互联网公司受中概股退市影响引发流动性冲击的风险3月以来恒指的风险溢价一直居高不下，无论是以10年期美债收益率还是10年期中国国债收益率衡量的风险溢价都高于2011年以来均值以上两倍标准差。中概股退市风险是影响港股风险偏好的重要原因之一，尤其是互联网公司多为港美两地上市，投资者担忧从美股大量退市引发流动性冲击。“中国证券监督管理委员会、中华人民共和国财政部于2022年8月26日与美国公众公司会计监督委员会（PCAOB）签署审计监管合作协议，将于近期启动相关合作。”根据中国证监会有关负责人答记者问，“如果后续合作可以满足各自监管需求，则有望解决中概股审计监管问题，从而避免自美被动退市”。2.3、关注高景气的细分行业以及部分行业的转机7-8月经济数据显示经济复苏力度乏力，政策将继续发力稳固经济。8月24日国务院常务会议提出在3000亿元政策性开发性金融工具已落到项目的基础上，再增加3000亿元以上额度。政策支持下的先进制造业景气继续维持高位。7月工业企业利润显示除了上游行业，电气设备维持了高增速，汽车迎来明显改善。1-7月累计利润同比增速来看，电气设备为18%；汽车为-14%，较前值1-6月的-25%显著改善。房地产悲观预期有所缓解，中资地产美元债显著反弹。8月19日，交易商协会再次召集多家民营房企召开座谈会，探讨通过中债增进公司增信支持的方式支持民营房企发债融资。2.4、联储放鹰，0826 Jackson Hole峰会重现“沃尔克时刻”，海外流动性风险解除尚待时日0826 Jackson Hole峰会重现“沃尔克时刻”，验证了我们此前的判断：“通胀换衰退，实为政策窘境”。会上鲍威尔重点强调价格不稳定的代价，将比高利率带来增长放缓、劳动力市场疲软的代价更高；特别是对70年代历史经验的总结，“沃尔克时刻”重现。联储转向尚需时日。1）虽然7月通胀数据回落，但通胀仍处于高平台。劳动力市场维持强劲、劳动力成本上升，食品价格上涨、能源价格的不确定性、租金持续高位、俄乌地缘风险等问题仍均支撑着美国的通胀水平。2）11月中期选举在即，抗通胀仍是白宫政治重心。3、投资策略：防守反击主线一、高景气方向精选性价比高的股票。以新能源、新能源车为代表的能源科技产业链，受益于需求改善、供应链恢复、成本环比下降。电力运营商：在收益率和电价的深度担忧下，绿电板块估值经历了显著回调，近期也有事件显示出对行业恶性竞争的“纠偏”。在板块经历深度压制后，近期，三部委成立可再生能源结算公司，电网牵头融资解决补贴缺口。作为绿电行业下半年重要催化之一，补贴问的解决有望增加行业再投资能力。诚然，收益率问题短期难得到解决，但当前板块股价具备足够安全边际，看好装机带来量增的成长性。风电：风电企业陆续披露半年报，显示上半年疫情和原材料价格居高导致产能吃紧，盈利承压。当前估值回落至历史低点，下半年开工、原材料价格将双双迎来改善，盈利有望迎来修复，推荐成本控制及传导能力较好的企业。新能源车产业链: 重点车企近期销量数据超预期，年内多款新能源车型即将推出。投资方面把握：受益本轮刺激政策，下半年销量规模及盈利能力有望实现快速提升的新能源及传统车企，以及电动化及智能化趋势推动产品升级下，相关零部件的机会。主线二、困境改善。等待中国经济预期改善和产业监管环境改善对相关上市公司业绩从量变到质变的推动，精选互联网、物业、食品饮料、医药中的阿尔法。互联网：中概股退市担忧缓解、监管环境确定性提升下，行业股价波动性有望下降。互联网已从新经济转向成熟业态，短期注重业绩，当下互联网板块股价隐含的对短期复苏的预期相对悲观，若疫情防控压力缓解、经济复苏边际转好，股价也有弹性。中期基于二次增长曲线有望迎来分化的机会，比如与云计算、自动驾驶等。物业管理：从公司治理和业务经营层面，物管公司和地产公司仍关连度较高，物管板块目前尚不能走出独立行情，地产板块企稳是物管板块修复的重要前提。地产板块一旦稳住，物管公司有更好的业务成长性，更安全的财务状态，估值将会有更大的弹性。我们看好经营独立性高、内生增长能力强、盈利质量佳的物管公司。食品饮料：啤酒、乳业为代表的食品饮料整体板块受益于消费复苏的趋势延续，以及粮价等成本压力边际缓解。此外，啤酒方面，今年夏季的炎热天气带动Q3啤酒消费高速增长，有望在后续财报中兑现。医药：继续看好“药品+上游+消费医疗”。（兴业证券医药团队）药品板块看好理由包括：仿制药集采影响已逐渐见底、创新药供给端有望诞生新的爆品（ADC、寡核苷酸、自免等）、创新药逐步开始商业化且国内平台价值显现（例如近期赛诺菲和信达生物的合作）、国内公司全球竞争力逐步提升。上游：该赛道较多公司业绩下半年有望加速，且自主可控逻辑有望促使估值提升。消费医疗领域，当前景气度维持、长期逻辑看好。短期受种植牙集采等因素干扰板块情绪，处于阶段性调整期，调整积蓄向上动能。主线三、在传统行业中寻找“类债券资产”的配置价值。立足长期配置能够获取低成本资金和优质土储的国企央企地产股、低估值高分红的国企央企能源股，以及等待经济预期改善之后金融、交运、建材龙头价值重估。国企地产股：目前行业处于政策不断放松到新房销售复苏的真空期，但是展望下半年以及明年的市场可能的两种情况：1）新房销售复苏，政策放松的效应将持续；2）新房销售复苏不及预期，进一步的放松政策将持续推出，直到市场复苏。在两种情况下，房地产的系统性风险会解除，风险房企继续出清，民企地产公司既没有意愿也没有能力加杠杆，而能够获取低成本资金和优质土储的国企地产公司将受益复苏的市场。国企能源股：从博弈周期波动，转向配置高分红、价值股龙头。1）传统能源龙头的利润稳定性相对抬升。能源结构转变大背景下，传统能源的新增供给更加克制。地缘政治冲突风险提升，本就紧平衡的供需关系变得更加脆弱，能源价格波动中枢将较过去30年提升。2）企业资本开支降低，可用于分红的比例大幅提高，估值体系从周期股走向价值股，类债券的配置属性凸显。金融：经济预期偏弱+房企风险抬头+社融趋势承压下，金融板块估值经历显著回调，港股金融板块股息率重新回到较高吸引力的位置，后续随着经济预期改善，行业的悲观预期有望迎来缓解。交运：出入境政策变化，跨省游熔断政策松绑，高分红的交运龙头迎来业绩改善契机。海关总署将于8月31日零时启用第九版《中华人民共和国出／入境健康申明卡》。第九版最为明显的变化是，取消了对出入境人员核酸检测信息、既往感染情况、疫苗接种日期的申报要求。文化和旅游部产业发展司司长缪沐阳8月24日在发布会上表示：“根据疫情防控形势，我们动态调整文化和旅游场所的开放政策，并将跨省团队旅游“熔断”区域进一步精准到县域”。建材：地产后周期“下”有底，基本面筑底，不宜过度悲观；上半年大力发放的专项债有望在下半年形成基建实物工作量，下半年基建有弹性。关注股价处于底部、“现金牛”真价值的建材龙头。4、风险提示全球经济增速下行、中、美货币政策不达预期、大国博弈风险。","news_type":1,"symbols_score_info":{"HSTECH":0.9,"HSI":0.9}},"isVote":1,"tweetType":1,"viewCount":2013,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
