To The Moon

*Chinese markets welcome support measures for stock market reform

🇺🇸 S&P 500: Markets Closed

🇺🇸 Nasdaq: Market closed

🇪🇺 STOXX 600: -0.15% 📉

🇯🇵 Nikkei 225 Index: 0.23% 📈

🇭🇰 Hang Seng Index: 2.88% 📈

🇨🇳 CSI 300 Index: -0.32% 📉

* U.S. markets are closed for Juneteenth.

* Asia-Pacific stock markets were mixed, with Hong Kong's Hang Seng Index rebounding strongly to rise 2.9%, while the CSI 300 Index fell back -0.5%, as regulators revealed measures to reform the star sector, which has a large proportion of technology stocks, and promised to increase listing quality, thus boosting investor confidence, while the Hang Seng Index was mainly driven by energy and basic materials stocks. The Nikkei 225 extended gains, climbing 0.2% to end at 38.570 points.

* Japan's exports rose 13.5% year-on-year in May, the fastest pace since November 2022, beating expectations for a 12.7% year-on-year increase. As the yen fell sharply about 15% against the U.S. dollar from a year ago, exports of automobiles, chip manufacturing equipment and electronic components grew strongly, driven by huge foreign exchange profits. However, trade volumes fell slightly due to sluggish global demand and the trade deficit widened to 1.22 trillion yen.

💡 Future events: 💡

* U.S. jobless claims were watched by investors on Thursday.

* At the end of the week, we will see Japan's national core CPI year-on-year, preliminary U.S. manufacturing PMI and preliminary services PMI released.

💡Things you need to know today:💡

2. The China Securities Regulatory Commission (CSRC) announced new measures to reform the star market to revive investor confidence and foreign funds, while also planning to strengthen supervision of high-frequency trading and over-the-counter derivatives. However, the Star Market retreated slightly as investors worried about increased regulation and delisting pressure.

Star Market

3. As yields continue to fall, China's central bank hinted that it may soon begin trading in the secondary bond market, reflecting policymakers' concerns that sharp speculative swings could undermine financial stability. China's central bank has previously pledged to increase trading in government bonds and warned of plummeting long-term bond yields.

4. China's energy storage capacity using new technologies such as lithium-ion batteries tripled in the first quarter of 2024, as companies such as Tesla and CATL capitalized on China's carbon neutrality goals and strong Policy Support. China's National Energy Administration reported that the industry's total capacity exceeded 35 gigawatts as of March, up 12% from 2023 and 210% from the previous year.

5. Tencent Holdings $TENCENT(00700)$   has removed the mobile version of the new hit game "Dungeon Fighter" (DnF) from the Huawei, Oppo and Vivo app stores because contracts with these suppliers have expired. The DnF Mobile team advises new Android users to download the game from its official website as "our partnerships with some app stores are being adjusted."

Dungeon Fighter

✅ KEY TAKEAWAYS:

China's industrial output fell short of expectations in May due to the housing crisis, adding to pressure on Beijing to step up policy support to boost economic growth, while retail sales were better than expected due to holiday promotions.

@Daily_Discussion  @MillionaireTiger  @CaptainTiger  @Tiger_comments  @TigerStars  @TigerGPT