To The Moon

* Nasdaq ends higher on strength in technology stocks; Hong Kong stocks rise on bargain hunting. 🇺🇸 S&P 500: 0.39% 📈 🇺🇸 Nasdaq: 1.26% 📈 🇪🇺 Stoxx 600 Index: -0.23% 📉 🇯🇵 Nikkei 225 Index: 0.95% 📈 🇭🇰 Hang Seng Index: 0.25% 📈 🇨🇳 CSI 300 Index: -0.54% 📉 * U.S. markets were upbeat on Tuesday, with the S&P 500 and Nasdaq Composite rising 0.4% and 1.3%, respectively, driven by strong performance by shares of Nvidia and other technology giants, while the broader chip industry outperformed, The Philadelphia Semiconductor Index rose 1.8%. * U.S. consumer confidence fell to 100.4 in June 2024 from 101.3 in May, in line with expectations as consumers faced rising costs of living, higher borrowing costs and a softening labor market. * Asia-Pacific stocks closed mixed, with the Hang Seng up 0.3% as markets regained stability as Chinese and European ministers held talks over China's electric vehicle import tariffs; the CSI 300 fell -0.5% due to a lack of stimulus measures measures, affecting buyer demand. 💡 Future events: 💡 * On Thursday, final U.S. GDP quarterly data and jobless claims were in focus for investors. * We end the week with the release of US core PCE price index monthly and revised University of Michigan consumer confidence index, Japan's unemployment rate and China's National Bureau of Statistics manufacturing PMI. 💡 Things you need to know today: 💡 1. Warren Buffett's Berkshire Hathaway has reduced its stake in Chinese electric car maker BYD $BYD COMPANY(01211)$ to 6.9%, Berkshire Berkshire initially invested in BYD in 2008, acquiring approximately 225 million shares for US$230 million. This investment has been very profitable. As of April 2022, BYD's stock price has risen by nearly 600%. BYD 2. Volkswagen Group will invest up to US$5 billion in US electric vehicle manufacturer Rivian $Rivian Automotive, Inc.(RIVN)$ as part of a joint venture to share electric vehicle architecture and software. The funds will help Rivian develop the R2 and R3 models, and support the company's goal of becoming cash flow positive while providing an opportunity for Volkswagen to enter the U.S. large SUV and pickup truck markets where it has been struggling. Volkswagen x Rivian 3. Novo Nordisk's $Novo-Nordisk A/S(NVO)$ weight loss drug Wegovy has been approved by China. The drug's target market is countries with large overweight and obese populations. However, Novo Nordisk faces challenges because the main ingredient of Wegovy is soma. Semaglutide's patent will expire in China within two years. Novo Nordisk 4. $TENCENT(00700)$ Tencent's new mobile game“Dungeon and Fighter”(DnF) mobile version has earned US$270 million in revenue from Apple's China platform since its launch on May 21, contributing to Tencent's mobile game revenue that month. 12%. Although the game was removed from China's Android app stores due to a revenue-sharing dispute, Tencent's own distribution channels are expected to maintain its strong performance. ✅ KEY TAKEAWAYS: In an environment where economic growth is likely to slow like the one we are currently observing, high-quality stocks that are less exposed to the economic cycle may benefit. @Daily_Discussion @TigerStars @MillionaireTiger @CaptainTiger @Tiger_comments @TigerGPT