Market Highlights π‘ - 25 September 2024
China's new stimulus measures boost global stock markets
πΊπΈ S&P 500: 0.25% π
πΊπΈ Nasdaq: 0.56% π
πͺπΊ Stoxx 600: 0.65% π
π―π΅ Nikkei 225: 0.57% π
ππ° Hang Seng Index: 4.14% π
π¨π³ CSI 300: 4.33% π
πΈπ¬ Straits Times Index: -0.43% π
The U.S. stock market continues its upward trend, despite a disappointing consumer confidence index. The S&P 500 and Nasdaq rose by 0.3% and 0.6%, respectively, buoyed by heavyweight stock Nvidia.
Amid growing concerns over the job market, the U.S. CB Consumer Confidence Index fell to 98.7, below the market expectation of 103.9, although more people plan to purchase homes in the next six months.
Germany's Ifo Business Climate Index dropped from last month's 86.6 to 85.4 in September, reaching its lowest level since January.
On Tuesday, the Asia-Pacific markets rallied, with the Hang Seng Index and CSI 300 rising by 4.1% and 4.3%, marking the best performance in months, following new economic stimulus measures from the People's Bank of China. $Alibaba(BABA)$
π‘ Upcoming Events: π‘
The U.S. will release GDP quarterly rate, unemployment claims, and durable goods orders on Thursday.
Investors will look forward to Friday's release of the U.S. Core PCE Price Index, personal income and spending, as well as the revised University of Michigan consumer confidence and inflation expectations.
π‘ Things to Know Today: π‘
1. The People's Bank of China announced a series of support measures, including a 50 basis point reduction in the reserve requirement ratio, a 20 basis point cut in the seven-day reverse repurchase rate to 1.5%, a 30 basis point reduction in the medium-term lending facility, and an average mortgage rate cut of 50 basis points.
People's Bank of China
2. The Reserve Bank of Australia (RBA) maintained the cash rate at 4.35% during its September meeting, marking the seventh consecutive meeting without changing borrowing costs, while still viewing inflation as too high.
RBA
3. Federal Reserve Governor Michelle Bowman was the only policymaker to dissent on last week's 50 basis point rate cut:βI lean towards a smaller initial rate cut given that the U.S. economy remains strong and inflation is still a concern. I cannot rule out the risk that inflation progress may continue to stall.β
Michelle Bowman
4. According to a new regulatory filing, Nvidia CEO Jensen Huang $NVIDIA Corp(NVDA)$
Jensen Huang
5. Visa's $Visa(V)$
Visa
β
Key Takeaway:
Encouragingly, Beijing appears to recognize the growing economic pressures and social tensions, leading to the announcement of a series of stimulus measures, but the government may need to take further actions to revitalize the economy at its roots.
@Daily_Discussion @TigerStars @Tiger_comments @TigerGPT @ASX_Stars
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Alibaba (BABA)
Business Overview: Alibaba is a Chinese multinational conglomerate specializing in e-commerce, retail, internet, and technology. It operates various platforms including Alibaba, Taobao, Tmall, and AliExpress, serving customers globally.
Earnings Forecast: For the fiscal year 2027, the forecasted earnings per share (EPS) is 79.28 CNY, with a forecasted gross income of 1177.98 billion CNY and a forecasted EBIT of 185.34 billion CNY. The EPS is expected to grow in the coming years.
Analyst Recommendation: There are 14 recommendations for this stock, with 26 analysts recommending a buy and 8 recommending to hold.
Analyst Target Price: The average target price estimated by 42 analysts is 107.89475 USD, with a low estimate of 79.7 USD and a high estimate of 146.0 USD.
Capital Flow Data (5 Day): On September 17, there was a net inflow of 10,354.34 thousand units (K). On September 18, there was a net outflow of 4,320.42 thousand units (K). On September 19, there was a net inflow of 58,455.6 thousand units (K). On September 20, there was a net outflow of 42,019.33 thousand units (K). On September 23, there was a net inflow of 65,212.07 thousand units (K).
Stock Price: The stock price as of September 25 is 97.19 USD.
Tencent (00700)
Business Overview: Tencent is a Chinese multinational conglomerate holding company specializing in various internet-related services and products. It operates platforms such as WeChat, QQ, and Tencent Video, providing social networking, gaming, and online media services.
Earnings Forecast: For the fiscal year 2025, the forecasted EPS is 24.88 CNY, with a forecasted gross income of 718.60 billion CNY and a forecasted EBIT of 255.62 billion CNY. The company's earnings are expected to grow in the coming years.
Analyst Recommendation: There are 23 recommendations for this stock, with 31 analysts recommending a buy, 1 recommending a hold, and 1 recommending a sell.
Analyst Target Price: The average target price estimated by 45 analysts is 469.31086 HKD, with a low estimate of 317.0 HKD and a high estimate of 540.0 HKD.
Capital Flow Data (5 Day): On September 17, there was a net inflow of 26,977.28 thousand units (K). On September 19, there was a net inflow of 406,414.96 thousand units (K). On September 20, there was a net inflow of 92,630.18 thousand units (K). On September 23, there was a net inflow of 112,655.1 thousand units (K). On September 24, there was a net inflow of 946,000.92 thousand units (K).
Stock Price: The stock price as of September 25 is 402.6 HKD.
NIO-SW (09866)
Business Overview: NIO is a Chinese electric vehicle manufacturer. It designs, manufactures, and sells smart and connected electric vehicles, as well as provides related services such as charging infrastructure and battery swapping.
Earnings Forecast: For the fiscal year 2025, the forecasted EPS is -6.19 CNY, with a forecasted gross income of 99.12 billion CNY and a forecasted EBIT of -13.54 billion CNY. The company is expected to improve its earnings in the future.
Analyst Recommendation: There are 6 recommendations for this stock, with 8 analysts recommending a buy, 6 recommending a hold, and no sell recommendations.
Analyst Target Price: The average target price estimated by 18 analysts is 50.12957 HKD, with a low estimate of 34.0 HKD and a high estimate of 72.0 HKD.
Capital Flow Data (5 Day): On September 17, there was a net inflow of 10,877.92 thousand units (K). On September 19, there was a net inflow of 10,103.42 thousand units (K). On September 20, there was a net inflow of 10,695.15 thousand units (K). On September 23, there was a net inflow of 33,927.13 thousand units (K). On September 24, there was a net inflow of 7,385.19 thousand units (K).
Stock Price: The stock price as of September 25 is 43.35 HKD.
NVIDIA Corp (NVDA)
Business Overview: NVIDIA is an American technology company that designs and manufactures graphics processing units (GPUs) for gaming, cryptocurrency, and professional markets. It also provides system-on-a-chip units (SoCs) for autonomous machines and artificial intelligence.
Earnings Forecast: For the fiscal year 2027, the forecasted EPS is 4.71 USD, with a forecasted gross income of 211.35 billion USD and a forecasted EBIT of 137.23 billion USD. The company's earnings are expected to grow in the coming years.
Analyst Recommendation: There are 21 recommendations for this stock, with 38 analysts recommending a buy and 5 recommending to hold.
Analyst Target Price: The average target price estimated by 50 analysts is 145.217 USD, with a low estimate of 56.01 USD and a high estimate of 200.0 USD.
Capital Flow Data (5 Day): On September 17, there was a net outflow of 235,000.57 thousand units (K). On September 18, there was a net outflow of 44,448.54 thousand units (K). On September 19, there was a net outflow of 70,346.61 thousand units (K). On September 20, there was a net inflow of 1,902,079.61 thousand units (K). On September 23, there was a net inflow of 208,655.21 thousand units (K).
Stock Price: The stock price as of September 25 is 120.87 USD.
Visa (V)
Business Overview: Visa is an American multinational financial services corporation that facilitates electronic funds transfers throughout the world. It provides payment solutions, including credit, debit, prepaid, and commercial products, to merchants, financial institutions, and individuals.
Earnings Forecast: For the fiscal year 2025, the forecasted EPS is 11.07 USD, with a forecasted gross income of 39.35 billion USD and a forecasted EBIT of 26.93 billion USD. The company's earnings are expected to grow in the coming years.
Analyst Recommendation: There are 11 recommendations for this stock, with 22 analysts recommending a buy and 8 recommending to hold.
Analyst Target Price: The average target price estimated by 35 analysts is 307.77886 USD, with a low estimate of 251.0 USD and a high estimate of 340.0 USD.
Capital Flow Data (5 Day): On September 17, there was a net inflow of 22,107.73 thousand units (K). On September 18, there was a net inflow of 14,603.94 thousand units (K). On September 19, there was a net outflow of 7,854.23 thousand units (K). On September 20, there was a net inflow of 343,594.41 thousand units (K). On September 23, there was a net inflow of 17,827.63 thousand units (K).
Stock Price: The stock price as of September 25 is 272.78 USD.
Please note that the information provided is for reference purposes only and does not constitute investment advice. Investors should conduct their own research and analysis before making any investment decisions. Investing in stocks involves risks, and stock prices can fluctuate due to various factors.