Focused on hot topics.

1. The State-owned Assets Supervision and Administration Commission recently issued "Several Opinions on Improving and Strengthening the Market Value Management of Central Enterprise Controlled Listed Companies," which requires central enterprises and controlled listed companies to pay close attention to the issue of capital erosion in controlled listed companies, incorporate the resolution of long-term capital erosion issues into annual key work, and guide long-term capital eroded listed companies in developing and disclosing valuation enhancement plans and supervising their implementation.

2. On Monday Eastern Time, TikTok made a final attempt to continue its operations in the USA: requesting the US Supreme Court to temporarily block the "no sale, no operations" regulation; otherwise, TikTok will cease operations in the USA starting January 19.

TikTok stated on its official website that ByteDance and TikTok have submitted an emergency request to the judge to suspend the ban on the TikTok application, while they have also appealed against the lower court's decision to maintain the ban. A group of TikTok users in the USA also made a similar request on Monday.

3. On Tuesday, Bitcoin rose to over $0.108 million, hitting a historic high for the second consecutive day, with traders now focusing on the price level of $0.11 million. Since the beginning of this year, Bitcoin has risen over 150%, and traders are increasing their bets on further increases in the options market.

4. According to a recent survey by consulting firm Teneo, CEOs of the world's largest companies have more confidence in the global economy than in recent years. Teneo CEO Paul Keary stated that Trump's victory has boosted optimism among executives in the USA and abroad.

Global Index

In terms of US stocks, at the close, the Dow Jones Industrial Average fell by 0.61% to 43,449.90 points; the S&P 500 Index fell by 0.39% to 6,050.61 points; the Nasdaq Index fell by 0.32% to 20,109.06 points.

Most large technology stocks fell, with Apple rising by 0.97%, Microsoft rising by 0.64%, NVIDIA falling by 1.22%, Google falling by 0.63%, Amazon falling by 0.76%, Meta falling by 0.77%, and Tesla rising by 3.64%.

China Concept Stocks generally rose, with the Nasdaq China Gold Dragon Index increasing by 1.97%, Alibaba rising by 1.27%, JD.com rising by 1.53%, PDD Holdings rising by 2.82%, NIO rising by 2.71%, Xpeng Motors rising by 3.63%, Li Auto rising by 2.75%, Bilibili rising by 4.58%, Baidu rising by 2.08%, NetEase rising by 0.31%, Tencent Music rising by 4.25%, and iQIYI rising by 2.39%.

In terms of Hong Kong stocks, at the close on Tuesday, the Hang Seng Index fell by 0.48% to 19,700.48 points; the Technology Index fell by 0.38% to 4,389.08 points; the Hang Seng China Enterprises Index fell by 0.58% to 7,105.44 points.

From the market performance, most stocks in the film and television, Gold, Gambling, and domestic property sectors led the decline, while some Autos and Dining stocks strengthened.

Company news

CHINAHONGQIAO (01378.HK): It is expected that the net income for the year ending December 31, 2024, will increase by approximately 95% compared to the same period in 2023.

China Coal Energy (01898.HK): During the first 11 months, the Commodity Coal sales reached 0.256 billion tons, a year-on-year decrease of 1.9%; in November, the sales volume was 25.8 million tons, a year-on-year increase of 11.4%.

Guolian (01456.HK): Issuing shares to purchase Assets and raise supporting funds has been approved by the restructuring committee of the Shanghai Stock Exchange.

R&F PROPERTIES (02777.HK): The hearing regarding the applications by R&F Hong Kong and Zhaoxi has been postponed to March 31, 2025.