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The Nasdaq fell to 0.02 million points, Adobe plummeted more than 13%, the China concept Index rose against the trend, and Bitcoin dropped below 0.1 million dollars.
In November, USA PPI inflation exceeded expectations, with the market betting on a pause in interest rate cuts in January next year. The Dow has fallen for six consecutive days, with NVIDIA experiencing the largest drop of 2.5%. Tesla, Meta, Google, and Amazon have moved away from their highs, uranium mining stocks have declined, but Apple reached a new high. Broadcom rose nearly 5% in after-hours trading, and Chinese stocks Baidu and PDD Holdings increased by over 1%. Bond yields in Europe and the USA have risen significantly, and after the European Central Bank cut interest rates, the euro fell to a one-week low, before rebounding. The dollar reached a two-week high, while the offshore yuan once rose over 200 points, breaking through 7.26 yuan. Commodities generally fell, with spot gold down over 2% and spot silver down over 4% during the session.
China to Lift Fiscal Spending to Boost Economy
China's Auto Sector Gets Boost From National Trade-in Policy in November
China's Auto Circulation Association: The used car market was significantly active in December, with an average daily Trade volume reaching 0.0666 million vehicles.
On December 12, the China Automobile Dealers Association released the weekly report on the used car market.
【Brokerage Focus】浦银国际指出 Shanxi Guoxin Energy Corporation's overseas expansion of Electric Vehicles manufacturers is accelerating, with LEAPMOTOR (09863) and Xiaopeng Motors (09868) as top picks.
Jinwu Financial News | According to a research report from Ping An International, the recognition of Electric Vehicles made in China continues to rise overseas. Although there have been recent negative impacts from European tariffs and demand disturbances, the momentum for the export of self-owned brand hybrid models to developing countries remains strong. With China's advantages in scale for Electric Vehicles and the demand for market expansion, more and more Electric Vehicle products made in China are entering international markets, and recognition overseas is consistently increasing. From January to November this year, the cumulative sales volume of China's Electric Passenger Vehicle exports has increased by 16% year-on-year. In terms of technical level and product competitiveness, especially in the exploration of intelligent driving-related technologies.
Hong Kong stocks fluctuate | Autos stocks' gains expanded in the afternoon, driven by Bullish policies, with Nomura stating that market demand will peak in December.
Automobile stocks expanded their gains in the afternoon. As of the time of writing, DONGFENG GROUP (00489) increased by 5.26% to 4.2 HKD; Great Wall Motor (02333) rose by 3.71% to 13.98 HKD; Li Auto-W (02015) went up by 2.88% to 91.15 HKD; BYD Company (01211) increased by 2.49% to 280.2 HKD.
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