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Reported Earlier, Zai Lab Gains FDA Orphan Drug Designation For ZL-1310 In Small Cell Lung Cancer
On Trump's "first day," Emerging Markets faced difficulties, setting several records.
The opening price of the MSCI Emerging Markets Index based on expected PE is 46% lower than the S&P 500 Index, marking the largest gap since Obama's first inauguration in 2009; the average yield of local currency bonds in Emerging Markets is also lower than the yield of USA Treasuries. Analysis indicates that due to USA policy actions, a strong dollar, and high USA interest rates, Emerging Markets stocks are underweighted by investors.
The US stock market fluctuated and then declined, Apple fell by 4%, Taiwan Semiconductor's ADR once rose over 7%, and Luxury Goods stocks along with European and American government bonds increased.
In December, USA's retail sales growth was weaker than expected, but the Philadelphia January manufacturing Index reached its highest level in nearly four years. Federal Reserve Board member Waller predicted that there might be up to four interest rate cuts this year, which lowered USA Treasury yields and the dollar. The S&P experienced its first decline in four days, previously boosted by Banks' Earnings Reports. Taiwan Semiconductor's quarterly report confirmed AI demand, leading to most chip stocks rising. Luxury Goods giant Richemont's earnings surpassed expectations, causing a collective increase among peers that pushed French stocks up over 2%. The China concept index rose against the trend, with DouYu increasing by about 28%. The yen approached 155, Bitcoin hovered around $0.1 million, oil prices fell from a six-month high, and Gold reached its highest in five weeks. As a cold wave hit, Henry Hub Natural Gas surged over 4%.
Zai Lab to Seek China Approval for Cervical Cancer Therapy After Positive Trial Data
Oil Is the Most Oversold Asset Globally – BofA
Highly resilient! Leading CRO companies have stabilized their fundamentals, but the shadow of the biosafety bill may still linger next year | Year-end review.
① In 2024, the USA Biodefense Act will disrupt CROs throughout the year and may continue next year; ② In the first three quarters of this year, over half of listed companies experienced revenue growth, and leading CROs demonstrated resilience; ③ Research on popular targets such as ADC, GLP-1, and bispecific antibodies will continue to be hot; ④ In 2025, the performance of leading CROs and small to medium enterprises may further diverge.