Market Chatter: Hong Kong Considering Some EV-Friendly Changes in Traffic Laws

MT Newswires20:35 ET

Hong Kong stocks morning report on December 5: Most china concept stocks fell, Meitu cleared its crypto profits of about 0.571 billion yuan.

The latest Beige Book survey from the Federal Reserve shows a slight increase in economic activity in November. Federal Reserve Chairman Powell stated that the Fed can remain cautious when looking for the neutral interest rate. President Trump selected digital assets advocate Paul Atkins to be the chairman of the U.S. Securities and Exchange Commission, causing a surge in cryptocurrencies and related stocks. The three major U.S. stock indexes hit record highs on Wednesday, while most popular China concept stocks fell.

cls.cn18:15 ET

Guotou Securities: Maintains the "Buy-A" rating for Ideal Autos-W (02015) with a target price of HKD 142.58.

Guotou Securities expects Li Auto's net income for the years 2024, 2025, and 2026 to be 8, 15.4, and 26.4 billion yuan respectively.

Zhitong FinanceDec 4 04:12 ET

Tianfeng Securities: Ideal autos - W3-4Q fundamentals are gradually trending upwards with the expectation of recovery. The continuous improvement of store and infrastructure layout.

Tianfeng Securities released a research report stating that the bank believes that extreme emotions of concern about domestic consumption at the trade level have been digested in Q3. In fact, auto consumption saw a slight recovery in July driven by the policies of replacing old cars with new ones. The continuity of market demand thereafter is indeed difficult to determine, but the underlying fundamentals of Ideal Auto-W (02015) are expected to gradually improve in 3-4Q, and the bank predicts that the development of smart driving technology is expected to drive growth in vehicle value/gross margin.

Sina Hong Kong StocksDec 3 21:35 ET

Tianfeng: The fundamentals of Ideal Autos-W (02015) are expected to gradually trend upwards in Q3-Q4, with ongoing improvements in store and infrastructure layout.

The bank believes that the breakthroughs made by the company in smart driving will help drive further growth in orders.

Zhitong FinanceDec 3 20:56 ET

The Nasdaq index reached a new high, French stocks rose, the south korea etf narrowed after a 7% drop, and the offshore yuan briefly fell below 7.31 yuan.

South Korean President Yoon Suk-yeol abruptly declared a state of emergency, boosting safe-haven assets such as U.S. Treasury bonds, Japanese yen, and gold, while cryptos on the South Korean exchange plunged. The South Korean parliament quickly passed a resolution to lift the state of emergency, with the Ministry of Finance and the central bank actively working on market rescue measures. After a 2.7% drop to a two-year low, the won’s decline was cut in half, South Korean etfs fell by 1.6%, and the yield on 10-year U.S. Treasury bonds turned to increase after hitting a new low in over a month. France is set to vote on dissolving the government as early as Wednesday, with French stocks following European markets upward, although they had previously declined during the day. The Dow Jones, small cap stocks, and semiconductor indices fell, while the China concept index once rose by 1.9%. The yuan hit a new low in a year during the day, and U.S. oil rose nearly 3% testing the $70 mark.

wallstreetcnDec 3 18:09 ET