Most of the automotive sector has risen, with Li Auto Inc (02015) up 3.7%. The China Banking and Insurance Regulatory Commission said it encourages appropriately reducing the down payment ratio for auto loans.
Jingu Finance News | Most of the auto sector rose, with Evergr Vehicle (00708) up 6%, li auto inc (02015) up 3.7%, Guangzhou Automobile Group (02238) up 2.24%, Leapmotor (09863) up 2.23%, and BYD Company (01211) up 1.58%. On the news front, the China Banking and Insurance Regulatory Commission issued the Notice on Promoting Non-Bank Financial Institutions to Support Large-Scale Equipment Upgrade and the Replacement of Consumer Goods with Old Goods. It proposes to increase automobile financial services and support the trade-in of old vehicles for new ones. Encourage automobile financial companies and financial institutions engaged in automobile financial business to...
Hong Kong stocks are moving differently, with early gains in the automotive sector. The industry's outlook is expected to improve, with limited impact from the United States' increase in tariffs on electric cars from China.
Autos stocks mostly rose in the morning, as of the press time, li auto inc-W (02015) rose by 3.97%, closing at 77.2 Hong Kong dollars; guangzhou automobile group (02238) rose by 2.69%, closing at 2.29 Hong Kong dollars; Leap Motor (09863) rose by 2.45%, closing at 23 Hong Kong dollars.
Cui Dongshu: There is significant pressure on the collapse of the rbob gasoline vehicle industry, and we need to increase efforts to promote the use of autos in rural areas instead of suppressing it.
In 2024, China's auto market retail achieved the expected strong start, followed by a sharp divergence between electric vehicles and gasoline vehicles. From January to August 2024, the retail sales of electric vehicles reached 6.01 million units, showing a relatively strong trend with a 35% increase, close to the 36% growth rate in 2023.
Haitong sec: Promote the prosperity of the automobile industry by implementing AI-driven autonomous driving through the trade-in program.
In the first half of 2024, the large cap valuation is hovering around the median. In this context, the valuation of the auto sector as a whole is performing poorly, but there is still differentiation. After a median fluctuation in the dealers sector, there was a clear upward trend in Q2, while the other sectors all showed median fluctuations.
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The European Commission intends to reject the price commitment solution proposed by China's industry for the EU electric vehicle anti-subsidy case. The Ministry of Commerce responded.
The spokesperson of the Ministry of Commerce stated that the European Commission has ignored the sincerity and efforts of the Chinese business community, and has proposed to reject the flexible solution proposal put forward by the Chinese business community without conducting in-depth communication. China is deeply disappointed by this.
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Cui Dongshu: The sales structure trend of price segments in the national passenger vehicle market continues to rise, with a significant increase in the proportion of high-end vehicle sales.
According to the China Passenger Car Association data, the national passenger vehicle market price segment sales structure trend continues to rise, with a significant increase in the sales proportion of high-end models and a decrease in the sales proportion of low-priced models.
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Hong Kong stocks fluctuate | Auto stocks fall at the beginning of the market. Reports claim that the European Union has rejected all minimum import quotes from Chinese electric auto manufacturers.
Auto stocks fell at the beginning of trading, as of press time, xpeng-W(09868) fell by 3.76%, reaching HK$33.3; great wall motor(02333) fell by 1.82%, reaching HK$10.8.
Technology stocks led the S&P to four consecutive gains, Oracle reached a new high after hours, the US dollar and US bonds fell, gold hit a new high, and commodities rose.
In August, the PPI in the United States showed a cooling down of inflation, and the market slightly raised its bets on the Fed's aggressive interest rate cuts. US stocks rose together, with Nvidia up nearly 2%, while NIO Inc and XPeng fell more than 5%. The European Central Bank cut interest rates for the second time this year, but maintained a restrictive policy. European bonds fell, and the euro rebounded from its four-week low. Commodities rose across the board, with US oil briefly rising by 3.7%, gold reaching a new high with a nearly 2% increase, palladium rising by over 4%, and copper experiencing its largest two-month increase.
US stocks closed: Technology breaks through to lift the index, Nasdaq and S&P jointly achieve four consecutive gains.
① After four consecutive days of gains, the S&P 500 index is still 1.3% away from its historical high. ② Warren Buffett's deputy sold more than half of Berkshire Hathaway's positions, causing the stock price to fall for the seventh consecutive day. ③ AirPods Pro transforms into an OTC hearing aid, with FDA approval for Apple's hearing assistance software. ④ Gilead's HIV prevention drug delivers positive results once again.
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