US stocks closed with all three major indices falling, with the S&P Nasdaq index seeing its largest weekly decline in three months. Technology stocks weakened, with Tesla down more than 4%, Nvidia down more than 2%, and CrowdStrike down more than 11%.
Investors accelerated their escape from technology stocks, with stocks and bonds in Europe and the United States being hit hard for two days. This week, the S&P 500 and Nasdaq fell by about 2% and 3.7%, respectively. The Nasdaq stopped its six-week continuous rise, while the Dow and small-cap indices rose by 0.7% and 1.7%, respectively. Chip stocks fell more than 3% on Friday and nearly 9% for the week. Nvidia also fell more than 8.7% for the past three months, making it the worst performer. The "seven sisters of technology" all fell for the week, and cybersecurity leader Crowdstrike, which triggered a global technology outage, fell 11% on Friday, the worst in nearly two years. The VIX panic index rose more than 32% for the week.
In June, a total of 30 games entered the Top 10 of the free games chart on the App Store, slightly fewer than the previous two months, according to Qimai Research Institute.
In June, a total of 30 games entered the free game top 10 chart in the App Store, with a slightly lower number of apps compared to the previous two months.
Hong Kong stock concept tracking: Global game revenue is expected to reach 300 billion US dollars in the next three years, and the prosperity of the domestic game industry chain continues to recover. (Attached are concept stocks).
Game permits are now being issued on a regular basis, and top manufacturers are continuing to exert their efforts.
China's Major Gaming Companies Likely to Have a Fruitful 2H
0633 GMT - China's major gaming companies likely to have a fruitful 2H, according to Daiwa analyst John Choi in a research note. The gaming pipeline for Tencent Holdings and NetEase in 2H looks solid,
Express News | Shares of Chinese Stocks Are Trading Lower Amid Reports Suggesting the Biden Administration Is Considering Chip Sale Restrictions on China, Which Could Drive US-China Tensions
NetEase's Cloud Music Forms Partnership With Timbaland's Beatclub
NetEase's (NTES) Cloud Music said Wednesday it has formed a partnership with Timbaland's Beatclub to introduce hundreds of exclusive beats to NetEase Cloud Music's Beatsoul platform.
Express News | PDD Holdings Down 3.3%, Baidu Down 6.3%
Express News | U.S.-Listed Shares of Chinese Firms Fall as Bets of Trump's White House Return Rise
Express News | Ishares China Large Cap ETF Down 1.9%, Kraneshares CSI China Internet ETF Down 3.1%
Express News | Li Auto Down 4.9%, JD.com Slips 4.4%, NIO Falls 6.4%, Xpeng Losses 5.8%
Hong Kong Shares Rise 1.0%, Tracking Wall Street Gains -- Market Talk
Hong Kong's benchmark Hang Seng Index rises 1.0% to 17653.69 in early trade, tracking Wall Street gains overnight.
Top Gap Ups and Downs on Wednesday: MA, INTU, HDB and More
Gaps can show signals that something important has happened to the fundamental or the psychology of traders that accompanies this market movement.
Overnight news: European and American stocks close higher, Tesla raises prices of some autos in certain European countries, non-performing asset investors target USA commercial real estate.
For more global financial news, please visit 24-hour real-time financial news market closing: Powell said no need to wait for inflation to fall to 2% to start cutting interest rates, S&P index broke through 5,600 points. On July 10, Tesla had an 11-day consecutive increase, and Morgan Stanley maintained a buy rating. Popular China concept stocks rose and fell on Wednesday. TSMC rose 3.5%, Xiaopeng rose 7.5%, and Netease fell 3.7%. US WTI crude oil closed higher on Wednesday, breaking $82 per barrel. European stocks closed generally higher, with the Euro Stoxx 50 index rising 1.1%. Macro-wise, Fed Chairman Powell told the Senate that it is possible to "start relaxing".
Sensor Tower: Tencent (00700) Dungeon and Warriors: Origin topped the global mobile game sales list in June.
According to Sensor Tower Store Intelligence Platform, in June 2024, a total of 37 Chinese companies made it to the TOP100 global mobile game publishers revenue list, with a total revenue of 1.92 billion USD, accounting for 37% of the revenue of TOP100 global mobile game publishers in this quarter.
US stocks hit new highs, with Nvidia up 4.4% leading the technology stocks, Tesla rising for ten consecutive days, and Apple having the highest market cap.
The Nasdaq and S&P 500 large caps hit a new intraday high again, while the Dow Jones weakened; the US stock market's "Seven Sisters" rose except Microsoft, with Nvidia leading the gains, up nearly 4.4%, while Tesla rose more than 2% for ten consecutive days; Apple rose more than 0.6% and still has the highest market cap; chip stocks generally gave back more than half of their gains after rising, Arm Holdings and KLA Corp hit new intraday highs again; Chinese concept stocks index rose.
Orient Securities: high-quality development with emphasis on shareholder returns and long-term value highlight of internet plus-related industry allocation.
According to a research report released by Orient Securities, the internet plus-related sector is a preferred sector for long-term capital entry, and the long-term development logic of the industry coincides with the specific requirements of the new national guideline on "high-quality development" and "improving investment value".
Why Do Chinese Stocks Keep Faltering?
BofA Securities China Equity Strategist Winnie Wu says that's due to a combination of factors, including pressures on China's economy and company earnings, as well as a tense geopolitical environment. She says investors should trim SOE holdings and add quality beta stocks.
Hong Kong stock concept tracking: in June, the number of game version approvals increased month-on-month. Institutions see the sector's undervalued potential (including concept stocks).
The number of game licenses has once again increased, and products from Tencent, 37 Interactive Entertainment Network Technology Group, G-bits Network Technology, and iDreamSky have been approved.
US stocks hit new highs, with Apple's market cap surpassing Microsoft's, Tesla rising for the ninth consecutive day, silver futures falling by 3% at one point, and French stocks opening high and falling low.
Waiting for this week's US CPI and PPI inflation and Powell's congressional hearing. The New York Fed survey found that Americans' inflation expectations have fallen for two consecutive months, and the market is still betting on two interest rate cuts later this year. The S&P and Nasdaq have hit new highs for at least four days in a row, and Apple's market cap has surpassed Microsoft to become the largest company. Nvidia's increase has been cut in half after a nearly 4% increase, and TSMC briefly rose more than 4.8% in market cap, breaking the $1 trillion barrier. AI concept stocks such as Arm and Oracle also hit new highs and Intel and Super Micro Computer rose more than 6%. The Chinese concept stock index fell 1%, Xpeng Motors fell more than 6%, and Niu Technologies rose 16%. The second round of the French parliament elections unexpectedly ended without any political party obtaining an absolute majority, and European stocks rose but fell in the final session. The euro and French bond yields also opened high
Express News | PDD Holdings Down 1.8%, NetEase Down 1.3%, Baidu Down 0.9%