Follow up comments
On Monday, most European and American stock markets fell, and the three major stock indexes of the United States collectively fell. The Dow Jones Industrial Average closed at 3430808, down 1.19%; The S & P 500 index closed at 441253, down 1.67%; The Nasdaq composite index closed at 1341196, down 2.18%. International oil prices fell, and the US oil contract closed at US $95.18/barrel in May, the lowest in nearly a month, down 3.13%; The June oil distribution contract closed at US $99.35/barrel, down 3.34%. Us energy stocks fell sharply, while western oil fell 6.29%; The performance of the technology sector was weak, large technology stocks fell collectively, and Microsoft fell 3.94%; Most of the popular Chinese stocks fell, down 12.89%. On Monday, the yield of US bonds rose sharply, and the yield of 10-year US bonds closed at 2.785%, the highest since January 2019. Recently, stimulated by the Federal Reserve's interest rate hike and table contraction, medium and long-term US bond yields continued to rise. Coupled with the change of market risk appetite, the US stock market will continue to fluctuate in the short term, and the overvalued and high growth sectors will continue to be under pressure.
In Hong Kong, the three major stock indexes in Hong Kong fluctuated on Tuesday. Hang Seng Index closed at 2131913, up 0.52%; Hang Seng China enterprise index closed at 726443, up 0.78%; Hang Seng Hong Kong Chinese enterprises index closed at 398636 points, down 0.27%. In terms of industry, the consumer sector performed strongly today, with Haidilao rising 9.87%; The technology sector led the gains, with the Hang Seng technology index rising 1.4% to close at 424959. In terms of individual stocks, BiliBili rose 12.79%.
Policy highlights
\u3000\u30001. Central Bank of Russia: according to the annual report of the central bank, at the beginning of 2022, the share of gold in Russia's international reserves was 21.5%, that of RMB was 17.1%, and that of other currencies was 61.4%. （ Wind）
\u3000\u30002. Bank of Japan: according to central bank officials, Japan's wholesale prices rose by 7.3% in fiscal 2021, the fastest growth rate since comparable data were available in fiscal 1981. （ Wind）
Company dynamics
\u3000\u30001. NiO. N: affected by the rise in global raw material prices, the prices of its products will be adjusted appropriately from May 10, 2022. The starting prices of es8, ES6 and ec6 models will be increased by 10000 yuan, while the starting prices of et7 and et5 will remain unchanged; Select battery rental service, and adjust the rental service fee of long-life battery pack (100kwh) to 1680 yuan / month; The battery pack is flexibly upgraded to a long-life battery pack by year, and the price is adjusted to 9800 yuan / year. （ Wind）
\u3000\u30002. Qualcomm incorporated (qcom. O): announced that it has completed the acquisition of arriver from SSW partners ™ The transaction enhances Qualcomm technologies' ability to provide competitive, open, fully integrated advanced driving assistance system (ADAS) solutions to automakers and tier 1 suppliers on a large scale (wind)
Risk tips
Economic growth was less than expected
The spread of trade protectionism and the Fed's policy exceeded expectations
