Follow up comments
On Wednesday, the three major stock indexes in the United States fell sharply. The Dow Jones Industrial Average closed at 3149007, down 3.57%; The S & P 500 index closed at 392368, down 4.04%; The Nasdaq composite index closed at 1141815, down 4.73%. In terms of industry, the performance of the technology sector was weak, large technology stocks fell sharply, and Amazon fell 7.16%; The aviation sector fell collectively, and American Airlines fell 5.22%; Popular Chinese concept stocks rose and fell, Suntech institutions rose 25.63%, and China suxuantang pharmaceutical fell 26.33%. On the news front, the United Nations released the report on the world economic situation and outlook in 2022. The report predicts that the global economic growth in 2022 will be about 3.1%, far lower than the 4% expected in January 2022. At the same time, the report predicts that the global inflation rate will reach 6.7% in 2022. At present, US inflation has remained at an all-time high, increasing the pressure on the Federal Reserve to raise interest rates. In the context of further tightening of global liquidity, the market is still digesting the impact of the tightening of monetary policy by the Federal Reserve. It is expected that the US stock market will remain volatile in the short term.
On Thursday, Hong Kong’s three major stock indexes fell collectively. Hang Seng Index closed at 2012068, down 2.54%; Hang Seng China enterprise index closed at 689919, down 2.68%; Hang Seng Hong Kong Chinese enterprises index closed at 3836.1, down 0.86%. In terms of industry, the technology sector fell sharply, Alibaba fell 7.39% and Tencent holdings fell 6.51%.
Policy highlights
\u3000\u30001. European Central Bank: Central Bank Management Committee Ryan said that the acceleration of wage rise is now the only key factor determining the direction of monetary policy. The ECB’s first rate hike in more than a decade is likely to take place this summer. (Jin x data)
\u3000\u30002. Central Bank of the Philippines: the governor of the central bank said that the inflation risk is upward this year and basically balanced in 2023. (Jin x data)
Company dynamics
\u3000\u30001. Douyu. O: the revenue in the first quarter was 283.3 million US dollars, a year-on-year decrease of 16.6%; Loss of US $0.03 per ads under non GAAP (non US GAAP). （iFinD）
\u3000\u30002. Hyundai Motor (005380. KS): Recently, the world’s first mass production hydrogen fuel cell heavy truck xcientfuelcell under Hyundai Motor appeared at the 2022 advanced clean transportation Expo. According to the plan, Hyundai will deploy 30 hydrogen fuel cell 8-level heavy truck xcientfuelcell in the form of 6×4 drive in California in 2023. It is understood that this is the largest hydrogen fuel cell level 8 heavy truck deployment project in the United States so far. （iFinD）
Risk tips
Economic growth was less than expected
The spread of trade protectionism
Fed policy exceeded expectations
