The three major U.S. stock indices all closed higher.

On Wednesday local time, the three major U.S. stock indices closed higher, with the Dow Jones Industrial Average up by 0.31%, the S&P 500 up by 1.07%, and the Nasdaq Composite up by 2.17%.

Technology stocks rose across the board, with Apple increasing by 1.12%, Amazon by 2.73%, Netflix by 1.17%, Google by 1.78%, Facebook by 1.39%, and Microsoft by 2.2%.

Bank stocks showed mixed results, with JPMorgan Chase up by 0.78%, Goldman Sachs by 0.83%, Citigroup down by 1.16%, Morgan Stanley by 0.36%, Bank of America down by 0.71%, and Wells Fargo down by 0.44%.

Energy stocks declined across the board, with ExxonMobil down by 1%, Chevron by 0.28%, ConocoPhillips by 1.38%, Schlumberger by 0.06%, and Occidental Petroleum by 1.44%.

Airline stocks experienced mixed fortunes, with Boeing up by 0.73%, American Airlines down by 1.91%, Delta Air Lines up by 2.01%, Southwest Airlines down by 1.54%, and United Airlines up by 0.1%.

Semiconductor stocks performed strongly, with NVIDIA up by 8.03%, marking its largest single-day gain since August, Broadcom by 6.75%, ASML by 6.49%, Advanced Micro Devices (AMD) by 4.9%, Micron Technology by 4.38%, Intel by 3.56%, and Qualcomm by 3.02%.

Advertisement

Popular Chinese concept stocks generally rose, with the NASDAQ Golden Dragon China Index up by 1.02%, Central Energy Resources up by 392.68%, Shu Di Biotech by 15.11%, Canadian Solar by 11.8%, BeiGene by 6.8%, Zai Lab by 6.26%, Daqo New Energy by 5.68%, EHang by 4.99%, SMIC by 4.85%, Jinko Energy by 4.6%, and Zeekr by 3.9%; on the downside, Bit Digital fell by 3.9%, and 21Vianet by 2.63%. Chinese concept electric vehicle stocks showed mixed performance, with NIO up by 2.28%, XPeng by 4.46%, and Li Auto down by 0.1%.

The State Council recently issued "Several Opinions on Strengthening Regulation, Preventing Risks, and Promoting High-Quality Development of the Insurance Industry." It proposes to leverage the long-term investment advantages of insurance funds, cultivate genuine patient capital, and promote a virtuous cycle of funds, capital, and assets. It calls for increased investment in strategic emerging industries, advanced manufacturing, and new types of infrastructure to serve the development of new quality productive forces. It also guides insurance funds to support technological innovation, venture capital, rural revitalization, and the development of green low-carbon industries.

According to a message from the Ministry of Industry and Information Technology, the MIIT issued a "Notice on Promoting the Development of Mobile Internet of Things 'All Things Smart Connection'." The "Notice," based on the development pace of the mobile IoT industry and the current state of mobile IoT applications in various fields, clarifies the development goals for mobile IoT. By 2027, a comprehensive ecosystem for mobile IoT that is based on a combination of high and low speeds of 4G (including LTE-Cat1, i.e., 4G networks with category 1 data rates) and 5G (including NB-IoT, Narrowband IoT; RedCap, lightweight), universally intelligent, and secure, will be further improved.

On September 11th, in response to a question from a reporter about Canada's announcement to impose additional tariffs on certain products including Chinese batteries and to seek public opinion, the spokesperson for the Ministry of Commerce stated that China urges the Canadian side to respect the facts, comply with WTO rules, and not to repeat mistakes. China will closely monitor the subsequent actions of the Canadian side and take all necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.►► According to CCTV News, on the 11th, reporters learned from the China Securities Regulatory Commission (CSRC) that with the support of multiple policies, the mergers and acquisitions (M&A) and reorganizations in China's capital market are entering an "active period". Data shows that since May 2024, A-share listed companies have disclosed a total of 46 significant asset reorganization projects, with 7 equity issuance reorganizations submitted to the CSRC for registration. The person in charge of the relevant department of the CSRC stated that, overall, the market-oriented reform of M&A and reorganizations has achieved positive results, with significant M&A cases emerging one after another, showing a more active M&A in "hard technology" enterprises, which helps technological innovation and resource integration.

►► The Shenzhen Municipal Financial Bureau is soliciting public opinions on the "Shenzhen Implementation Opinions on Supporting the High-quality Development of Digital Finance (Draft for Comments)". It mentions the work goal of promoting the in-depth transformation of financial institutions, continuously increasing the intensity of their digital transformation, fully utilizing the results of digital transformation to improve the convenience and competitiveness of financial services, and enhancing the quality of service to the real economy. The aim is to gather leading enterprises in the sub-fields of financial technology, further improve the ecological environment of the financial technology industry, and maintain a positive momentum in the development of digital finance. The plan includes continuously deepening the pilot of digital currency, orderly carrying out pilot projects for financial technology innovation supervision and capital market financial technology innovation, and achieving significant results that drive industrial development. The goal is to form more than 5 parks and characteristic buildings focusing on digital finance development throughout the city by 2025.

►► On September 11th local time, data released by the U.S. Bureau of Labor Statistics showed that the U.S. Consumer Price Index (CPI) increased by 0.2% month-on-month in August, and grew by 2.5% year-on-year before seasonal adjustment.

►► On September 11th local time, NVIDIA founder and CEO Jen-Hsun Huang defended NVIDIA's high server prices at the Goldman Sachs investment conference. He anticipated that artificial intelligence would have a high return on investment, which could bring cost reduction and productivity enhancement to enterprises.

4 consecutive trading day limit up for Hainan Haiyao: The main business of the participating company is cell preparation and storage

Hainan Haiyao issued an announcement on abnormal stock trading and risk warning. Currently, the company's participating company, Unicore, is mainly engaged in the research and development of human body cell preparation, storage, application technology, and drug development. The current main business is cell preparation and storage. Due to Unicore's continuous research and development investment and market development phase, it has not yet been profitable.

2 consecutive trading day limit up for Aotexun: No significant changes in internal and external operating environment

Aotexun issued an announcement of unusual stock movement, stating that there is no need to correct or supplement the previously disclosed information; no significant undisclosed information has been reported in the public media recently that may or has had a significant impact on the company's stock trading price; the current operating situation is normal, and there have been no significant changes in the internal and external operating environment; the controlling shareholder and the actual controller do not have any significant matters that should be disclosed but have not been disclosed.

2 consecutive trading day limit up for Dexin Technology: No significant changes in the company's operating situation and internal and external operating environment recently

Dexin Technology disclosed an announcement of abnormal stock trading, stating that after self-inspection, the company's current production and operation are normal, and there have been no significant changes in the company's operating situation and internal and external operating environment recently. It is expected that there will be no significant changes in the operating environment in the short term. In the first half of 2024, the competition in the new energy market where the company is located remains fierce. Affected by the industry cycle and downstream price wars, the sales of the company's molds and cutting tools still have a certain decline. Coupled with the impact of overcapacity and intensified competition in the industry, the company's business scale, order prices, and order volume have all declined to some extent, which has to some extent squeezed the profit space and led to a decline in the company's profitability. Investors are advised to pay attention to the risk of performance fluctuations.Dingxin Communication: Warning Period and Final Disposal Results are Uncertain

Dingxin Communication issued an announcement on unusual movement, stating that the company and its subsidiaries, Qingdao Dingxin Communication Power Engineering Co., Ltd. and Qingdao Dingxin Communication Technology Co., Ltd., received a blacklist warning from China Southern Power Grid Co., Ltd. on July 29, 2024. The warning period and the final disposal results are uncertain at this time. Investors are advised to be aware of the investment risks.

Wangda Software: The Company's Current Operations are Normal

Wangda Software issued an announcement on unusual movement, stating that after self-inspection, the company's current operations are normal. There have been no significant adjustments in the market environment or industry policies, no substantial fluctuations in production costs and sales, and the internal production and operation order is normal. There are no significant matters affecting the abnormal fluctuation of stock trading prices, and there is no significant information that should be disclosed but has not been disclosed.

Rock Shares: The Actual Controller of the Company is Subject to Criminal Compulsory Measures

Rock Shares announced that according to the police report, after verification, the actual controller of the company, Han Xiao, has been taken criminal compulsory measures due to the suspected illegal fundraising crime of Haiyin Wealth Management Co., Ltd. Han Xiao is temporarily unable to perform the duties of the company's chairman, general manager, and secretary of the board. Therefore, the vice chairman of the company, Chen Qi, will temporarily perform the duties of the chairman and secretary of the board. Since all the shares held by the actual controller have been judicially frozen, the company is actively communicating with relevant government departments to form a new governance structure. During the transition period, the company will form a management committee to perform the duties of the general manager and jointly decide on the company's business development.

Zhongyuan Securities: In August, the lithium battery sector performed weaker than the CSI 300 Index, mainly due to the decline in performance of the sector's sub-segments and related targets, as well as the short-term price pressure in the sub-segments. In conjunction with domestic and international industry dynamics, price trends of sub-segments, monthly sales, and industry development trends, the overall industry prosperity continues to move upward. In the short term, focus will continue on the price trends of upstream raw materials, monthly sales, and the implementation of industry regulations.

Dongguan Securities: The continuous promotion of the "trade-in" policy, coupled with the new car models displayed at the Chengdu Auto Show, is expected to continue to stimulate the consumption potential of the car market and maintain the growth trend of production and sales in August. The automotive industry's push for overseas capacity is expected to alleviate the pressure of changes in overseas tariff policies, and the international competitiveness of independent brands is gradually increasing, with exports expected to maintain steady growth.

Tianfeng Securities: The third quarter has entered a period of dense new product launches in the consumer electronics sector. The market feedback for Huawei's smartphones is expected to exceed expectations, bringing an order effect to the entire industry chain, and investment opportunities in the industry chain are optimistic.