Market Insights: Dec 25th, 2023


Today's market insight relates to corporate developments, A-share market trends, online gaming, and the technology sector.

Company Updates and IPO Situation:

  1. Xiaohongshu ( RED ) Considers Hong Kong IPO: There are reports that Xiaohongshu plans to go public in Hong Kong in the second half of 2024. The company is set to conduct a fundraising round before the IPO, expected to be completed in the first half of the next year.
  2. Morgan Stanley's Performance in Japan: Morgan Stanley has achieved record revenues in Japan, indicating a strong position in the Japanese broker industry.

A-Share Market Trends:

  1. A-Share Index: Overall, A-share's three major indices are on an upward trend, but gaming stocks continue to adjust.
  2. Sector Gains and Losses: Digital currency, MR concepts, defense, and multimodal AI sectors are leading in gains, while PEEK materials, shipping, logistics, and other sectors have experienced significant declines.

Online Game Management and License Issuance:

  1. Draft of Online Game Management Measures: Experts interpret the draft, emphasizing that regulatory intentions are to promote the prosperity and healthy development of the industry rather than suppress it. The draft is not final and may be adapted based on feedback.
  2. Domestic Game Licenses: The National Press and Publication Administration has issued approvals for 105 new domestic game licenses, setting a record for the number of approvals in a single review, with a total of 1075 game licenses issued to date.

People's Bank of China and Market Operations:

People's Bank of China Market Operations: The People's Bank of China has injected a net amount of 287 billion RMB into the open market, including 381 billion RMB in 7-day reverse repurchase operations and 90 billion RMB in 14-day reverse repurchase operations.

Container Shipping and Related Industries:

  1. Shipping Index Futures: In the European line, the shipping index has dropped across the board, with several contracts hitting the limit down.
  2. Maersk Red Sea Route: Maersk is considering restarting transport services on the Red Sea route. Despite the imminent resumption, overall risks in the region persist.

Company Performance and Events:

  1. Xiaomi's Car Technology Launch Event: Xiaomi announces a car technology launch event scheduled for December 28th at 14:00.
  2. Xiaomi's Massive Investment in Cars: Lei Jun reveals that Xiaomi's first car involved 3,400 engineers and research and development investment exceeding 10 billion RMB.

Technology Industry and Memory Devices:

NOR Flash Memory: NOR Flash memory is expected to face a supply shortage, joining the trend of rising prices in memory devices.

Job Market Challenges and Social Programs:

High Talents Program: Implemented for about a year, with over 47,000 applications approved. Applicants report job difficulties in Hong Kong but express the desire to relocate for their children's education.

Domestic Economy and Financial Regulation:

China Banking and Insurance Regulatory Commission: Li Yunze states that the mainland Chinese economy demonstrates strong resilience.

U.S. Stock Market and Economic Data:

Year-End in the U.S. Stock Market: Approaching the year-end, this week's economic data will mainly revolve around the real estate market.



Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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