GMT EIGHT - OPPORTUNITIES IN CHINA

The Federal Reserve favors inflation indicators meeting expectations and consumer spending remains resilient. The Fed's short-term optimal solution may be to stay put.

Against the backdrop of increasing energy prices due to conflicts in the Middle East, inflation in the United States accelerated in April, while consumer spending saw a slight increase.

U.S. stock market opening: The three major stock indices are mixed.

The Dow fell 0.44%, the S&P 500 fell 0.00%, and the Nasdaq rose 0.03%. The Trade Desk dropped 6.24%, Strategy fell 4.10%, Tyson Foods fell 4.01%, Pinduoduo fell 3.23%, Agilent Technologies rose 16.27%, Dollar Tree rose 11.66%, Hormel rose 8.92%. As for the "Seven Sisters": Meta Platforms rose 1.09%, Microsoft rose 0.63%, Nvidia rose 0.17%, Apple fell 0.23%, Google fell 0.23%, Tesla fell 0.67%, Amazon fell 0.77%.

The number of initial unemployment claims in the United States unexpectedly rose to a one-month high but still remained at historically low levels.

The number of initial claims for unemployment benefits in the United States rose to 215,000 last week, reaching a one-month high.

Sanofi (SNY.US) global first new drug application for listing.

On May 28th, Sanofi (SNY.US) announced that the marketing application for Venglustat has been accepted by the FDA and granted priority review for the treatment of Type III Gaucher disease (GD3).

Domestic futures night trading session commences.

Platinum fell by 2.59% consecutively, the shipping index European line futures rose by 2.37% consecutively, natural rubber rose by 2.00% consecutively, lithium carbonate rose by 1.97% consecutively, and urea fell by 1.75% consecutively.

Best Buy Co., Inc. (BBY.US) Performance Growth Momentum Maxed Out: Q1 Electronics Sales Rebound, Platform and Advertising Business Drive Q2 Comparable Store Sales Guidance Exceeds Expectations.

Best Buy announces financial report: first quarter performance and second quarter same-store sales guidance both exceed expectations.

Splashing out $5.7 billion in cash! Fertitta will acquire Caesars Entertainment Inc (CZR.US) to create a new entertainment empire in the United States.

Caesars Entertainment (CZR.US) has agreed to be acquired by Eldorado Entertainment Company, this all-cash deal worth $5.7 billion will create a massive entertainment empire in the United States.

Transformation showing initial results! Kohl's (KSS.US) Q1 performance exceeds expectations, comparable sales achieve best performance in four years.

Kohl's announced better-than-expected performance for the first quarter of fiscal year 2026, indicating that the transformation of this department store chain under the leadership of CEO Michael Bend is beginning to show results.

The PCE inflation rate favored by the Fed has strengthened, and it may continue to remain unchanged in the future.

Driven by the increase in energy prices due to the Iran war, the inflation rate in the United States in April hit the fastest pace in three years, further solidifying economists' views that the Federal Reserve may keep interest rates unchanged for a long time before next year. The U.S. Bureau of Economic Analysis said on Thursday that the Personal Consumption Expenditures (PCE) index surged 3.8% in the 12 months through April, the biggest jump since May 2023. The March PCE inflation rate was revised to 3.5%. Excluding the volatile food and energy components, the core PCE price index rose 3.3% in April from a year earlier, up from 3.2% in March. The Federal Reserve uses the PCE inflation index as its reference for the 2% inflation target. Financial markets expect the Fed to keep the benchmark interest rate in the range of 3.50% to 3.75% until 2027.

Last week, the number of initial unemployment claims in the United States was 215,000, slightly higher than the estimated 210,500.

Actual GDP for the first quarter of the United States was revised to an annualized quarterly rate of 1.6%, with an expected value of 2.0% and a previous value of 2.0%.

Selected A-share Announcements | Semiconductor Manufacturing International Corporation (00981) and National Silicon Industry Group (688126.SH) have recently been reduced holdings by the national large funds.

According to the disclosure in the documents of the Hong Kong Stock Exchange, the National Integrated Circuit Industry Investment Fund Co., Ltd. reduced its long position in SMIC International to 7.99% on May 26, 2026, down from 8.08%.

Preview of US Stock Market | Three major stock index futures fell together, the US and Iran clashed again, April PCE is coming tonight.

Before the market opened on May 28 (Thursday), the futures of the three major US stock indices all fell.

Hong Kong Monetary Authority: In the first quarter of this year, early withdrawals of Mandatory Provident Fund due to permanent departure from Hong Kong involves a total amount of over 1.1 billion Hong Kong dollars, a decrease of 26.94% year-on-year.

The Hong Kong Mandatory Provident Fund Schemes Authority released the quarterly publication of the "Mandatory Provident Fund Schemes Statistical Digest" for March 2026 today.

National Development and Reform Commission: It is expected that there will be overall balance between energy supply and demand during this year's peak summer period.

In recent days, the National Development and Reform Commission organized a video conference to arrange and deploy the national energy guarantee work during the summer peak period.

Zimbabwe's lithium mining policy attracts attention, Chinese companies respond with limited impact.

According to China Securities News, Zimbabwe is planning to implement a mandatory equity policy for key mining companies such as lithium. However, Chinese companies such as China Minmetals Resources have stated that the policy has not yet been officially implemented and is only a personal opinion, and currently has no impact on existing mining operations. The "ban" on lithium ore exports from Zimbabwe earlier this year has caused a supply shortage, and there may be tight supply of lithium ore in China from May to June. Analysts predict that with global supply disruptions and demand growth, lithium prices may rise to 25,000 yuan/ton in the future.

No fear of heights? JP Morgan predicts that the army of individual investors will soon return, adding new momentum to the US stock market.

Retail trading accounted for a smaller proportion by the end of the first quarter, hitting a four-year low, but is expected to rebound, potentially bringing new momentum to the stock market.

Insult or not, people will still buy! Ferrari NV (RACE.US) CEO responds to criticism of first electric car: orders continue to increase, customers are voting with their wallets.

Ferrari's CEO stated that despite facing criticism, orders for the first electric car continue to increase.

New stock news | Lu Peng Pharmaceuticals submits documents to Hong Kong Stock Exchange again, core products in NDA stage escorting

According to the disclosure of the Hong Kong Stock Exchange on May 28, Lu Peng Pharmaceutical Co., Ltd. (referred to as Lu Peng Pharmaceutical) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Citic Securities as the sole sponsor.

At the time of the stock market surge, South Korea's pension fund significantly increased its target for local stock allocation! Passive selling restrictions are expected to support the mid- to long-term bull market.

South Korea's large-scale pension fund has significantly increased its domestic stock allocation target, a move that may help it avoid being forced to sell stocks due to recent sharp gains in the South Korean stock market causing its holdings to exceed the limit.

Chevron Corporation strengthens hedge against GEO Group Inc risk: applies to acquire offshore oil and gas field blocks near Greece to accelerate expansion of energy footprint in the Mediterranean.

Chevron Corporation has submitted an application to acquire oil fields in the offshore area of Greece.

Chairman of the Hong Kong Securities and Futures Commission, Huang Tianyou: Hong Kong capital market is the preferred platform for Mainland technology enterprises to go public overseas.

Huang Tianyou stated that, from market data, it can be seen that the Hong Kong capital market has already deeply integrated into the international layout of mainland science and technology enterprises, becoming the preferred platform for new economy companies to go public overseas.

New Stock News | Lu Peng Pharmaceutical Reapplies to Hong Kong Stock Exchange

According to the disclosure by the Hong Kong Stock Exchange on May 28, Lopeng Pharmaceutical Co., Ltd. (referred to as Lopeng Pharmaceutical) submitted its listing application to the main board of the Hong Kong Stock Exchange, with CITIC Securities as its exclusive sponsor.

After achieving record performance, Nomura Holdings, Inc. Sponsored ADR (NMR.US) is aiming for even greater success! Long-term profitability target raised by 50% with an aim to achieve 12% ROE.

Japan's largest securities firm Nomura Holdings has raised its profit target after achieving a record annual performance.

According to documents from the Hong Kong Stock Exchange: Lu Peng Pharmaceuticals Co., Ltd. - B has submitted an application for listing to the Hong Kong Stock Exchange.

Northbound funds | Northbound trading recorded a net buying of 7.609 billion RMB, triggering a wave of price hikes in wafer foundries. Northbound trading rapidly raised more than 4.1 billion Hong Kong dollars to invest in Semiconductor Manufacturing International Corporation (00981).

On May 28th, the Hong Kong stock market saw a net buying of 7.609 billion Hong Kong dollars by the Northbound funds. Among them, the Shanghai-Hong Kong Stock Connect saw a net buying of 7.561 billion Hong Kong dollars, while the Shenzhen-Hong Kong Stock Connect saw a net selling of 0.048 billion Hong Kong dollars.

Wang Renxun will visit South Korea next week, where he will meet with the chairman of LG Group and discuss collaboration with NAVER.

According to reports, NVIDIA CEO Jensen Huang is scheduled to visit South Korea next week, and is expected to meet with LG Group Chairman Koo Kwang-mo and discuss cooperation with South Korean internet giant NAVER.

Not just memory chips! NVIDIA Corporation (NVDA.US) suppliers warn of shortages in multiple key components continuing until 2028.

In addition to memory chips, other key components of data centers are also facing shortages.

Shenzhen Stock Exchange: Will steadily expand the mutual access mechanism, study and refine the QFII system optimization implementation measures.

On May 28th, the 2026 Global Investor Conference hosted by the Shenzhen Stock Exchange was held in Shenzhen.

The National Integrated Circuit Fund's long position in SMIC has decreased to 7.99%.

According to the disclosure of the Hong Kong Stock Exchange, the National Integrated Circuit Fund's long position in Semiconductor Manufacturing International Corporation Limited decreased from 8.08% to 7.99% on May 26, 2026.

Shenzhen Stock Exchange: Will steadily expand the mutual market access mechanism and study the fine-tuning of the QFII system to implement optimization measures.

The 2026 Global Investors Conference hosted by the Shenzhen Stock Exchange will be held on May 28 in Shenzhen. Next, the Shenzhen Stock Exchange will, under the leadership of the China Securities Regulatory Commission, adhere to the direction of market-oriented, rule of law, and internationalization, deepen reforms, expand opening up, optimize services, focus on improving the inclusiveness and adaptability of the system, better serve the development of new industries, new formats, and new technology companies, and continuously improve the ability to serve the development of new quality productivity. It will implement the deployment of the new round of opening up the capital market, steadily expand the connectivity mechanism, research and refine the measures to optimize the QFII system, and better serve the coordinated development of onshore and offshore markets. It will enrich the supply of diverse products, strengthen international cooperation in index compilation, actively promote the development of overseas ETF products. It will improve the service system for listed companies and international investors, support and guide listed companies to orderly layout international business, further enrich the information supply for overseas investors, and continuously enhance market inclusiveness, adaptability, and attractiveness.

Eurozone economic sentiment index in May was 93.5, surpassing the expected 92.8 and revised from the previous value of 93 to 93.2.

Xiaopeng Group's revenue in the first quarter was 13.03 billion yuan, estimated at 13.16 billion yuan.

Trump and UBS Group AG are bullish together, does Micron Technology (MU.US) still have double the potential after reaching a market value of over 1 trillion?

Micron's stock price has skyrocketed, and the upward trend may not have ended yet.

Boeing Company (BA.US) will "thaw" in China! CEO says: 200 aircraft orders will be finalized this year, with even larger deals to follow.

Boeing CEO Kelly Ortberg said that the order for 200 aircraft will be officially finalized later this year, and this is just the "first batch order" of a potentially larger-scale deal.

Hong Kong: The overall export and import values in April increased by 42.9% and 44.4% respectively compared to the same period last year.

In April 2026, the total value of exports and imports in Hong Kong increased by 42.9% and 44.4% respectively compared to the same period last year.

Ideal car: delivered 95,142 vehicles in the first quarter, a year-on-year increase of 2.5%.

Ideal Car announced its first quarter financial report for 2026, with a revenue of 23 billion yuan in the first quarter and 95,142 vehicles delivered, a year-on-year growth of 2.5%. For Ideal i6 users whose deliveries were delayed to the next year due to orders far exceeding expectations, Ideal Car proactively covered over 500 million yuan in additional purchase tax. As of the end of the first quarter, Ideal Car had cash reserves of 94.3 billion yuan, maintaining a fund size of around 100 billion yuan for 10 consecutive quarters. In addition, Ideal Car launched a $1 billion share buyback plan in March and quickly executed it. As of May 26, 2026, it had repurchased $139.7 million, completing approximately 14% of the total amount in just two months.

Hong Kong Stock Exchange: The upgrading project of the Financial Hall has begun, consolidating Hong Kong's status as a financial hub.

On May 28, the Hong Kong Stock Exchange held a special event "Connecting the World, Navigating the Future" to celebrate the 40th anniversary of the establishment of the Hong Kong Exchange and to mark the modernization process of the Hong Kong securities market.

Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) Q1 total revenue grew 25% year-over-year. Non-GAAP net profit reached 920 million Hong Kong dollars.

Futu Holdings (FUTU.US) announces its first quarter financial report for 2026.

The Hong Kong government announced the re-appointment of 57 members of the Chief Executive's Policy Committee.

The Hong Kong government announced the reappointment of 57 members of the Chief Executive's Policy Address Advisory Group, as well as the appointment of four new members. The term of office will take effect from May 30, 2026, and will end on June 30, 2027.

Computing power shortage intensifies? Musk: SpaceX only leases computing power to Anthropic for half a year, may withdraw during peak demand.

SpaceX CEO Elon Musk said on Thursday that SpaceX has only agreed to lease the Colossus AI training data center cluster to Anthropic for six months, but he added that the agreement "could potentially" be extended to several years.

Not just in the chip sector! Goldman Sachs predicts: The AI infrastructure wave is unfolding on a large scale, with total spending expected to reach $800 billion by the end of the year.

This wave is reshaping the investment cycle of American business.

Chinese car companies have exceeded the 100 million sales threshold for the first time.

On the afternoon of May 28th, SAIC Group delivered its 1 billionth car, marking the birth of the first car group in the history of the Chinese automotive industry to surpass the accumulated production and sales volume of 1 billion cars in Shanghai. The emergence of China's first "billion-level automotive enterprise" is a vivid testimony to the transformation of China's automobile industry from nothing to something, from weakness to strength over more than 70 years, and also a significant milestone for "Made in China".

Grand Technology (SDA.US) achieved a 28% year-on-year increase in revenue in Q1, with profits for three consecutive quarters. The premium for new energy vehicle insurance increased by 43% year-on-year.

Grand Technology's profit resilience continues to strengthen, achieving profit for the third consecutive quarter.

At the same time, PDD Holdings Inc. Sponsored ADR Class A (PDD.US) has launched a branding and internationalization campaign, and the new Pinduoduo confidently dives into the "deep water zone".

The new exploration that Pinduoduo is trying to answer is actually the era proposition of how Chinese manufacturing can rely on industrial upgrading and branding to go global. At present, Pinduoduo may not be able to provide super-expected profit data in the short term of one or two quarters, but in the long run, it will benefit a larger group of people.

Regarding the China-US tariff negotiations, the Ministry of Commerce responds.

The Ministry of Commerce will hold a press conference at 3 p.m. this afternoon. The spokesperson will introduce the recent key work in the field of commerce and answer questions from reporters.

AbbVie's CD123 ADC approved for market launch

AbbVie (ABBV.US) announced that the U.S. FDA has approved its ADC therapy, Pivekimab sunirine (PVEK), for the treatment of blastic plasmacytoid dendritic cell neoplasm (BPDCN).

South Korean AI chip startup FuriosaAI collaborates with Broadcom Inc. to develop the next generation inference accelerator, focusing on memory access and high-bandwidth data transfer.

FuriosaAI announced that it will form a strategic partnership with Broadcom (AVGO.US) to jointly develop its third generation (next generation) AI inference accelerator, with the goal of launching it in the first half of 2028.

Hong Kong to set up an international commercial court. Hong Kong government: Will fully support and cooperate in the preparatory work and related arrangements.

The judicial authorities of the Hong Kong Special Administrative Region announced on May 28 that they plan to establish the Hong Kong International Commercial Court as a specialized division under the High Court of Hong Kong, responsible for handling complex and high-value international and cross-border commercial disputes.

A-share market closing review | Index plunges and rebounds! Shanghai Composite Index rises by 0.12%, Optical communication surges

As of the close, the Shanghai Composite Index rose by 0.12% to 4098.64 points, with a turnover of 136.13 billion yuan; the Shenzhen Component Index rose by 0.80% to 15861.89 points, with a turnover of 159.09 billion yuan.

Latest

54 m ago

Xiaomi Car official Weibo account announced that the Xiaomi YU7 GT will officially start delivery tomorrow. At the same time, it was announced that tomorrow morning at 10:30, Lei Jun will be live streaming to deliver cars with Shu Qi and talk about the YU7 and visit the factory together. (Xiaomi Car)

55 m ago

Chinese Sanjiang Chemical (02198.HK) spent 3.5807 million Hong Kong dollars on May 28 to repurchase 1 million shares.

55 m ago

Hong Kong IPO: Suzhou Tiangong Vision Electronic Technology Co., Ltd. files application with the Hong Kong Stock Exchange

57 m ago

Xiaomi Automobile: Tomorrow, the delivery of the Xiaomi YU7 GT will officially begin.

57 m ago

New York gold futures broke through $4510 per ounce, rising 0.65% intraday.

Seeking Coverage

Being Writer

Exploring Cooperation