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Warren Buffett's investment flagship Berkshire Hathaway (BRK.A) (BRK.B) will hold in Omaha, Nebraska, the US the shareholders meeting. The meeting's Q&A session, which has always been of great interest to investors, will be held at 9:15 a.m. local time (10:15 p.m. HK time on Saturday) this Saturday (4th).
HKD Index once rose to 7.8087 this morning (3rd), logging an over-3.5-month high, with the spot rate last printing at 7.8125.
Goldman Sachs released a report updating its Asia Pacific Conviction List for May. Some of the Greater China "Conviction List Buys" covered by the broker are listed below:
Citi Research noted that US investors broadly agreed that China's Internet sector offered a very attractive opportunity in light of improving shareholder returns and earnings quality, as well as undemanding valuation.
Temu, the cross-border e-commerce platform of PDD (PDD.US) , set up a branch in South Korea, Whaleco Korea, in February 2024, but did not commence its business directly in South Korea, only carrying out overseas online shopping intermediary business there, Yonhap News Agency reported.
Morgan Stanley wrote in a report its belief that Li Auto (LI.US) 's share price will rise in 15 days, with a 70% to 80% chance. The broker gave the company an Overweight rating and a target price of US$65.
Chinese Premier Li Qiang emphasised the need to vigorously develop intelligent connected NEVs during his research at the 2024 Beijing International Automotive Exhibition yesterday (28 Apr). He stressed the need to lead industrial innovation with scientific and technological innovation, while deepening and expanding open cooperation. The automobile industry's premium, intelligent, and green upgrading shall be promoted to better meet and create market demand.
China Association of Automobile Manufacturers (CAAM) and the National Computer Network Emergency Response Technical Team (CNERT) organized a survey on automakers' 2022-2023 data security compliance of the newly-launched intelligent connected vehicles (ICVs) starting from November 2023, of which 76 models from 6 enterprises, namely, BYD, Li Auto, Lotus, Hozon New Energy, Tesla and NIO, met the 4 compliance requirements for auto data security, in accordance with the relevant regulations and standards like the "Several Provisions on the Management of Automobile Data Security (Trial)", GB/T41871-2022 "Security requirements for processing of motor vehicle data" and the principle of voluntary submission of inspection by the enterprises.
In response to report that Xiaomi Automobile kicked off development work on a new platform, XIAOMI-W (01810.HK) +0.060 (+0.346%) Short selling $480.82M; Ratio 15.607% 's general manager of public relations, Wang Hua, clarified on Weibo that the news was untrue, as quoted by Sina Tech.
AIA (01299.HK) +3.300 (+6.111%) Short selling $1.41B; Ratio 18.616% announced that for 1Q24 ending March this year, its value of new business (VONB) reached a record quarterly high of US$1.327 billion, surging 31% YoY on constant exchange rate (CER) terms and 27% on actual exchange rate (AER) terms, with double-digit growth across all reportable segments.