US stock market

It is rumoured that US President Joe Biden will announce this week significant hikes to tariffs on some Chinese goods, with total tariffs on EVs rocketing from 27.5% to 102.5%.

Michigan Consumer Sentiment Prel for May in United States is 67.4, lower than the previous value of 77.2. The forecast was 76.AAStocks Financial News

HSBC HOLDINGS (00005.HK)  +0.300 (+0.443%)    Short selling $298.56M; Ratio 12.434%   repurchased a total of 7.1559 million shares in the UK and Hong Kong markets yesterday (9th), involving $487 million in total, according to HSBC HOLDINGS' announcement.

The comment of Qu Jing, former vice president of BIDU-SW (09888.HK)  -0.200 (-0.186%)    Short selling $82.99M; Ratio 11.602%   (BIDU.US)      , caused controversy. However, Cui Shanshan, senior vice president of the Group, said in her speech at the annual advanced award event that BIDU-SW's culture must be upheld and defended.

BIDU-SW (09888.HK)  -0.200 (-0.186%)    Short selling $82.99M; Ratio 11.602%   will release its 1Q24 results next Thursday (16th).

US Commerce Secretary, Gina Raimondo, said that the US could take extreme action, and ban China's connected autos or impose restrictions on them, according to Reuters.

NIO-SW (09866.HK)  -0.300 (-0.711%)    Short selling $31.32M; Ratio 39.327%   (NIO.US)      announced at the roll-off ceremony of its 500,000th mass production car that its second brand, Onvo, will launch its first model "Onvo L60" on the International Day of Families next Wednesday (15 May), targeting the mainstream family market.

ONVO, a sub-brand of NIO-SW (09866.HK)  -0.300 (-0.711%)    Short selling $31.32M; Ratio 39.327%   (NIO.US)      , will launch its first product, L60, next Wednesday (15th), according to Chinese media. The first model will be launched in 3Q24, and deliver in 4Q24.

Morgan Stanley released a research report, in which it reviewed the performance of a number of Chinese healthcare and biotechnology companies in the past year and adjusted some of its forecasts accordingly, taking into account the recent changes in the industry.

In April, Tesla, Inc. (TSLA.US)      's EV wholesales volume amounted to 62,167 in China, down 18% YoY, according to data released by the China Passenger Car Association (CPCA). BYD COMPANY (01211.HK)  -4.400 (-1.935%)    Short selling $225.67M; Ratio 24.844%   (002594.SZ)  -3.650 (-1.588%)   reported sales volume of over 312,000 units, up 48.97%/ 3.5% YoY/ MoM.