US stock trading

CLSA forecasted in a report that BIDU-SW (09888.HK)  -0.200 (-0.186%)    Short selling $82.99M; Ratio 11.602%   (BIDU.US)      would report slower core revenue growth of 3% YoY to RMB23.7 billion in 1Q24, while adjusted EBIT is forecast to fall 3% YoY to RMB5.2 billion, mainly due to the weakening macroeconomy. Demand for advertising in the healthcare, travel and e-commerce sectors remained strong, while demand for advertising in the property, automotive and franchising sectors was weak.

CLSA issued a research report forecasting that TECHTRONIC IND (00669.HK)  +0.500 (+0.448%)    Short selling $46.22M; Ratio 10.079%   's 1H24/ 2024 revenue will rise 6%/ 6.6% YoY, accelerating from the 3.6% incline in 2023. CLSA expected TECHTRONIC IND's 1H24 net profit to grow 17.3% YoY, benefiting from a 43-bps YoY increase in gross profit margin to 39.7%.

Hong Kong stocks continued to rebound since April, and the market consensus is that the biggest buyers on the margins are foreign investors, BOCOMI issued a research report saying. However, data constraints make it difficult to analyze specifically and quantitatively whether foreign investors are increasing their stakes.

According to Bitcoin Insider, Harvest Global Investments, the first batch of issuers of cryptocurrency ETFs in Hong Kong, has confirmed that it plans to open its Bitcoin (BTC) and Ethereum (ETH) ETFs to Chinese investors through the Southbound Stock Connect.

Despite the weak momentum in techs, the DJIA still closed 172 points higher, representing an incline for 6 consecutive days, marking the longest streak of record days YTD.

HSBC HOLDINGS (00005.HK)  -0.226 (-0.333%)    Short selling $387.73M; Ratio 10.648%   repurchased a total of 6.4565 million shares in the UK and Hong Kong venues yesterday (8th), involving a total of $455 million, according to HSBC HOLDINGS' announcement.

Markets are looking forward to the US Fed's interest rate cut and corporate quarterly results, and US stocks developed individually. DJIA rose 31 points or 0.1%, while the Nasdaq fell 0.1%.

As the market continued to look for clues of when the US Federal Reserve will cut interest rates and focused on a new batch of corporate results, the three major US stock indexes logged mixed performance on Tuesday.

AstraZeneca (AZN.US)      said it has begun to stop selling its Covid vaccine Vaxzevria globally and will retract the marketing authorisation for the vaccine in Europe, as a result of the development of several vaccines against mutated Covid viruses and a surplus of available boosters, which has led to a decline in demand for Vaxzevria.

CLSA issued a research report expecting that TENCENT (00700.HK)  -4.400 (-1.203%)    Short selling $416.05M; Ratio 5.693%   's 1Q24 revenue will grow at a slower rate of 5.9% to RMB158.9 billion, dragged down by a decline in domestic game revenue. However, adjusted EBIT is expected to maintain a healthy YoY growth of 15.6% to RMB53.2 billion.