环球市场动态

Group 1 - The Federal Reserve maintained interest rates unchanged, aligning with market expectations, and raised the target interest rate midpoint for 2024 to 5.1% from 4.6% in March [2][14] - The U.S. economy shows strong confidence in labor markets and financial stability, with a focus on controlling inflation risks [2][14] - The report anticipates that the Fed will not lower interest rates this year, aiming to suppress U.S. demand and inflation [2] Group 2 - BYD is facing a preliminary anti-subsidy tax of 17.4% on its automotive exports to the EU, which is considered milder than market expectations [6] - The estimated impact on BYD's 2024 earnings is between 500 million to 1 billion RMB, accounting for approximately 1%-3% of net income [6] - The commencement of production at BYD's factory in Hungary in the second half of 2025 is expected to significantly mitigate the impact of tariffs [6] Group 3 - The A-share market showed mixed performance, with the Shanghai Composite Index closing at 3,037.47, up 0.31% [8] - The technology sector led the market with a 2.46% increase, while the energy sector faced a decline of 1.09% [8] - The report highlights a surge in consumer electronics stocks, driven by strong performance from Apple shares [8] Group 4 - The report indicates that the U.S. CPI for May was lower than expected, which may increase the likelihood of a rate cut by the Fed later this year [16] - The overall sentiment in the U.S. stock market was mixed, with the Dow Jones slightly declining while the S&P and Nasdaq indices rose [3][16] - The report notes that the MSCI decided not to include EU bonds in its government bond index, with a reevaluation planned for next year [14] Group 5 - The report discusses the positive outlook for the Korean conglomerate sector, noting a NAV discount of 50.6% due to market expectations of governance improvements [35] - The report highlights the potential for differentiated performance among proactive holding companies as business laws are revised [35] - Companies like SK Square and Doosan are identified as favorable investment opportunities within this sector [35] Group 6 - The report mentions that the demand for AI products in Taiwan is expected to remain strong, with significant orders anticipated in Q3 2024 [24] - The overall technology sector is experiencing stable demand, particularly in smartphones and servers, which may lead to improved profitability in the coming quarters [24] - The report identifies several preferred stocks in the Taiwanese tech sector, including Hon Hai and Quanta [24] Group 7 - The report notes that the U.S. crude oil inventory has increased, but market risk appetite has risen, leading to a slight increase in international oil prices [37] - Gold prices have seen a modest increase following the Fed's indication of only one rate cut this year, while basic metals have generally risen [37] - The report highlights the overall market sentiment influenced by the U.S. CPI data, which was significantly below expectations [37]