GMT EIGHT - OPPORTUNITIES IN CHINA

Guosen: There are structural differences in technology assets between A-shares and H-shares. In the short term, A-share technology assets may continue to outperform.

The A-share technology sector, with stronger short-term performance certainty, may continue to outperform. If AI applications break through and overseas liquidity conditions improve in the mid-term, undervalued Hong Kong-listed technology stocks have significant upside potential.

"The 'Stock God of the White House' promotes the 'hottest storage'! Trump publicly praises Micron"

Before the meeting, the options "whales" acted first. In the afternoon of May 22, several traders concentrated on buying deep out-of-the-money (OTM) call options on Micron, with strike prices ranging from $750 to $1400. In just one second at 1:19:09, four different call options with different strike prices were traded simultaneously, totaling a premium of over $7.3 million. All trades were on the buy side, indicating a clear intention to aggressively buy up options.

Zhongtai: How to seize the current "fish tail market"?

Focus on the technology sector with high correlation to IPO giants in the storage and robotics directions, benefiting from the catalysis of the busy IPO period in June; new energy/battery/power equipment and non-ferrous metals.

Sinolink: The new round of HALO transactions or this round of market trends will depend on the situation in the Strait of Hormuz. It is recommended to pay attention to changes in the supply and demand structure of crude oil.

The vulnerability of the supply system can also lead to the global economy's future tendency to hold more physical assets to enhance its own ability to resist risks, and it is expected that the replenishment cycle of crude oil will continue to be sustainable.

The Sino-Iranian agreement "Rashomon": How to manage the Strait of Hormuz? Will high enriched uranium be abandoned or not?

The negotiations for a ceasefire between the US and Iran are entering the final stage, with Trump loudly announcing that the agreement is "basically reached" and Pompeo saying that "good news will come in a few hours" - however, both sides are describing the same memorandum in completely opposite ways: the US insists that Iran must hand over 440 kilograms of highly enriched uranium, while Iran categorically denies that the nuclear issue was ever mentioned. The controversy over the roadmap for reopening the Strait of Hormuz is also ongoing, with hawks in the Republican Party already launching attacks. Is the agreement truly a dawn of peace or just a political show with conflicting messages?

Overseas giants stopped production due to force majeure, causing a current gap in supply and demand of MDI and a sharp increase in prices. Why are domestic prices not rising but instead falling?

1. Recently, several chemical companies in North America announced limited supply of MDI products, affecting a total capacity of 70% of the total MDI production in the United States. 2. The domestic MDI market prices are not increasing but instead decreasing. Industry insiders suggest that with the end of the peak season for MDI in China, downstream demand is weakening, while the North American market cannot directly purchase Chinese products to make up for the supply-demand gap, thus needing to wait for demand transmission from the Europe and Asia-Pacific markets. 3. Currently, domestic MDI companies are still maintaining high profits.

Zhaoyin International: NVIDIA Corporation (NVDA.US) transitions to a full-stack AI factory platform. Global AI capital expenditure expansion beneficiaries include INNOSCIENCE (02577).

Continuing to have a positive outlook on domestic AI beneficiaries under the expansion of global AI infrastructure capital expenditures, including leading optical module manufacturer Canatord (300308.SZ), PCB manufacturer Shengyi Technology (600183.SH), and data center power supply manufacturer Enersys (02577).

JPMorgan Chase CEO Jamie Dimon admits: AI will eventually reduce banking jobs.

J.P. Morgan CEO Jamie Dimon bluntly stated that AI will "eventually compress" banking jobs. However, he emphasized that the natural attrition rate of 25,000 to 30,000 people per year will provide a buffer for job restructuring, and layoffs will be implemented gradually. McKinsey estimates that a third of the work hours in the financial industry can be automated, while Citigroup warns that over half of banking positions are at risk of being replaced - the AI transformation on Wall Street is inevitable.

American media reveal more details of imminent US-Iran agreement.

According to reports from US media, the US and Iran are about to reach an agreement, which includes extending the ceasefire for another 60 days, reopening the Strait of Hormuz during this period, allowing Iran to freely sell oil, and starting negotiations on Iran's nuclear program.

Even if the US-Iran agreement is reached quickly, HSBC still believes "inflationary effects will continue to exist, and more central banks will raise interest rates."

HSBC warns that even if the US and Iran quickly reach an agreement and the Strait of Hormuz reopens, the impact of supply shocks on global inflation is unlikely to be reversed, and more central banks will be forced to raise interest rates.

National Bureau of Statistics: In mid-May, prices of 20 important production materials in the circulation sector increased, prices of 23 decreased, and prices of 7 remained unchanged.

On May 24th, the National Bureau of Statistics released the price changes of important production materials in the circulation sector in mid-May 2026.

Bank of America's Hartnett: This is the biggest bubble since the railroad bubble. But before selling, wait for two things to happen.

Bank of America's Chief Strategist Hartnett has issued a warning: the market concentration of AI has reached the limit of the 1880 railroad bubble, and the bull-bear indicator has officially triggered a sell signal. However, he also cautioned investors that it is still too early to reduce positions until two key conditions are met.

Siasun Robot & Automation industry capitalization accelerates: First and second-tier markets are simultaneously active, and the production pace of leading companies is becoming clearer.

By 2026, the key focus will shift from the ability to perform actions to the feasibility of mass production and deployment of robots in various scenarios, marking an important milestone for the validation and implementation of robotic technology.

Parallel pattern is coming: Sodium battery cost expected to catch up with lithium battery this year. Material shortages may affect production.

Multiple companies have indicated that they expect to achieve large-scale production of sodium batteries in the fourth quarter of 2026, narrowing the gap with lithium iron phosphate batteries.

Hong Kong Stock Market New Account Opening Regulations and Their Market Impact? Here are the key points

With the exit of non-compliant retail investors' funds, the pricing of new stocks will rely more on the judgment of institutional investors, leading to a weakening of the "retail premium" component in the issuance pricing, and the level of marketization is expected to increase.

Trump: US-Iran agreement basically reached, including the opening of the Strait of Hormuz.

On the afternoon of the 23rd, President Trump of the United States posted on social media, stating that the United States and Iran have basically reached an agreement, pending final approval by both the US and Iran as well as other relevant Islamic countries. The agreement includes the opening of the Strait of Hormuz.

The Pakistani officials involved in the negotiation said: The interim agreement in its final stage is "quite comprehensive and enough to end this war".

"Wall Street's most accurate analyst" warns: giant IPO may lead US stocks to repeat the history of a century of bubbles.

Hartnett believes that the soaring bond yields are a sign of the end of prosperity and bubble.

"First class is in high demand" reappears! Strong demand for multiple routes in freight transportation, industry insiders predict that the peak in shipments on the Europe-America route may last for 1-2 months.

Industry insiders say that it is expected that the peak of the Europe-America route will last 1-2 months, and the cargo volume on the American route is expected to be good in the second half of the year, while the European route may see a decline.

New Stock News | Rongtai Pharmaceutical submits a second application to the Hong Kong Stock Exchange, becoming China's third-largest provider of digital marketing and supply chain services for the outpatient pharmaceutical market.

According to the prospectus, Rongtai Pharmaceuticals is a leading provider of digital marketing and supply chain services in China's major outpatient drug market.

The "contradictory trend" of US stocks and US bonds, who will win next?

The crack between the US stock market and US bonds is approaching a critical point. BCA Research's chief strategist warns that the divergence between the S&P 500's trend and the index's performance is evident, with only 55% of constituent stocks above the 200-day moving average. The dominance of the technology sector in propping up the market is difficult to sustain. With bond yields continuously rising, high inflation, and the Federal Reserve facing a dilemma in policy, under threefold pressure, a substantial correction in the stock market may be imminent, with emerging markets bearing the brunt.

New IPO news: Xiangdao Travel submitted a second application to the Hong Kong Stock Exchange, attracting key industry chain investors such as Momenta, Gaode, and Contemporary Amperex Technology.

Enjoy Travel is initiated and established by SAIC Motor Corporation, a giant in the automotive industry. In the process of development, key investors in the industry chain such as Momenta, Gaode, CATL, and others were introduced, allowing it to connect and integrate resources from automotive manufacturers, autonomous driving solution providers, high-precision digital map service providers, and power battery system providers.

The "impossible triangle" of the HORMUZ STRAIT.

The global market is betting on a dangerous "impossible triangle": financial risk premiums approaching a 20-year low, oil inventories potentially reaching critical levels in June, and the probability of the reopening of the Strait of Hormuz falling to 30%. Bank of America Merrill Lynch warns that these three factors cannot coexist - once inventory buffers are depleted, demand destruction will spread globally through oil price shocks, and macroeconomic fault lines hidden beneath the AI hype are also widening. The calm in the market may just be a prelude to the storm.

New Stock News | Innovative biopharmaceutical company Sinocelltech Inc. (688520.SH) files for listing on the Hong Kong Stock Exchange with a gross profit margin of over 90% for three consecutive years.

According to the prospectus, Shenzhou Cells (688520.SH) is an innovative biopharmaceutical company, focusing on the research and development, production, and commercialization of therapeutic antibodies, recombinant proteins, and vaccines.

New stock news | EROAD Travel's secondary listing on the Hong Kong Stock Exchange

According to the prospectus, Xiangdao Travel is a Chinese multi-scene intelligent travel integrated body.

New Stock News | Rongtai Pharmaceutical Files Second Application with Hong Kong Stock Exchange

According to the prospectus, Rongtai Pharmaceutical is a leading provider of digital marketing and supply chain services in China's major non-hospital pharmaceutical market.

New stock update: Sinocelltech Inc. (688520.SH) has submitted its application to the Hong Kong Stock Exchange.

According to the prospectus, Shenzhou Cell (688520.SH) is an innovative biopharmaceutical company focusing on the research and development, production, and commercialization of therapeutic antibodies, recombinant proteins, and vaccines.

Uber Technologies, Inc. (UBER.US) plans to fully acquire Germany's Delivery Hero to strengthen its online food delivery presence in Europe.

According to informed sources, Uber is exploring the possibility of fully acquiring the German company Delivery Hero. If the transaction is successful, it will help Uber better compete with DoorDash in markets outside of the United States.

Alphabet Inc. Class C (GOOGL.US) appeals against the monopoly ruling, claiming to have "won fair and square."

Google's parent company, Alphabet, officially filed an appeal on Friday against the federal judge's antitrust ruling in the United States, refuting accusations of illegal monopolizing of online search and related advertising markets, and emphasizing that the company's market position was earned through strength.

The new chairman of the Federal Reserve is sworn in! Trump calls for "restraining inflation, not greatness," and Powell states that he wants to be like Greenspan.

Trump, at the ceremony, stated his support for the independence of the central bank, but then quickly shifted the focus to publicly articulate his economic beliefs that he hopes the new chairman will follow - that economic prosperity should not be constrained and strong growth will not lead to inflation. Powell then gave a brief speech, rarely touching on policy details, but deliberately referencing former chairman Greenspan as a point of reference, saying: "I will fulfill this responsibility with vitality and a sense of purpose, just as Chairman Greenspan did."

SEC hits the emergency "brake"! Tokenized trading plan for US stocks suddenly postponed.

According to multiple sources familiar with the matter, the U.S. Securities and Exchange Commission (SEC) has delayed a plan to provide widespread exemptions for U.S. cryptocurrency companies, allowing them to trade tokenized assets tied to stocks.

Zoom (ZM.US) bets on Anthropic and achieves great success, making a crazy profit of 1 billion dollars from the investment.

In early 2023, Zoom made an investment in the artificial intelligence (AI) startup company Anthropic PBC, which has now generated approximately $1 billion in revenue for Zoom.

Jerome Powell was sworn in as chairman of the Federal Reserve, and at this moment, Wall Street no longer fantasizes about a rate cut.

Kevin Wash was sworn in as the new chairman of the Federal Reserve in Washington, emphasizing the need to fulfill his duties with "independence, clear judgment, and firm stance".

Starship V3's first flight test was successful on the eve of its IPO, marking a crucial milestone for SpaceX's trillion-dollar space AI empire.

In the sensitive window period leading up to its first initial public offering (IPO), SpaceX's upgraded version of the Starship (Starship V3) completed a critical test flight of "seeing each other's flaws" on Friday local time.

U.S. Trade Representative: Still considering imposing tariffs on chips but will not immediately implement them, will set up offset mechanism to attract factory construction.

United States Trade Representative Jamison Greer stated that the Trump administration is still considering imposing tariffs on imported semiconductors to promote the development of the domestic chip manufacturing industry, but there are currently no plans to implement new tariffs immediately.

HK Bull/Bear Outstanding Qty Ratio(61:39) | May 23rd

As of May 23rd, the latest bull-bear ratio of the Hang Seng Index is 61:39.

The latest round of financing for Anthropic is expected to exceed $30 billion, with a valuation that could surpass OpenAI, making it the world's most valuable AI startup company.

Anthropic is approaching the completion of a new round of large-scale financing.

Overnight US stocks | Wash sworn in as Chairman of the Federal Reserve, three major indexes closed up, Qualcomm (QCOM.US) rose by 11.6%, and Bitcoin fell below $77,000.

As of the close, the Dow rose 294.04 points, up 0.58%, to 50,579.70 points; the Nasdaq rose 50.87 points, up 0.19%, to 26,343.97 points; the S&P 500 index rose 27.73 points, up 0.37%, to 7,473.45 points.

Wall Street accelerates embrace of cryptocurrency market SEC approves Nasdaq to launch Bitcoin options products

The US Securities and Exchange Commission has approved Nasdaq to launch options products based on Bitcoin price indexes, indicating that the integration of Wall Street and the digital asset market is further accelerating.

The Fed's "institutional reform" is coming? Powell may reshape a $6.8 trillion balance sheet, market worries about the end of the era of "Fed put"

With Jerome Powell officially taking over as chairman of the Federal Reserve on Friday, Wall Street is engaging in heated discussions about the "institutional reforms" mentioned by this new leader.

Is the myth of "risk-free assets" being shaken? The soaring US bond yields have raised market concerns. HSBC warns that we have entered a "danger zone."

US treasuries have always been seen as the most core "risk-free asset" in global financial markets, but as yields continue to soar, more and more Wall Street institutions are starting to reexamine this traditional perception.

Wall Street looks forward to the "AI super bull market" sequel! From the strongest profit in the S&P in five years to Rubin's grand vision, AI computing power beyond GPU is skyrocketing.

The S&P 500 index is expected to see its strongest profit growth in five years, with 83% of companies outperforming analyst expectations. After rebounding 18% from its lows caused by the war, the S&P 500 index is poised to achieve eight consecutive weeks of gains.

US Stock Market Move | Quantum computing concept stocks continue to be strong, Infeqtion (INFQ.US) rose nearly 20%

On Friday, conceptual stocks related to quantum computing continued to show strength.

Wash is about to be sworn in as the chairman of the Federal Reserve. The market hawkish signal continues to heat up. Director Waller said that the probability of a rate hike or cut is "50-50".

President Trump will soon preside over the swearing-in ceremony of Kevin Warsh as the Chair of the Federal Reserve.

A-share evening hot topic | Tiger, Futu, and Changqiao will be fined! Eight departments jointly take action to regulate illegal cross-border securities and futures fund management activities.

On May 22, the China Securities Regulatory Commission (CSRC) issued an official announcement stating that CSRC has lawfully initiated investigations into Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong), and Changqiao Securities (Hong Kong) and related entities for their illegal securities business operations in China, and has informed them in advance of the administrative penalties to be imposed.

US Stock Market Move | Space concept stocks were active in early trading, with Redwire (RDW.US) rising by over 15%.

On Friday, space concept stocks showed active performance at the beginning of trading.

High oil prices and inflationary pressures continue to impact economic expectations, causing consumer confidence in the United States to fall to a record low in May.

American consumers' pessimism about the economic outlook is further intensifying.

UP Fintech Holding Ltd. Sponsored ADR Class A(TIGR.US): Subsidiary fined 308.1 million yuan by Beijing regulator for conducting illegal activities such as unlicensed cross-border securities business.

On May 22, the China Securities Regulatory Commission announced that it would strictly investigate and crack down on cases of illegal cross-border operations by institutions such as Tiger.

Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) responds to regulatory penalties: will actively cooperate with the relevant work of the China Securities Regulatory Commission.

On May 22, the China Securities Regulatory Commission announced that it will strictly investigate and deal with illegal cross-border business activities by institutions such as Futu.

New stock news | Autel Intelligent Technology Corp., Ltd. (688208.SH) plans to launch an IPO in Hong Kong. The China Securities Regulatory Commission requires supplemental information on the latest developments in the company and its domestic subsidiaries' litigation cases.

The China Securities Regulatory Commission has requested Daotong Technology to provide supplementary explanations on the latest developments of the company and its domestic subsidiaries' ongoing litigation cases, whether they constitute substantial obstacles to the overseas issuance and listing, and whether the relevant pending lawsuits have been adequately disclosed.

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12 m ago

The United Kingdom, along with France, Italy, Spain, and Canada, vetoed a proposal in NATO. The proposal required each member country to contribute 0.25% of their GDP to military aid for Ukraine. As it did not receive unanimous approval from all member countries before the NATO summit in Turkey, Secretary-General Stoltenberg withdrew the proposal.

13 m ago

The Shenzhou 23 manned spacecraft successfully completed autonomous rapid rendezvous and docking with the space station.

23 m ago

The God 23 successfully docked with the space station.

39 m ago

The European Central Bank has called on banks to address system vulnerabilities exposed by artificial intelligence models.

1 h ago

Venezuela announced signing three agreement protocols with Jordan, involving political consultation, diplomatic cooperation, and agriculture, and also signed a general framework agreement aimed at deepening bilateral relations.

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