Market Insights: Dec 1st, 2023

Global Financial Markets:

1. China's November Caixin Manufacturing PMI: In November,Hong Kong foreign exchange formal trading platform China's Caixin Manufacturing Purchasing Managers' Index (PMI) reached 50.7, exceeding expectations and the previous month, indicating a recovery in the manufacturing sector.
2. ARKK Fund Performance: Influenced by expectations of interest rate cuts, the ARKK Fund achieved its best monthly performance since its establishment in 2014 in November.
3. South Korea's Chip Export Growth: In November, South Korea's chip exports increased by 12.9% year-on-year, marking the first growth in 16 months.
4. Federal Reserve's Interest Rate Hike Cycle Forecast: Market consensus suggests that the Federal Reserve's interest rate hike during the May meeting next year could be a turning point in the current interest rate hike cycle.
5. Energy Market Dynamics: In November, the cumulative decline in U.S. natural gas prices exceeded 26%, and WTI crude oil futures prices fell by more than 5.6%.

Business and Technology:

Tesla Cybertruck Deliveries: Tesla officially commenced deliveries of the Cybertruck, with some performance features comparable to sports cars but at a higher price. Investment bank Wedbush indicates Tesla's market value is poised to reach a trillion dollars, contingent on the success of the Cybertruck.

Economic Activities and Policies:

1. Decline in Oil Prices: Due to OPEC+ production cuts being smaller than expected and concerns over worsening demand exacerbated by weak Chinese data, oil prices experienced a slight decline in Asian trading, erasing earlier gains from earlier in the week.
2. Slight Decline in Dow Jones Futures: After reaching a new high in 2023, Dow Jones futures experienced a minor decline.
3. U.S. Economic Policy Trends: The U.S. Treasury Secretary stated that due to a decrease in inflation, the Federal Reserve does not need to raise interest rates further, anticipating an economic "soft landing."

Other Important News:

1. COP28 Climate Conference Achievements: The COP28 conference has made historic strides by establishing the "Climate Disaster Compensation Fund."
2. Pinduoduo Stock Price Surge: Pinduoduo experienced a substantial increase of over 4% in its stock price at the Thursday (30th) closing, leading to its market value exceeding Alibaba's for the first time on the U.S. stock market.
3. Thailand Implements PromptPay Payment System: Thailand is set to launch a new payment system, "PromptPay," next Monday, featuring a daily transaction limit of 10,000 yuan.
4. Evergrande Group's New Debt-to-Equity Proposal: Evergrande Group has introduced a fresh debt-to-equity proposal.
5. Comparison of Hong Kong Dollar Time Deposit Rates: Citibank has raised its Hong Kong dollar time deposit rate to 5.46%, and Sin Yin Chuen Hing has also increased its Hong Kong dollar time deposit rate.

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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