Market Insights: Jan 18th, 2024

Domestic Economic Trends:

• The Forex Eye Web VersionShanghai Index fell below 2,800 points, hitting a new low since April 2020, with major declines in sectors including hotels and tourism, food consumption, etc.
• Brokerage stocks staged a rebound during the session, with Xiangcai Securities hitting the daily limit, followed by gains in Huaxin Shares, Guosheng Financial Holdings, Cinda Securities, and Hualin Securities.
• Sichuan Ya'an discovered nearly one million tons of lithium resources, setting the record for the largest scale lepidolite-type single lithium mine in Asia.

International Finance News:

• Oil prices edged up in Asian trading influenced by the severe cold weather in the United States and military actions in the Middle East.
• U.S. crude oil inventories unexpectedly rose by 483,000 barrels last week, which caught the market's attention amidst rising concerns over demand.
• Goldman Sachs CEO David Solomon predicts the U.S. economy will not slow down significantly this year, but inflation may still be a concern.

Corporate Dynamics:

• Country Garden subsidiary Risland Australia sells its Sydney plots, completely exiting the Australian market.
• Longfor Group accelerates the pace of its overseas debt restructuring, appointing Amicorp as its financial advisor.
• Alibaba Health has acquired exclusive marketing audit rights for the medical health category of Ali Mama, with the transaction completed.

Global Market Trends:

• Yesterday, the MSCI Inc. Emerging Markets Index at one point dropped by 2.3%, the biggest intraday decline since August 2 of the previous year, with a cumulative decline of over 6% since the beginning of the year. South Korea and India's stock markets fell more than 2%.
• Pinduoduo-owned cross-border e-commerce platform Temu has ventured into the South African market, marking Temu's 49th country since its launch in September last year.

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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