GMT EIGHT - OPPORTUNITIES IN CHINA

China National Gold Group Gold Jewellery Association: Q1 gold consumption increased by 4.41% year-on-year, and the increase in gold ETF positions increased by 115% year-on-year.

According to the latest statistics from the China Gold Association, in the first quarter of 2026, domestic raw gold production was 81.065 tons, a decrease of 6.178 tons year-on-year, a decrease of 7.08% year-on-year; imported raw gold production was 55.165 tons, an increase of 1.578 tons year-on-year, an increase of 2.94% year-on-year.

The Hong Kong Insurance Authority releases consultation summary on enhancing risk-based capital system, final rules expected to come into effect by the end of this year.

On May 8, the Insurance Authority of Hong Kong published a consultation summary on the proposed amendments to the Risk-Based Capital regime in relation to the Insurance Industry (Valuation and Capital) Rules (Chapter 41R).

The People's Bank of China solicits public opinions on the "Regulations on National Unified Centralized Account Management System Operations."

According to the website of the central bank, in order to strengthen the construction of financial rule of law and improve the legal system of central banks, the People's Bank of China plans to formulate the "Administrative Measures for the National Unified Central Account Management System Business Processing" and is now seeking public opinions.

Ministry of Finance issues notice on the budget allocation for the regulation of the lottery market in 2026.

The Ministry of Finance issues a notice regarding the budget for regulating the lottery market in 2026.

The Ministry of Industry and Information Technology has launched the Artificial Intelligence Technology Ethics Review and Service Pilot Plan to accelerate the implementation of review work.

Recently, the Ministry of Industry and Information Technology issued a notice, officially launching the Artificial Intelligence Technology Ethics Review and Service Pilot Program.

Involving emerging fields, ecological protection, agricultural development, etc.! The State Administration for Market Regulation has approved the release of 402 important national standards and standard modifications.

Recently, the State Administration for Market Regulation (National Standards Commission) approved the release of 402 important national standards and standard amendments, which involve emerging industries, ecological protection, safety production, agricultural development, and people's daily lives.

Market news: Due to the increase in memory chip costs, ByteDance has raised its planned expenditure on artificial intelligence infrastructure by 25% to 20 billion yuan this year.

Ministry of Commerce: Asia-Pacific economic and trade cooperation enters a more complex deep-water zone. The scope of topics further expands to emerging areas such as digital economy, green and low-carbon, and resilience of industrial and supply chains.

The Ministry of Commerce held a special press conference on May 9th to introduce the preparations for the APEC Ministerial Meeting. At the meeting, Lin Feng, Director General of the Department of International Trade of the Ministry of Commerce, stated that there have been significant changes this year in both the topics discussed and China's role at the Ministerial Meeting held in Suzhou. Specifically, in terms of the topics discussed, Asia-Pacific economic and trade cooperation has entered a more complex phase, with discussions expanding into new areas such as digital economy, green and low-carbon development, and the resilience of industrial and supply chains, with the aim of fostering new economic growth drivers. Lin Feng pointed out that the current international situation is complex and severe, and the global economy urgently needs new growth drivers. Both globally and in the Asia-Pacific region, there are different views and perspectives on future development. Faced with difficulties and challenges, APEC economies have shown a spirit of seeking common ground while reserving differences and a pragmatic attitude in the preparations for this Ministerial Meeting. This reflects the confidence and expectations of all parties in the APEC mechanism, Asia-Pacific cooperation, and China's successful hosting of the event.

Middle Finger Research Institute: The average residential rent in 50 cities in April fell slightly, with core cities like Beijing, Shanghai, and Shenzhen continuing to see an upward trend in rent.

According to statistics from the China Index Academy, in April 2026, the total number of open rooms for the top 30 centralized long-term rental apartment companies was 1.457 million, a decrease of 0.3 thousand from March.

"CLARITY Act" Approaching "Clear Moment"! Cryptocurrency Regulation Bill to Face US Senate, Stablecoin Interest Dispute Is Not Over Yet

The United States Senate committee will review the long-awaited cryptocurrency bill next week.

Baidu officially released the Wenzhin large model 5.1.

On May 9th, Baidu officially released the Wenxin large model 5.1, which uses the "multi-dimensional elastic pre-training" technology. It has now been launched simultaneously on Baidu-Qianfan model plaza and the Wenxin official website, targeting enterprise users and developers for open experience.

China CSSC Industry Association: China's shipbuilding completion volume in the first quarter was 15.68 million deadweight tons, a year-on-year increase of 46%.

On May 9th, the China Shipbuilding Industry Association's statistical data showed that from January to March 2026, China's shipbuilding completion volume was 15.68 million deadweight tons, a year-on-year increase of 46.0%, accounting for 57.3% of the world's total.

In the first quarter, China's exports of automotive goods to countries along the Belt and Road reached a cumulative amount of $38.3 billion, a year-on-year increase of 31.6%.

According to the data compiled by the China Association of Automobile Manufacturers, the General Administration of Customs showed that from January to March 2026, the cumulative amount of automobile goods exported from China to countries along the "Belt and Road" reached 383.0 billion US dollars, a year-on-year increase of 31.6%, accounting for 58.0% of the total automobile goods exported.

AI is rewriting the simulation chip cycle: this time it's not just "restocking"

Morgan Stanley's latest research believes that the fundamentals of the simulation chip are moving from an "L-shaped bottom" towards recovery: channel inventory is becoming more streamlined, pricing pressures are easing, and mature processes and power-related product supplies are selectively tightening.

"Lumentum standing in the light" breaks into Nasdaq 100! AI data center rushes into the "optical interconnection era"

Lumentum joining the Nasdaq 100 index, known as the "global technology stock barometer", is an extremely important positive catalyst for the company's fundamental prospects and investment prospects in the optical interconnection industry chain.

Cui Dongshu: In April, China's car exports reached 939,000 units, an increase of 19% month-on-month and 51% year-on-year.

In April 2026, against a backdrop of high oil prices and tight transportation capacity, China's automobile exports achieved a strong breakthrough: total vehicle exports reached 939,000 units, totaling $16.1 billion, with an increase of 51% and 44% in quantity and value, respectively, compared to the same period last year. With new energy products as the core, China accurately captured the strong global demand for low-energy consumption vehicles, mitigating the impact of oil price fluctuations and forming a positive cycle of "high oil prices new energy advantages amplified accelerated exports".

"New bond king" Gundlach warns that US stock valuations are too high: recommends increasing cash and physical asset allocation, buying gold on pullback.

He stated that if the price of gold falls below $3,500 per ounce, he will "buy heavily". According to market sources, he believes that the $4,100 to $4,200 range can be considered as the first target for building a position.

BYD Company Limited, Xiaopeng, and Guangzhou Automobile AI debunk rumors.

BYD, XPeng Motors, and GAC Aion have successively released statements denying rumors of being "called in for questioning" or "under investigation."

Storage chip stocks continue to surge: AI algorithm construction shifts from "lacking GPU" to "lacking memory"

Storage chip stocks continue to soar, fundamentally due to the expansion of AI capital expenditure.

Baidu (09888) TextMind 5.1 officially launched: Pre-training costs only about 6% of models of the same size in the industry, and search capabilities ranked first in the domestic LMArena.

Baidu's new generation of large basic model Wenxin 5.1 officially launched today.

"TACO" ebbs, "NACHO" enters the stage? Wall Street no longer betting on Hormuz sudden opening, Citigroup warns oil prices could surge to $120 again.

Citibank stated that if the US-Iran negotiations remain difficult, oil prices may continue to rise.

Crazy sell: Microsoft's position worth 8 billion US dollars! Well-known technology hedge fund "clears warehouse after holding stocks for ten years"

Sir Christopher Hohn, the founder of TCI Fund, has significantly reduced his stake in Microsoft from 10% of the investment portfolio at the end of last year to just 1% at the end of the first quarter of this year, involving approximately $8 billion.

General Administration of Customs: China's goods trade import and export increased by 14.9% in the first 4 months.

In April, the total value of goods traded in China was 4.38 trillion yuan, an increase of 14.2%. Among them, exports were 2.48 trillion yuan, an increase of 9.8%; imports were 1.9 trillion yuan, an increase of 20.6%.

Wall Street giant BlackRock doubles down on betting on RWA! Plans to issue two tokenized currency-based funds targeting stablecoin cash pools.

BlackRock plans to launch two money market funds targeting investors who hold cash in stablecoins rather than bank accounts. With the passage of the "Genius Act," demand for native blockchain reserve assets is expected to accelerate.

"Big Short" bets on Latin American digital gold mines! Contrarian bottom fishing for e-commerce and fintech giant MercadoLibre (MELI.US)

Hollywood movie "The Big Short" prototype, globally renowned hedge fund manager Michael Burry chooses to buy after the stock price of MercadoLibre falls, aiming for a long-term return of 15%.

When buying winners and selling losers, momentum trading is taken to the extreme, and the stock market frenzy driven by AI reaches the "wake-up moment."

Momentum trading reaches new extremes, triggering warnings on Wall Street. The pause in the Iran war, strong US employment data, and a sharp rise in leaders in artificial intelligence computing power have all fueled momentum trading, which applies to various risky assets including junk bonds and cryptocurrencies.

HK Bull/Bear Outstanding Qty Ratio(63:37) | May 9th

As of May 9th, the latest bull-bear ratio of the Hang Seng Index is 63:37.

"The Big Short" Burry warns that AI bubble may be approaching its end The current market resembles the eve of the 2000 technology stock bubble.

Berry warned that the current frenzy of the US stock market for artificial intelligence (AI) is increasingly resembling the final stage before the bursting of the Internet bubble.

The AI market trend has spread from NVIDIA Corporation (NVDA.US) to the entire hardware industry chain, with Intel Corporation (INTC.US) and Micron Technology, Inc. (MU.US) stock prices doubling within the year.

The "diffusion market" of the AI industry chain is further heating up.

Overnight US stocks | The non-farm payrolls in the United States exceeded expectations in April, with the S&P 500 and Nasdaq rising for the sixth consecutive week. Micron Technology, Inc. (MU.US) surged over 15%, surpassing a market value of $840 billion.

As of the close, the Dow rose 12.19 points, or 0.02%, to 49,609.16 points; the Nasdaq rose 440.88 points, or 1.71%, to 26,247.08 points; the S&P 500 index rose 61.82 points, or 0.84%, to 7,398.93 points.

The reasons for the Fed rate cut are gradually disappearing? Analysts: Inflation pressure may make policy stance more hawkish

With the US job market continuing to show resilience and inflationary pressures rising again, the market increasingly believes that the Federal Reserve will find it difficult to justify a rate cut in the short term.

US Stock Market Move | Mobia Medical (MOBI.US) debuts on the US stock market with an 18% decline at the opening.

As of the time of writing, the stock has fallen by 18%, closing at $12.3.

US Stock Market Move | Qualcomm (QCOM.US) soared more than 11% in early trading, with a cumulative increase of 75% since April.

On Friday, Qualcomm (QCOM.US) surged more than 11% in early trading, up 75% since April, and is now trading at $226.14.

The commercial shipping in the Hormuz Strait is nearly at a standstill, raising concerns about the impact on global energy supply.

After a new round of military conflict erupted between the United States and Iran near the Strait of Hormuz, the world's most important energy transport route is currently still in a state of "semi-closure."

US Stock Market Move | Q2 guidance is low, "NVIDIA Corporation's favorite child" CoreWeave (CRWV.US) falls more than 11% in early trading.

On Friday, "Nvidia's adopted son" CoreWeave (CRWV.US) fell more than 11% in early trading, now trading at $113.57.

A-share Evening Hotspot | Hitting the headlines! Three policies on artificial intelligence released simultaneously, which specific directions are worth paying attention to?

The Cyberspace Administration of China, the National Development and Reform Commission, and the Ministry of Industry and Information Technology recently jointly issued the "Implementation opinions on the standardized application and innovative development of intelligent bodies".

High oil prices and inflation pressures continue to impact household budgets, with US consumer confidence hitting a new historic low.

Consumer confidence in the United States has further declined recently and hit a new historic low.

US Stock Market Move | Q2 Guidance Weakens, Cloudflare (NET.US) Plunges Nearly 25% After Earnings

On Friday, Cloudflare (NET.US) plunged nearly 25% after its earnings report, now trading at $193.16.

US Stock Market Move | Q1 revenue surged 64%, Rocket Lab (RKLB.US) soared over 23% in early trading.

On Friday, Rocket Lab (RKLB.US) surged more than 23% in early trading, approaching a new high for the year, now trading at $96.79.

Goldman Sachs survey: Interruption or continuation of the Strait of Hormuz may extend to the second half of the year, market prefers to trade "short oil"

Goldman Sachs' latest survey shows that an increasing number of Wall Street investors believe that the obstruction of navigation in the Strait of Hormuz may continue until the second half of this year.

US Stock Market Move | The Nasdaq Composite rose 1.22%, hitting a new all-time high, with tech stocks performing well. American tech company AMD increased by more than 6%.

On Friday, the three major U.S. stock indexes opened higher collectively, with the Nasdaq rising 1.22% to continue hitting new highs, and technology stocks rising across the board.

During Golden Week, it is suspected that Japan intervened to protect the yen with $30.6 billion, causing a temporary halt to the defensive action, but the battlefront is not yet over.

After taking several obvious actions during the long holiday weekend, Japanese authorities may not intervene in the foreign exchange market on Thursday. According to the revised figures, the Ministry of Finance spent around $30.6 billion during the holiday period to support the yen.

After the sharp drop in performance, Wall Street's bullish logic remains unchanged: CoreWeave (CRWV.US) has accumulated a backlog of orders worth billions, building a moat, while Wells Fargo & Company has raised its target price against the trend.

CoreWeave's revenue guidance for the second quarter is $2.45 billion to $2.6 billion, with a midpoint of $2.53 billion, which is lower than analysts' consensus expectation of around $2.7 billion.

US Stock Market Move | Storage sector upswing Micron Technology, Inc. (MU.US) rose more than 8%

On Friday, the storage sector rose, with Micron Technology (MU.US) up over 8%, SanDisk (SNDK.US) up over 7%, Western Digital (WDC.US) up over 3%, and Seagate Technology (STX.US) up over 2%.

As soon as a name change, will it take off? Behind the frenzy of AI transformation of micro-cap stocks, or is it a signal of a bubble re-emergence?

A speculative phenomenon known as "corporate catering" is causing high alert on Wall Street.

US Stock Market Move | Reached a $3.4 billion AI cloud computing contract with NVIDIA Corporation, IREN (IREN.US) opened with a more than 10% surge.

On Friday, IREN (IREN.US) opened with a rise of over 10%, reaching a new high for the year, with a cumulative increase of 85% since April.

Apple stock price hits a new record high.

Apple's stock price rose by 2% to $293.2 per share, setting a new record high. The total market value reached $4.31 trillion.

Fitch first gives a "buy" rating to Fannie Mae (FNMA.US) and Freddie Mac (FMCC.US): the market severely underestimates the likelihood of an IPO before 2028.

After a period of silence in discussions related to Fannie Mae and Freddie Mac, investors underestimated the possibility of the two mortgage giants returning to the public market.

Non-farm employment exceeds expectations but salary growth slows, easing market concerns about interest rate hikes this year.

After nearly a year of fluctuations, the American labor market is now showing clearer signs of stabilizing.

US Stock Market Opening: Three major indexes rise simultaneously

The Dow rose 0.44%, the S&P 500 rose 0.46%, and the Nasdaq rose 0.59%. Akmai rose 22.94%, Monster Beverage rose 10.82%, CPAY rose 7.92%, XYZ rose 6.79%, and Micron rose 5.97%. In terms of the "Seven Sisters": Tesla rose 1.78%, Apple rose 1.57%, Nvidia rose 1.16%, Amazon fell 0.12%, Google fell 0.14%, Meta Platforms fell 0.34%, and Microsoft fell 1.22%.

Latest

4 m ago

Su Zifeng confirmed that he will attend the AMD AI Developer Day held in Shanghai.

4 m ago

Recently, it was reported that DeepSeek was carrying out its first round of fundraising to attract investments from companies such as Tencent and Alibaba, but negotiations between Alibaba and DeepSeek fell through recently. Market sources revealed to a reporter from China Business News today that Alibaba should not have been in negotiations. (China Business News)

6 m ago

"Billions of quantitative hedge funds evolution theory suspends new customer subscriptions for some of its products"

6 m ago

CNNC Technology: Nuclear power orders in hand amount to about 25 billion.

11 m ago

Spanish Interior Minister: Evacuation planes to France, Germany, Belgium, Ireland, and the Netherlands have been confirmed.

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