Midnight! Adjustment of Chinese stocks listed overseas! Nasdaq surges.
1min read Chinese stocks listed in the US suddenly entered a correction.Nasdaq rose sharplyAt night, the three major US stock indexes all opened high, with the Nasdaq rising by as much as 1%. Earlier, Chinese stocks listed in the US continued to rise, but they fell into a correction, with the Nasdaq China Dragon Index falling by about 1.4%. Among individual stocks, Zhongjin Medical fell by more than 5%, and Huya fell by more than 2%. The Hong Kong stock market will open first next week.On the news front, the core PCE price index, the "favorite" inflation indicator of the Fed, was 2.8% year-on-year, which has stabilized for three consecutive months at this level, in line with market expectations.Fed Governor Bowman said that he continues to see the risk of inflation rising. He prefers to adjust policy cautiously and gradually, and interest rates are unlikely to be imposing significant constraints. He expects core inflation to further slow this year.Apple's stock price rose by nearly 4% in the evening.On the news front, Apple released its latest earnings.Apple's fourth-quarter revenue was US$124.3 billion, in line with analysts' expectations of US$124.1 billion. The revenue from iPhones was US$69.1 billion, below expectations of US$71 billion. Net sales in Greater China in the fourth quarter were US$18.51 billion, lower than the market's expectation of US$21.33 billion. The figure was US$20.819 billion in the year-earlier period.Cook said that there were three factors affecting Apple's performance in China. He said that half of the 11.1% decline was due to "channel inventory" changes, and Apple's smartphones have not yet been launched in China, and will stimulate the sales of Apple products through subsidies after the quarter ends.Gold rose again, with spot gold breaking through US$2,807/ounce to set a new record high.The reason for gold's continuous new highs is mainly due to the tariff threat from the US. President Trump said he plans to fulfill his commitment to impose a 25% tariff on imported goods from Mexico and Canada on February 1. This threat has raised concerns about a trade war, which may weaken economic growth in the US and even the world, boosting demand for safe-haven assets.Goldman analysts said, "We reiterate that gold is our most confident trading recommendation in commodities, driven by structural (central bank purchases) and cyclical (ETF purchases) factors."
