kim_8904 personal page - To The Moon

kim_8904

kim_8904

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2021-08-31

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Helen Division is offering its shares today, and the entrance fee is approximately HK$10,464.4

2021-07-15

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Past events of listing of Chinese Internet companies

2022-09-16

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Fed Interest Rate Decision Hits! rate hike 75 or 100 basis points? The dot plot is the focus

2022-09-24

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"White Horse Stocks" Encounter "Fixed-point Blasting", Institutional Disputes Market Outlook Trend

2022-09-20

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Sorry, the original content has been removed

2022-09-09

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ETF Tracking | Strong US dollar becomes a fatal nightmare for shareholders! This ETF can save lives

2022-09-09

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Change | Two good blessings! Game Station rose more than 11% premarket

2022-09-09

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Market Overview | Tencent was reduced by major shareholders, and tourism stocks became a new hot spot

2022-09-09

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ECB Announces rate hike of 75 bps, in line with market expectations

2022-09-09

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Powell: The Fed needs to act now to avoid the social cost of inflation

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22:36","market":"sh","language":"zh","title":"\"White Horse Stocks\" Encounter \"Fixed-point Blasting\", Institutional Disputes Market Outlook Trend","url":"https://stock-news.laohu8.com/highlight/detail?id=1101872550","media":"经济观察报","summary":"“一天‘杀’一只白马，A股总能在意想不到的地方找到下跌空间。”9月22日收盘后，在一个股票投资者的交流群中，有投资者这样评论当日行情。而在当日，引发投资者无奈调侃的那只白马，是素有“中药茅”之称的片仔","content":"<p><div>\"Killing a white horse a day, A shares can always find room to fall in unexpected places.\" After the market closed on September 22nd, in an exchange group of stock investors, some investors commented on the day's market. On the same day, the white horse that triggered investors' helpless ridicule was Pien Tze Huang (600436.SH), known as \"Chinese medicine Mao\". On September 22nd, in the absence of obvious bad news, Pien Tze Huang's share price suddenly plummeted in volume. On that day, it approached the limit, setting a new low of 259.69 yuan/share for the year, and then rebounded. The share price finally closed at 260.85 yuan, with a turnover of...</p><p><a href=\"\">Web link</a></div></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"White Horse Stocks\" Encounter \"Fixed-point Blasting\", Institutional Disputes Market Outlook Trend</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"White Horse Stocks\" Encounter \"Fixed-point Blasting\", Institutional Disputes Market Outlook Trend\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1014835943\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/53947f6c3e232c366cc0bd0fd311397d);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">经济观察报 </p>\n<p class=\"h-time smaller\">2022-09-23 22:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><div>\"Killing a white horse a day, A shares can always find room to fall in unexpected places.\" After the market closed on September 22nd, in an exchange group of stock investors, some investors commented on the day's market. On the same day, the white horse that triggered investors' helpless ridicule was Pien Tze Huang (600436.SH), known as \"Chinese medicine Mao\". On September 22nd, in the absence of obvious bad news, Pien Tze Huang's share price suddenly plummeted in volume. On that day, it approached the limit, setting a new low of 259.69 yuan/share for the year, and then rebounded. The share price finally closed at 260.85 yuan, with a turnover of...</p><p><a href=\"\">Web link</a></div></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e68f18a297e419bae3cc0320b6d8ff4e","relate_stocks":{"000001.SH":"上证指数"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101872550","content_text":"“一天‘杀’一只白马，A股总能在意想不到的地方找到下跌空间。”9月22日收盘后，在一个股票投资者的交流群中，有投资者这样评论当日行情。而在当日，引发投资者无奈调侃的那只白马，是素有“中药茅”之称的片仔癀（600436.SH）。9月22日，在没有明显利空消息的情况下，片仔癀股价突然放量暴跌，当日盘中一度逼近跌停，创下了259.69元/股的年内新低，随后又有所回升，股价最终收报260.85元，成交额达15.85亿元，收盘跌幅高达7.2%。经济观察网记者注意到，这是中秋假期以来，继药明康德（603259.SH）、阳光电源（300274.SZ）、东方财富（300059.SZ）等千亿老牌白马股之后，第10只发生放量闪崩的权重股。在和多位股票投资者沟通的过程中，记者发现，相比起近期市场整体的持续调整，如同“开盲盒”一般不停闪崩的白马股，是当前最令股民迷惑的市场现象。“已经跌了小一年了，（片仔癀）按理说应该已经跌到底了，为什么还能闪崩？”有股民发出如此疑问。“白马诅咒”在股票市场中，白马股不停闪崩的现象被称之为“白马诅咒”，往往成为市场情绪极度低迷的真实写照。据经济观察网记者统计，自9月中秋假期过后，市场先后有10只大市值权重股出现了破位暴跌的走势，而在其中，医药板块成了此轮杀跌的“重灾区”。9月13日，中秋假期过后的第一个交易日，CXO板块龙头药明康德盘中跌停，当日收报76.35元/股（本文股价均以前复权价格计算），成交额达57.8亿元，公司市值蒸发逾250亿元。随后，在9月14日至9月22日的7个交易日中，药明康德又有5天股价收阴，失守70元整数关口，如今仍围绕68元左右横盘震荡，而这一价格相较于去年7月16日该公司所触及的171.97元/股的盘中高点，已然“腰斩”。短短三个交易日之后，9月19日本周一，“医美双龙”爱美客（300896.SZ）、华熙生物（699363.SH）也均出现放量暴跌，其中华熙生物当日跌幅达13.68%，股价收报121.05元/股，直接击穿120日均线；爱美客则收跌11.6%，成交额达18.58亿元，当日市值蒸发约136亿元。9月21日周二，深受机构喜爱的“医械茅”迈瑞医疗（300760.SZ）也出现股价跳水，截至当日收盘下跌7.21%，股价收报264元/股，成交额达27.12亿元，这一价格相较于去年7月1日490.24元的高点已跌去44.36%，总市值缩水近2700亿元。9月22日，市场的“盲盒”开到了“中药茅”片仔癀的身上，该公司当日股价收跌7.2%，报260.85元/股，当日市场骤减122.05亿元，股价创下自2021年12月14日以来的新低。除此以外，诸如东方财富、三安光电（600703.SH）、阳光电源（300274.SZ）等千亿大白马也均在过去的7个交易日中，出现了破位暴跌的走势。其中，9月15日，阳光电源股价下挫8.49%，当日总市值蒸发近150亿元，东方财富在9月16日大跌10.78%，单日市值缩水328亿元，三安光电则于9月20日大跌7.05%，击穿四条短期均线，若以9月15日23.98元/股的开盘价计算，三安光电总市值在6个交易日内已经蒸发266.88亿元。记者注意到，从消息面上看，除片仔癀外，上述出现放量大跌情形的白马股近期在市场上均有相关利空消息出现。例如，美国总统拜登于美东时间9月12日签署行政令，鼓励美国本土生物技术、生物制造和相关研发，此举被市场普遍认为是针对我国CXO、CRO领域的新举措，首先影响的便是板块龙头药明康德。而9月16日东方财富股价发生闪崩的背景，则是国务院办公厅于9月15日发布的《关于进一步优化营商环境降低市场主体制度性交易成本的意见》，其中明确，将着力规范金融服务收费，鼓励证券、基金、担保等机构进一步降低服务收费，推动金融基础设施合理降低交易、托管、登记、清算等费用。此外，在9月19日，还出现了诸如三安光电相关高管被带走调查，相关部门将对医美机构展开财务核查等市场传闻。此外，经济观察网记者亦注意到，自9月13日以来，接连出现闪崩情形的白马股也多为机构的长期重仓股。例如，根据上述各家公司的中报披露数据，最早开启此轮闪崩浪潮的药明康德，就有128家基金公司旗下管理的1603只产品扎堆持有6.71亿股，占流通股之比高达26.31%；“券茅”东方财富的基金持股数则达到了25.51亿股，占流通股之比达23%，参与持股的基金产品数超过1700只；在22日闪崩的片仔癀，则是中欧明星基金经理葛兰的心头好，其位列葛兰代表产品中欧医疗健康的第七大重仓股，持仓数量高达821.51万股。接连闪崩的白马股，也让本就不理想的公募业绩雪上加霜。Wind统计数据显示，截至9月23日，全市场835只普通股票型基金，近一月平均业绩回报为-17.1%，部分基金的动态回撤甚至超过了40%。“外围压力”催动“资金踩踏”？在针对“白马诅咒”的情况走访投资机构的过程中，记者发现，受访机构普遍认为，近期市场调整主要压力主要在于外部因素，同各类市场传闻的关联则有限。华夏基金方面就告诉记者，虽然近期A股市场负面情绪扰动较多，但调整压力主要来自外部风险。在美联储货币政策加速收紧背景下，美元加息超预期，全球流动性总量收缩，导致风险资产剧烈波动，人民币汇率贬值压力加大；此外，加之部分传闻引发市场担忧，在内部经济复苏尚不稳固的情况下，投资者信心不足，导致股指出现惯性大跌。星石投资首席权益投资官郭希淳向记者表示，近期美联储紧缩和美国经济的走势将是未来对资产价格持续影响的重要因素。他指出，对于国内市场而言，国内经济基本面及经济预期是核心因素，但也需要关注海外市场波动带来的情绪传导。“目前国内股市维持缩量特征，市场情绪偏弱但并未出现进一步下行，美联储加息落地后对国内股市的实际影响将低于海外市场。今年以来，中美货币政策持续背离，我们认为近期人民币贬值也并不会影响国内流动性维持宽松的情况，叠加目前A股整体估值并不算高，A股受到的估值端压力明显小于美股。”郭希淳说。广州一家私募的投资经理刘禾则向记者指出，眼下市场存在的一些解读，将出现闪崩情形的白马股归结于对应的市场传闻所引发，但在他看来，这样的解读无异于“拿着答案找问题”。“传闻本来就是市场的过度解读，比如9月12日引发CXO动荡的那则‘美国禁令’，主要内容以鼓励医药制品的境内生产为主，但是并没有明确细针对国内的CXO产业的细则，结果传闻最后发酵成了CXO禁令。”刘禾说。在刘禾看来，上述传闻实际上不足以引发市场的大幅动荡。“发生闪崩的白马股都具有明显放量的特征，应当是机构资金出逃所致。”他指出。记者查阅市场数据发现，9月13日，即药明康德大跌当日，其龙虎榜数据显示，在卖出药明康德金额最大的前五名中，就有2家机构专用席位，各自卖出1.39亿元及2.45亿元。9月20日，三安光电龙虎榜中，卖方中有4家机构席位，合计卖出近7亿元。对于为何会出现机构齐齐抛售的情形，刘禾认为是估值回归的体现。“公司还是哪些公司，现在市场情绪导致估值有所不同，加之近来市场资金略有收紧，美联储激进升息，外资连续流出，自然要从暂无炒作热点的老白马中撤出资金。”刘禾表示。沪上一家公募的基金经理也告诉记者，此次闪崩的一系列白马股，自4月以来并未经历反弹行情，且部分公司的业绩增速放缓，出现了成长性与估值错配的情形。“就是因为这些白马一直在回调，回调太多了，到了某一个点位突然引发市场情绪的崩塌，资金开始踩踏出逃，而对于4月后，出现反弹的热门股，如今就算面临回调也仍有获利在手，当基金经理面临赎回压力时，便会考虑弃车保帅。”上述人士进一步补充。金信基金的基金经理黄飙也认为，近来市场行情变化，主要受外围市场风险传导影响，进而加剧了市场担忧。黄飙告诉记者，此次市场调整是经济底部阶段的一次风险集中释放，属于短期调整范畴，不必过于恐慌，新兴成长产业的景气度以及整体经济的中长期内生增长动力依然稳固，泛科技相关赛道细分龙头公司具有显著的壁垒和长期抗风险能力，技术创新和业绩增长将会是穿越周期的最持久的推动力。“科技创新与能源转型相关成长赛道景气依然较高，龙头公司的业绩增长确定性强，尽管估值溢价受到国内及外围宏观风险会有所波动，但这些赛道依然是市场主流资金的中长期投资方向，坚实的业绩将推动整体股价波动上行；此外，从经济前景看，目前国内经济增速在U型底部徘徊，通胀压力缓和，货币流动性非常充裕，利率处于低位，有利于市场估值维持在中性以上水平。”黄飙进一步补充称。展望后市，长城基金方面则直言，预计十一国庆长假前，行情将维持“鸡肋”状态，长假过后，随着“二十大”的召开，对于各项工作做出指导，市场交投情绪将有望逐渐回暖。“当前阶段比较复杂频繁的环境变化，对于市场来说挑战和机遇并存，逆全球化、内循环以及各类安全主题有可能会成为具有中期持续性的题材；就国内环境而言，经济的复苏仍然是大方向，十月中旬后稳增长和疫后复苏题材可能会呈现比较好的弹性。”长城基金如是称。","news_type":1,"symbols_score_info":{"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":2932,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9910446394,"gmtCreate":1663674060618,"gmtModify":1676537312997,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9910446394","repostId":"1108312879","repostType":4,"isVote":1,"tweetType":1,"viewCount":2611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9937987684,"gmtCreate":1663342236248,"g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21:52","market":"us","language":"zh","title":"Fed Interest Rate Decision Hits! rate hike 75 or 100 basis points? The dot plot is the focus","url":"https://stock-news.laohu8.com/highlight/detail?id=2267690068","media":"智通财经网","summary":"美联储将于北京时间9月22日凌晨公布利率决议，华尔街目前预计美联储加息100个基点的几率为20%，而宣布加息75个基点的几率为80%。除此之外，彭博社调查的经济学家称，美联储官员将在下周发出更加强硬的","content":"<p><html><head></head><body>The Federal Reserve will announce its interest rate decision in the early morning of September 22nd, Beijing time. Wall Street currently expects the probability of the Fed's rate hike of 100 basis points to be 20%, and the probability of announcing the rate hike of 75 basis points to be 80%. On top of that, economists surveyed by Bloomberg said Fed officials will signal a tougher stance next week, with rates hitting 4% by December and staying at that high level until 2023.</p><p><b>The terminal rate will reach 4.25%?</b></p><p>The survey shows that the Federal Reserve is expected to post a third straight 75 basis point rate hike next Thursday. This will raise the policy rate benchmark target range to 3%-3.25%. The Fed's forecast, released at this meeting, is expected to show that the upper end of the interest rate range is 4% before the end of the year, will continue to rise slightly next year, and rates will fall back to 3.6% after cuts begin in 2024.</p><p>The forecast is a big cut above the Fed's June forecast, reflecting a tougher Fed hit on inflation after CPI grew faster than expected in August.</p><p><img src=\"https://static.tigerbbs.com/cc4a6eebeb77fa6f4b9112a03992a976\" tg-width=\"947\" tg-height=\"470\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Federal Reserve Chairman Powell has said that the Fed is firmly committed to bringing inflation back to its 2% target and will not stop its efforts prematurely in the face of weaker economic data. The case for more aggressive action was reinforced by the U.S. August CPI data released Tuesday that exceeded expectations.</p><p>Robert Dent, senior US economist at Nomura Securities International, said: \"We expect the Federal Reserve to continue its rate hike until the achieved inflation rate drops. The CPI data in August adds a lot of urgency to the Fed's task. The longer the inflation rate remains high, the more people are worried that wages and prices will spiral and/or inflation expectations cannot be anchored and risen.\"</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>The Federal Reserve is expected to rate hike 75 basis points next week, as the CPI data in August exceeded expectations to overshadow the falling PPI data. \"We now expect the Fed to rate hike 75 and 50 basis points in September and November respectively, followed by 25 basis points each in December and February next year, with a final interest rate of 4.00-4.25%,\" Bank of America said in an investor note.</p><p>Bank of America added: \"We believe that the Fed will signal early next year to raise the terminal funds rate to 4.0-4.25%, 37.5 basis points higher than in June. We expect the statement from the Federal Open Market Committee (FOMC) to indicate that monetary policy will enter a restrictive zone, which the committee expects to remain in for 'some time', similar to the tone of Chairman Powell's speech at Jackson Hole.\"</p><p>Anna Wong, chief economist of Bloomberg USA, said, \"The 'dot plot' will show that the terminal interest rate will be higher in 2023. We think the terminal interest rate will rise to around 4.2%, compared with 3.8% in September and June. In addition, the decline in interest rates in 2024 will not be as violent as expected in September and June. Interest rates may fall to around 3.8%-4% in 2024, compared with 3.4% expected in September and June.\"</p><p><b>The dot plot will be the focus</b></p><p>Powell has been vague about how high rates could rise and said in July that the Fed would set policy \"meeting by meeting.\" That puts the dot plot forecast of the target rate at next week's meeting as a major focus for investors.</p><p>Economists expect the interest rate path laid out by the FOMC next week to be less aggressive than the market expects. Investors are fully pricing the Fed to rate hike 75 basis points next Wednesday and expect rates to rise a further percentage point to around 4.23% by year-end. While economists' own forecasts are largely in line with what they drew from the Federal Reserve's Summary of Economic Forecasts that interest rates will peak at 4% in December before falling in 2024.</p><p>Powell is trying to steer the U.S. economy toward a \"soft landing,\" in which economic growth slows, the labor market remains strong and inflation weakens. The survey shows that this will be reflected in the FOMC's economic growth forecasts for 2022 and 2023 — both of which are significantly downward revised from June, with the unemployment rate set to rise to 4.2% in 2024 from 3.7% reported in August.</p><p><img src=\"https://static.tigerbbs.com/b391b02bc4f1e88cf9739f29d0f395f5\" tg-width=\"939\" tg-height=\"536\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>\"Fed policy remains focused on inflation and there is little evidence that policy will react to a slowdown in economic/employment data or a decline in inflation,\" said Hugh Johnson, chairman of Hugh Johnson Economics LLC.</p><p>Inflation remains a central issue driving Fed policy. The FOMC is likely to maintain its forecast for inflationary pressures and expects inflation to be 5.2%, 2.6%, and 2.2% in 2022, 2023, and 2024, respectively. That means the Fed will not be able to meet its long-term inflation target of 2% until 2025.</p><p>Powell emphasized that the Fed will remain flexible on the rate hike plan, while the FOMC only provided appropriate easing guidance for sustained rate hike in previous statements. Three-quarters of economists expect the FOMC to reiterate that guidance, while the remaining majority believe the FOMC may say it expects the pace of interest rate hikes to slow, echoing Powell's recent public statements.</p><p>Two-thirds of economists also expect a unanimous decision this month that the FOMC will maintain a united front on Powell's action against inflation.</p><p><b>What about the shrinking balance sheet plan?</b></p><p>The Fed's plan to shrink its balance sheet is less clear-cut. This month, the amount of allowed exits from maturing securities rose to around $1.1 trillion a year. Economists expect the balance sheet to shrink to $8.4 trillion by the end of the year and to fall to $6.6 trillion by December 2024, according to the median estimate.</p><p><img src=\"https://static.tigerbbs.com/8318f98af3b11bb19d6fa3860c65ffa1\" tg-width=\"939\" tg-height=\"442\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Nearly half of respondents said Fed officials would resort to selling mortgage-backed securities outright, consistent with their propensity to hold only U.S. Treasury Bond for a long time. Among those economists anticipating a sale, views on when it will begin are widely divided, with a slight majority believing it will begin in the second quarter of 2023.</p><p><b>Can the U.S. economy make a soft landing?</b></p><p>Wall Street economists continue to raise concerns about the possibility of a U.S. recession. The Federal Reserve has tightened monetary policy amid headwinds such as rising food and energy prices caused by the Russia-Ukraine war.</p><p><img src=\"https://static.tigerbbs.com/244cc7fb519c3b9fecf311f1e2e63e1e\" tg-width=\"920\" tg-height=\"432\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Kathy Bostjancic, chief U.S. economist at Oxford Economics, said: \"We believe that longer duration, higher levels of inflation, stronger monetary policy tightening by the Federal Reserve, and negative spillovers from a weaker global economy will collectively push the U.S. economy into a mild recession in the first half of 2023.\"</p><p>Economists have mixed views on the outlook for the U.S. economy, with 49% saying a recession is likely over the next two years, 33% saying there could be zero or negative growth for some time to come, and the rest saying the Fed will deliver a soft landing for the economy with sustained growth and low inflation.</p><p></body></html></p>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Interest Rate Decision Hits! rate hike 75 or 100 basis points? The dot plot is the focus</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Interest Rate Decision Hits! rate hike 75 or 100 basis points? The dot plot is the focus\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2022-09-16 21:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The Federal Reserve will announce its interest rate decision in the early morning of September 22nd, Beijing time. Wall Street currently expects the probability of the Fed's rate hike of 100 basis points to be 20%, and the probability of announcing the rate hike of 75 basis points to be 80%. On top of that, economists surveyed by Bloomberg said Fed officials will signal a tougher stance next week, with rates hitting 4% by December and staying at that high level until 2023.</p><p><b>The terminal rate will reach 4.25%?</b></p><p>The survey shows that the Federal Reserve is expected to post a third straight 75 basis point rate hike next Thursday. This will raise the policy rate benchmark target range to 3%-3.25%. The Fed's forecast, released at this meeting, is expected to show that the upper end of the interest rate range is 4% before the end of the year, will continue to rise slightly next year, and rates will fall back to 3.6% after cuts begin in 2024.</p><p>The forecast is a big cut above the Fed's June forecast, reflecting a tougher Fed hit on inflation after CPI grew faster than expected in August.</p><p><img src=\"https://static.tigerbbs.com/cc4a6eebeb77fa6f4b9112a03992a976\" tg-width=\"947\" tg-height=\"470\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Federal Reserve Chairman Powell has said that the Fed is firmly committed to bringing inflation back to its 2% target and will not stop its efforts prematurely in the face of weaker economic data. The case for more aggressive action was reinforced by the U.S. August CPI data released Tuesday that exceeded expectations.</p><p>Robert Dent, senior US economist at Nomura Securities International, said: \"We expect the Federal Reserve to continue its rate hike until the achieved inflation rate drops. The CPI data in August adds a lot of urgency to the Fed's task. The longer the inflation rate remains high, the more people are worried that wages and prices will spiral and/or inflation expectations cannot be anchored and risen.\"</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>The Federal Reserve is expected to rate hike 75 basis points next week, as the CPI data in August exceeded expectations to overshadow the falling PPI data. \"We now expect the Fed to rate hike 75 and 50 basis points in September and November respectively, followed by 25 basis points each in December and February next year, with a final interest rate of 4.00-4.25%,\" Bank of America said in an investor note.</p><p>Bank of America added: \"We believe that the Fed will signal early next year to raise the terminal funds rate to 4.0-4.25%, 37.5 basis points higher than in June. We expect the statement from the Federal Open Market Committee (FOMC) to indicate that monetary policy will enter a restrictive zone, which the committee expects to remain in for 'some time', similar to the tone of Chairman Powell's speech at Jackson Hole.\"</p><p>Anna Wong, chief economist of Bloomberg USA, said, \"The 'dot plot' will show that the terminal interest rate will be higher in 2023. We think the terminal interest rate will rise to around 4.2%, compared with 3.8% in September and June. In addition, the decline in interest rates in 2024 will not be as violent as expected in September and June. Interest rates may fall to around 3.8%-4% in 2024, compared with 3.4% expected in September and June.\"</p><p><b>The dot plot will be the focus</b></p><p>Powell has been vague about how high rates could rise and said in July that the Fed would set policy \"meeting by meeting.\" That puts the dot plot forecast of the target rate at next week's meeting as a major focus for investors.</p><p>Economists expect the interest rate path laid out by the FOMC next week to be less aggressive than the market expects. Investors are fully pricing the Fed to rate hike 75 basis points next Wednesday and expect rates to rise a further percentage point to around 4.23% by year-end. While economists' own forecasts are largely in line with what they drew from the Federal Reserve's Summary of Economic Forecasts that interest rates will peak at 4% in December before falling in 2024.</p><p>Powell is trying to steer the U.S. economy toward a \"soft landing,\" in which economic growth slows, the labor market remains strong and inflation weakens. The survey shows that this will be reflected in the FOMC's economic growth forecasts for 2022 and 2023 — both of which are significantly downward revised from June, with the unemployment rate set to rise to 4.2% in 2024 from 3.7% reported in August.</p><p><img src=\"https://static.tigerbbs.com/b391b02bc4f1e88cf9739f29d0f395f5\" tg-width=\"939\" tg-height=\"536\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>\"Fed policy remains focused on inflation and there is little evidence that policy will react to a slowdown in economic/employment data or a decline in inflation,\" said Hugh Johnson, chairman of Hugh Johnson Economics LLC.</p><p>Inflation remains a central issue driving Fed policy. The FOMC is likely to maintain its forecast for inflationary pressures and expects inflation to be 5.2%, 2.6%, and 2.2% in 2022, 2023, and 2024, respectively. That means the Fed will not be able to meet its long-term inflation target of 2% until 2025.</p><p>Powell emphasized that the Fed will remain flexible on the rate hike plan, while the FOMC only provided appropriate easing guidance for sustained rate hike in previous statements. Three-quarters of economists expect the FOMC to reiterate that guidance, while the remaining majority believe the FOMC may say it expects the pace of interest rate hikes to slow, echoing Powell's recent public statements.</p><p>Two-thirds of economists also expect a unanimous decision this month that the FOMC will maintain a united front on Powell's action against inflation.</p><p><b>What about the shrinking balance sheet plan?</b></p><p>The Fed's plan to shrink its balance sheet is less clear-cut. This month, the amount of allowed exits from maturing securities rose to around $1.1 trillion a year. Economists expect the balance sheet to shrink to $8.4 trillion by the end of the year and to fall to $6.6 trillion by December 2024, according to the median estimate.</p><p><img src=\"https://static.tigerbbs.com/8318f98af3b11bb19d6fa3860c65ffa1\" tg-width=\"939\" tg-height=\"442\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Nearly half of respondents said Fed officials would resort to selling mortgage-backed securities outright, consistent with their propensity to hold only U.S. Treasury Bond for a long time. Among those economists anticipating a sale, views on when it will begin are widely divided, with a slight majority believing it will begin in the second quarter of 2023.</p><p><b>Can the U.S. economy make a soft landing?</b></p><p>Wall Street economists continue to raise concerns about the possibility of a U.S. recession. The Federal Reserve has tightened monetary policy amid headwinds such as rising food and energy prices caused by the Russia-Ukraine war.</p><p><img src=\"https://static.tigerbbs.com/244cc7fb519c3b9fecf311f1e2e63e1e\" tg-width=\"920\" tg-height=\"432\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Kathy Bostjancic, chief U.S. economist at Oxford Economics, said: \"We believe that longer duration, higher levels of inflation, stronger monetary policy tightening by the Federal Reserve, and negative spillovers from a weaker global economy will collectively push the U.S. economy into a mild recession in the first half of 2023.\"</p><p>Economists have mixed views on the outlook for the U.S. economy, with 49% saying a recession is likely over the next two years, 33% saying there could be zero or negative growth for some time to come, and the rest saying the Fed will deliver a soft landing for the economy with sustained growth and low inflation.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/793484.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/627bc890436e46f74a0fe8143398a725","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","BK4581":"高盛持仓","UPRO":"三倍做多标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","TQQQ":"纳指三倍做多ETF",".IXIC":"NASDAQ Composite","QID":"两倍做空纳斯达克指数ETF-ProShares","SPY":"标普500ETF","BK4534":"瑞士信贷持仓","PSQ":"做空纳斯达克100指数ETF-ProShares","DOG":"道指ETF-ProShares做空","SH":"做空标普500-Proshares","IVV":"标普500ETF-iShares","DJX":"1/100道琼斯","SDOW":"三倍做空道指30ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares",".SPX":"S&P 500 Index","QQQ":"纳指100ETF","BK4504":"桥水持仓","BK4559":"巴菲特持仓","SDS":"两倍做空标普500 ETF-ProShares",".DJI":"道琼斯","SQQQ":"纳指三倍做空ETF","BK4550":"红杉资本持仓","OEF":"标普100指数ETF-iShares","UDOW":"三倍做多道指30ETF-ProShares","OEX":"标普100","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares"},"source_url":"http://www.zhitongcaijing.com/content/detail/793484.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2267690068","content_text":"美联储将于北京时间9月22日凌晨公布利率决议，华尔街目前预计美联储加息100个基点的几率为20%，而宣布加息75个基点的几率为80%。除此之外，彭博社调查的经济学家称，美联储官员将在下周发出更加强硬的立场信号，到12月利率将达到4%，并在2023年之前保持在这一高位水平。终端利率将达4.25%？调查显示，美联储预计将于下周四连续第三次加息75个基点。这将把政策利率基准目标区间提高到3% - 3.25%。美联储在这次会议上发布的预测预计将显示，年底前利率区间的上限为4%，明年将继续小幅上升，2024年开始降息后利率将回落至3.6%。该预测比美联储6月份的预测高出一大截，反映出在8月份CPI增速高于预期后，美联储对通胀的打击更加强硬。美联储主席鲍威尔曾表示，美联储坚定致力于让通胀率回到2%的目标，不会在经济数据走弱的情况下过早停止努力。周二公布的美国8月份CPI数据超预期，强化了采取更积极行动的理由。野村证券国际公司高级美国经济学家Robert Dent称:“我们预计美联储将继续加息，直到实现的通货膨胀率下降，8月的CPI数据为美联储的任务增加了很大的紧迫性。通货膨胀率保持在高位的时间越长，人们就越担心工资价格螺旋上升和/或通货膨胀预期无法锚定而上升。”美国银行预计美联储下周将加息75个基点，因8月CPI数据超预期盖过了PPI数据回落的因素。美国银行在一份投资者报告中表示:“我们现在预计美联储在9月和11月将分别加息75和50个基点，随后在12月和明年2月各加息25个基点，最终利率将达到4.00-4.25%。”美国银行补充称:“我们认为，美联储将在明年初发出信号，将终端基金利率上调至4.0-4.25%，比6月份高出37.5个基点。我们预计联邦公开市场委员会(FOMC)的声明将表示，货币政策将进入限制性区域，委员会预计将在‘一段时间内’保持这种状态，这与鲍威尔主席在杰克逊霍尔讲话的基调类似。”彭博美国首席经济学家Anna Wong称“‘点阵图’将显示，2023年的终端利率将更高。我们认为终端利率将上升到4.2%左右，而9月6月时为3.8%。此外，2024年利率的下降不会像9月6月预期的那么猛烈。2024年利率可能会下降到3.8% -4%左右，而9月6月时的预期为3.4%。”点阵图将是焦点鲍威尔对利率可能上升到多高一直含糊其词，并在7月份表示，美联储将“逐次会议”制定政策。这使得在下周的会议上，对目标利率的点阵图预测将成为投资者关注的主要焦点。经济学家预计，FOMC在下周制定的利率路径将没有市场预期的那么激进。投资者完全定价美联储下周三将加息75个基点，并预计年底前利率将进一步上升一个百分点，至4.23%左右。而经济学家自己的预测与他们从美联储的《经济预测摘要》中得出的预测基本一致，即利率将在12月达到4%的峰值，然后在2024年下降。鲍威尔正试图引导美国经济走向“软着陆”，即经济增长放缓，劳动力市场依然强劲，通货膨胀减弱。调查显示，这将反映在FOMC对2022年和2023年的经济增长预测中——这两项预测均较6月份大幅下调，失业率将从8月份报告的3.7%升至2024年的4.2%。Hugh Johnson Economics LLC董事长Hugh Johnson表示：\"美联储政策仍专注于通胀，几乎没有证据表明政策会对经济/就业数据放缓或通胀率下降作出反应。\"通货膨胀仍然是推动美联储政策的核心问题。FOMC很可能维持其对通胀压力的预测，并预计2022年、2023年和2024年的通胀率分别为5.2%、2.6%和2.2%。这意味着美联储在2025年之前都无法实现2%的长期通胀目标。鲍威尔强调，美联储将在加息计划上保持灵活，而FOMC在此前的声明中只提供了适当的持续加息的宽松指导。四分之三的经济学家预计FOMC将重申这一指导方针，而其余多数经济学家则认为FOMC可能会表示，预期升息步伐将放缓，呼应鲍威尔最近的公开声明。三分之二的经济学家也预计本月会有一致决定，FOMC将在鲍威尔对抗通胀的行动上保持统一战线。缩表计划如何？美联储缩减资产负债表的计划就没有那么明确。本月，到期证券的允许退出金额上升至每年1.1万亿美元左右。经济学家预计，到今年年底，资产负债表将缩减至8.4万亿美元，根据预估中值，到2024年12月将降至6.6万亿美元。近一半的受访者表示，美联储官员们将诉诸于直接出售抵押贷款支持证券，这与他们表示的长期只持有美国国债的倾向一致。在那些预期出售的经济学家当中，关于何时开始出售的观点存在很大分歧，略占多数的人认为将在2023年第二季度开始出售。美国经济能否软着陆？华尔街经济学家继续对美国经济衰退的可能性表示担忧。在俄乌战争导致食品和能源价格上涨等不利因素的影响下，美联储收紧了货币政策。牛津经济研究院首席美国经济学家Kathy Bostjancic表示:“我们认为，持续时间更长、通胀水平更高、美联储货币政策收紧力度更大，以及全球经济疲软带来的负面溢出效应，这些因素将共同推动美国经济在2023年上半年陷入温和衰退。”经济学家对美国经济前景的看法不一，49%的人认为未来两年可能出现衰退，33%的人认为未来一段时间可能出现零增长或负增长，其余的人则认为美联储将实现持续增长和低通胀的经济软着陆。","news_type":1,"symbols_score_info":{"161125":0.6,"513500":0.6,"QID":0.6,"QQQ":0.6,"SDS":0.6,"UDOW":0.6,"OEF":0.6,"NQmain":0.6,"IVV":0.6,"DOG":0.6,".SPX":0.6,"ESmain":0.6,"DJX":0.6,"DDM":0.6,"SSO":0.6,".DJI":1,"MNQmain":0.6,"SPXU":0.6,"TQQQ":0.6,".IXIC":1,"OEX":0.6,"SQQQ":0.6,"SDOW":0.6,"QLD":0.6,"UPRO":0.6,"SPY":1,"SH":0.6,"PSQ":0.6,"DXD":0.6}},"isVote":1,"tweetType":1,"viewCount":2556,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938707895,"gmtCreate":1662674323717,"gmtModify":1676537112429,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938707895","repostId":"1198267340","repostType":4,"repost":{"id":"1198267340","kind":"news","weMediaInfo":{"introduction":"ETF爱好者都关注了，走在被动投资最前沿","home_visible":1,"media_name":"ETF小帮手","id":"1030108964","head_image":"https://static.tigerbbs.com/53452c6d05728a1369e33ffed184d759"},"pubTimestamp":1662604048,"share":"https://ttm.financial/m/news/1198267340?lang=en_US&edition=fundamental","pubTime":"2022-09-08 10:27","market":"sh","language":"zh","title":"ETF Tracking | Strong US dollar becomes a fatal nightmare for shareholders! This ETF can save lives","url":"https://stock-news.laohu8.com/highlight/detail?id=1198267340","media":"ETF小帮手","summary":"主要观点：美元指数创新高的直接原因是美联储开启激进加息周期来遏制高通胀。此外，美国经济复苏情况更优、市场避险情绪加大以及非美货币疲软也是美元创新高的推动因素。美元指数是衡量美元兑其他世界储备货币的汇率","content":"<p><html><head></head><body>Key takeaways: The direct reason for the record high in the US Dollar Index is that the Federal Reserve starts an aggressive rate hike cycle to curb high inflation. In addition, the better economic recovery in the United States, the increased risk aversion in the market and the weakness of non-US currencies are also the driving factors for the record high of the US dollar. The the US Dollar Index is a measure of the exchange rate of the U.S. dollar against other world reserve currencies. While the index includes the euro, sterling, Japanese yen, Canadian dollar, Swedish krona and Swiss franc, the movement of the euro against the dollar dominates the index. The the US Dollar Index euro has a 57.6% currency weighting against the US dollar.<img src=\"https://static.tigerbbs.com/83d4bcccde50851b02545042d6130d0f\" tg-width=\"779\" tg-height=\"318\" referrerpolicy=\"no-referrer\"/>The current bullish trend in the US Dollar Index began in early 2021 when the index bottomed at 89.165. Since then, the index has reached record highs, reaching near 110 on September 1, 2022. Currency trends tend to last for many years, and the bullish trend of the US dollar or continue to break new highs.</p><p>The Invesco DB Dollar Call Fund (NYSEARCA: UUP) has risen and fallen with the index, while the UDN product has the opposite.</p><p><b>the US Dollar Index hits two-decade high</b></p><p>The the US Dollar Index futures contract fell to a low of 89.165 in early January 2021. Since then, the index has continued to hit higher lows and higher highs, breaking through key technical resistance levels in May 2022.<img src=\"https://static.tigerbbs.com/3f8564ecc097378d7f7d24f71543b09c\" tg-width=\"640\" tg-height=\"441\" referrerpolicy=\"no-referrer\"/>ICE the US Dollar Index Futures Contract (Bar Chart)</p><p>The chart shows the US Dollar Index reaching a technical breakout at a high of 110.260 on September 1. The last time the index surpassed 110 was in 2002. It closed at 109.510 on Friday, September 2, and hit a new high on Monday, September.</p><p><b>Fed remains committed to fighting inflation</b></p><p>U.S. monetary policy is one of the factors that ignited the bullish fuse for the dollar over the past few months and pushed it to its best level in two decades. At their recent annual conference in Jackson Hole, Wyoming, Fed Chair Jerome Powell and other Fed economists reiterated their hawkish commitment to fighting inflation by raising interest rates. Markets are predicting that the Fed will raise its Federal Funds rate by 50 or even 75 basis points at the upcoming September FOMC meeting.</p><p><b>The bearish trend for the euro</b></p><p>Meanwhile, the war in Europe has created an almost perfect fundamental bullish case for the dollar, which has put a lot of pressure on the euro. It has been 20 years since the euro traded at parity against the dollar. The euro fell below parity on Sept. 5 against the dollar after a steady decline since the start of 2021.<img src=\"https://static.tigerbbs.com/da34b9fe36b19265f0fca0b6031cb214\" tg-width=\"640\" tg-height=\"445\" referrerpolicy=\"no-referrer\"/>EURUSD Currency Pair (Bar Chart)</p><p>The chart shows the path of minimal resistance for EURUSD since it fell to $1.2349 in early January 2021 and hit a recent low of $0.98785 on September 5.</p><p><b>UUP Is a Bullish the US Dollar Index ETF Product</b></p><p>The most direct path to risky positions in the the US Dollar Index is through futures contracts on the Intercontinental Exchange (ICE). For those who do not wish to participate in the rise of the US dollar without getting involved in the futures market or the global OTC forex market, the Invesco DB the US Dollar Index Bullish Fund follows the rise of the index. UUP's bearish rival, the UDN product, is the opposite.</p><p>At the Sept. 2 level of $29.38 per share, UUP has $2.051 billion in assets under management. On average, the fund trades more than 3.9 million shares per day and charges a management fee of 0.78%. The $17.52 bearish UDN product has $71.884 million in assets under management. On average, UDN trades 141,895 shares per day with an expense ratio of 0.77%.</p><p>the US Dollar Index rose 23.3% from 89.165 at the beginning of 2021 to 109.980 on September 1, 2022.<img src=\"https://static.tigerbbs.com/03929f887ee6835c06e2c93d7243814c\" tg-width=\"640\" tg-height=\"464\" referrerpolicy=\"no-referrer\"/>UUP Bull the US Dollar Index ETF Product Chart (Bar Chart)</p><p>Over the same period, UUP rose 22.3% to $29.47 from $24.09 per share.</p><p>The bearish UDN product fell 20.2% to $17.49 per share from $21.91 in the same period. The UUP and UDN products do well in tracking the ups and downs of the the US Dollar Index. UUP and UDN only trade during U.S. stock market operations, so they may miss highs or lows outside of U.S. stock market trading hours. the US Dollar Index hit a 20-year high during the U.S. Labor Day holiday on Monday, Sept. 5, when UUP and UDN were untradable.</p><p>the US Dollar Index is still moving higher as of early September 2022. While bullish trends rarely move in a straight line, and the likelihood of occasional corrections increases with increasing levels, the dollar remains the strongest fiat reserve currency in the world, with rising U.S. interest rates and geopolitical turmoil in Europe supporting the dollar's upward trend. If the Fed continues to violently rate hike to curb inflation, and your portfolio contains a large number of stocks and commodity bonds, consider UUP to hedge investment risks.</p><p>Potential obstacles to higher the US Dollar Index are the end of hostilities in Europe and the Federal Reserve's shift in monetary policy in response to mounting recession pressures.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ETF Tracking | Strong US dollar becomes a fatal nightmare for shareholders! This ETF can save lives</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nETF Tracking | Strong US dollar becomes a fatal nightmare for shareholders! This ETF can save lives\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1030108964\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/53452c6d05728a1369e33ffed184d759);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">ETF小帮手 </p>\n<p class=\"h-time smaller\">2022-09-08 10:27</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Key takeaways: The direct reason for the record high in the US Dollar Index is that the Federal Reserve starts an aggressive rate hike cycle to curb high inflation. In addition, the better economic recovery in the United States, the increased risk aversion in the market and the weakness of non-US currencies are also the driving factors for the record high of the US dollar. The the US Dollar Index is a measure of the exchange rate of the U.S. dollar against other world reserve currencies. While the index includes the euro, sterling, Japanese yen, Canadian dollar, Swedish krona and Swiss franc, the movement of the euro against the dollar dominates the index. The the US Dollar Index euro has a 57.6% currency weighting against the US dollar.<img src=\"https://static.tigerbbs.com/83d4bcccde50851b02545042d6130d0f\" tg-width=\"779\" tg-height=\"318\" referrerpolicy=\"no-referrer\"/>The current bullish trend in the US Dollar Index began in early 2021 when the index bottomed at 89.165. Since then, the index has reached record highs, reaching near 110 on September 1, 2022. Currency trends tend to last for many years, and the bullish trend of the US dollar or continue to break new highs.</p><p>The Invesco DB Dollar Call Fund (NYSEARCA: UUP) has risen and fallen with the index, while the UDN product has the opposite.</p><p><b>the US Dollar Index hits two-decade high</b></p><p>The the US Dollar Index futures contract fell to a low of 89.165 in early January 2021. Since then, the index has continued to hit higher lows and higher highs, breaking through key technical resistance levels in May 2022.<img src=\"https://static.tigerbbs.com/3f8564ecc097378d7f7d24f71543b09c\" tg-width=\"640\" tg-height=\"441\" referrerpolicy=\"no-referrer\"/>ICE the US Dollar Index Futures Contract (Bar Chart)</p><p>The chart shows the US Dollar Index reaching a technical breakout at a high of 110.260 on September 1. The last time the index surpassed 110 was in 2002. It closed at 109.510 on Friday, September 2, and hit a new high on Monday, September.</p><p><b>Fed remains committed to fighting inflation</b></p><p>U.S. monetary policy is one of the factors that ignited the bullish fuse for the dollar over the past few months and pushed it to its best level in two decades. At their recent annual conference in Jackson Hole, Wyoming, Fed Chair Jerome Powell and other Fed economists reiterated their hawkish commitment to fighting inflation by raising interest rates. Markets are predicting that the Fed will raise its Federal Funds rate by 50 or even 75 basis points at the upcoming September FOMC meeting.</p><p><b>The bearish trend for the euro</b></p><p>Meanwhile, the war in Europe has created an almost perfect fundamental bullish case for the dollar, which has put a lot of pressure on the euro. It has been 20 years since the euro traded at parity against the dollar. The euro fell below parity on Sept. 5 against the dollar after a steady decline since the start of 2021.<img src=\"https://static.tigerbbs.com/da34b9fe36b19265f0fca0b6031cb214\" tg-width=\"640\" tg-height=\"445\" referrerpolicy=\"no-referrer\"/>EURUSD Currency Pair (Bar Chart)</p><p>The chart shows the path of minimal resistance for EURUSD since it fell to $1.2349 in early January 2021 and hit a recent low of $0.98785 on September 5.</p><p><b>UUP Is a Bullish the US Dollar Index ETF Product</b></p><p>The most direct path to risky positions in the the US Dollar Index is through futures contracts on the Intercontinental Exchange (ICE). For those who do not wish to participate in the rise of the US dollar without getting involved in the futures market or the global OTC forex market, the Invesco DB the US Dollar Index Bullish Fund follows the rise of the index. UUP's bearish rival, the UDN product, is the opposite.</p><p>At the Sept. 2 level of $29.38 per share, UUP has $2.051 billion in assets under management. On average, the fund trades more than 3.9 million shares per day and charges a management fee of 0.78%. The $17.52 bearish UDN product has $71.884 million in assets under management. On average, UDN trades 141,895 shares per day with an expense ratio of 0.77%.</p><p>the US Dollar Index rose 23.3% from 89.165 at the beginning of 2021 to 109.980 on September 1, 2022.<img src=\"https://static.tigerbbs.com/03929f887ee6835c06e2c93d7243814c\" tg-width=\"640\" tg-height=\"464\" referrerpolicy=\"no-referrer\"/>UUP Bull the US Dollar Index ETF Product Chart (Bar Chart)</p><p>Over the same period, UUP rose 22.3% to $29.47 from $24.09 per share.</p><p>The bearish UDN product fell 20.2% to $17.49 per share from $21.91 in the same period. The UUP and UDN products do well in tracking the ups and downs of the the US Dollar Index. UUP and UDN only trade during U.S. stock market operations, so they may miss highs or lows outside of U.S. stock market trading hours. the US Dollar Index hit a 20-year high during the U.S. Labor Day holiday on Monday, Sept. 5, when UUP and UDN were untradable.</p><p>the US Dollar Index is still moving higher as of early September 2022. While bullish trends rarely move in a straight line, and the likelihood of occasional corrections increases with increasing levels, the dollar remains the strongest fiat reserve currency in the world, with rising U.S. interest rates and geopolitical turmoil in Europe supporting the dollar's upward trend. If the Fed continues to violently rate hike to curb inflation, and your portfolio contains a large number of stocks and commodity bonds, consider UUP to hedge investment risks.</p><p>Potential obstacles to higher the US Dollar Index are the end of hostilities in Europe and the Federal Reserve's shift in monetary policy in response to mounting recession pressures.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/020072d4d1ad231ae4a1345540d7972c","relate_stocks":{"QQQ":"纳指100ETF","UDN":"做空美元指数-PowerShares","UUP":"美元ETF-PowerShares DB"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198267340","content_text":"主要观点：美元指数创新高的直接原因是美联储开启激进加息周期来遏制高通胀。此外，美国经济复苏情况更优、市场避险情绪加大以及非美货币疲软也是美元创新高的推动因素。美元指数是衡量美元兑其他世界储备货币的汇率。虽然该指数包括欧元、英镑、日元、加元、瑞典克朗和瑞士法郎，但欧元兑美元汇率的走势主导着该指数。美元指数欧元兑美元货币权重为 57.6%。当前美元指数的看涨趋势始于 2021年初，当时该指数触底 89.165。此后，该指数屡创新高，于 2022年 9月 1日达到接近 110的水平。货币趋势往往持续多年，美元的看涨趋势或继续突破新高。Invesco DB美元看涨基金 ( NYSEARCA: UUP )随指数上涨和下跌，而 UDN产品则相反。美元指数创二十年新高美元指数期货合约在 2021年 1月上旬跌至 89.165的低点。此后，该指数不断创出更高的低点和更高的高点，突破了 2022年 5月的关键技术阻力位。ICE美元指数期货合约（条形图）图表显示美元指数在 9月1日达到 110.260高点的技术突破。该指数上一次超过 110是在 2002年。它在 9月 2日星期五收于 109.510，并在 9月星期一创下新高。美联储仍致力于对抗通胀美国货币政策是过去几个月点燃美元看涨导火索并将其推至二十年来最好水平的因素之一。最近在怀俄明州杰克逊霍尔举行的年度会议上，美联储主席杰罗姆鲍威尔和其他美联储经济学家重申了他们通过提高利率来对抗通胀的鹰派承诺。市场预测美联储在即将举行的 9月 FOMC会议上将联邦基金利率上调50甚至 75个基点。欧元的看跌趋势与此同时，欧洲战争为美元创造了一个几乎完美的基本面看涨案例，这给欧元带来了巨大压力。自欧元兑美元以平价交易以来，已经过去了 20年。欧元兑美元汇率自 2021年初以来稳步下跌后，于 9月 5日跌破平价。欧元兑美元货币对（条形图）该图表显示了欧元兑美元自 2021年 1月初跌至 1.2349美元、9月 5日触及近期低点 0.98785美元以来的最小阻力路径。UUP是看涨美元指数ETF产品美元指数中风险头寸的最直接途径是通过洲际交易所 ( ICE )的期货合约。对于那些不希望涉足期货市场或全球场外外汇市场的情况下参与美元上涨的人来说，Invesco DB美元指数看涨基金随着指数的上涨。UUP的看跌对手 UDN产品则相反。在 9月 2日每股 29.38美元的水平上，UUP管理的资产为 20.51亿美元。该基金平均每天交易超过 390万股，并收取 0.78%的管理费。17.52美元的看跌 UDN产品管理着 7188.4万美元的资产。UDN平均每天交易 141,895股，费用率为 0.77%。美元指数从 2021年初的 89.165升至 2022年 9月 1日的 109.980，涨幅为 23.3%。UUP牛市美元指数ETF产品图表（条形图）同期，UUP从每股 24.09美元上涨至 29.47美元，涨幅为 22.3%。同期看跌的 UDN产品从每股 21.91美元跌至 17.49美元，跌幅为 20.2%。UUP和 UDN产品在跟踪美元指数的上下波动方面表现出色。UUP和 UDN仅在美国股市运行期间交易，因此它们可能会错过美国股市交易时间以外的高点或低点。美元指数在 9月 5日星期一美国劳动节假期创下 20年来新高，当时 UUP和 UDN无法交易。截至 2022年 9月上旬，美元指数走势依然走高。虽然看涨趋势很少直线移动，并且偶尔修正的可能性随着水平的增加而增加，但美元仍然是世界上最强劲的法定储备货币，美国利率上升和欧洲地缘政治动荡为美元的上涨趋势提供支持。如果美联储继续暴力加息遏制通胀，而你的投资组合里面包含大量股票和商品债券，可以考虑UUP对冲投资风险。美元指数走高的潜在障碍是欧洲敌对行动的结束和美联储为应对日益加剧的衰退压力而转变货币政策。","news_type":1,"symbols_score_info":{"UDN":0.9,"UUP":0.9,"QQQ":0.9}},"isVote":1,"tweetType":1,"viewCount":2747,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938707190,"gmtCreate":1662674306310,"gmtModify":1676537112429,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938707190","repostId":"1124805025","repostType":4,"repost":{"id":"1124805025","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1662624142,"share":"https://ttm.financial/m/news/1124805025?lang=en_US&edition=fundamental","pubTime":"2022-09-08 16:02","market":"us","language":"zh","title":"Change | Two good blessings! Game Station rose more than 11% premarket","url":"https://stock-news.laohu8.com/highlight/detail?id=1124805025","media":"老虎资讯综合","summary":"9月8日，美股指期货小幅走低，道指期货跌0.16%，纳指期货跌0.2%，标普500指数期货跌0.18%。热门中概股盘前走低，网易、小鹏汽车跌超3%，理想汽车跌近3%，贝壳跌2.5%，阿里巴巴跌近2%；","content":"<p><html><head></head><body>On September 8th, US stock index futures fell slightly, with Dow futures falling by 0.16%, Nasdaq futures falling by 0.2% and S&P 500 futures falling by 0.18%.</p><p><img src=\"https://static.tigerbbs.com/5ecf989e562a3ae30178b99074a91a48\" tg-width=\"386\" tg-height=\"191\" referrerpolicy=\"no-referrer\"/></p><p>Popular Chinese stocks fell before the market,<a href=\"https://laohu8.com/S/NTES\">Netease</a>、<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It fell nearly 3%,<a href=\"https://laohu8.com/S/BEKE\">Shell</a>down 2.5%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>down nearly 2%;</p><p><a href=\"https://laohu8.com/S/GME\">Game Station</a>It rose by more than 11% before the market, and recorded a net loss of 108.7 million USD in Q2, which was better than expected. The company reached a cooperation with cryptocurrency exchange FTX;</p><p><a href=\"https://laohu8.com/S/GSAT\">Global Star</a>It rose more than 5% before the market, providing satellite communication services for iPhone14;</p><p><a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It rose by nearly 2% before the market, turned losses into profits in the second quarter, and achieved adjusted profits for three consecutive quarters;</p><p><a href=\"https://laohu8.com/S/FSLR\">First Solar</a>It rose nearly 4% before the market,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Upgraded it two notches in a row to Buy, significantly raising its price target to $172.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Change | Two good blessings! Game Station rose more than 11% premarket</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChange | Two good blessings! Game Station rose more than 11% premarket\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-09-08 16:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On September 8th, US stock index futures fell slightly, with Dow futures falling by 0.16%, Nasdaq futures falling by 0.2% and S&P 500 futures falling by 0.18%.</p><p><img src=\"https://static.tigerbbs.com/5ecf989e562a3ae30178b99074a91a48\" tg-width=\"386\" tg-height=\"191\" referrerpolicy=\"no-referrer\"/></p><p>Popular Chinese stocks fell before the market,<a href=\"https://laohu8.com/S/NTES\">Netease</a>、<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It fell nearly 3%,<a href=\"https://laohu8.com/S/BEKE\">Shell</a>down 2.5%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>down nearly 2%;</p><p><a href=\"https://laohu8.com/S/GME\">Game Station</a>It rose by more than 11% before the market, and recorded a net loss of 108.7 million USD in Q2, which was better than expected. The company reached a cooperation with cryptocurrency exchange FTX;</p><p><a href=\"https://laohu8.com/S/GSAT\">Global Star</a>It rose more than 5% before the market, providing satellite communication services for iPhone14;</p><p><a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It rose by nearly 2% before the market, turned losses into profits in the second quarter, and achieved adjusted profits for three consecutive quarters;</p><p><a href=\"https://laohu8.com/S/FSLR\">First Solar</a>It rose nearly 4% before the market,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Upgraded it two notches in a row to Buy, significantly raising its price target to $172.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fd680cd945fd32917c8ece66ec685e5f","relate_stocks":{"GME":"游戏驿站","BK4076":"电脑与电子产品零售","BK4577":"网络游戏","BK4547":"WSB热门概念"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124805025","content_text":"9月8日，美股指期货小幅走低，道指期货跌0.16%，纳指期货跌0.2%，标普500指数期货跌0.18%。热门中概股盘前走低，网易、小鹏汽车跌超3%，理想汽车跌近3%，贝壳跌2.5%，阿里巴巴跌近2%；游戏驿站盘前涨超11%，Q2录得净亏损1.087亿美元好于预期，公司与加密货币交易所FTX达成合作；全球星盘前涨超5%，为iPhone14提供卫星通信服务；高途盘前涨近2%，二季度经调业绩扭亏为盈，连续三个季度实现经调盈利；第一太阳能盘前涨近4%，高盛将其评级连升两级至买入，大幅上调目标价至172美元。","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":2733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938704714,"gmtCreate":1662674292339,"gmtModify":1676537112421,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938704714","repostId":"1107067060","repostType":4,"repost":{"id":"1107067060","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1662626319,"share":"https://ttm.financial/m/news/1107067060?lang=en_US&edition=fundamental","pubTime":"2022-09-08 16:38","market":"sh","language":"zh","title":"Market Overview | Tencent was reduced by major shareholders, and tourism stocks became a new hot spot","url":"https://stock-news.laohu8.com/highlight/detail?id=1107067060","media":"老虎资讯综合","summary":"恒生指数跌1%失守19000点。","content":"<p><html><head></head><body><b>Hong Kong stock</b></p><p>Today, the three major indices of Hong Kong stocks accelerated in the afternoon. The Hang Seng Index fell by 1% to 19,000 points, and the H-SH Index fell by 1.18%. Both recorded six consecutive losses, and the Hang Seng Technology Index fell by 1%, which also fell below the 4,000-point integer mark. All three major indices refreshed their low prices.</p><p><img src=\"https://static.tigerbbs.com/da7032bb707f39db3c893a48cc933ea1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Mainland property developer stocks fell,<a href=\"https://laohu8.com/S/00884\">CIFI HOLDINGS Group</a>down 13.59%,<a href=\"https://laohu8.com/S/03383\">AGILE GROUP</a>down 7.12%,<a href=\"https://laohu8.com/S/02007\">Country Garden</a>down 6.78%,<a href=\"https://laohu8.com/S/00960\">LONGFOR GROUP</a>down 1.13%,<a href=\"https://laohu8.com/S/01109\">China Resources Land</a>down 1.53%, but<a href=\"https://laohu8.com/S/03900\">Greentown China</a>up 1.24%. previously<a href=\"https://laohu8.com/S/01918\">Sunac China</a>The sudden \"liquidation petition\", which Sunac said was a radical behavior of a single creditor, did not affect the company's operation and debt restructuring.</p><p>Oil stocks were among the top losers,<a href=\"https://laohu8.com/S/02883\">CNOOC Oilfield Services</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/00883\">CNOOC</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/PTR\">PetroChina</a>It fell by more than 1%,<a href=\"https://laohu8.com/S/SNP\">Sinopec</a>Follow the fall.</p><p>Auto stocks are lower,<a href=\"https://laohu8.com/S/02333\">Great Wall Motors</a>Down nearly 5%,<a href=\"https://laohu8.com/S/00175\">Geely Automobile</a>、<a href=\"https://laohu8.com/S/01211\">BYD Shares</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/02015\">Li Auto-W.</a>down 2.96%,<a href=\"https://laohu8.com/S/09868\">XPeng Motors-W</a>down 2.64%,<a href=\"https://laohu8.com/S/09866\">Nio-SW</a>Hong Kong stocks fell 0.87%.</p><p>Power stocks exploded,<a href=\"https://laohu8.com/S/01798\">Datang New Energy</a>Up more than 10%,<a href=\"https://laohu8.com/S/00902\">Huaneng Power International</a>Over 6%, China Resources Power rose over 5%,<a href=\"https://laohu8.com/S/02380\">China Power</a>It rose by more than 3%.</p><p><img src=\"https://static.tigerbbs.com/8c608cf5a6c51e99a76ec330cd4dcf6b\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>The semiconductor sector pulled up,<a href=\"https://laohu8.com/S/02878\">Gate semiconductor</a>rose by more than 8%,<a href=\"https://laohu8.com/S/01385\">Shanghai Fudan</a>rose by more than 7%,<a href=\"https://laohu8.com/S/06908\">Hongguang Semiconductor</a>Wait for it to rise.</p><p>Travel stocks are active,<a href=\"https://laohu8.com/S/00487\">Shide Global</a>It rose by more than 14%,<a href=\"https://laohu8.com/S/08069\">Zonghengyou Holdings</a>Up more than 10%,<a href=\"https://laohu8.com/S/00234\">New Century Group</a>rose by more than 8%,<a href=\"https://laohu8.com/S/06882\">Eastern Japan Tour</a>It rose by more than 3%.</p><p><a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>It fell by more than 3%.<b>According to data from the CCASS system on September 7th, Tencent shareholders transferred 193 million shares (2%) to Hong Kong's central clearing system.</b><b>Such a move often means that the shareholders concerned will sell the shares.</b><b>It is worth noting that Naspers, the majority shareholder of Tencent South Africa, and Prosus, its flagship Internet investment, announced at the end of June this year that they would reduce their holdings of Tencent without an upper limit to cash out to support their own repurchase.</b></p><p><img src=\"https://static.tigerbbs.com/6c35ca80d5cbd52bad8f7d15449ac7c9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>A Shares</b></p><p>On September 8th, the three major A-share indexes fell together. The Shanghai Composite Index fluctuated within a narrow range in early trading, and continued to fall in the afternoon. It closed down 0.33% to 3,235 points throughout the day, and the Shenzhen Component Index fell 0.86%.<a href=\"https://laohu8.com/S/300750\">CATL</a>The impact fell by 1.86%. The turnover of the two cities was 788 billion yuan, and the net sale of northbound funds was 86 million yuan, which was the sixth consecutive day of net sale.</p><p><img src=\"https://static.tigerbbs.com/df7a4905a8d12acf6ebde0b7d9355988\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Gas concept was among the top decliners.<a href=\"https://laohu8.com/S/000593\">Delong Huineng</a>、<a href=\"https://laohu8.com/S/605090\">JOVO ENERGY</a>、<a href=\"https://laohu8.com/S/000421\">Nanjing Public Utilities</a>Falling limit,<a href=\"https://laohu8.com/S/605169\">Hongtong Gas</a>、<a href=\"https://laohu8.com/S/603318\">Water-generated gas</a>、<a href=\"https://laohu8.com/S/300483\">Shouhua Gas</a>、<a href=\"https://laohu8.com/S/603706\">Oriental Universe</a>Wait for the fall. On the news, the European Union will propose to impose restrictions on Russian natural gas prices to cut Russia's fiscal revenue.</p><p>Oil stocks are lower,<a href=\"https://laohu8.com/S/600777\">Xinchao Energy</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/600938\">CNOOC</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/000968\">Blue Flame Holdings</a>、<a href=\"https://laohu8.com/S/600759\">ST Intercontinental</a>Follow the fall. International oil prices plummeted on Wednesday, and investors further looked down on the prospect of oil demand.</p><p>The concept of lithium battery oscillates downward,<a href=\"https://laohu8.com/S/300750\">CATL</a>fell by more than 5%,<a href=\"https://laohu8.com/S/300014\">Yiwei Lithium Energy</a>、<a href=\"https://laohu8.com/S/002812\">Enjie Shares</a>、<a href=\"https://laohu8.com/S/603799\">Huayou Cobalt</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/002466\">Tianqi Lithium</a>、<a href=\"https://laohu8.com/S/002460\">Ganfeng Lithium</a>Wait for the fall. Although the arrival of the peak season has driven the lithium price to continue to rise, market investors are increasingly afraid of high prices, and they are generally worried about the sustainability of lithium prices.</p><p><img src=\"https://static.tigerbbs.com/456632ef74a94758e63b817b5745073a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Precious metal concepts were among the top gainers.<a href=\"https://laohu8.com/S/000975\">Yintai Gold</a>rose by more than 8%,<a href=\"https://laohu8.com/S/002155\">Hunan Gold</a>Up more than 5%,<a href=\"https://laohu8.com/S/601069\">Western Gold</a>、<a href=\"https://laohu8.com/S/300139\">Xiaocheng Technology</a>Wait for it to rise.</p><p>The concept of hotel catering has soared,<a href=\"https://laohu8.com/S/605108\">Tongqing Building</a>rose by more than 8%,<a href=\"https://laohu8.com/S/301073\">Grand Pavilion Hotel</a>rose by more than 6%,<a href=\"https://laohu8.com/S/000610\">Xi'an Tourism</a>rose by more than 4%,<a href=\"https://laohu8.com/S/000721\">Xi'an Diet</a>、<a href=\"https://laohu8.com/S/600258\">BTG Hotel</a>Wait for it to rise.<a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>It is pointed out that the stability of the service consumption industry chain is enhanced under the controllable epidemic situation, and we are optimistic about the flexibility of performance recovery after the epidemic situation stabilizes.</p><p>The concepts of tourism, scenic spots and aviation airports have strengthened collectively,<a href=\"https://laohu8.com/S/000978\">Guilin Tourism</a>daily limit,<a href=\"https://laohu8.com/S/300144\">Songcheng Performing Arts</a>Changchao, Shanghai Airport,<a href=\"https://laohu8.com/S/600004\">Baiyun Airport</a>It rose by more than 3%. In the past week, the reservations of local hotels in the Mid-Autumn Festival increased by more than 1.7 times compared with the previous week, and the reservations of vacation products such as tickets to local scenic spots increased by more than 2.3 times.</p><p><b>U.S. stocks</b></p><p>U.S. stock index futures edged lower. Markets pay attention to tonight's speech by Federal Reserve Chairman Powell.<img src=\"https://static.tigerbbs.com/66e5b70e89326d37ecea79cf90b92a89\" tg-width=\"768\" tg-height=\"263\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It rose by more than 3% before the market, and in the second quarter, the adjusted performance turned losses into profits, achieving adjusted profits for three consecutive quarters.</p><p>Some Chinese stocks fell,<a href=\"https://laohu8.com/S/NTES\">Netease</a>Down 3%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>down 2.8%,<a href=\"https://laohu8.com/S/BEKE\">Shell</a>down 1.91%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>down 1.76%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>down 1.66%.</p><p><a href=\"https://laohu8.com/S/GME\">Game Station</a>It rose by more than 9% before the market, and Q2 recorded a net loss of $108.7 million, which was better than expected. The company reached a cooperation with cryptocurrency exchange FTX.</p><p><a href=\"https://laohu8.com/S/GSAT\">Global Star</a>It rose 5% premarket to provide satellite communication services for iPhone14.</p><p><b>Commodities</b></p><p>International oil prices fluctuated. The rate hike of central banks in the world's major economies continues to be bearish on oil markets, despite investors' concerns that fuel supplies may become increasingly tight due to the deep energy stalemate between Europe and Russia.</p><p><img src=\"https://static.tigerbbs.com/4bb4cc5dc5ad544c506b4d4ee15c15c4\" tg-width=\"881\" tg-height=\"536\" referrerpolicy=\"no-referrer\"/></p><p>International gold prices fluctuated within a narrow range. The market is still watching the Fed's policy movements.</p><p><img src=\"https://static.tigerbbs.com/ba902eeb61755d05811fbde98b0d30e5\" tg-width=\"1020\" tg-height=\"563\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Overview | Tencent was reduced by major shareholders, and tourism stocks became a new hot spot</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Overview | Tencent was reduced by major shareholders, and tourism stocks became a new hot spot\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-09-08 16:38</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>Hong Kong stock</b></p><p>Today, the three major indices of Hong Kong stocks accelerated in the afternoon. The Hang Seng Index fell by 1% to 19,000 points, and the H-SH Index fell by 1.18%. Both recorded six consecutive losses, and the Hang Seng Technology Index fell by 1%, which also fell below the 4,000-point integer mark. All three major indices refreshed their low prices.</p><p><img src=\"https://static.tigerbbs.com/da7032bb707f39db3c893a48cc933ea1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Mainland property developer stocks fell,<a href=\"https://laohu8.com/S/00884\">CIFI HOLDINGS Group</a>down 13.59%,<a href=\"https://laohu8.com/S/03383\">AGILE GROUP</a>down 7.12%,<a href=\"https://laohu8.com/S/02007\">Country Garden</a>down 6.78%,<a href=\"https://laohu8.com/S/00960\">LONGFOR GROUP</a>down 1.13%,<a href=\"https://laohu8.com/S/01109\">China Resources Land</a>down 1.53%, but<a href=\"https://laohu8.com/S/03900\">Greentown China</a>up 1.24%. previously<a href=\"https://laohu8.com/S/01918\">Sunac China</a>The sudden \"liquidation petition\", which Sunac said was a radical behavior of a single creditor, did not affect the company's operation and debt restructuring.</p><p>Oil stocks were among the top losers,<a href=\"https://laohu8.com/S/02883\">CNOOC Oilfield Services</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/00883\">CNOOC</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/PTR\">PetroChina</a>It fell by more than 1%,<a href=\"https://laohu8.com/S/SNP\">Sinopec</a>Follow the fall.</p><p>Auto stocks are lower,<a href=\"https://laohu8.com/S/02333\">Great Wall Motors</a>Down nearly 5%,<a href=\"https://laohu8.com/S/00175\">Geely Automobile</a>、<a href=\"https://laohu8.com/S/01211\">BYD Shares</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/02015\">Li Auto-W.</a>down 2.96%,<a href=\"https://laohu8.com/S/09868\">XPeng Motors-W</a>down 2.64%,<a href=\"https://laohu8.com/S/09866\">Nio-SW</a>Hong Kong stocks fell 0.87%.</p><p>Power stocks exploded,<a href=\"https://laohu8.com/S/01798\">Datang New Energy</a>Up more than 10%,<a href=\"https://laohu8.com/S/00902\">Huaneng Power International</a>Over 6%, China Resources Power rose over 5%,<a href=\"https://laohu8.com/S/02380\">China Power</a>It rose by more than 3%.</p><p><img src=\"https://static.tigerbbs.com/8c608cf5a6c51e99a76ec330cd4dcf6b\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>The semiconductor sector pulled up,<a href=\"https://laohu8.com/S/02878\">Gate semiconductor</a>rose by more than 8%,<a href=\"https://laohu8.com/S/01385\">Shanghai Fudan</a>rose by more than 7%,<a href=\"https://laohu8.com/S/06908\">Hongguang Semiconductor</a>Wait for it to rise.</p><p>Travel stocks are active,<a href=\"https://laohu8.com/S/00487\">Shide Global</a>It rose by more than 14%,<a href=\"https://laohu8.com/S/08069\">Zonghengyou Holdings</a>Up more than 10%,<a href=\"https://laohu8.com/S/00234\">New Century Group</a>rose by more than 8%,<a href=\"https://laohu8.com/S/06882\">Eastern Japan Tour</a>It rose by more than 3%.</p><p><a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>It fell by more than 3%.<b>According to data from the CCASS system on September 7th, Tencent shareholders transferred 193 million shares (2%) to Hong Kong's central clearing system.</b><b>Such a move often means that the shareholders concerned will sell the shares.</b><b>It is worth noting that Naspers, the majority shareholder of Tencent South Africa, and Prosus, its flagship Internet investment, announced at the end of June this year that they would reduce their holdings of Tencent without an upper limit to cash out to support their own repurchase.</b></p><p><img src=\"https://static.tigerbbs.com/6c35ca80d5cbd52bad8f7d15449ac7c9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>A Shares</b></p><p>On September 8th, the three major A-share indexes fell together. The Shanghai Composite Index fluctuated within a narrow range in early trading, and continued to fall in the afternoon. It closed down 0.33% to 3,235 points throughout the day, and the Shenzhen Component Index fell 0.86%.<a href=\"https://laohu8.com/S/300750\">CATL</a>The impact fell by 1.86%. The turnover of the two cities was 788 billion yuan, and the net sale of northbound funds was 86 million yuan, which was the sixth consecutive day of net sale.</p><p><img src=\"https://static.tigerbbs.com/df7a4905a8d12acf6ebde0b7d9355988\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Gas concept was among the top decliners.<a href=\"https://laohu8.com/S/000593\">Delong Huineng</a>、<a href=\"https://laohu8.com/S/605090\">JOVO ENERGY</a>、<a href=\"https://laohu8.com/S/000421\">Nanjing Public Utilities</a>Falling limit,<a href=\"https://laohu8.com/S/605169\">Hongtong Gas</a>、<a href=\"https://laohu8.com/S/603318\">Water-generated gas</a>、<a href=\"https://laohu8.com/S/300483\">Shouhua Gas</a>、<a href=\"https://laohu8.com/S/603706\">Oriental Universe</a>Wait for the fall. On the news, the European Union will propose to impose restrictions on Russian natural gas prices to cut Russia's fiscal revenue.</p><p>Oil stocks are lower,<a href=\"https://laohu8.com/S/600777\">Xinchao Energy</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/600938\">CNOOC</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/000968\">Blue Flame Holdings</a>、<a href=\"https://laohu8.com/S/600759\">ST Intercontinental</a>Follow the fall. International oil prices plummeted on Wednesday, and investors further looked down on the prospect of oil demand.</p><p>The concept of lithium battery oscillates downward,<a href=\"https://laohu8.com/S/300750\">CATL</a>fell by more than 5%,<a href=\"https://laohu8.com/S/300014\">Yiwei Lithium Energy</a>、<a href=\"https://laohu8.com/S/002812\">Enjie Shares</a>、<a href=\"https://laohu8.com/S/603799\">Huayou Cobalt</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/002466\">Tianqi Lithium</a>、<a href=\"https://laohu8.com/S/002460\">Ganfeng Lithium</a>Wait for the fall. Although the arrival of the peak season has driven the lithium price to continue to rise, market investors are increasingly afraid of high prices, and they are generally worried about the sustainability of lithium prices.</p><p><img src=\"https://static.tigerbbs.com/456632ef74a94758e63b817b5745073a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Precious metal concepts were among the top gainers.<a href=\"https://laohu8.com/S/000975\">Yintai Gold</a>rose by more than 8%,<a href=\"https://laohu8.com/S/002155\">Hunan Gold</a>Up more than 5%,<a href=\"https://laohu8.com/S/601069\">Western Gold</a>、<a href=\"https://laohu8.com/S/300139\">Xiaocheng Technology</a>Wait for it to rise.</p><p>The concept of hotel catering has soared,<a href=\"https://laohu8.com/S/605108\">Tongqing Building</a>rose by more than 8%,<a href=\"https://laohu8.com/S/301073\">Grand Pavilion Hotel</a>rose by more than 6%,<a href=\"https://laohu8.com/S/000610\">Xi'an Tourism</a>rose by more than 4%,<a href=\"https://laohu8.com/S/000721\">Xi'an Diet</a>、<a href=\"https://laohu8.com/S/600258\">BTG Hotel</a>Wait for it to rise.<a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>It is pointed out that the stability of the service consumption industry chain is enhanced under the controllable epidemic situation, and we are optimistic about the flexibility of performance recovery after the epidemic situation stabilizes.</p><p>The concepts of tourism, scenic spots and aviation airports have strengthened collectively,<a href=\"https://laohu8.com/S/000978\">Guilin Tourism</a>daily limit,<a href=\"https://laohu8.com/S/300144\">Songcheng Performing Arts</a>Changchao, Shanghai Airport,<a href=\"https://laohu8.com/S/600004\">Baiyun Airport</a>It rose by more than 3%. In the past week, the reservations of local hotels in the Mid-Autumn Festival increased by more than 1.7 times compared with the previous week, and the reservations of vacation products such as tickets to local scenic spots increased by more than 2.3 times.</p><p><b>U.S. stocks</b></p><p>U.S. stock index futures edged lower. Markets pay attention to tonight's speech by Federal Reserve Chairman Powell.<img src=\"https://static.tigerbbs.com/66e5b70e89326d37ecea79cf90b92a89\" tg-width=\"768\" tg-height=\"263\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It rose by more than 3% before the market, and in the second quarter, the adjusted performance turned losses into profits, achieving adjusted profits for three consecutive quarters.</p><p>Some Chinese stocks fell,<a href=\"https://laohu8.com/S/NTES\">Netease</a>Down 3%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>down 2.8%,<a href=\"https://laohu8.com/S/BEKE\">Shell</a>down 1.91%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>down 1.76%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>down 1.66%.</p><p><a href=\"https://laohu8.com/S/GME\">Game Station</a>It rose by more than 9% before the market, and Q2 recorded a net loss of $108.7 million, which was better than expected. The company reached a cooperation with cryptocurrency exchange FTX.</p><p><a href=\"https://laohu8.com/S/GSAT\">Global Star</a>It rose 5% premarket to provide satellite communication services for iPhone14.</p><p><b>Commodities</b></p><p>International oil prices fluctuated. The rate hike of central banks in the world's major economies continues to be bearish on oil markets, despite investors' concerns that fuel supplies may become increasingly tight due to the deep energy stalemate between Europe and Russia.</p><p><img src=\"https://static.tigerbbs.com/4bb4cc5dc5ad544c506b4d4ee15c15c4\" tg-width=\"881\" tg-height=\"536\" referrerpolicy=\"no-referrer\"/></p><p>International gold prices fluctuated within a narrow range. The market is still watching the Fed's policy movements.</p><p><img src=\"https://static.tigerbbs.com/ba902eeb61755d05811fbde98b0d30e5\" tg-width=\"1020\" tg-height=\"563\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5d11890cd6ccd454a56d86737fd3353","relate_stocks":{"000001.SH":"上证指数","HSI":"恒生指数"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107067060","content_text":"港股今日，港股三大指数午后加速下行，恒指跌1%失守19000点，国指跌1.18%，二者录得6连跌，恒生科技指数跌1%，亦跌破4000点整数关，三大指数皆刷新阶段低价。内地房地产发展商股下跌，旭辉控股集团跌13.59%，雅居乐集团跌7.12%，碧桂园跌6.78%，龙湖集团跌1.13%，华润置地跌1.53%，不过绿城中国涨1.24%。此前融创中国突遭“清盘呈请”，对此融创称此系单个债权人的激进行为，不影响公司经营和债务重组推进。石油股跌幅居前，中海油田服务跌超4%，中国海洋石油跌超3%，中石油跌超1%，中石化跟跌。汽车股走低，长城汽车跌近5%，吉利汽车、比亚迪股份跌超3%，理想汽车-W跌2.96%，小鹏汽车-W跌2.64%，蔚来-SW港股跌0.87%。电力股爆发，大唐新能源涨超10%，华能国际电力股份涨超6%，华润电力涨超5%，中国电力涨超3%。半导体板块拉升，晶门半导体涨超8%，上海复旦涨超7%，宏光半导体等跟涨。旅游股表现活跃，实德环球涨超14%，纵横游控股涨超10%，新世纪集团涨超8%，东瀛游涨超3%。腾讯控股跌超3%。据CCASS系统9月7日的数据显示，腾讯股东将1.93亿股(2%)股份转入了香港的中央结算系统。此举往往意味着有关股东将出售这些股票。值得注意的是，腾讯南非大股东Naspers及旗下互联网投资旗舰Prosus今年6月底宣布，会无上限减持腾讯以套现支持自身回购。A股9月8日，A股三大指数齐跌，沪指早盘窄幅震荡，午后持续走低，全天收跌0.33%报3235点，深成指跌0.86%，创业板指受宁德时代影响跌1.86%。两市成交额7880亿，北上资金净卖出8600万，为连续第6天净卖出。燃气概念跌幅居前。德龙汇能、九丰能源、南京公用跌停，洪通燃气、水发燃气、首华燃气、东方环宇等跟跌。消息面上，欧盟将提议对俄罗斯天然气价格实施限制，以削减俄罗斯的财政收入。石油股走低，新潮能源跌超4%，中国海油跌超3%，蓝焰控股、ST洲际跟跌。周三国际油价大跌，投资者进一步看衰石油需求前景。锂电池概念震荡下行，宁德时代跌超5%，亿纬锂能、恩捷股份、华友钴业跌超3%，天齐锂业、赣锋锂业等跟跌。虽然旺季来临带动锂价继续探涨，但市场投资者畏高情绪愈发蔓延，普遍担忧锂价可持续性。贵金属概念涨幅居前。银泰黄金涨超8%，湖南黄金涨超5%，西部黄金、晓程科技等跟涨。酒店餐饮概念大涨，同庆楼涨超8%，君亭酒店涨超6%，西安旅游涨超4%，西安饮食、首旅酒店等跟涨。东吴证券指出，疫情可控下服务消费产业链稳定性增强，看好疫情趋稳后业绩弹性恢复。旅游及景区、航空机场概念集体走强，桂林旅游涨停，宋城演艺涨超、上海机场、白云机场涨超3%。近一周，中秋本地酒店预订量比前一周增长超1.7倍，本地景区门票等度假产品预订量增超2.3倍。美股美股指期货小幅走低。市场关注今晚美联储主席鲍威尔的讲话。高途盘前涨超3%，二季度经调业绩扭亏为盈，连续三个季度实现经调盈利。部分中概股走低，网易跌3%、小鹏汽车跌2.8%，贝壳跌1.91%，理想汽车跌1.76%，阿里巴巴跌1.66%。游戏驿站盘前涨超9%，Q2录得净亏损1.087亿美元好于预期，公司与加密货币交易所FTX达成合作。全球星盘前涨5%，为iPhone14提供卫星通信服务。大宗商品国际油价震荡。尽管由于欧洲和俄罗斯之间深陷能源僵局，投资者担心燃料供应可能会变得愈发紧张，但全球主要经济体央行加息继续利空油市。国际金价窄幅震荡。市场仍在观察美联储政策动向。","news_type":1,"symbols_score_info":{"HSI":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":3116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938704225,"gmtCreate":1662674277367,"gmtModify":1676537112414,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938704225","repostId":"1196569367","repostType":4,"repost":{"id":"1196569367","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1662639329,"share":"https://ttm.financial/m/news/1196569367?lang=en_US&edition=fundamental","pubTime":"2022-09-08 20:15","market":"other","language":"zh","title":"ECB Announces rate hike of 75 bps, in line with market expectations","url":"https://stock-news.laohu8.com/highlight/detail?id=1196569367","media":"老虎资讯综合","summary":"9月8日，欧洲央行将三大主要利率均上调75个基点，符合市场预期，为1999年来首次大幅加息75个基点。欧洲央行将存款利率上调至0.750%，将基准利率上调至1.250%，将边际贷款利率上调到1.5%。","content":"<p><html><head></head><body>On Sept. 8, the European Central Bank raised all three major interest rates by 75 basis points, in line with market expectations, marking the first sharp 75 basis point rate hike since 1999. The ECB raised the deposit rate to 0.750%, the benchmark rate to 1.250% and the marginal lending rate to 1.5%.</p><p>After the European Central Bank announced the interest rate decision, the euro rose by more than 20 points against the US dollar in the short term, and it is now reported at 1.0028; Germany's Treasury Bond falls, two-year Treasury Bond yields up 3 basis points; Italian and German 10-year Treasury Bond yield spreads narrowed to 221 basis points.</p><p>The ECB noted that the rate hike 75 basis points heralded a transition from the current level of highly accommodative policy interest rates to levels that ensured inflation could return to the ECB's medium-term target of 2% in time. But inflation remains too high and is likely to stay above the target for a long time; At next few meetings, the management committee is expected to raise interest rates further to curb demand.</p><p>According to the latest monetary policy resolution, the reinvestment of the ECB's Emergency Anti-epidemic Bond Purchase Programme (PEPP) will continue until at least the end of 2024 to cope with the risk of monetary policy transmission mechanism triggered by COVID-19. Furthermore, the ECB expects further rate hike at the next few meetings.</p><p>Inflation hit 9.1pc in August, according to preliminary estimates from Eurostat. Surging energy and food prices, demand pressures in certain sectors due to the reopening of the economy, and supply bottlenecks are still driving up inflation. Price pressures continue to strengthen and expand across the economy, and inflation is likely to rise further in the near term. Inflation will fall as the current drivers of inflation fade over time, the impact of monetary policy normalization on the economy and price setting.</p><p>Looking ahead to the economy, the ECB has raised its 2022 GDP growth forecast, forecasting a GDP growth rate of 3.1% in 2022. However, it lowered its 2023 and 2024 GDP growth forecast, which is expected to be 0.9% in 2023 and 1.9% in 2024.</p><p>The ECB also raised its inflation forecasts for 2022, 2023 and 2024, forecasting a CPI of 8.1% in 2022, 5.5% in 2023 and 2.3 in 2024.</p><p>After a rebound in the first half of 2022, recent data showed a sharp slowdown in eurozone economic growth, with the economy expected to grind to a halt later this year and in the first quarter of 2023. Analysts pointed out that the European Central Bank once again raised its euro zone inflation forecast and lowered its 2023 economic growth forecast, as the reduction of Russian natural gas supply will weigh on confidence, consumption and investment in the euro zone. The ECB has repeatedly underestimated inflation levels over the past two years, as real prices have risen more than even its most pessimistic expectations, raising questions about the credibility of these forecasts. The ECB expects inflation to be 2.3% in 2024, above its 2% target. Although inflation was initially driven by high energy prices, energy costs have begun to penetrate the broader economy, adding to potential price pressures.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ECB Announces rate hike of 75 bps, in line with market expectations</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nECB Announces rate hike of 75 bps, in line with market expectations\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-09-08 20:15</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On Sept. 8, the European Central Bank raised all three major interest rates by 75 basis points, in line with market expectations, marking the first sharp 75 basis point rate hike since 1999. The ECB raised the deposit rate to 0.750%, the benchmark rate to 1.250% and the marginal lending rate to 1.5%.</p><p>After the European Central Bank announced the interest rate decision, the euro rose by more than 20 points against the US dollar in the short term, and it is now reported at 1.0028; Germany's Treasury Bond falls, two-year Treasury Bond yields up 3 basis points; Italian and German 10-year Treasury Bond yield spreads narrowed to 221 basis points.</p><p>The ECB noted that the rate hike 75 basis points heralded a transition from the current level of highly accommodative policy interest rates to levels that ensured inflation could return to the ECB's medium-term target of 2% in time. But inflation remains too high and is likely to stay above the target for a long time; At next few meetings, the management committee is expected to raise interest rates further to curb demand.</p><p>According to the latest monetary policy resolution, the reinvestment of the ECB's Emergency Anti-epidemic Bond Purchase Programme (PEPP) will continue until at least the end of 2024 to cope with the risk of monetary policy transmission mechanism triggered by COVID-19. Furthermore, the ECB expects further rate hike at the next few meetings.</p><p>Inflation hit 9.1pc in August, according to preliminary estimates from Eurostat. Surging energy and food prices, demand pressures in certain sectors due to the reopening of the economy, and supply bottlenecks are still driving up inflation. Price pressures continue to strengthen and expand across the economy, and inflation is likely to rise further in the near term. Inflation will fall as the current drivers of inflation fade over time, the impact of monetary policy normalization on the economy and price setting.</p><p>Looking ahead to the economy, the ECB has raised its 2022 GDP growth forecast, forecasting a GDP growth rate of 3.1% in 2022. However, it lowered its 2023 and 2024 GDP growth forecast, which is expected to be 0.9% in 2023 and 1.9% in 2024.</p><p>The ECB also raised its inflation forecasts for 2022, 2023 and 2024, forecasting a CPI of 8.1% in 2022, 5.5% in 2023 and 2.3 in 2024.</p><p>After a rebound in the first half of 2022, recent data showed a sharp slowdown in eurozone economic growth, with the economy expected to grind to a halt later this year and in the first quarter of 2023. Analysts pointed out that the European Central Bank once again raised its euro zone inflation forecast and lowered its 2023 economic growth forecast, as the reduction of Russian natural gas supply will weigh on confidence, consumption and investment in the euro zone. The ECB has repeatedly underestimated inflation levels over the past two years, as real prices have risen more than even its most pessimistic expectations, raising questions about the credibility of these forecasts. The ECB expects inflation to be 2.3% in 2024, above its 2% target. Although inflation was initially driven by high energy prices, energy costs have begun to penetrate the broader economy, adding to potential price pressures.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e88583a358344177a7ed4d97145d67f4","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196569367","content_text":"9月8日，欧洲央行将三大主要利率均上调75个基点，符合市场预期，为1999年来首次大幅加息75个基点。欧洲央行将存款利率上调至0.750%，将基准利率上调至1.250%，将边际贷款利率上调到1.5%。欧洲央行公布利率决议后，欧元兑美元短线拉升逾20点，现报1.0028；德国国债下跌，两年期国债收益率上涨3个基点；意大利和德国10年期国债收益率利差收窄至221个基点。欧洲央行指出，加息75基点预示着从现行高度宽松的政策利率水平将向确保通胀能够及时回到欧洲央行2%的中期目标的水平过渡。但通胀率仍然太高，很可能在很长一段时间内保持在目标之上；在未来几次会议上，管理委员会预计将进一步提高利率，以抑制需求。根据最新的货币政策决议，欧洲央行紧急抗疫购债计划（PEPP）的再投资将至少持续至2024年末，以应对新冠引发的货币政策传导机制风险。此外，欧洲央行预期在未来几次会议上进一步加息。根据欧盟统计局的初步估计，8月份通胀率达到9.1%。能源和食品价格飙升、经济重新开放导致某些行业的需求压力以及供应瓶颈仍在推高通胀。整个经济体的价格压力继续加强和扩大，通胀可能在短期内进一步上升。随着当前通胀的驱动因素随着时间的推移而消退，货币政策正常化对经济和价格制定的影响，通胀将会下降。展望未来经济，欧洲央行上调2022年GDP增速预计，预计2022年GDP增速为3.1%。但下调2023年和2024年GDP增速预期，预计2023年GDP增速为0.9%，预计2024年GDP增速为1.9%。欧洲央行还上调2022年、2023年和2024年通胀预期，预计2022年CPI为8.1%，2023年CPI为5.5%，2024年CPI为2.3。在2022年上半年出现反弹后，近期数据显示欧元区经济增长大幅放缓，预计经济将在今年晚些时候和2023年第一季度陷入停滞。分析师指出，欧洲央行再次上调欧元区通胀预估，且下调2023年经济增长预估，因俄罗斯天然气供应减少将打压欧元区信心、消费和投资。过去两年，欧洲央行一再低估通胀水平，因为实际价格增幅甚至超过了其最悲观的预期，这让人对这些预测的可信度产生了质疑。欧洲央行预计2024年通胀预期为2.3%，高于2%的目标。尽管通胀最初是由能源价格高企推动的，但能源成本已开始渗透到更广泛的经济领域，加大了潜在的价格压力。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2538,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938704122,"gmtCreate":1662674261267,"gmtModify":1676537112406,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938704122","repostId":"1141251181","repostType":4,"repost":{"id":"1141251181","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1662643384,"share":"https://ttm.financial/m/news/1141251181?lang=en_US&edition=fundamental","pubTime":"2022-09-08 21:23","market":"other","language":"zh","title":"Powell: The Fed needs to act now to avoid the social cost of inflation","url":"https://stock-news.laohu8.com/highlight/detail?id=1141251181","media":"老虎资讯综合","summary":"9月8日，美联储主席鲍威尔今日参加卡托研究所举办的有关货币政策的会议。美联储主席鲍威尔会上表示，如果没有新冠疫情，不会看到如此高的通胀率。鲍威尔还表示，美联储认为需要直截了当地对通胀采取行动，美联储需","content":"<p><html><head></head><body>On September 8th, Federal Reserve Chairman Powell attended a meeting on monetary policy held by the Cato Institute today. Fed Chairman Powell said at the meeting that if it weren't for COVID, he wouldn't see such high inflation. Powell also said the Fed believes it needs to act straightforwardly on inflation, and the Fed needs to act now to avoid the social costs of inflation. Past experience warns against premature policy relaxation.</p><p><img src=\"https://static.tigerbbs.com/68709fd25713eefc3ea454c86f2bb7bd\" tg-width=\"536\" tg-height=\"302\" referrerpolicy=\"no-referrer\"/></p><p>Powell said the Fed needs to act now to avoid the social costs of inflation. The Fed has the responsibility and willingness to take responsibility for stabilizing prices. The longer inflation stays above target, the greater the risk. The Federal Reserve is firmly committed to bringing inflation down and will not be influenced by political factors. History cautions us against loosening our policies too soon.</p><p>Powell stressed that it is very important to maintain inflation expectations. The Fed's job is to make sure inflation expectations are anchored. Labor market demand remains very strong. Wage levels are rising. Hopefully there will be a period of slower-than-trend economic growth. Economic growth below trend levels will provide a better balance in the labor market. In recent labor market reports, an increase in the popular labor force participation rate has been seen.</p><p>On interest rates, Powell said the money supply-inflation relationship has been volatile. The Fed has never explicitly tied its policies to any particular formula. Not sure what the terminal rate is. Nominal income targets have been studied but do not think this is the right thing to do.</p><p>On shrinking balance sheet, he said that the current shrinking balance sheet operating framework is good, and that shrinking balance sheet is ready to be sized according to economic needs, and there is no reason to return to scarcity reserve levels. The two goals of the Fed are completely not in conflict. There's no reason to move to a single mission. Don't want the Fed's mandate to expand or narrow. The two main missions of the Federal Reserve can be achieved in the medium term. The independence of the Federal Reserve is good for the public.</p><p>Overnight index swaps show nearly 80% chance of a 75 basis point Fed rate hike in September; Futures for the three major U.S. stock indexes fell in the short term, with Nasdaq futures falling 0.74%.</p><p><img src=\"https://static.tigerbbs.com/811ceacf92cc009ba1c0ebf9ca4e013f\" tg-width=\"386\" tg-height=\"186\" referrerpolicy=\"no-referrer\"/></p><p>Analysts' Comments on Fed Chairman Powell's Speech: On the eve of the silent period, Powell did not provide any clues about whether the Fed's next rate hike action will be 50 basis points or 75 basis points. But after yesterday's Wall Street Journal article, interest rate markets have largely priced in 75 basis points of rate hike expectations. The fact that Powell did not object to the proposal suggests that there will almost certainly be another massive rate hike.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell: The Fed needs to act now to avoid the social cost of inflation</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell: The Fed needs to act now to avoid the social cost of inflation\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-09-08 21:23</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On September 8th, Federal Reserve Chairman Powell attended a meeting on monetary policy held by the Cato Institute today. Fed Chairman Powell said at the meeting that if it weren't for COVID, he wouldn't see such high inflation. Powell also said the Fed believes it needs to act straightforwardly on inflation, and the Fed needs to act now to avoid the social costs of inflation. Past experience warns against premature policy relaxation.</p><p><img src=\"https://static.tigerbbs.com/68709fd25713eefc3ea454c86f2bb7bd\" tg-width=\"536\" tg-height=\"302\" referrerpolicy=\"no-referrer\"/></p><p>Powell said the Fed needs to act now to avoid the social costs of inflation. The Fed has the responsibility and willingness to take responsibility for stabilizing prices. The longer inflation stays above target, the greater the risk. The Federal Reserve is firmly committed to bringing inflation down and will not be influenced by political factors. History cautions us against loosening our policies too soon.</p><p>Powell stressed that it is very important to maintain inflation expectations. The Fed's job is to make sure inflation expectations are anchored. Labor market demand remains very strong. Wage levels are rising. Hopefully there will be a period of slower-than-trend economic growth. Economic growth below trend levels will provide a better balance in the labor market. In recent labor market reports, an increase in the popular labor force participation rate has been seen.</p><p>On interest rates, Powell said the money supply-inflation relationship has been volatile. The Fed has never explicitly tied its policies to any particular formula. Not sure what the terminal rate is. Nominal income targets have been studied but do not think this is the right thing to do.</p><p>On shrinking balance sheet, he said that the current shrinking balance sheet operating framework is good, and that shrinking balance sheet is ready to be sized according to economic needs, and there is no reason to return to scarcity reserve levels. The two goals of the Fed are completely not in conflict. There's no reason to move to a single mission. Don't want the Fed's mandate to expand or narrow. The two main missions of the Federal Reserve can be achieved in the medium term. The independence of the Federal Reserve is good for the public.</p><p>Overnight index swaps show nearly 80% chance of a 75 basis point Fed rate hike in September; Futures for the three major U.S. stock indexes fell in the short term, with Nasdaq futures falling 0.74%.</p><p><img src=\"https://static.tigerbbs.com/811ceacf92cc009ba1c0ebf9ca4e013f\" tg-width=\"386\" tg-height=\"186\" referrerpolicy=\"no-referrer\"/></p><p>Analysts' Comments on Fed Chairman Powell's Speech: On the eve of the silent period, Powell did not provide any clues about whether the Fed's next rate hike action will be 50 basis points or 75 basis points. But after yesterday's Wall Street Journal article, interest rate markets have largely priced in 75 basis points of rate hike expectations. The fact that Powell did not object to the proposal suggests that there will almost certainly be another massive rate hike.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b37cbfdbd9fac06fc4ae2f84ad058a92","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141251181","content_text":"9月8日，美联储主席鲍威尔今日参加卡托研究所举办的有关货币政策的会议。美联储主席鲍威尔会上表示，如果没有新冠疫情，不会看到如此高的通胀率。鲍威尔还表示，美联储认为需要直截了当地对通胀采取行动，美联储需要现在就采取行动以避免通胀的社会成本。过往经验警告不要过早放松政策。鲍威尔表示，美联储需要现在采取行动以避免通胀的社会成本。美联储有责任并愿意承担稳定物价的责任。通胀高于目标的时间越长，风险越大。美联储坚决致力于降低通胀，不会受到政治因素的影响。历史告诫我们不要过早地放松政策。鲍威尔强调，能否维持通胀预期非常重要。美联储的工作是确保通胀预期得到锚定。劳动力市场需求仍然非常强劲。工资水平正在上升。希望有一段经济增长速度低于趋势的时期。经济增长低于趋势水平将给劳动力市场提供更好的平衡。在最近的劳动力市场报告中，看到了受欢迎的劳动力参与率的增加。在利率方面，鲍威尔表示货币供应和通胀关系一直不稳定。美联储从未明确将其政策与任何特定公式挂钩。不确定终端利率是多少。已经研究了名义收入目标，但不认为这是正确的做法。在缩表问题上，鲍威尔表示目前的缩表操作框架良好，准备根据经济需要调整缩表规模，没有理由回到稀缺储备金水平。美联储的两个目标完全不冲突。没有理由转向单一使命。不希望美联储使命范围扩大或缩小。可以在中期达成美联储的两大主要使命。美联储的独立性是对公众有利的。隔夜指数掉期显示，美联储9月加息75基点的可能性接近80％；美国三大股指期货短线跌跌，纳指期货跌0.74%.分析师评美联储主席鲍威尔讲话：在静默期前夕，鲍威尔没有提供任何关于美联储下一步加息行动是50个基点还是75个基点的线索。但在昨日《华尔街日报》的文章发表后，利率市场已基本消化了75个基点的加息预期。鲍威尔没有反对这一提议的事实表明，几乎可以肯定还会有一次大规模的加息。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3098,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938704351,"gmtCreate":1662674245573,"gmtModify":1676537112398,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938704351","repostId":"1158493481","repostType":4,"repost":{"id":"1158493481","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1662643803,"share":"https://ttm.financial/m/news/1158493481?lang=en_US&edition=fundamental","pubTime":"2022-09-08 21:30","market":"us","language":"zh","title":"Opening | The three major U.S. stock indexes collectively open low, Station B plunged 13%","url":"https://stock-news.laohu8.com/highlight/detail?id=1158493481","media":"老虎资讯综合","summary":"9月8日，美股三大指数集体低开，纳斯达克综合指数开盘下跌102.98点，跌幅0.87%，报11688.92点；标普500指数开盘下跌32.14点，跌幅0.81%，报3947.73点；道琼斯指数开盘下跌","content":"<p><html><head></head><body>On September 8th, the three major U.S. stock indexes collectively open low, and the Nasdaq Composite Index opened down 102.98 points, or 0.87%, to 11,688.92 points; The S&P 500 index opened down 32.14 points, or 0.81%, at 3947.73; The Dow opened down 223.93 points, or 0.71%, at 31,357.35.</p><p>Star technology stocks fell generally,<a href=\"https://laohu8.com/S/NFLX\">Netflix</a>It fell by more than 2%,<a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>It fell nearly 2%,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>fell by more than 1%;</p><p>Most stocks in U.S. stocks fell,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/NTES\">Netease</a>、<a href=\"https://laohu8.com/S/BZUN\">Baozun E-commerce</a>、<a href=\"https://laohu8.com/S/ZLAB\">Zai Lab</a>fell more than 3%;</p><p><a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Down 13%, with revenue of 4.9 billion yuan in the second quarter, a year-on-year increase of 13%; Net loss was RMB2.01 billion, representing a year-on-year increase of 79.21%;</p><p><a href=\"https://laohu8.com/S/RIVN\">Rivian</a>Up nearly 6%, Mercedes and Rivian will build a joint venture factory in Europe to produce vans.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opening | The three major U.S. stock indexes collectively open low, Station B plunged 13%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpening | The three major U.S. stock indexes collectively open low, Station B plunged 13%\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-09-08 21:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On September 8th, the three major U.S. stock indexes collectively open low, and the Nasdaq Composite Index opened down 102.98 points, or 0.87%, to 11,688.92 points; The S&P 500 index opened down 32.14 points, or 0.81%, at 3947.73; The Dow opened down 223.93 points, or 0.71%, at 31,357.35.</p><p>Star technology stocks fell generally,<a href=\"https://laohu8.com/S/NFLX\">Netflix</a>It fell by more than 2%,<a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>It fell nearly 2%,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>fell by more than 1%;</p><p>Most stocks in U.S. stocks fell,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/NTES\">Netease</a>、<a href=\"https://laohu8.com/S/BZUN\">Baozun E-commerce</a>、<a href=\"https://laohu8.com/S/ZLAB\">Zai Lab</a>fell more than 3%;</p><p><a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Down 13%, with revenue of 4.9 billion yuan in the second quarter, a year-on-year increase of 13%; Net loss was RMB2.01 billion, representing a year-on-year increase of 79.21%;</p><p><a href=\"https://laohu8.com/S/RIVN\">Rivian</a>Up nearly 6%, Mercedes and Rivian will build a joint venture factory in Europe to produce vans.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ff6e3231d788a5a6d28cf7965385cc7f","relate_stocks":{"BK4526":"热门中概股","BILI":"哔哩哔哩","BK1587":"次新股","BK4563":"昨日强势股","BK4503":"景林资产持仓",".DJI":"道琼斯","BK4513":"直播概念","BK4566":"资本集团",".IXIC":"NASDAQ Composite","BK4505":"高瓴资本持仓",".SPX":"S&P 500 Index","BK4504":"桥水持仓","BK4577":"网络游戏","BK4085":"互动家庭娱乐","09626":"哔哩哔哩-W","BK4548":"巴美列捷福持仓","BK4509":"腾讯概念","BK1588":"回港中概股","BK4510":"在线教育","BK4554":"元宇宙及AR概念","BK1608":"元宇宙概念","BK1575":"同股不同权","BK1104":"互动家庭娱乐","BK4531":"中概回港概念"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158493481","content_text":"9月8日，美股三大指数集体低开，纳斯达克综合指数开盘下跌102.98点，跌幅0.87%，报11688.92点；标普500指数开盘下跌32.14点，跌幅0.81%，报3947.73点；道琼斯指数开盘下跌223.93点，跌幅0.71%，报31357.35点。明星科技股普跌，奈飞跌超2%，英伟达跌近2%，亚马逊跌超1%；美股中概股多数下跌，小鹏汽车跌超4%，网易、宝尊电商、再鼎医药跌超3%；哔哩哔哩跌13%，二季度营收49亿元，同比增长13%；净亏损20.1亿元，同比扩大79.21%；Rivian涨近6%，梅赛德斯和Rivian将在欧洲建设一个合资工厂生产面包车。","news_type":1,"symbols_score_info":{"BILI":0.9,"09626":0.9,".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2673,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938704953,"gmtCreate":1662674233272,"gmtModify":1676537112398,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938704953","repostId":"1129572384","repostType":4,"repost":{"id":"1129572384","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1662645347,"share":"https://ttm.financial/m/news/1129572384?lang=en_US&edition=fundamental","pubTime":"2022-09-08 21:55","market":"us","language":"zh","title":"Three major U.S. stock indexes narrowed their losses, and the Nasdaq turned higher","url":"https://stock-news.laohu8.com/highlight/detail?id=1129572384","media":"老虎资讯综合","summary":"9月8日，美股三大股指跌幅收窄，纳指转涨，道指跌0.28%，标普500指数跌0.1%。","content":"<p><html><head></head><body>On September 8th, the decline of the three major U.S. stock indexes narrowed, the Nasdaq rose, the Dow fell 0.28%, and the S&P 500 fell 0.1%.</p><p><img src=\"https://static.tigerbbs.com/0004493a2e5ead55fbf810e3f4a81895\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Three major U.S. stock indexes narrowed their losses, and the Nasdaq turned higher</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThree major U.S. stock indexes narrowed their losses, and the Nasdaq turned higher\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-09-08 21:55</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On September 8th, the decline of the three major U.S. stock indexes narrowed, the Nasdaq rose, the Dow fell 0.28%, and the S&P 500 fell 0.1%.</p><p><img src=\"https://static.tigerbbs.com/0004493a2e5ead55fbf810e3f4a81895\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fd680cd945fd32917c8ece66ec685e5f","relate_stocks":{".IXIC":"NASDAQ Composite"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129572384","content_text":"9月8日，美股三大股指跌幅收窄，纳指转涨，道指跌0.28%，标普500指数跌0.1%。","news_type":1,"symbols_score_info":{".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2624,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938704093,"gmtCreate":1662674217812,"gmtModify":1676537112398,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938704093","repostId":"1195330694","repostType":4,"repost":{"id":"1195330694","kind":"news","pubTimestamp":1662644744,"share":"https://ttm.financial/m/news/1195330694?lang=en_US&edition=fundamental","pubTime":"2022-09-08 21:45","market":"us","language":"zh","title":"FireWire Interpretation! ECB's \"largest rate hike in history\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1195330694","media":"上海证券报","summary":"欧洲通胀有多焦灼？这不，在加息周期中一向“慢半拍”的欧央行如今也不淡定了，创纪录加息就此开启。8日晚间，欧央行公布利率决议，宣布将三大主要利率均上调75个基点。这是欧央行基准利率有史以来最大幅度上调。","content":"<p><div>How anxious is inflation in Europe? No, the European Central Bank, which has always been \"half a beat slow\" in the rate hike cycle, is now not calm, and the record rate hike has begun. On the evening of the 8th, the European Central Bank announced its interest rate decision, announcing that it would raise all three major interest rates by 75 basis points. This is the biggest increase in the ECB's benchmark interest rate ever. The European Central Bank is in a hurry-the eurozone faces multiple dilemmas of high inflation, energy crisis, bleak economic outlook and debt crisis. To this end, the European Central Bank raised interest rates by 50 basis points in July this year, for the first time in 11 years, thus ending the eight-year \"negative interest rate\" era in the euro zone. Here's the Question: rate hike Momentum...</p><p><a href=\"https://mp.weixin.qq.com/s/LZGBP-ix_dadqeUJoXp4Tw\">Web link</a></div></p>","source":"shzqb","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>FireWire Interpretation! ECB's \"largest rate hike in history\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFireWire Interpretation! ECB's \"largest rate hike in history\"\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">上海证券报</strong><span class=\"h-time small\">2022-09-08 21:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>How anxious is inflation in Europe? No, the European Central Bank, which has always been \"half a beat slow\" in the rate hike cycle, is now not calm, and the record rate hike has begun. On the evening of the 8th, the European Central Bank announced its interest rate decision, announcing that it would raise all three major interest rates by 75 basis points. This is the biggest increase in the ECB's benchmark interest rate ever. The European Central Bank is in a hurry-the eurozone faces multiple dilemmas of high inflation, energy crisis, bleak economic outlook and debt crisis. To this end, the European Central Bank raised interest rates by 50 basis points in July this year, for the first time in 11 years, thus ending the eight-year \"negative interest rate\" era in the euro zone. Here's the Question: rate hike Momentum...</p><p><a href=\"https://mp.weixin.qq.com/s/LZGBP-ix_dadqeUJoXp4Tw\">Web link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/LZGBP-ix_dadqeUJoXp4Tw\">上海证券报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e68f18a297e419bae3cc0320b6d8ff4e","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/LZGBP-ix_dadqeUJoXp4Tw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195330694","content_text":"欧洲通胀有多焦灼？这不，在加息周期中一向“慢半拍”的欧央行如今也不淡定了，创纪录加息就此开启。8日晚间，欧央行公布利率决议，宣布将三大主要利率均上调75个基点。这是欧央行基准利率有史以来最大幅度上调。欧央行正焦头烂额——欧元区面临着通胀高企、能源危机、经济前景暗淡、债务危机多重困境。为此，欧央行在今年7月加息50个基点，为11年来首次，就此终结欧元区持续8年之久的“负利率”时代。问题来了：加息势头越来越猛，能扼住欧元区的滚滚通胀热浪吗？对货币紧缩展现坚定决心的并不只有欧央行。美联储主席鲍威尔今日在参加卡托研究所举办的货币政策讨论会上发表讲话。他表示，美联储认为需要直截了当地对通胀采取行动，并重申“历史告诫我们，不要‘过早’放松政策”。这也是他在即将召开的美联储货币政策会议之前的最后一次公开讲话。能源危机“火烧眉毛”欧元区经济困境难解竖起创纪录加息“大旗”的背后，是欧元区深陷高通胀的现状。“断气”阴霾挥之不去，叠加高温侵袭，欧元区的能源成本经历了前所未有的飙升，给欧元区已处于高热的通胀频频“浇油”。欧盟统计局网站最新数据显示，欧元区8月消费价格（CPI）同比初值为9.1%，高于市场预期的9%，再创历史新高。其中，能源价格8月上涨逾38%，是通胀走高的主要原因。欧央行如今有点进退维谷。业内认为，欧洲央行将不得不更积极加息，以防止通胀数据飙升至两位数。但如果欧洲央行激进加息，GDP或以更快速度下滑。能源供应的不确定性使得短期内欧元区通胀高烧难退。“只要通胀继续上升，欧洲央行就别无选择，只能加快货币紧缩步伐。”瑞士百达财富管理宏观经济研究主管杜泽飞表示，欧元区的通胀还未见顶。到2022年四季度，欧元区整体通胀率可能会高达10%。但激进加息势必影响到经济前景。杜泽飞表示，欧元区所面临的能源问题和冬季经济衰退较为严峻，预计欧元区的全年GDP增长将从2022年的2.9%，下降至2023年零增长。欧洲央行也最新下调了其对于2023年的GDP增速预测数据：预计2023年与2024年GDP增速分别为0.9%、1.9%，前值分别为2.1%和2.1%。业内人士认为，为应对通胀，欧央行大举加息，或将加剧欧元区各经济体之间分化，并不断放大希腊、意大利等经济体的债务压力，市场需要警惕“欧债危机”重演的可能性。欧元汇率“翻身”难遗憾的是，上一轮欧央行大幅加息并未明显提振欧元颓势。近日，欧元对美元汇率跌破0.99关口，再度刷新20年来低位。囿于经济前景暗淡、能源危机、通胀高企等因素，今年以来，欧元对美元已多次跌破平价，年内跌幅近12%。纽约梅隆银行稍早前公布的数据显示，投资者对欧元的看跌情绪已经超过了2020年10月的水平。加息能解欧元所面临的困局吗？瑞银财富管理投资总监办公室（CIO）认为，即使欧洲央行大幅加息，也不太可能持续提振欧元。尤其是上周，俄罗斯决定停止通过北溪1号管道向德国供气，市场对欧元区经济增长较为担忧，将影响欧元表现。中欧国际工商学院教授、中国人民银行调查统计司原司长盛松成认为，在能源危机和经济放缓同时发生的背景下，欧央行加息对于扭转欧元贬值趋势的作用较为有限。9月8日，欧洲央行公布利率决议之后，欧元对美元直线拉升，最高至1.0029，随后，又冲高回落。截至记者发稿，欧元对美元完全回吐此前涨幅，再度跌破平价，报0.9977。全球央行放“鹰”经济衰退风险上升不仅仅是欧央行，全球大通胀下，各大央行近期纷纷憋“加息”大招。本周，澳大利亚央行将基准利率上调50个基点至2.35%，这也是该央行连续第四次加息50个基点。下周，英国央行也将召开货币政策会议，目前市场基准预期是加息75个基点，“只有立即采取更有力的行动，才能确保高通胀趋势不会成为常态，否则未来可能要经历更深、更长的经济衰退才能让通胀回到目标水平。”英国央行官员曼恩(Catherine Mann)近日呼吁，尽快采取“强有力的”行动来控制通胀。瑞银CIO表示，预计美联储将在年底前再加息100个基点，而且如果通胀没有如期放缓，美联储可能会进一步紧缩政策。通胀态势难料，全球各大央行加息步伐短期内难以结束。“在高通胀的环境下，许多投资者此前低估了各国央行收紧政策的意愿，而美欧央行的立场及美国劳动力数据都强化了此观点。”瑞银CIO认为。景顺首席全球市场策略师Kristina Hooper表示，各大主要央行坚守强硬立场，会对全球科技股价格施加下行压力。前瞻性指标显示，在未来几个月里，经济低迷可能会加剧，这意味经济衰退风险已经上升。瑞士百达财富管理亚洲宏观经济研究主管陈东预期，未来10年，美国及欧元区的潜在GDP增长均值分别为2.0%及1.6%；并估计结构性通胀将在美国达到长期年均2.8%（疫情前年均为1.8%），在欧元区达到1.9%（疫情前年均为1.4%）。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1067,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818993258,"gmtCreate":1630369237574,"gmtModify":1676530281557,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/818993258","repostId":"1161821102","repostType":4,"repost":{"id":"1161821102","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1630367862,"share":"https://ttm.financial/m/news/1161821102?lang=en_US&edition=fundamental","pubTime":"2021-08-31 07:57","market":"hk","language":"zh","title":"Helen Division is offering its shares today, and the entrance fee is approximately HK$10,464.4","url":"https://stock-news.laohu8.com/highlight/detail?id=1161821102","media":"老虎资讯综合","summary":"8月31日，海伦司发布公告，公司拟全球发售1.3465亿股股份，其中香港发售股份1346.5万股，国际发售股份1.21185亿股，另有15%超额配股权；2021年8月31日至9月3日招股，预期定价日为","content":"<p>On August 31,<a href=\"https://laohu8.com/S/09869\">Helen S.</a>Announced that the company plans to offer 134.65 million shares globally, including 13.465 million shares offered in Hong Kong, 121.85 million shares offered internationally, and 15% over-allotment option; Offering from August 31 to September 3, 2021, with an expected pricing date of September 3; an Offer Price of HK$18.82 – HK$20.72 per Offer Share, board lot of 500 Shares and an admission fee of approximately HK$10,464.4;<a href=\"https://laohu8.com/S/601995\">CICC</a>Being the Sole Sponsor; The Shares are expected to be listed on the Main Board of the Stock Exchange on 10 September 2021.</p><p><img src=\"https://static.tigerbbs.com/3fdb0b717e3c80ba38d61ea90a31d4e3\" tg-width=\"906\" tg-height=\"761\" referrerpolicy=\"no-referrer\"></p><p><b>Subscription ladder:</b></p><p>Each lot of 500 shares, the entrance fee is HK$10,464.4.</p><p>The threshold of Group B is 300,000 shares, and the funds required for subscription are about HK$ 6,278,638.63.</p><p><img src=\"https://static.tigerbbs.com/2a5718e75ddbb105de687bf77f251700\" tg-width=\"919\" tg-height=\"647\" referrerpolicy=\"no-referrer\"></p><p>The Group is the largest network of tavern chains in China. In 2020, the Group ranked first in China's tavern industry in terms of revenue, with a market share of 1.1%. According to Frost & Sullivan, the Group maintained its market leading position in the PRC pub industry in terms of the number of pubs in 2018, 2019 and 2020 and the three months ended 31 March 2021. Leveraging on a highly standardized operating model, the scale of the Group's tavern network expanded rapidly during the Track Record Period. As of December 31, 2018, 2019, 2020 and March 31, 2021, the total number of pubs in the Group's pub network was 162, 252, 351 and 374, respectively, and further increased to 528 as of the Latest Practicable Date. The Group has been operating pubs under the \"Helen's\" brand and as of the Latest Practicable Date, there were 66, 296 and 165 Helen's pubs in Tier 1, Tier 2 and Tier 3 and below cities in China, respectively, accounting for 12.5%, 56.1% and 31.3% of the total number of pubs as of the same date, respectively.</p><p>Assuming an Offer Price of HK$19.77 per Offer Share, being the mid-point of the Offer Price range stated in this prospectus, the estimated net proceeds from the Global Offering to be received by the Group would be HK$2,512.9 million. Of which, approximately 70.0% of the net proceeds will be used to open new pubs and realize the Group's expansion plans in the next three years; Approximately 10.0% will be used to further strengthen the talent echelon of the Company's taverns to optimize the human resources management system; Approximately 5.0% will be used to further strengthen the basic capacity building of the tavern; Approximately 5.0% will be used to further strengthen the brand awareness of Helen's; And the remaining approximately 10.0% will be used for working capital and general corporate purposes.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Helen Division is offering its shares today, and the entrance fee is approximately HK$10,464.4</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHelen Division is offering its shares today, and the entrance fee is approximately HK$10,464.4\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-31 07:57</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On August 31,<a href=\"https://laohu8.com/S/09869\">Helen S.</a>Announced that the company plans to offer 134.65 million shares globally, including 13.465 million shares offered in Hong Kong, 121.85 million shares offered internationally, and 15% over-allotment option; Offering from August 31 to September 3, 2021, with an expected pricing date of September 3; an Offer Price of HK$18.82 – HK$20.72 per Offer Share, board lot of 500 Shares and an admission fee of approximately HK$10,464.4;<a href=\"https://laohu8.com/S/601995\">CICC</a>Being the Sole Sponsor; The Shares are expected to be listed on the Main Board of the Stock Exchange on 10 September 2021.</p><p><img src=\"https://static.tigerbbs.com/3fdb0b717e3c80ba38d61ea90a31d4e3\" tg-width=\"906\" tg-height=\"761\" referrerpolicy=\"no-referrer\"></p><p><b>Subscription ladder:</b></p><p>Each lot of 500 shares, the entrance fee is HK$10,464.4.</p><p>The threshold of Group B is 300,000 shares, and the funds required for subscription are about HK$ 6,278,638.63.</p><p><img src=\"https://static.tigerbbs.com/2a5718e75ddbb105de687bf77f251700\" tg-width=\"919\" tg-height=\"647\" referrerpolicy=\"no-referrer\"></p><p>The Group is the largest network of tavern chains in China. In 2020, the Group ranked first in China's tavern industry in terms of revenue, with a market share of 1.1%. According to Frost & Sullivan, the Group maintained its market leading position in the PRC pub industry in terms of the number of pubs in 2018, 2019 and 2020 and the three months ended 31 March 2021. Leveraging on a highly standardized operating model, the scale of the Group's tavern network expanded rapidly during the Track Record Period. As of December 31, 2018, 2019, 2020 and March 31, 2021, the total number of pubs in the Group's pub network was 162, 252, 351 and 374, respectively, and further increased to 528 as of the Latest Practicable Date. The Group has been operating pubs under the \"Helen's\" brand and as of the Latest Practicable Date, there were 66, 296 and 165 Helen's pubs in Tier 1, Tier 2 and Tier 3 and below cities in China, respectively, accounting for 12.5%, 56.1% and 31.3% of the total number of pubs as of the same date, respectively.</p><p>Assuming an Offer Price of HK$19.77 per Offer Share, being the mid-point of the Offer Price range stated in this prospectus, the estimated net proceeds from the Global Offering to be received by the Group would be HK$2,512.9 million. Of which, approximately 70.0% of the net proceeds will be used to open new pubs and realize the Group's expansion plans in the next three years; Approximately 10.0% will be used to further strengthen the talent echelon of the Company's taverns to optimize the human resources management system; Approximately 5.0% will be used to further strengthen the basic capacity building of the tavern; Approximately 5.0% will be used to further strengthen the brand awareness of Helen's; And the remaining approximately 10.0% will be used for working capital and general corporate purposes.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6b69e234a63c2c0a69ccede7b0faaa18","relate_stocks":{"09869":"海伦司"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161821102","content_text":"8月31日，海伦司发布公告，公司拟全球发售1.3465亿股股份，其中香港发售股份1346.5万股，国际发售股份1.21185亿股，另有15%超额配股权；2021年8月31日至9月3日招股，预期定价日为9月3日；发售价每股发售股份18.82港元-20.72港元，每手买卖单位500股，入场费约10464.4港元；中金公司为独家保荐人；预期股份将于2021年9月10日于联交所主板挂牌上市。\n\n申购阶梯：\n每手500股，入场费10464.4港元。\n乙组门槛为30万股，申购所需资金约6278638.63港元。\n\n集团是中国最大的连锁酒馆网络。2020年，按收入计，集团在中国酒馆行业中排名第一，占据1.1%的市场份额。根据弗若斯特沙利文的资料，以酒馆数量计，集团于2018年、2019年及2020年以及截至2021年3月31日止三个月在中国酒馆行业中保持市场领导地位。借助高度标准化的运营模式，集团酒馆网络的规模于往绩记录期间快速扩张。截至2018年、2019年、2020年12月31日及2021年3月31日，集团酒馆网络中的酒馆总数分别为162家、252家、351家及374家，并进一步增加至截至最后实际可行日期的528家。集团一直以“Helen’s(海伦司)”品牌经营酒馆，截至最后实际可行日期，在中国一线、二线及三线及以下城市的Helen’s酒馆数分别为66家、296家及165家，分别占截至同日酒馆总数量的12.5%、56.1%及31.3%。\n假设发售价为每股发售股份19.77港元(即本招股章程所述发售价范围的中位数)，集团将收到的全球发售估计所得款项净额25.129亿港元。其中，所得款项净额约70.0%将被用于在未来三年开设新酒馆及实现集团的扩张计划；约10.0%将用于进一步加强公司酒馆的人才梯队建设，以优化人力资源管理体系；约5.0%将用于进一步加强酒馆的基础能力建设；约5.0%将用于进一步强化Helen’s的品牌知名度；及余下约10.0%将用作营运资金及一般企业用途。","news_type":1,"symbols_score_info":{"09869":0.9}},"isVote":1,"tweetType":1,"viewCount":991,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144557155,"gmtCreate":1626307546477,"gmtModify":1703757454623,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144557155","repostId":"1111811630","repostType":4,"repost":{"id":"1111811630","kind":"news","pubTimestamp":1626307234,"share":"https://ttm.financial/m/news/1111811630?lang=en_US&edition=fundamental","pubTime":"2021-07-15 08:00","market":"sh","language":"zh","title":"Past events of listing of Chinese Internet companies","url":"https://stock-news.laohu8.com/highlight/detail?id=1111811630","media":"吴杨野餐会","summary":"1983年，刘钢从北京大学法学院毕业，被分配到司法部秘书处，负责为部长撰写日常报告。\n一年后，他感觉工作内容枯燥，想申请调职。有人劝告他，秘书身份可能会更容易得到提升。\n1985年，国家推行“第三梯队","content":"<p>In 1983, Gang Liu graduated from Peking University Law School and was assigned to the Ministry of Justice Secretariat, where he was responsible for writing daily reports for the minister.</p><p>A year later, he felt that the job content was boring and wanted to apply for a transfer. He was advised that secretarial status might be easier to promote.</p><p>In 1985, the state carried out the reform of the \"third echelon\" cadres. The Ministry of Justice selected young cadres to train at the grass-roots level, and Liu Gang was included. He voluntarily gave up his position in the grass-roots organ and chose to be a grass-roots lawyer.</p><p>After the training period expired, colleagues returned to the Ministry of Justice to continue their careers, but Liu Gang did not go back. He chose to stay in the law profession.</p><p>At that time, China's lawyer profession was just emerging, and everything was still in the period of ignorance. Liu Gang's main business is debt collection.</p><p>Since then, he has lived the life of \"debt collector migrant worker\": squeezing the hard seat of the train for two days and two nights, sleeping in Datongpu for one dollar a night, running wildly to chase the debtor, and avoiding the thugs and beatings of the debtor...</p><p>The turning point came in 1989. The Department of Justice and the British Bar Association have jointly launched a training programme for lawyers. After applying and passing the examination, Liu Gang was selected to receive internship training at a law firm in London, England.</p><p>He wanted to do the intellectual property that was hot in China at that time. But a senior partner at a British law firm advised him: \"I suggest you know about capital markets.\" Liu asked: \"What is a capital market?\"</p><p><b>\"A country as big as China will have a capital market sooner or later.\"</b>The partner of the British law firm said.</p><p>In 1990, China ushered in its own capital market, and the Shanghai Stock Exchange and Shenzhen Stock Exchange opened successively.</p><p><img src=\"https://static.tigerbbs.com/99e63397642efd52b0b6a3d4dc5643f2\" tg-width=\"640\" tg-height=\"493\" referrerpolicy=\"no-referrer\"></p><p>▲ In the 1990s, investors lined up at the entrance of the Shanghai Stock Exchange</p><p>(Photo | Pan Sophie, China News Service)</p><p>Two years later, China liberalized restrictions on private partnership law firms. Liu Gang and two friends rented an office outside Jianguomen and started their own law firm: Commercial Law Firm.</p><p>In 2000, Liu Gang got a key opportunity in his career. At that time, Sina was shocking the Nasdaq listing. If successful, it would become the first Chinese internet company to go public in the US.</p><p>Sina's listed entity is registered in the Cayman Islands. However, Chinese law restricts foreign investment in the Internet: foreign investment in the Chinese Internet is prohibited, and foreign companies are prohibited from conducting Internet business in China.</p><p>To bypass these investment restrictions, Liu helped Sina design a complex control architecture. He connects foreign investors and Chinese companies through a series of complex legal contracts that enable overseas listed entities to control domestic operating entities through agreements without direct equity relationships.</p><p><b>Liu Gang used a paper VIE structure to open the curtain of overseas listing of Chinese Internet companies.</b></p><p>In April 2000, Sina successfully landed on NASDAQ in the United States. In June and July of the same year, Netease and Sohu successively completed the listing of Nasdaq. Liu Gang participated in the overseas listing of China's three major portals. This is very rare in the lawyer profession.</p><p>Since then, for more than 20 years, almost all Chinese Internet companies have been listed overseas, adopting the VIE structure of \"Sina mode\". As of May 2021, there were a total of 248 companies in China listed in the United States, with a combined market capitalization of up to $2.1 trillion. Among them, the number of Internet-related information technology companies is the largest, accounting for more than one quarter.</p><p><b>However, the VIE structure has also become the fulcrum of the stock market game between China and the United States in the next 20 years.</b></p><p>In Liu Gang's statement, the VIE structure \"enables overseas investment companies to control the operation of domestic companies without direct equity relationship\".</p><p>However, in the statement of the US Congress, the VIE structure \"ensures that economic benefits flow to foreign investors, while keeping operational control of the business in Chinese companies\".</p><p><b>This special structure has become a typical feature of Chinese stocks, and it has also laid the groundwork for controversy and crisis for Chinese Internet companies' overseas listing in 20 years.</b></p><p>The ten-year history of overseas listing after the global financial crisis in 2008 is the key to helping us understand the current situation of Chinese Internet companies. I've divided it into four phases, which are:</p><p><img src=\"https://static.tigerbbs.com/6e5b6f69c3b6db65256d2ee9f3c20b46\" tg-width=\"965\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p><p><b>01</b></p><p><b>Hunting Chinese Companies</b></p><p><b>The first round of overseas listing and short selling (2010-2013)</b></p><p>On November 1st, 2011, Zhou Hongyi rushed back to the company in the middle of the night, and called a bunch of corresponding supervisors such as website, browser, investor relations, finance, legal affairs and public relations.</p><p>At 9 o'clock that night, Citron Research, a short-selling institution, issued the first short-selling report against Qihoo 360 before the US stock market opened. One hour later, the report was sent to Zhou Hongyi. \"We were surprised when Citron shorted 360,\" he said.</p><p>On the same day, Qihoo 360's stock fell by about 10%.</p><p>Seven months ago, Qihoo 360 landed on the New York Stock Exchange. Along with it, a large number of Chinese companies have landed on the U.S. stock market.</p><p>After the 2008 financial crisis, the US economy has recovered rapidly since 2009, and the international capital market is active. At the same time, Chinese Internet companies are in a period of rapid expansion and are in urgent need of capital.</p><p>A large number of Internet companies rushed to the United States to seek listings.<b>From 2010 to 2012, Internet companies such as Gaode Map, Qihoo 360, Youku and Tudou successfully listed in the United States, starting an overseas boom of Chinese stocks.</b></p><p><img src=\"https://static.tigerbbs.com/53b96a1e444ead872f2cd9531b979af2\" tg-width=\"692\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>▲ Changes in the number of Chinese companies listed in the United States from 1970 to 2020</p><p>Data source: Zero2IPO Research Center</p><p>In 2010, a total of about 50 Chinese stocks landed in the US stock market, and the number of overseas listings of Chinese companies broke through the peak, which also attracted the attention of \"market vultures\" short-selling institutions.</p><p>Muddy Waters fires its first bullet. In 2010, Muddy Waters' founder Carson Block threw out a 30-page short-selling report of Oriental Paper, and Oriental Paper's stock price plummeted, and Muddy Waters became famous in the First War.</p><p>Subsequently, American short-selling institutions represented by Muddy Waters and Citron successively targeted Chinese stocks such as Focus Media, Qihoo 360 and New Oriental. Among them, Internet companies have become the hardest hit areas of hunted Chinese stocks.</p><p>Under this round of hunting by short-selling institutions, more than 40 Chinese enterprises had to suspend trading and delist.<b>China stocks collectively fall into a crisis of trust.</b></p><p><b>VIE is a key target for U.S. institutions to short Chinese companies.</b>\"There is a VIE structure in China's Internet industry. Americans think that you have no legal requirements, and they will always feel unsure,\" Zhou Hongyi said.</p><p>On July 17, 2012, New Oriental was investigated by the U.S. Securities and Exchange Commission (SEC) because of the adjustment of VIE structure. Muddy Waters immediately released a short-selling report of more than 90 pages, pointing out that New Oriental's VIE structure has huge hidden dangers and lacks control.</p><p>Within 48 hours, New Oriental's share price fell by 60%, and its share price hit a five-year low.</p><p>At the same time, the New Oriental incident caused the international market to worry about the VIE structure, and Chinese stocks generally plummeted. Ctrip, Sina, etc. fell by more than 7%, while Dangdang, Qihoo 360, Netease and Sohu fell by more than 4%.</p><p>After the outbreak of the short-selling tide of Chinese stocks, the US regulators made a further strong attack. In December 2012, the SEC initiated administrative proceedings against Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers and the China Division of BDO.</p><p>The SEC asked them to submit the audit papers of nine Chinese stocks listed in the United States, but the Big Five accounting firms refused this request. They were unwilling to violate Chinese laws.</p><p>The move has left Chinese companies listed in the United States in a position without auditors, forcing Chinese companies to delist.</p><p>The delisting tide of Chinese stocks is getting fiercer and fiercer. The number of Chinese companies listed in the United States decreased from more than 240 in 2010 to less than 200 in 2012.</p><p><img src=\"https://static.tigerbbs.com/2c640046a4853c23afbcdbf6ee3d55e5\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>▲ 2010-2012 U.S. Listed Chinese Concept Stocks Encountered Short-selling Wave</p><p>Source: Guosheng Securities</p><p>With frequent conflicts, China and the United States have included auditing cross-border law enforcement in the strategic economic dialogue. In 2013, the CSRC and the Ministry of Finance signed a law enforcement cooperation agreement with the Accounting Regulatory Commission for Listed Companies (PCAOB) of the United States to formally carry out cross-border law enforcement cooperation in audit.</p><p><b>However, the issue of data sovereignty and confidentiality remains a difficult contradiction between China and the United States.</b>All kinds of subsequent storms also arose because of this.</p><p><b>02</b></p><p><b>Shadows beneath the feast</b></p><p><b>Ali's Listing and the Storm of Censorship of China Concept Stocks (2014-2017)</b></p><p>In September 2014, Jack Ma entered United Nations Headquarters. One of the purposes of his trip was to meet with UN Secretary-General Ban Ki-moon through the recommendation of Hang Lung Group Chairman Chen Qizong.</p><p>The two of them stood at the entrance of the elevator. When Ban Ki-moon came up, Chen Qizong said this to Ma Yun:</p><p>\"I know that Ali was forced to go public in the United States. Hong Kong has no different rights to the same shares, so you can't help it.<b>But Jack Ma, you have to be careful, Americans have long, long hands. One day he will give you trouble.</b>”</p><p>A week ago, Alibaba was successfully listed on the New York Stock Exchange in the United States on September 19th. The revelry flooded Wall Street.</p><p>That night, on the big black screen of NYSE, the numbers representing Alibaba's opening price kept rolling and climbing-70... 80... 90...</p><p>\"Opening price 92.7!\" a voice shouted.</p><p>Jack Ma looked up and glanced excitedly at the numbers on the screen. He picked up the hammer and swiftly struck a golden bronze bell. The crowd surrounding him immediately cheered, flashing lights.</p><p>After more than 2 hours and 12 rounds of inquiry, Alibaba stock finally opened at 23: 53 that night. The opening price was $92.7, up 36.32% from the issue price of $68. The total amount of financing reached $34.125 billion, setting a record for IPO financing in global history. Alibaba's total market capitalization reached $228.5 billion, exceeding the GDP of more than 100 countries.</p><p><img src=\"https://static.tigerbbs.com/b666ad1064a3f877e706adaec7dfcd17\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p><p>▲ Jack Ma of Alibaba's US Listing Site in 2014</p><p><b>A number of American brokerages and international capital shared this capital feast.</b>Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and others are among them.</p><p>When Alibaba landed on the NYSE, SoftBank held 34.4% of the shares, making it the largest shareholder; Yahoo holds 22.6% of the shares, ranking second. According to the opening price of Alibaba's listing alone, the market value of SoftBank and Yahoo's holdings has reached $78.604 billion and $51.641 billion respectively, not counting the part they previously cashed out from Ali.</p><p>2014 is another peak for Chinese Internet companies to go public in the United States. In addition to Ali, JD.COM, Weibo, Tuniu, Zhaopin Recruitment, etc. have also landed on the New York Stock Exchange and Nasdaq in the United States. A total of 12 Internet companies have completed their listing in the United States throughout the year.</p><p>However, the month that Alibaba went public, the U.S. Congressional China Economic and Security Review Committee (UCESRC) issued a document entitled<b>Risks of Chinese Internet Companies on the U.S. Stock Exchange</b>The investigation report of.</p><p>The report uses 17 pages to point out the risks of listing of Chinese Internet companies, pointing out that the VIE structure is untrustworthy. \"Many U.S. legal experts believe that the VIE structure is technically illegal under Chinese law and advise U.S. investors against such investments,\" the UCESRC declared.</p><p>On the night of Double Eleven in the same year, Jack Ma accepted a 20-minute media interview at Ali's headquarters in Hangzhou. When he talked about Alipay's listing, he directly stated his position:<b>\"For various reasons, Alibaba has no way to be listed on A shares, so we hope that Alipay can be listed on China's A shares in the future.\"</b></p><p>Obviously, Jack Ma understood Chen Qizong's words. To further understand this statement, we still need to pull the timeline back to the Alipay split event three years ago.</p><p>In the first quarter of 2011, the People's Bank of China required payment companies applying for payment licenses to make a declaration on the percentage of foreign ownership. In May, Jack Ma changed the ownership of Alipay and terminated Alibaba Group's control agreement over Zhejiang's Alibaba. Zhejiang Alibaba is the wholly-owned holding company of Alipay. Which means,<b>Alipay has changed from a foreign-controlled company to a purely domestic company.</b></p><p><img src=\"https://static.tigerbbs.com/86b9f8383885bec01116a82dcc7cc0da\" tg-width=\"449\" tg-height=\"329\" referrerpolicy=\"no-referrer\"></p><p>▲ Alipay Spin-off Equity Change</p><p>However, this round of equity change in Jack Ma has not reached an agreement with the board of directors before. After the boat was done, Jack Ma paid corresponding compensation to Yahoo and SoftBank, the two major shareholders.</p><p>On July 29th, 2011, Alibaba Group, Yahoo and SoftBank formally signed an agreement on the equity transfer of Alipay. Alipay Holdings promised to give Alibaba Group a one-time cash return when it went public. The return is 37.5% of the total market value of Alipay's IPO price at the time of listing, which is not less than US$2 billion and not more than US$6 billion.</p><p>For this reason, Jack Ma bears the stigma of \"dishonesty\" and \"cracking down on foreign investors' confidence in VIE of Chinese stocks\". He rarely took the initiative to accept a large-scale exclusive interview with domestic media, and came forward to explain that everything was to obtain a payment license for Alipay compliance.</p><p>\"I said, brother, if you start a small joint venture, it doesn't matter.<b>You are engaged in Alipay, which is finance, and it is more and more touching sensitive areas. Finance is data, and something will go wrong.</b>Jerry Yang didn't believe it, but then they did. \" Jack Ma said in an exclusive interview with Esquire.</p><p>But at the time, most people thought that Jack Ma was using the government as a shield, and mostly mocked it. Jack Ma quit Weibo in anger.</p><p>Before withdrawing, Jack Ma sent out one last tweet. No text, just punctuation:<b>Question marks, exclamation marks, and a string of ellipses</b>。</p><p>Three years after the spin-off of Alipay, Ant Financial was established in 2014 to enter inclusive finance from the payment field.</p><p>Six years later, just before Ant went public, Jack Ma gave that famous speech at the Bund Financial Summit at the end of October 2020. On November 3rd, Shanghai Stock Exchange and Hong Kong Stock Exchange successively issued emergency notices to suspend the listing of Ant Financial Science and Technology Innovation Board and H shares.</p><p>At this moment, everyone suddenly realized.<b>Nine years ago, Jack Ma did not overestimate the Chinese government's resolve.</b></p><p><b>03</b></p><p><b>Torrent into the sea</b></p><p><b>New Economic Reform of A Shares and H Shares (2018-2019)</b></p><p>During the two sessions in 2018, Liu Shiyu, then chairman of China Securities Regulatory Commission, said when talking about the overseas listing of China's new economy companies that due to the specific institutional environment and market capacity at that time, some new economy enterprises in China chose to list overseas, which was a good thing. But it is also a pity that the country has not enjoyed the fruits of their growth.</p><p><b>\"In a new era, this regret can't happen again.\"</b>Liu Shiyu said.</p><p>\"If you stand on the wind, even pigs will fly.\" Lei Jun, who said this sentence, once again pushed Xiaomi into the forefront of the times.<b>He wants Xiaomi to become the first Internet company to list A shares in the mainland and H shares in Hong Kong simultaneously.</b></p><p>On May 3, 2018, Lei Jun held two Xiaomi mobile phones and personally flew to Hong Kong to visit Li Ka-shing, the richest man in Hong Kong. On the same day, Xiaomi submitted its listing prospectus to HKEx. Li Ka-shing loves to confirm Huo Jianning to the media that Li Ka-shing spent HK$230 million to subscribe for Xiaomi shares. In addition to Li Ka-shing, two domestic Internet giants, Jack Ma and Ma Huateng, also subscribed for Xiaomi shares.</p><p><img src=\"https://static.tigerbbs.com/c1dfd540577403bd287f47c1209b66c3\" tg-width=\"460\" tg-height=\"304\" referrerpolicy=\"no-referrer\"></p><p>▲ Lei Jun Meets with Li Ka-shing</p><p>In the mainland, Xiaomi has set a 12-day \"lightning\" record. On June 7th of the same year, Xiaomi applied to China Securities Regulatory Commission to issue CDR (depositary receipt) for listing, which was accepted on the same day. On the 14th, Xiaomi updated its prospectus, and received feedback from the CSRC that night, which is scheduled to be reviewed on the 19th.</p><p>At that time,<b>China Securities Regulatory Commission and Hong Kong Stock Exchange are scrambling to promote the listing reform of the new economy.</b></p><p>In December 2017, HKEx issued the Market Consultation Summary of the Framework Consultation Document on the Proposed Establishment of Innovation Board, announcing the acceptance of new economy companies with different voting rights structures to list in Hong Kong.</p><p>Three months later, the General Office of the State Council forwarded the \"Several Opinions on Carrying out the Pilot Program of Domestic Issuance of Shares or Depositary Receipts by Innovative Enterprises\" issued by the CSRC, allowing new economy enterprises listed overseas to issue CDRs (Depositary Receipts) in the mainland A-share market, and promoting new economy enterprises including the Internet to return to A-share listing.</p><p>However, Xiaomi was suddenly stopped listing in CDR in the mainland. On June 14, 2018, the CSRC issued 84 questions against Xiaomi. Five days later, Xiaomi announced that it would postpone the meeting of the Issuance Examination Committee to review the company's CDR issuance application. After listing in Hong Kong first, choose the opportunity to list in China by issuing CDRs.</p><p>The Hong Kong listing was also full of twists and turns. On July 9th of that year, Xiaomi completed its listing on the Hong Kong Stock Exchange. On the day of listing, Xiaomi shares were included in the composite constituent stocks of Hang Seng Index, and according to normal circumstances, they will enter Hong Kong Stock Connect, allowing mainland Chinese investors to directly buy Xiaomi shares.</p><p>Unexpectedly, the Shanghai and Shenzhen Stock Exchanges suddenly issued a notice on July 14th, temporarily refusing companies with different rights, foreign company stocks and stapled securities to be included in the scope of Hong Kong Stock Connect on the grounds that \"mainland investors are unfamiliar\". Xiaomi was turned away.</p><p>Two days later, Li Xiaojia, CEO of Hong Kong Stock Exchange, flew from Hong Kong to Beijing in an emergency to meet and negotiate with the relevant person in charge of China Securities Regulatory Commission. \"We have been communicating with the mainland Securities Regulatory Commission for weeks and months. It is best to package it all this time and move forward according to the normal procedures of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. However, mainland exchanges may have some different opinions.\" Li Xiaojia said.</p><p><b>This dispute is related to the future direction of listing of Chinese Internet companies. Can the door open to a new era?</b></p><p>For a long time, Chinese Internet companies have only had one option to list in the United States, because mainland A shares and Hong Kong H shares did not accept the same share structure with different rights in the past. Even if the HKEx is determined to reform, poor liquidity will still become a key constraint for Internet companies to go public in Hong Kong.</p><p>Only when Hong Kong Stock Connect accepts new economy companies and huge amounts of money from mainland China can go south, can the door of the Eastern World truly open to Internet companies.</p><p><b>The storm is temporary, and the direction is certain.</b></p><p>In 2018, HKEx regained the first place in the global exchange IPO ranking, and the annual IPO fund-raising amount reached HK$277.85 billion, a new high since 2010.</p><p>A total of 28 new economy companies and biotechnology companies were listed in Hong Kong throughout the year. Among them, Xiaomi and Meituan ranked the second and third largest companies in Hong Kong with HK$42.61 billion and HK$33.14 billion, respectively.</p><p>In October 2019, Shanghai Stock Exchange and Shenzhen Stock Exchange announced that Xiaomi and Meituan were included in Hong Kong Stock Connect.</p><p>Taking advantage of this momentum, Chinese Internet companies, including Ali, Netease and JD.COM, have returned from overseas and rushed to go to Hong Kong for secondary listing. By 2021, the Hong Kong market has gathered eight Internet giants: Tencent, Ali, Meituan, Aauto Quicker, JD.COM, Xiaomi, Baidu and Netease.</p><p><img src=\"https://static.tigerbbs.com/dd1e5900f6cb5582296cd123573d40b6\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>Source: HKEX</p><p>At the same stage, the listing of Chinese Internet companies in the United States ushered in the third peak. In 2018 and 2019, 38 and 32 Chinese companies went public in the United States respectively, most of which were mainly Internet new economy enterprises, including iQiyi, Douyu, Netease Youdao and so on.</p><p>In October 2019, China and the United States reached a consensus on the acquisition of audit work papers of listed companies in the United States audited by Hong Kong accounting firms and deposited in Mainland China. In response to a reporter's question, the CSRC said that the two sides \"maintain a smooth cooperative relationship\".</p><p>Everything seemed thriving.</p><p>People didn't expect that just a year later,<b>New crises, like volcanic lava, have accumulated for a long time and gushed out</b>。</p><p><b>04</b></p><p><b>New Crisis Age</b></p><p><b>The Dilemma and Future of Didi, Byte and Pinduoduo (2020-Today)</b></p><p>July 1st, the 100th anniversary of the founding of the Party. In the early morning of the same day, Didi went public in the United States and raised $4.4 billion.</p><p>This is the largest IPO of a Chinese company in the United States since 2014. There are no bell-ringing photos, no announcement on official website, few media reports, and employees don't post friends.</p><p>On July 2nd, China's Cyber Security Review Office issued an announcement stating that in order to prevent national data security risks, safeguard national security and protect public interests, Didi Chuxing will be reviewed for cyber security in accordance with the National Security Law and Cyber Security Law. During the review period, \"Didi Chuxing\" stopped new user registration. Didi's listing only appeared on Weibo hot search and media headlines.</p><p>On July 9th, all 25 apps of Didi Company were removed from the shelves.</p><p>Ray Dalio, founder of Bridgewater, the world's largest hedge fund, once published a 20,000-word article entitled \"The Changing World Order\" on his LinkedIn homepage. He pointed out that the \"Populism Index\", a measure of global conflict, has now reached an all-time high.</p><p>\"We are heading into an abyss of polarization and populism,\" Dalio warned,<b>The polarization between rich and poor, political polarization and ultra-nationalism we face today are very similar to those of World War II.</b></p><p><img src=\"https://static.tigerbbs.com/82a4ead3b25817350b19c65a0fb2c2ba\" tg-width=\"864\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>▲ The polarization between the rich and the poor leads to extreme nationalism, which is similar to that of World War II</p><p>Source: Bridgewater</p><p>On March 25, 2021, the Securities and Exchange Commission (SEC) issued an announcement passing a final amendment to the Foreign Company Accountability Act (HFCAA). The bill provides that,<b>Foreign issuers who fail to meet the U.S. Public Company Accounting Oversight Board (PCAOB) requirements for inspection of accounting firms for three consecutive years will be delisted.</b></p><p>Chinese Foreign Ministry spokeswoman Hua Chunying responded at a press conference: \"HFCAA is completely an unreasonable political suppression of Chinese listed companies in the United States, seriously distorting the basic norms of market economy that the United States has always advertised, and also depriving American investors and the American public of the opportunity to share the development dividends of Chinese enterprises.\"</p><p>According to the official data of PCAOB in the United States, as of April 2020,<b>Among the foreign listed companies that do not accept PCAOB inspection audit papers, companies in mainland China and Hong Kong account for nearly 90%.</b></p><p>Didi successfully threw itself into the eye of the typhoon in the storm of the Sino-US stock market game with its silent listing.</p><p>On July 7th, WeChat official account, a subsidiary of People's Daily, published two reports commenting on the Didi incident: \"Didi is far from the level of employment to make the government. If Didi dies later, the driver changes a platform to take orders, and we change a platform to take a taxi, and our life will not be affected in any way.\"</p><p>On July 8, U.S. Democratic Senator Chris Van Hollen called on the SEC to thoroughly investigate Didi's listing.</p><p><b>The Internet is in an eventful time. Some things look together and become intriguing.</b></p><p>Before the Didi incident, in March this year, Huang Zheng stepped down as CEO of Pinduoduo; In May, Zhang Yiming stepped down as CEO of ByteDance.</p><p>Previously, many people regarded this as the result of Internet antitrust. But they missed a key thread:</p><p><b>Didi and Pinduoduo are both listed in the United States. As for ByteDance, Trump's ban on Tiktok says it all.</b></p><p><b>Tencent and Meituan, Ma Huateng and Wang Xing, which are listed in Hong Kong, have been seated as CEOs.</b></p><p>All the recent Internet shocks around us are sending a signal to us:</p><p><b>In the Sino-US stock market game, in the past, the United States actively attacked and China passively defended will become history. The determination and actions of China's regulation have already begun to appear.</b></p><p>Some Internet companies are still stuck in the inertial thinking of the previous 20 years; Some Internet companies have sailed to new ports.</p><p><b>They were destined for very different destinies.</b></p><p><img src=\"https://static.tigerbbs.com/a76220741e2982f75e2d7176ce362e38\" tg-width=\"1080\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1626307243676","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Past events of listing of Chinese Internet companies</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPast events of listing of Chinese Internet companies\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">吴杨野餐会</strong><span class=\"h-time small\">2021-07-15 08:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In 1983, Gang Liu graduated from Peking University Law School and was assigned to the Ministry of Justice Secretariat, where he was responsible for writing daily reports for the minister.</p><p>A year later, he felt that the job content was boring and wanted to apply for a transfer. He was advised that secretarial status might be easier to promote.</p><p>In 1985, the state carried out the reform of the \"third echelon\" cadres. The Ministry of Justice selected young cadres to train at the grass-roots level, and Liu Gang was included. He voluntarily gave up his position in the grass-roots organ and chose to be a grass-roots lawyer.</p><p>After the training period expired, colleagues returned to the Ministry of Justice to continue their careers, but Liu Gang did not go back. He chose to stay in the law profession.</p><p>At that time, China's lawyer profession was just emerging, and everything was still in the period of ignorance. Liu Gang's main business is debt collection.</p><p>Since then, he has lived the life of \"debt collector migrant worker\": squeezing the hard seat of the train for two days and two nights, sleeping in Datongpu for one dollar a night, running wildly to chase the debtor, and avoiding the thugs and beatings of the debtor...</p><p>The turning point came in 1989. The Department of Justice and the British Bar Association have jointly launched a training programme for lawyers. After applying and passing the examination, Liu Gang was selected to receive internship training at a law firm in London, England.</p><p>He wanted to do the intellectual property that was hot in China at that time. But a senior partner at a British law firm advised him: \"I suggest you know about capital markets.\" Liu asked: \"What is a capital market?\"</p><p><b>\"A country as big as China will have a capital market sooner or later.\"</b>The partner of the British law firm said.</p><p>In 1990, China ushered in its own capital market, and the Shanghai Stock Exchange and Shenzhen Stock Exchange opened successively.</p><p><img src=\"https://static.tigerbbs.com/99e63397642efd52b0b6a3d4dc5643f2\" tg-width=\"640\" tg-height=\"493\" referrerpolicy=\"no-referrer\"></p><p>▲ In the 1990s, investors lined up at the entrance of the Shanghai Stock Exchange</p><p>(Photo | Pan Sophie, China News Service)</p><p>Two years later, China liberalized restrictions on private partnership law firms. Liu Gang and two friends rented an office outside Jianguomen and started their own law firm: Commercial Law Firm.</p><p>In 2000, Liu Gang got a key opportunity in his career. At that time, Sina was shocking the Nasdaq listing. If successful, it would become the first Chinese internet company to go public in the US.</p><p>Sina's listed entity is registered in the Cayman Islands. However, Chinese law restricts foreign investment in the Internet: foreign investment in the Chinese Internet is prohibited, and foreign companies are prohibited from conducting Internet business in China.</p><p>To bypass these investment restrictions, Liu helped Sina design a complex control architecture. He connects foreign investors and Chinese companies through a series of complex legal contracts that enable overseas listed entities to control domestic operating entities through agreements without direct equity relationships.</p><p><b>Liu Gang used a paper VIE structure to open the curtain of overseas listing of Chinese Internet companies.</b></p><p>In April 2000, Sina successfully landed on NASDAQ in the United States. In June and July of the same year, Netease and Sohu successively completed the listing of Nasdaq. Liu Gang participated in the overseas listing of China's three major portals. This is very rare in the lawyer profession.</p><p>Since then, for more than 20 years, almost all Chinese Internet companies have been listed overseas, adopting the VIE structure of \"Sina mode\". As of May 2021, there were a total of 248 companies in China listed in the United States, with a combined market capitalization of up to $2.1 trillion. Among them, the number of Internet-related information technology companies is the largest, accounting for more than one quarter.</p><p><b>However, the VIE structure has also become the fulcrum of the stock market game between China and the United States in the next 20 years.</b></p><p>In Liu Gang's statement, the VIE structure \"enables overseas investment companies to control the operation of domestic companies without direct equity relationship\".</p><p>However, in the statement of the US Congress, the VIE structure \"ensures that economic benefits flow to foreign investors, while keeping operational control of the business in Chinese companies\".</p><p><b>This special structure has become a typical feature of Chinese stocks, and it has also laid the groundwork for controversy and crisis for Chinese Internet companies' overseas listing in 20 years.</b></p><p>The ten-year history of overseas listing after the global financial crisis in 2008 is the key to helping us understand the current situation of Chinese Internet companies. I've divided it into four phases, which are:</p><p><img src=\"https://static.tigerbbs.com/6e5b6f69c3b6db65256d2ee9f3c20b46\" tg-width=\"965\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p><p><b>01</b></p><p><b>Hunting Chinese Companies</b></p><p><b>The first round of overseas listing and short selling (2010-2013)</b></p><p>On November 1st, 2011, Zhou Hongyi rushed back to the company in the middle of the night, and called a bunch of corresponding supervisors such as website, browser, investor relations, finance, legal affairs and public relations.</p><p>At 9 o'clock that night, Citron Research, a short-selling institution, issued the first short-selling report against Qihoo 360 before the US stock market opened. One hour later, the report was sent to Zhou Hongyi. \"We were surprised when Citron shorted 360,\" he said.</p><p>On the same day, Qihoo 360's stock fell by about 10%.</p><p>Seven months ago, Qihoo 360 landed on the New York Stock Exchange. Along with it, a large number of Chinese companies have landed on the U.S. stock market.</p><p>After the 2008 financial crisis, the US economy has recovered rapidly since 2009, and the international capital market is active. At the same time, Chinese Internet companies are in a period of rapid expansion and are in urgent need of capital.</p><p>A large number of Internet companies rushed to the United States to seek listings.<b>From 2010 to 2012, Internet companies such as Gaode Map, Qihoo 360, Youku and Tudou successfully listed in the United States, starting an overseas boom of Chinese stocks.</b></p><p><img src=\"https://static.tigerbbs.com/53b96a1e444ead872f2cd9531b979af2\" tg-width=\"692\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>▲ Changes in the number of Chinese companies listed in the United States from 1970 to 2020</p><p>Data source: Zero2IPO Research Center</p><p>In 2010, a total of about 50 Chinese stocks landed in the US stock market, and the number of overseas listings of Chinese companies broke through the peak, which also attracted the attention of \"market vultures\" short-selling institutions.</p><p>Muddy Waters fires its first bullet. In 2010, Muddy Waters' founder Carson Block threw out a 30-page short-selling report of Oriental Paper, and Oriental Paper's stock price plummeted, and Muddy Waters became famous in the First War.</p><p>Subsequently, American short-selling institutions represented by Muddy Waters and Citron successively targeted Chinese stocks such as Focus Media, Qihoo 360 and New Oriental. Among them, Internet companies have become the hardest hit areas of hunted Chinese stocks.</p><p>Under this round of hunting by short-selling institutions, more than 40 Chinese enterprises had to suspend trading and delist.<b>China stocks collectively fall into a crisis of trust.</b></p><p><b>VIE is a key target for U.S. institutions to short Chinese companies.</b>\"There is a VIE structure in China's Internet industry. Americans think that you have no legal requirements, and they will always feel unsure,\" Zhou Hongyi said.</p><p>On July 17, 2012, New Oriental was investigated by the U.S. Securities and Exchange Commission (SEC) because of the adjustment of VIE structure. Muddy Waters immediately released a short-selling report of more than 90 pages, pointing out that New Oriental's VIE structure has huge hidden dangers and lacks control.</p><p>Within 48 hours, New Oriental's share price fell by 60%, and its share price hit a five-year low.</p><p>At the same time, the New Oriental incident caused the international market to worry about the VIE structure, and Chinese stocks generally plummeted. Ctrip, Sina, etc. fell by more than 7%, while Dangdang, Qihoo 360, Netease and Sohu fell by more than 4%.</p><p>After the outbreak of the short-selling tide of Chinese stocks, the US regulators made a further strong attack. In December 2012, the SEC initiated administrative proceedings against Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers and the China Division of BDO.</p><p>The SEC asked them to submit the audit papers of nine Chinese stocks listed in the United States, but the Big Five accounting firms refused this request. They were unwilling to violate Chinese laws.</p><p>The move has left Chinese companies listed in the United States in a position without auditors, forcing Chinese companies to delist.</p><p>The delisting tide of Chinese stocks is getting fiercer and fiercer. The number of Chinese companies listed in the United States decreased from more than 240 in 2010 to less than 200 in 2012.</p><p><img src=\"https://static.tigerbbs.com/2c640046a4853c23afbcdbf6ee3d55e5\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>▲ 2010-2012 U.S. Listed Chinese Concept Stocks Encountered Short-selling Wave</p><p>Source: Guosheng Securities</p><p>With frequent conflicts, China and the United States have included auditing cross-border law enforcement in the strategic economic dialogue. In 2013, the CSRC and the Ministry of Finance signed a law enforcement cooperation agreement with the Accounting Regulatory Commission for Listed Companies (PCAOB) of the United States to formally carry out cross-border law enforcement cooperation in audit.</p><p><b>However, the issue of data sovereignty and confidentiality remains a difficult contradiction between China and the United States.</b>All kinds of subsequent storms also arose because of this.</p><p><b>02</b></p><p><b>Shadows beneath the feast</b></p><p><b>Ali's Listing and the Storm of Censorship of China Concept Stocks (2014-2017)</b></p><p>In September 2014, Jack Ma entered United Nations Headquarters. One of the purposes of his trip was to meet with UN Secretary-General Ban Ki-moon through the recommendation of Hang Lung Group Chairman Chen Qizong.</p><p>The two of them stood at the entrance of the elevator. When Ban Ki-moon came up, Chen Qizong said this to Ma Yun:</p><p>\"I know that Ali was forced to go public in the United States. Hong Kong has no different rights to the same shares, so you can't help it.<b>But Jack Ma, you have to be careful, Americans have long, long hands. One day he will give you trouble.</b>”</p><p>A week ago, Alibaba was successfully listed on the New York Stock Exchange in the United States on September 19th. The revelry flooded Wall Street.</p><p>That night, on the big black screen of NYSE, the numbers representing Alibaba's opening price kept rolling and climbing-70... 80... 90...</p><p>\"Opening price 92.7!\" a voice shouted.</p><p>Jack Ma looked up and glanced excitedly at the numbers on the screen. He picked up the hammer and swiftly struck a golden bronze bell. The crowd surrounding him immediately cheered, flashing lights.</p><p>After more than 2 hours and 12 rounds of inquiry, Alibaba stock finally opened at 23: 53 that night. The opening price was $92.7, up 36.32% from the issue price of $68. The total amount of financing reached $34.125 billion, setting a record for IPO financing in global history. Alibaba's total market capitalization reached $228.5 billion, exceeding the GDP of more than 100 countries.</p><p><img src=\"https://static.tigerbbs.com/b666ad1064a3f877e706adaec7dfcd17\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p><p>▲ Jack Ma of Alibaba's US Listing Site in 2014</p><p><b>A number of American brokerages and international capital shared this capital feast.</b>Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and others are among them.</p><p>When Alibaba landed on the NYSE, SoftBank held 34.4% of the shares, making it the largest shareholder; Yahoo holds 22.6% of the shares, ranking second. According to the opening price of Alibaba's listing alone, the market value of SoftBank and Yahoo's holdings has reached $78.604 billion and $51.641 billion respectively, not counting the part they previously cashed out from Ali.</p><p>2014 is another peak for Chinese Internet companies to go public in the United States. In addition to Ali, JD.COM, Weibo, Tuniu, Zhaopin Recruitment, etc. have also landed on the New York Stock Exchange and Nasdaq in the United States. A total of 12 Internet companies have completed their listing in the United States throughout the year.</p><p>However, the month that Alibaba went public, the U.S. Congressional China Economic and Security Review Committee (UCESRC) issued a document entitled<b>Risks of Chinese Internet Companies on the U.S. Stock Exchange</b>The investigation report of.</p><p>The report uses 17 pages to point out the risks of listing of Chinese Internet companies, pointing out that the VIE structure is untrustworthy. \"Many U.S. legal experts believe that the VIE structure is technically illegal under Chinese law and advise U.S. investors against such investments,\" the UCESRC declared.</p><p>On the night of Double Eleven in the same year, Jack Ma accepted a 20-minute media interview at Ali's headquarters in Hangzhou. When he talked about Alipay's listing, he directly stated his position:<b>\"For various reasons, Alibaba has no way to be listed on A shares, so we hope that Alipay can be listed on China's A shares in the future.\"</b></p><p>Obviously, Jack Ma understood Chen Qizong's words. To further understand this statement, we still need to pull the timeline back to the Alipay split event three years ago.</p><p>In the first quarter of 2011, the People's Bank of China required payment companies applying for payment licenses to make a declaration on the percentage of foreign ownership. In May, Jack Ma changed the ownership of Alipay and terminated Alibaba Group's control agreement over Zhejiang's Alibaba. Zhejiang Alibaba is the wholly-owned holding company of Alipay. Which means,<b>Alipay has changed from a foreign-controlled company to a purely domestic company.</b></p><p><img src=\"https://static.tigerbbs.com/86b9f8383885bec01116a82dcc7cc0da\" tg-width=\"449\" tg-height=\"329\" referrerpolicy=\"no-referrer\"></p><p>▲ Alipay Spin-off Equity Change</p><p>However, this round of equity change in Jack Ma has not reached an agreement with the board of directors before. After the boat was done, Jack Ma paid corresponding compensation to Yahoo and SoftBank, the two major shareholders.</p><p>On July 29th, 2011, Alibaba Group, Yahoo and SoftBank formally signed an agreement on the equity transfer of Alipay. Alipay Holdings promised to give Alibaba Group a one-time cash return when it went public. The return is 37.5% of the total market value of Alipay's IPO price at the time of listing, which is not less than US$2 billion and not more than US$6 billion.</p><p>For this reason, Jack Ma bears the stigma of \"dishonesty\" and \"cracking down on foreign investors' confidence in VIE of Chinese stocks\". He rarely took the initiative to accept a large-scale exclusive interview with domestic media, and came forward to explain that everything was to obtain a payment license for Alipay compliance.</p><p>\"I said, brother, if you start a small joint venture, it doesn't matter.<b>You are engaged in Alipay, which is finance, and it is more and more touching sensitive areas. Finance is data, and something will go wrong.</b>Jerry Yang didn't believe it, but then they did. \" Jack Ma said in an exclusive interview with Esquire.</p><p>But at the time, most people thought that Jack Ma was using the government as a shield, and mostly mocked it. Jack Ma quit Weibo in anger.</p><p>Before withdrawing, Jack Ma sent out one last tweet. No text, just punctuation:<b>Question marks, exclamation marks, and a string of ellipses</b>。</p><p>Three years after the spin-off of Alipay, Ant Financial was established in 2014 to enter inclusive finance from the payment field.</p><p>Six years later, just before Ant went public, Jack Ma gave that famous speech at the Bund Financial Summit at the end of October 2020. On November 3rd, Shanghai Stock Exchange and Hong Kong Stock Exchange successively issued emergency notices to suspend the listing of Ant Financial Science and Technology Innovation Board and H shares.</p><p>At this moment, everyone suddenly realized.<b>Nine years ago, Jack Ma did not overestimate the Chinese government's resolve.</b></p><p><b>03</b></p><p><b>Torrent into the sea</b></p><p><b>New Economic Reform of A Shares and H Shares (2018-2019)</b></p><p>During the two sessions in 2018, Liu Shiyu, then chairman of China Securities Regulatory Commission, said when talking about the overseas listing of China's new economy companies that due to the specific institutional environment and market capacity at that time, some new economy enterprises in China chose to list overseas, which was a good thing. But it is also a pity that the country has not enjoyed the fruits of their growth.</p><p><b>\"In a new era, this regret can't happen again.\"</b>Liu Shiyu said.</p><p>\"If you stand on the wind, even pigs will fly.\" Lei Jun, who said this sentence, once again pushed Xiaomi into the forefront of the times.<b>He wants Xiaomi to become the first Internet company to list A shares in the mainland and H shares in Hong Kong simultaneously.</b></p><p>On May 3, 2018, Lei Jun held two Xiaomi mobile phones and personally flew to Hong Kong to visit Li Ka-shing, the richest man in Hong Kong. On the same day, Xiaomi submitted its listing prospectus to HKEx. Li Ka-shing loves to confirm Huo Jianning to the media that Li Ka-shing spent HK$230 million to subscribe for Xiaomi shares. In addition to Li Ka-shing, two domestic Internet giants, Jack Ma and Ma Huateng, also subscribed for Xiaomi shares.</p><p><img src=\"https://static.tigerbbs.com/c1dfd540577403bd287f47c1209b66c3\" tg-width=\"460\" tg-height=\"304\" referrerpolicy=\"no-referrer\"></p><p>▲ Lei Jun Meets with Li Ka-shing</p><p>In the mainland, Xiaomi has set a 12-day \"lightning\" record. On June 7th of the same year, Xiaomi applied to China Securities Regulatory Commission to issue CDR (depositary receipt) for listing, which was accepted on the same day. On the 14th, Xiaomi updated its prospectus, and received feedback from the CSRC that night, which is scheduled to be reviewed on the 19th.</p><p>At that time,<b>China Securities Regulatory Commission and Hong Kong Stock Exchange are scrambling to promote the listing reform of the new economy.</b></p><p>In December 2017, HKEx issued the Market Consultation Summary of the Framework Consultation Document on the Proposed Establishment of Innovation Board, announcing the acceptance of new economy companies with different voting rights structures to list in Hong Kong.</p><p>Three months later, the General Office of the State Council forwarded the \"Several Opinions on Carrying out the Pilot Program of Domestic Issuance of Shares or Depositary Receipts by Innovative Enterprises\" issued by the CSRC, allowing new economy enterprises listed overseas to issue CDRs (Depositary Receipts) in the mainland A-share market, and promoting new economy enterprises including the Internet to return to A-share listing.</p><p>However, Xiaomi was suddenly stopped listing in CDR in the mainland. On June 14, 2018, the CSRC issued 84 questions against Xiaomi. Five days later, Xiaomi announced that it would postpone the meeting of the Issuance Examination Committee to review the company's CDR issuance application. After listing in Hong Kong first, choose the opportunity to list in China by issuing CDRs.</p><p>The Hong Kong listing was also full of twists and turns. On July 9th of that year, Xiaomi completed its listing on the Hong Kong Stock Exchange. On the day of listing, Xiaomi shares were included in the composite constituent stocks of Hang Seng Index, and according to normal circumstances, they will enter Hong Kong Stock Connect, allowing mainland Chinese investors to directly buy Xiaomi shares.</p><p>Unexpectedly, the Shanghai and Shenzhen Stock Exchanges suddenly issued a notice on July 14th, temporarily refusing companies with different rights, foreign company stocks and stapled securities to be included in the scope of Hong Kong Stock Connect on the grounds that \"mainland investors are unfamiliar\". Xiaomi was turned away.</p><p>Two days later, Li Xiaojia, CEO of Hong Kong Stock Exchange, flew from Hong Kong to Beijing in an emergency to meet and negotiate with the relevant person in charge of China Securities Regulatory Commission. \"We have been communicating with the mainland Securities Regulatory Commission for weeks and months. It is best to package it all this time and move forward according to the normal procedures of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. However, mainland exchanges may have some different opinions.\" Li Xiaojia said.</p><p><b>This dispute is related to the future direction of listing of Chinese Internet companies. Can the door open to a new era?</b></p><p>For a long time, Chinese Internet companies have only had one option to list in the United States, because mainland A shares and Hong Kong H shares did not accept the same share structure with different rights in the past. Even if the HKEx is determined to reform, poor liquidity will still become a key constraint for Internet companies to go public in Hong Kong.</p><p>Only when Hong Kong Stock Connect accepts new economy companies and huge amounts of money from mainland China can go south, can the door of the Eastern World truly open to Internet companies.</p><p><b>The storm is temporary, and the direction is certain.</b></p><p>In 2018, HKEx regained the first place in the global exchange IPO ranking, and the annual IPO fund-raising amount reached HK$277.85 billion, a new high since 2010.</p><p>A total of 28 new economy companies and biotechnology companies were listed in Hong Kong throughout the year. Among them, Xiaomi and Meituan ranked the second and third largest companies in Hong Kong with HK$42.61 billion and HK$33.14 billion, respectively.</p><p>In October 2019, Shanghai Stock Exchange and Shenzhen Stock Exchange announced that Xiaomi and Meituan were included in Hong Kong Stock Connect.</p><p>Taking advantage of this momentum, Chinese Internet companies, including Ali, Netease and JD.COM, have returned from overseas and rushed to go to Hong Kong for secondary listing. By 2021, the Hong Kong market has gathered eight Internet giants: Tencent, Ali, Meituan, Aauto Quicker, JD.COM, Xiaomi, Baidu and Netease.</p><p><img src=\"https://static.tigerbbs.com/dd1e5900f6cb5582296cd123573d40b6\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>Source: HKEX</p><p>At the same stage, the listing of Chinese Internet companies in the United States ushered in the third peak. In 2018 and 2019, 38 and 32 Chinese companies went public in the United States respectively, most of which were mainly Internet new economy enterprises, including iQiyi, Douyu, Netease Youdao and so on.</p><p>In October 2019, China and the United States reached a consensus on the acquisition of audit work papers of listed companies in the United States audited by Hong Kong accounting firms and deposited in Mainland China. In response to a reporter's question, the CSRC said that the two sides \"maintain a smooth cooperative relationship\".</p><p>Everything seemed thriving.</p><p>People didn't expect that just a year later,<b>New crises, like volcanic lava, have accumulated for a long time and gushed out</b>。</p><p><b>04</b></p><p><b>New Crisis Age</b></p><p><b>The Dilemma and Future of Didi, Byte and Pinduoduo (2020-Today)</b></p><p>July 1st, the 100th anniversary of the founding of the Party. In the early morning of the same day, Didi went public in the United States and raised $4.4 billion.</p><p>This is the largest IPO of a Chinese company in the United States since 2014. There are no bell-ringing photos, no announcement on official website, few media reports, and employees don't post friends.</p><p>On July 2nd, China's Cyber Security Review Office issued an announcement stating that in order to prevent national data security risks, safeguard national security and protect public interests, Didi Chuxing will be reviewed for cyber security in accordance with the National Security Law and Cyber Security Law. During the review period, \"Didi Chuxing\" stopped new user registration. Didi's listing only appeared on Weibo hot search and media headlines.</p><p>On July 9th, all 25 apps of Didi Company were removed from the shelves.</p><p>Ray Dalio, founder of Bridgewater, the world's largest hedge fund, once published a 20,000-word article entitled \"The Changing World Order\" on his LinkedIn homepage. He pointed out that the \"Populism Index\", a measure of global conflict, has now reached an all-time high.</p><p>\"We are heading into an abyss of polarization and populism,\" Dalio warned,<b>The polarization between rich and poor, political polarization and ultra-nationalism we face today are very similar to those of World War II.</b></p><p><img src=\"https://static.tigerbbs.com/82a4ead3b25817350b19c65a0fb2c2ba\" tg-width=\"864\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>▲ The polarization between the rich and the poor leads to extreme nationalism, which is similar to that of World War II</p><p>Source: Bridgewater</p><p>On March 25, 2021, the Securities and Exchange Commission (SEC) issued an announcement passing a final amendment to the Foreign Company Accountability Act (HFCAA). The bill provides that,<b>Foreign issuers who fail to meet the U.S. Public Company Accounting Oversight Board (PCAOB) requirements for inspection of accounting firms for three consecutive years will be delisted.</b></p><p>Chinese Foreign Ministry spokeswoman Hua Chunying responded at a press conference: \"HFCAA is completely an unreasonable political suppression of Chinese listed companies in the United States, seriously distorting the basic norms of market economy that the United States has always advertised, and also depriving American investors and the American public of the opportunity to share the development dividends of Chinese enterprises.\"</p><p>According to the official data of PCAOB in the United States, as of April 2020,<b>Among the foreign listed companies that do not accept PCAOB inspection audit papers, companies in mainland China and Hong Kong account for nearly 90%.</b></p><p>Didi successfully threw itself into the eye of the typhoon in the storm of the Sino-US stock market game with its silent listing.</p><p>On July 7th, WeChat official account, a subsidiary of People's Daily, published two reports commenting on the Didi incident: \"Didi is far from the level of employment to make the government. If Didi dies later, the driver changes a platform to take orders, and we change a platform to take a taxi, and our life will not be affected in any way.\"</p><p>On July 8, U.S. Democratic Senator Chris Van Hollen called on the SEC to thoroughly investigate Didi's listing.</p><p><b>The Internet is in an eventful time. Some things look together and become intriguing.</b></p><p>Before the Didi incident, in March this year, Huang Zheng stepped down as CEO of Pinduoduo; In May, Zhang Yiming stepped down as CEO of ByteDance.</p><p>Previously, many people regarded this as the result of Internet antitrust. But they missed a key thread:</p><p><b>Didi and Pinduoduo are both listed in the United States. As for ByteDance, Trump's ban on Tiktok says it all.</b></p><p><b>Tencent and Meituan, Ma Huateng and Wang Xing, which are listed in Hong Kong, have been seated as CEOs.</b></p><p>All the recent Internet shocks around us are sending a signal to us:</p><p><b>In the Sino-US stock market game, in the past, the United States actively attacked and China passively defended will become history. The determination and actions of China's regulation have already begun to appear.</b></p><p>Some Internet companies are still stuck in the inertial thinking of the previous 20 years; Some Internet companies have sailed to new ports.</p><p><b>They were destined for very different destinies.</b></p><p><img src=\"https://static.tigerbbs.com/a76220741e2982f75e2d7176ce362e38\" tg-width=\"1080\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/QItPs3pB6CJ5Dn89MQYL2A\">吴杨野餐会</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1fc1f5e2fa377c378fa230c10e0849a2","relate_stocks":{"160636":"互联网","161025":"移动互联"},"source_url":"https://mp.weixin.qq.com/s/QItPs3pB6CJ5Dn89MQYL2A","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111811630","content_text":"1983年，刘钢从北京大学法学院毕业，被分配到司法部秘书处，负责为部长撰写日常报告。\n一年后，他感觉工作内容枯燥，想申请调职。有人劝告他，秘书身份可能会更容易得到提升。\n1985年，国家推行“第三梯队”干部改革。司法部挑选年轻干部到基层锻炼，刘钢被列入其中。他主动放弃了基层机关的岗位，选择做一名基层律师。\n锻炼期满，同事们纷纷回到司法部继续职业生涯，但刘钢没有回去。他选择留在律师行业。\n当时，中国律师行业刚刚兴起，一切尚在蒙昧期。刘钢的主要业务是讨债。\n从此，他过上了“讨债民工”的生活：两天两夜挤火车硬座，睡一块钱一晚的大通铺，狂奔追赶欠款人，躲避债务人的打手与围殴……\n转折点出现在1989年。司法部和英国律师协会联合启动一个律师培训项目。刘钢申请并通过考试后，被选派往英国伦敦的一家律师事务所接受实习培训。\n他想做当时在中国大热的知识产权。但英国律所的一位高级合伙人建议他：“我建议你了解一下资本市场。”刘钢问：“什么是资本市场？”\n“中国那么大的国家，早晚会有资本市场。”那位英国律所合伙人说。\n1990年，中国迎来属于自己的资本市场，上海交易所和深圳交易所先后开业。\n\n▲1990年代，股民在上海交易所门口排队\n（摄影 | 中新社 潘索菲）\n两年后，中国放开私人合伙制律师事务所限制。刘钢和两个朋友在建国门外租下一间办公室，创办起自己的律师事务所：通商律师事务所。\n2000年，刘钢得到职业生涯的一次关键机会。当时新浪正在冲击纳斯达克上市。如果成功，它将成为第一家在美国上市的中国互联网公司。\n新浪的上市主体注册在开曼群岛。但中国法律对外资进入互联网领域存在限制：禁止外资投资中国互联网，也禁止外国公司在中国开展互联网业务。\n为了绕过这些投资限制，刘钢帮助新浪设计了一套复杂的控制架构。他将外国投资者和中国公司通过一系列复杂的法律合同相连接，使海外上市实体在没有直接股权关系下，通过协议控制国内的运营实体。\n刘钢用一纸VIE架构，拉开中国互联网公司海外上市的大幕。\n2000年4月，新浪成功登陆美国纳斯达克。同年6月、7月，网易和搜狐相继完成纳斯达克上市。中国三大门户网站海外上市，刘钢均参与其中。这在律师行业非常罕见。\n此后20余年，几乎所有中国互联网公司海外上市，均采取“新浪模式”的VIE架构。截至2021年5月，中国共有248家公司在美国上市，总市值高达2.1万亿美元。其中互联网相关的信息技术公司数量最多，比例达四分之一以上。\n然而，VIE架构也成为今后20年中美两国股市博弈的支点。\n在刘钢的表述里，VIE架构“使境外投资公司在没有直接股权关系的情况下，控制国内公司的运营”。\n但在美国国会的表述中，VIE 架构则“保证了经济利益流向外国投资者，同时对业务的经营控制留在中国公司”。\n这种特殊架构，成为中概股的典型特征，也为中国互联网公司20年海外上市路埋下争议与危机的伏笔。\n08年全球金融危机后的十年海外上市史，是帮助我们理解中国互联网公司目前处境的关键。我将其分为四个阶段，分别为：\n\n01\n围猎中国公司\n第一轮海外上市与做空潮（2010—2013）\n2011年11月1日，周鸿祎半夜赶回公司，把网址站、浏览器、投资者关系、财务、法务、公关等相应一堆主管都叫了过来。\n当晚9点，做空机构香橼研究（Citron Research）赶在美国股市开市前，发出了针对奇虎360公司的第一份做空报告。1个小时后，报告送到周鸿祎手中。“Citron做空360时，我们觉得很惊讶。”他表示。\n当天，奇虎360的股票跌去约10%。\n7个月前，奇虎360登陆美国纽交所上市。和它一同登陆美国股市的，还有一大批中国公司。\n08年金融危机后，美国经济2009年起快速复苏，国际资本市场活跃。同一时期，中国互联网公司正在飞速扩张期，迫切需要资金。\n大批互联网公司奔赴美国寻求上市。从2010年到2012年，高德地图、奇虎360、优酷、土豆等互联网公司先后成功在美国上市，开启海外的中概股热潮。\n\n▲1970-2020年中国公司赴美上市数量变化\n数据来源：清科研究中心\n2010 年共计约 50 家中概股登陆美股市场，中国公司海外上市的数量突破峰值，也吸引了“市场秃鹫”做空机构们的目光。\n浑水公司（Muddy Waters）射出第一颗子弹。2010 年，浑水创始人卡森·布洛克（Carson Block）抛出一份30页的东方纸业做空报告，东方纸业股价大跌，浑水一战成名。\n随后，以浑水、香橼为代表的美国做空机构，相继把枪口瞄准了分众传媒、奇虎360、新东方等中概股。其中互联网公司成为被围猎的中概股重灾区。\n此轮做空机构围猎下，超过 40 家中国企业不得不停牌、退市。中概股集体陷入信任危机。\nVIE是美国机构做空中国公司的一个关键靶子。“中国互联网行业存在VIE结构。美国人认为你没有法律规定，就永远觉得心里没底。”周鸿祎说。\n2012年7月17日，新东方因为VIE架构调整，遭受美国证券交易委员会（SEC）调查。浑水随即发布一份长达90多页的做空报告，指出新东方VIE结构存在巨大隐患，缺乏控制力。\n48小时内，新东方股价跌去60%，股价创5年新低。\n新东方事件同时引发国际市场担忧VIE架构，中概股普遍大跌。携程、新浪等跌幅超过7%，当当网、奇虎360、网易、搜狐等跌幅超过4%。\n中概股做空潮爆发后，美国监管方进一步强势出击。2012年12月，SEC 对德勤、安永、毕马威、普华永道，以及德豪五大会计师事务所中国分部发起行政诉讼。\nSEC要求他们提交9家在美上市的中概股审计底稿，但五大会计师事务所拒绝了这一要求，他们不愿触犯中国法律。\n这一举动导致在美上市的中国企业陷入没有审计方的境地，迫使中国公司摘牌退市。\n中概股退市潮越演越烈。在美上市的中国公司由2010的240余家，减少到2012年的不足200家。\n\n▲ 2010-2012年美国上市中概股遭遇做空潮\n数据来源：国盛证券\n冲突频发，中美两国将审计跨境执法纳入战略经济对话。2013 年，中国证监会和财政部与美国上市公司会计监管委员会（PCAOB） 签订执法合作协议，正式开展审计跨境执法合作。\n但数据主权和保密问题仍是中美难以协调的矛盾。后续种种风波，也因此而起。\n02\n盛宴下的暗影\n阿里上市与中概股审查风暴（2014—2017）\n2014年9月，马云步入联合国总部。他此行的目的之一，是通过恒隆集团董事长陈启宗引荐，与联合国秘书长潘基文见面。\n他们两个人站在电梯口，等潘基文上来时，陈启宗对马云说了这样一番话：\n“我知道阿里到美国上市是被逼的，香港没有同股不同权，你是没办法。但是马云你要小心，美国人的手是伸的很长很长的。总有一天他会给你麻烦。”\n一个星期前，阿里巴巴9月19日在美国纽交所成功挂牌上市。狂欢充斥着整个华尔街。\n当晚，纽交所黑色大屏幕上，代表阿里巴巴开盘价的数字不断滚动，持续攀升——70……80……90……\n“开盘价92.7！”一个声音大喊。\n马云抬起头，兴奋地看了一眼屏幕上的数字。他拿起锤子，快速敲击着一个金色铜钟。包围着他的人群随即欢呼起来，闪光灯此起彼伏。\n经过2个多小时、12轮询价，阿里巴巴股票在当晚23点53分最终开盘。开盘价92.7美元，比起发行价68美元大涨36.32%。融资总金额高达341.25亿美元，创下全球历史上IPO融资最高纪录。阿里巴巴总市值达到2285亿美元，超过100多个国家的GDP。\n\n▲ 2014年阿里巴巴美国上市现场的马云\n多家美国券商和国际资本分享了这次资本盛宴。花旗、瑞士信贷、德意志银行、高盛、摩根大通、摩根士丹利等均位列其中。\n阿里巴巴登陆纽交所时，软银持股34.4%，为第一大股东；雅虎持股比例22.6%，居第二位。仅按阿里巴巴上市开盘价来算，软银和雅虎的持股市值已分别高达786.04亿美元和516.41亿美元，这还不算他们此前从阿里套现的部分。\n2014年是中国互联网公司赴美上市的又一波高峰。除了阿里，京东、微博、途牛、智联招聘等也先后登陆美国纽交所和纳斯达克，全年共有12家互联网公司在美完成上市。\n然而，就在阿里巴巴上市当月，美国国会中国经济与安全审查委员会（UCESRC）发布了一份名为《中国互联网公司在美国证券交易所的风险》的调查报告。\n报告用17页篇幅指出针对中国互联网公司上市的各项风险，直指VIE架构不值得信任。UCESRC宣称：“许多美国法律专家认为，根据中国法律，VIE 结构在技术上是非法的，并建议美国投资者不要进行此类投资。”\n同年双十一当晚，马云在杭州阿里总部接受20分钟的媒体采访，谈到支付宝上市时直接表态：“由于各种原因，阿里巴巴没有办法在A股上市，所以我们希望未来支付宝能够在中国A股上市。”\n显然，马云听懂了陈启宗的话。而要进一步理解这个表态，我们还需要把时间线拉回到三年前的支付宝拆分事件上。\n2011 年第一季度，中国央行要求申请支付牌照的支付企业对外资的持股比例作出声明。5月，马云变更支付宝的所有权，终止了阿里巴巴集团对浙江阿里巴巴的控制协议。浙江阿里巴巴为支付宝的全资控股公司。这意味着，支付宝从外资控股变为了一家纯内资公司。\n\n▲ 支付宝分拆股权变更\n但马云此轮股权变更，此前并未跟董事会达成协议。木已成舟后，马云对雅虎和软银两位大股东给出了相应补偿。\n2011 年 7 月 29 日，阿里巴巴集团、雅虎和软银就支付宝股权转让事件正式签署协议。支付宝控股公司承诺上市时给以阿里巴巴集团一次性的现金回报。回报额为支付宝上市时 IPO 价总市值的 37.5%，不低于 20 亿美元且不超过 60 亿美元。\n马云为此背上“不守诚信”，“打击国外投资者对中概股VIE信心”的骂名。他罕见地主动接受国内媒体大篇幅独家专访，出面解释一切都是为了支付宝合规获取支付牌照。\n“我说，兄弟，你如果搞个小合资企业，没关系。你搞的是支付宝，是金融，越来越触及到敏感地带。金融是数据，一定会出问题的。杨致远不相信，但后来他们相信了。”马云在接受《时尚先生》专访时说。\n但当时，大多数人认为马云是拿政府做挡箭牌，对此抱以讥笑嘲讽居多。马云愤而退出微博。\n退出前，马云发出了最后一条微博。没有文字，只有标点：问号，叹号，以及一串省略号。\n支付宝分拆三年后，2014年蚂蚁金服成立，从支付领域进军普惠金融。\n六年后，就在蚂蚁金服上市前夕，马云2020年10月底在外滩金融峰会做出了那篇著名的演讲。11月3号，上交所和港交所先后发出紧急通知，暂缓蚂蚁金服科创板和H股上市。\n这时，大家才恍然大悟。九年前，马云没有高估中国政府的决心。\n03\n洪流入海\nA股、H股新经济改革（2018-2019）\n2018年两会期间，时任中国证监会主席刘士余谈到中国新经济公司海外上市时称，限于当时的特定制度环境和市场容量，一些主体在中国的新经济企业选择到境外上市，这是好事。但国内没有享受到它们增长的成果，也是一个遗憾。\n“进入新时代，这个遗憾就不能再发生了。”刘士余说。\n“站在风口上，猪都会飞。”说出这句话的雷军，再一次把小米推上时代风口。他要让小米成为第一个内地A股和香港H股同步上市的互联网公司。\n2018年5月3日，雷军手握两款小米手机，亲自飞往香港拜访香港首富李嘉诚。就在同一天，小米向港交所递交上市招股书。李嘉诚爱将霍建宁向媒体证实，李嘉诚斥资2.3亿港元认购小米股票。除了李嘉诚，国内两大互联网巨头马云、马化腾也一同认购小米股票。\n\n▲ 雷军会见李嘉诚\n在内地，小米更是创下12天“闪电”上会记录。同年6月7日，小米向中国证监会申请发行CDR（存托凭证）上市，同天被受理。14日，小米更新招股说明书，当晚收到证监会下发的反馈意见，定于19日上会审核。\n彼时，中国证监会和港交所正在争相推进新经济上市改革。\n2017年12月，港交所发布《有关建议设立创新板的框架咨询文件》的市场《咨询总结》，宣布接纳采用不同投票权架构的新经济公司赴港上市。\n3个月后，国务院办公厅转发证监会《关于开展创新企业境内发行股票或存托凭证试点的若干意见》，允许在境外上市的新经济企业在内地A股市场发行CDR（存托凭证），推动包括互联网在内的新经济企业回归A股上市。\n然而，小米突然被叫停在内地CDR上市。2018年6月14日，证监会针对小米发出84问。五天后，小米宣布，推迟召开发审委会议审核公司的CDR发行申请。先在香港上市之后，再择机通过发行CDR的方式在境内上市。\n香港上市也一波三折。当年7月9日，小米公司在港交所完成上市。上市当天，小米股票被纳入恒指综合成分股，按照正常情况将进入港股通，允许中国内地投资者直接购买小米股票。\n不料沪深交易所在7月14日突然发出通知，以“内地投资者不熟识”为由，暂拒同股不同权公司、外国公司股票及合订证券纳入港股通范围。小米公司被拒之门外。\n两天后，港交所CEO李小加紧急从香港飞往北京，与中国证监会相关负责人碰面谈判。“一直几个星期、几个月来我们都在跟内地证监会沟通，最好这次都包进去，按正常沪港通、深港通程序往前走。但是内地交易所可能有些不同意见。”李小加说。\n这次争端，关系着中国互联网公司上市的未来走向。通往新时代的大门能否打开？\n中国互联网公司长期只有赴美上市一个选择，皆因内地A股和香港H股过去不接受同股不同权架构。即使港交所锐意改革，流动性差仍将成为互联网公司赴港上市的关键掣肘。\n只有港股通接纳新经济公司，来自中国内地的巨量资金得以南下，东方世界的大门才能真正面向互联网公司开启。\n风波是暂时的，方向是确定的。\n2018年，港交所重新摘下全球交易所IPO排行榜第一名桂冠，全年IPO募资额高达2778.5亿港元，创下2010年以来新高。\n全年共有28家新经济公司及生物科技公司赴港上市。其中小米和美团以426.1亿港元和331.4亿港元，分列香港上市募资额年度第二、第三大公司。\n2019年10月，上交所与深交所发布公告，小米和美团纳入港股通。\n乘此势头，包括阿里、网易、京东等在内的中国互联网公司纷纷从海外回归，争相赴港二次上市。到2021年，香港市场已经集齐腾讯、阿里、美团、快手、京东、小米、百度、网易八大互联网巨头。\n\n数据来源：香港交易所\n同一阶段，中国互联网公司赴美上市迎来第三次高峰。2018年和2019 年分别有38 家和32 家中国公司赴美国上市，其中大多以互联网新经济企业为主，包括爱奇艺、斗鱼、网易有道等等。\n2019年10月，中美双方就香港会计师事务所审计的、存放在中国内地的在美上市公司审计工作底稿调取事宜达成共识。中国证监会答记者问时表示，双方“保持着畅通的合作关系”。\n一切都显得欣欣向荣。\n人们没有料到，就在一年之后，新的危机如火山熔岩般，积蓄已久，喷涌而出。\n04\n新危机时代\n滴滴、字节、拼多多们的困境与未来（2020-今天）\n7月1日，建党100周年大庆。当天凌晨，滴滴赴美上市，融资44亿美元。\n这场自2014年来中国公司在美国最大的IPO，没有敲钟照片，官网没有公告，媒体少有报道，员工不发朋友圈。\n7月2号，中国网络安全审查办公室发布公告称，为防范国家数据安全风险，维护国家安全，保障公共利益，依据《国家安全法》《网络安全法》对“滴滴出行”实施网络安全审查。审查期间“滴滴出行”停止新用户注册。滴滴上市，才出现在微博热搜和媒体头条上。\n7月9日，滴滴公司旗下25款app全体下架。\n全球最大的对冲基金桥水基金创始人瑞·达利欧（Ray Dalio）曾在其领英主页上发布2万字长文《改变中的世界秩序》。他指出，衡量全球冲突的“民粹主义指数”（Populism Index）如今已经达到历史高点。\n“我们正在走向两极分化和民粹主义的深渊。”达利欧警告，今天我们面对的贫富分化、政治两极化和极端民族主义，和二战时期极为相似。\n\n▲ 贫富分化导致极端民族主义，现阶段与二战时期类似\n数据来源：桥水基金\n2021年3月25日，美国证券交易委员会（SEC）发布公告，通过《外国公司问责法案》（HFCAA）最终修正案。法案规定，外国发行人连续三年不能满足美国公众公司会计监督委员会（PCAOB）对会计师事务所检查要求的，将被摘牌退市。\n中国外交部发言人华春莹在记者会上回应称：“HFCAA完全是对中国在美上市企业的无理政治打压，严重扭曲美国自己一向标榜的市场经济基本准则，也剥夺了美国投资者和美国公众分享中国企业发展红利的机会。”\n美国PCAOB官方数据显示，截止到2020年4月，不接受PCAOB检查审计底稿的外国上市企业中，中国内地和香港的企业占近90%。\n滴滴用静默上市，成功把自己扔进了中美股市博弈风暴中的台风眼。\n7月7日，人民日报旗下“踏浪青年”公众号，连发两篇报道评论滴滴事件：“滴滴远没有到挟就业以令政府的程度。如果之后滴滴死了，司机换一个平台接单，我们换一个平台打车，生活不会受到任何影响。”\n7月8日，美国民主党参议员Chris Van Hollen呼吁美国证交会彻底调查滴滴上市事件。\n互联网正值多事之秋。一些事情连起来看，变得耐人寻味。\n滴滴事件之前，今年3月，黄峥卸任拼多多CEO；5月，张一鸣卸任字节跳动CEO。\n此前不少人将这看做互联网反垄断的结果。但他们忽略了一条关键线索：\n滴滴、拼多多均在美国上市。至于字节跳动，特朗普对Tiktok的禁令就已经说明了一切。\n而在香港上市的腾讯与美团，马化腾和王兴至今安坐CEO之位。\n最近所有在我们身边接连发生的互联网震动，都在向我们传递出一个信号：\n中美股市博弈中，过去美国积极进攻，中国被动防守的局面将成为历史。中国监管的决心和行动，已经初露端倪。\n有的互联网公司，还停留在前20年的惯性思维里；有的互联网公司已经驶向新港口。\n他们注定迎来截然不同的命运。","news_type":1,"symbols_score_info":{"160636":0.9,"161025":0.9}},"isVote":1,"tweetType":1,"viewCount":943,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146984798,"gmtCreate":1626049752614,"gmtModify":1703752260463,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good!","listText":"good!","text":"good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/146984798","repostId":"2150730081","repostType":4,"repost":{"id":"2150730081","kind":"news","pubTimestamp":1626018640,"share":"https://ttm.financial/m/news/2150730081?lang=en_US&edition=fundamental","pubTime":"2021-07-11 23:50","market":"us","language":"zh","title":"Virgin Galactic founder Branson successfully goes to space and becomes the first founder of a commercial space company to board space","url":"https://stock-news.laohu8.com/highlight/detail?id=2150730081","media":"新浪科技","summary":"新浪科技讯 北京时间7月11日23时40分，太空旅游公司维珍银河创始人、70岁的理查德·布兰森 搭乘太空船二号成功从85.9公里高的轨道返回，成为首位登上太空的商业航天企业创始人，比蓝色起源创始人贝佐斯早9天，同时布兰森也成为年龄第二大的宇航员！联邦政府尚未对维珍银河的太空飞机这类航天器乘客的安全采取任何规定。","content":"<p><img src=\"https://static.tigerbbs.com/744a5b09b34b580be9df2654b1b2c619\" tg-width=\"640\" tg-height=\"368\" referrerpolicy=\"no-referrer\"><a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>Founders officially kick off their journey into space</p><p><a href=\"https://laohu8.com/S/SINA\">SINA</a>At 23: 40 on July 11th, Beijing time, 70-year-old Richard Branson, founder of space tourism company Virgin Galactic, successfully returned from an orbit of 85.9 kilometers on Spacecraft 2, becoming the first founder of a commercial aerospace enterprise to board space, 9 days before Bezos, founder of Blue Origin. At the same time, Branson also became the second oldest astronaut!</p><p><img src=\"https://static.tigerbbs.com/ec12f8461cc81f690254dc459b861503\" tg-width=\"630\" tg-height=\"359\" referrerpolicy=\"no-referrer\"></p><p><h2></h2><img src=\"https://static.tigerbbs.com/5e99c795c5f8aa295bc0b0bb1d1c5734\" tg-width=\"550\" tg-height=\"325\" referrerpolicy=\"no-referrer\"></p><p><h2>White Knight takeoff screen on Spacecraft Two</h2>At 22: 40 pm on the 11th, Beijing time, the carrier aircraft White Knight (VMS Eve) took off on Unity 22. \"(This is) a historic moment for Virgin Galactic, a historic moment for commercial travel in space, a historic moment for Richard Branson,\" Micheal Korgrazier said in a livestreamed interview.</p><p><img src=\"https://static.tigerbbs.com/1ff4c2360fe55e93a4da3d838edbcd65\" tg-width=\"630\" tg-height=\"342\" referrerpolicy=\"no-referrer\"></p><p><h2></h2><img src=\"https://static.tigerbbs.com/6cc60b640c7da4e473610a5710d557c9\" tg-width=\"630\" tg-height=\"355\" referrerpolicy=\"no-referrer\"></p><p><h2>Rocket engine ignition takeoff screen after Spacecraft 2 separates from White Knight</h2>About 15 minutes later, Unity 22 successfully separated from the mother plane, ignited the engine, and climbed at a high speed. A few minutes later, the picture came to the situation in the cabin, and four \"astronauts\" left their seats and experienced a feeling of weightlessness. By the time the picture in the cabin appeared again, the four passengers had buckled up their seat belts and were ready to return to the ground. At this point, the Unity 22 is rapidly descending, preparing for a glide landing.</p><p>Fifteen minutes after separating from the parent aircraft, the Unity 22 successfully landed on the ground, stationed firmly in the middle of the runway.</p><p><img src=\"https://static.tigerbbs.com/516d2139746074946e6f41be69b0e34f\" tg-width=\"630\" tg-height=\"393\" referrerpolicy=\"no-referrer\"></p><p><h2>Spacecraft Two Landing Screen</h2><img src=\"https://static.tigerbbs.com/e1937806c84de9e418111b848d236638\" tg-width=\"630\" tg-height=\"393\" referrerpolicy=\"no-referrer\"></p><p><h2>After Spacecraft Two landed, the crew prepared to disembark.</h2>The space boundary defined by the U.S. Air Force and NASA is 50 miles (80 kilometers), while the Carmen line recognized by the International Aviation Federation is 62 miles (100 kilometers). Therefore, this flight makes Branson the first founder of a commercial space enterprise to go to space, nine days before Bezos, the founder of Blue Origin, who will take the Shepard spacecraft/spacecraft to space on July 20th. However, the Blue Origin New Shepard rocket can send the spacecraft to an altitude slightly above the 100-kilometer Karman line, which is higher than Spacecraft II.</p><p><b><a href=\"https://laohu8.com/S/APOL\">Apollo</a>Moon landing inspires billionaires to go to space</b></p><p>Branson was influenced by watching Apollo's live moon landing as a teenager, began to pursue his dream of going to space and founded Virgin Galactic in 2004. Over the years, Branson invested more than $1 billion in Virgin Galactic, and today he finally realized his dream of space.</p><p>However, when asked if his family was worried about the news that he would go to space in person, Branson admitted that his wife, who was \"afraid to even fly on a Virgin Atlantic plane\", was firmly opposed to his bold move: \"She said,' If you are stupid enough to do this kind of thing, then you will do it well, but I will not go to your funeral.\" Earlier, the insurance broker told the media that there was no evidence that Branson had taken out insurance in case he was injured or killed during the trip. In contrast, Virgin Galactic may have insured its space plane, the VVS Unity.</p><p>The flight lasted about 1.5 hours. During the flight, Virgin Galactic first used the VMS Eve large carrier aircraft to carry the VSS Unity to an altitude of about 15,000 meters. Subsequently, VMS Eve separated from VSS Unity, and Spacecraft Two (VSS Unity) entered suborbital space on its own. Eventually, both VMS Eve and VSS Unity returned to the spaceport and landed, with a flight ticket price of $250,000/person and a weightlessness duration of 3 to 4 minutes.</p><p>\"After 16 years of research, engineering and testing, Virgin Galactic has become the pioneer of the emerging commercial space industry, which will open the door to space for mankind and make the world a better place.\" Branson said in the statement, \"I am honored to help the company validate this journey that our future astronauts will take, ensuring that people's unique expectations for Virgin Galactic in terms of customer experience are met.\"</p><p><img src=\"https://static.tigerbbs.com/39207067f75b751801bd55fb24490453\" tg-width=\"630\" tg-height=\"306\" referrerpolicy=\"no-referrer\"></p><p><h2>During the flight, the inside of Spacecraft 2.</h2><img src=\"https://static.tigerbbs.com/6518ce92eb5a959dc039f56b620dbff9\" tg-width=\"630\" tg-height=\"290\" referrerpolicy=\"no-referrer\"></p><p><h2>Branson during the flight</h2>It is also the fourth spaceflight test by Virgin Galactic and the first to fly aboard four members, whose most recent manned test flight was on May 22 with just two members. In addition to Branson, the other three experts who flew to space together included Beth Moses, chief astronaut instructor, Colin Bennett, chief operations engineer, and Sirisha Bandla, vice president of government affairs. Virgin Galactic pilots Dave Mackay and Michael Masucci will be responsible for piloting the company's V.S.S Unity spacecraft.</p><p><b>What is a space plane in Virgin Galactic? Fly to where?</b></p><p>The Virgin Galactic space plane, called SpaceShipTwo, is the size of a business jet and can be reused. In addition to the two pilots, there is room for four people in the cabin. Spacecraft 2, which lifted off this time, was named \"V.S.S. Unity\". Not quite the same as the Rocket, V.S.S. The Unity will first be carried by a larger aircraft to an altitude of approximately 50,000 feet. Subsequently, V.S.S. Unity separated from the carrier aircraft, while igniting the engine began to accelerate and continue to climb high into the sky, to the edge of space 50 miles high. During the acceleration, the crew on board will feel the force of 3.5 times their normal body weight.</p><p>At the highest point, the crew on board can leave their actions and experience noticeable weightlessness for about four minutes. Of course, they will not escape the gravitational constraints of the Earth. Instead, after the highest point, they will descend again with the plane, and return to Earth under the call of Earth's gravity. Once the aircraft returned to the atmosphere, V.S.S. Unity will land in gliding mode.</p><p><b>Are space planes safe in Virgin Galactic?</b></p><p>The federal government has not yet adopted any regulations on the safety of passengers in spacecraft such as the spacecraft in Virgin Galactic. In fact, the Federal Aviation Administration (FAA) won't be able to issue relevant safety regulations until after 2023, because emerging space companies like Virgin Galactic need a \"learning phase\" to experiment with designs and processes, and too much regulation will stifle innovations brewing better and more effective designs.</p><p>Therefore, future space tourism passengers will need to sign a risk \"informed consent form,\" similar to the consent signed when parachuting or bungee jumping. However, the Virgin Galactic space plane has had two safety incidents before this. In 2014, the company's first space plane, the V.S.S. The Enterprise crashed during a test flight, killing co-pilot Michael Allsbury, but pilot Peter Hibbold survived a parachute jump. The cause of the accident was that the co-pilot moved a lever prematurely. Now, the controls have been redesigned. In 2019, Virgin Galactic narrowly missed another disaster for its space plane when new metal thermal protective films were improperly installed, covering air holes in the horizontal tail. But fortunately, in the end, there was no danger.</p><p><img src=\"https://static.tigerbbs.com/34fbcea1efc518cd9ac33b19ab290d3f\" tg-width=\"630\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p><h2>Pilots on this flight pose with crew members aboard Spacecraft Two</h2><b>Future Suborbital Space Tourism</b></p><p>It is said that Virgin Galactic has secured more than 600 seat ticket reservations, with an average ticket price of around $250,000 each. Virgin Galactic is expected to launch a full commercial space travel service in 2022 and is on track to eventually reduce fares to around $40,000.</p><p>In suborbital space tourism, the only competitor for Virgin Galactic is Bezos's Blue Origin, as Elon Musk's SpaceX plans to offer passengers further journeys, with targets including the International Space Station.</p><p>In June, Bezos announced he would take his first passenger flight aboard Blue Origin's New Shepard rocket. Bezos is scheduled to launch on July 20, with three others including his brother, the mystery buyer who won the $28 million public auction, and legendary American spaceflight pioneer Wally Funk of the Mercury 13. (Yun Lin)</p>","source":"sina_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Virgin Galactic founder Branson successfully goes to space and becomes the first founder of a commercial space company to board space</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVirgin Galactic founder Branson successfully goes to space and becomes the first founder of a commercial space company to board space\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技</strong><span class=\"h-time small\">2021-07-11 23:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p><img src=\"https://static.tigerbbs.com/744a5b09b34b580be9df2654b1b2c619\" tg-width=\"640\" tg-height=\"368\" referrerpolicy=\"no-referrer\"><a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>Founders officially kick off their journey into space</p><p><a href=\"https://laohu8.com/S/SINA\">SINA</a>At 23: 40 on July 11th, Beijing time, 70-year-old Richard Branson, founder of space tourism company Virgin Galactic, successfully returned from an orbit of 85.9 kilometers on Spacecraft 2, becoming the first founder of a commercial aerospace enterprise to board space, 9 days before Bezos, founder of Blue Origin. At the same time, Branson also became the second oldest astronaut!</p><p><img src=\"https://static.tigerbbs.com/ec12f8461cc81f690254dc459b861503\" tg-width=\"630\" tg-height=\"359\" referrerpolicy=\"no-referrer\"></p><p><h2></h2><img src=\"https://static.tigerbbs.com/5e99c795c5f8aa295bc0b0bb1d1c5734\" tg-width=\"550\" tg-height=\"325\" referrerpolicy=\"no-referrer\"></p><p><h2>White Knight takeoff screen on Spacecraft Two</h2>At 22: 40 pm on the 11th, Beijing time, the carrier aircraft White Knight (VMS Eve) took off on Unity 22. \"(This is) a historic moment for Virgin Galactic, a historic moment for commercial travel in space, a historic moment for Richard Branson,\" Micheal Korgrazier said in a livestreamed interview.</p><p><img src=\"https://static.tigerbbs.com/1ff4c2360fe55e93a4da3d838edbcd65\" tg-width=\"630\" tg-height=\"342\" referrerpolicy=\"no-referrer\"></p><p><h2></h2><img src=\"https://static.tigerbbs.com/6cc60b640c7da4e473610a5710d557c9\" tg-width=\"630\" tg-height=\"355\" referrerpolicy=\"no-referrer\"></p><p><h2>Rocket engine ignition takeoff screen after Spacecraft 2 separates from White Knight</h2>About 15 minutes later, Unity 22 successfully separated from the mother plane, ignited the engine, and climbed at a high speed. A few minutes later, the picture came to the situation in the cabin, and four \"astronauts\" left their seats and experienced a feeling of weightlessness. By the time the picture in the cabin appeared again, the four passengers had buckled up their seat belts and were ready to return to the ground. At this point, the Unity 22 is rapidly descending, preparing for a glide landing.</p><p>Fifteen minutes after separating from the parent aircraft, the Unity 22 successfully landed on the ground, stationed firmly in the middle of the runway.</p><p><img src=\"https://static.tigerbbs.com/516d2139746074946e6f41be69b0e34f\" tg-width=\"630\" tg-height=\"393\" referrerpolicy=\"no-referrer\"></p><p><h2>Spacecraft Two Landing Screen</h2><img src=\"https://static.tigerbbs.com/e1937806c84de9e418111b848d236638\" tg-width=\"630\" tg-height=\"393\" referrerpolicy=\"no-referrer\"></p><p><h2>After Spacecraft Two landed, the crew prepared to disembark.</h2>The space boundary defined by the U.S. Air Force and NASA is 50 miles (80 kilometers), while the Carmen line recognized by the International Aviation Federation is 62 miles (100 kilometers). Therefore, this flight makes Branson the first founder of a commercial space enterprise to go to space, nine days before Bezos, the founder of Blue Origin, who will take the Shepard spacecraft/spacecraft to space on July 20th. However, the Blue Origin New Shepard rocket can send the spacecraft to an altitude slightly above the 100-kilometer Karman line, which is higher than Spacecraft II.</p><p><b><a href=\"https://laohu8.com/S/APOL\">Apollo</a>Moon landing inspires billionaires to go to space</b></p><p>Branson was influenced by watching Apollo's live moon landing as a teenager, began to pursue his dream of going to space and founded Virgin Galactic in 2004. Over the years, Branson invested more than $1 billion in Virgin Galactic, and today he finally realized his dream of space.</p><p>However, when asked if his family was worried about the news that he would go to space in person, Branson admitted that his wife, who was \"afraid to even fly on a Virgin Atlantic plane\", was firmly opposed to his bold move: \"She said,' If you are stupid enough to do this kind of thing, then you will do it well, but I will not go to your funeral.\" Earlier, the insurance broker told the media that there was no evidence that Branson had taken out insurance in case he was injured or killed during the trip. In contrast, Virgin Galactic may have insured its space plane, the VVS Unity.</p><p>The flight lasted about 1.5 hours. During the flight, Virgin Galactic first used the VMS Eve large carrier aircraft to carry the VSS Unity to an altitude of about 15,000 meters. Subsequently, VMS Eve separated from VSS Unity, and Spacecraft Two (VSS Unity) entered suborbital space on its own. Eventually, both VMS Eve and VSS Unity returned to the spaceport and landed, with a flight ticket price of $250,000/person and a weightlessness duration of 3 to 4 minutes.</p><p>\"After 16 years of research, engineering and testing, Virgin Galactic has become the pioneer of the emerging commercial space industry, which will open the door to space for mankind and make the world a better place.\" Branson said in the statement, \"I am honored to help the company validate this journey that our future astronauts will take, ensuring that people's unique expectations for Virgin Galactic in terms of customer experience are met.\"</p><p><img src=\"https://static.tigerbbs.com/39207067f75b751801bd55fb24490453\" tg-width=\"630\" tg-height=\"306\" referrerpolicy=\"no-referrer\"></p><p><h2>During the flight, the inside of Spacecraft 2.</h2><img src=\"https://static.tigerbbs.com/6518ce92eb5a959dc039f56b620dbff9\" tg-width=\"630\" tg-height=\"290\" referrerpolicy=\"no-referrer\"></p><p><h2>Branson during the flight</h2>It is also the fourth spaceflight test by Virgin Galactic and the first to fly aboard four members, whose most recent manned test flight was on May 22 with just two members. In addition to Branson, the other three experts who flew to space together included Beth Moses, chief astronaut instructor, Colin Bennett, chief operations engineer, and Sirisha Bandla, vice president of government affairs. Virgin Galactic pilots Dave Mackay and Michael Masucci will be responsible for piloting the company's V.S.S Unity spacecraft.</p><p><b>What is a space plane in Virgin Galactic? Fly to where?</b></p><p>The Virgin Galactic space plane, called SpaceShipTwo, is the size of a business jet and can be reused. In addition to the two pilots, there is room for four people in the cabin. Spacecraft 2, which lifted off this time, was named \"V.S.S. Unity\". Not quite the same as the Rocket, V.S.S. The Unity will first be carried by a larger aircraft to an altitude of approximately 50,000 feet. Subsequently, V.S.S. Unity separated from the carrier aircraft, while igniting the engine began to accelerate and continue to climb high into the sky, to the edge of space 50 miles high. During the acceleration, the crew on board will feel the force of 3.5 times their normal body weight.</p><p>At the highest point, the crew on board can leave their actions and experience noticeable weightlessness for about four minutes. Of course, they will not escape the gravitational constraints of the Earth. Instead, after the highest point, they will descend again with the plane, and return to Earth under the call of Earth's gravity. Once the aircraft returned to the atmosphere, V.S.S. Unity will land in gliding mode.</p><p><b>Are space planes safe in Virgin Galactic?</b></p><p>The federal government has not yet adopted any regulations on the safety of passengers in spacecraft such as the spacecraft in Virgin Galactic. In fact, the Federal Aviation Administration (FAA) won't be able to issue relevant safety regulations until after 2023, because emerging space companies like Virgin Galactic need a \"learning phase\" to experiment with designs and processes, and too much regulation will stifle innovations brewing better and more effective designs.</p><p>Therefore, future space tourism passengers will need to sign a risk \"informed consent form,\" similar to the consent signed when parachuting or bungee jumping. However, the Virgin Galactic space plane has had two safety incidents before this. In 2014, the company's first space plane, the V.S.S. The Enterprise crashed during a test flight, killing co-pilot Michael Allsbury, but pilot Peter Hibbold survived a parachute jump. The cause of the accident was that the co-pilot moved a lever prematurely. Now, the controls have been redesigned. In 2019, Virgin Galactic narrowly missed another disaster for its space plane when new metal thermal protective films were improperly installed, covering air holes in the horizontal tail. But fortunately, in the end, there was no danger.</p><p><img src=\"https://static.tigerbbs.com/34fbcea1efc518cd9ac33b19ab290d3f\" tg-width=\"630\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p><h2>Pilots on this flight pose with crew members aboard Spacecraft Two</h2><b>Future Suborbital Space Tourism</b></p><p>It is said that Virgin Galactic has secured more than 600 seat ticket reservations, with an average ticket price of around $250,000 each. Virgin Galactic is expected to launch a full commercial space travel service in 2022 and is on track to eventually reduce fares to around $40,000.</p><p>In suborbital space tourism, the only competitor for Virgin Galactic is Bezos's Blue Origin, as Elon Musk's SpaceX plans to offer passengers further journeys, with targets including the International Space Station.</p><p>In June, Bezos announced he would take his first passenger flight aboard Blue Origin's New Shepard rocket. Bezos is scheduled to launch on July 20, with three others including his brother, the mystery buyer who won the $28 million public auction, and legendary American spaceflight pioneer Wally Funk of the Mercury 13. (Yun Lin)</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://tech.sina.cn/d/tk/2021-07-11/detail-ikqciyzk4872823.d.html?vt=4\">新浪科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5e99c795c5f8aa295bc0b0bb1d1c5734","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://tech.sina.cn/d/tk/2021-07-11/detail-ikqciyzk4872823.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2150730081","content_text":"维珍银河创始人正式开启太空之旅\n新浪科技讯 北京时间7月11日23时40分，太空旅游公司维珍银河创始人、70岁的理查德·布兰森（Richard Branson）搭乘太空船二号成功从85.9公里高的轨道返回，成为首位登上太空的商业航天企业创始人，比蓝色起源创始人贝佐斯早9天，同时布兰森也成为年龄第二大的宇航员！\n\n\n\n白骑士搭载太空船二号起飞画面\n北京时间11日晚间22时40分，运载飞机白骑士（VMS Eve）搭载太空船二号（Unity 22）起飞。迈克尔·科尔格拉齐耶在直播采访中表示：“（这是）维珍银河的历史性时刻，太空商业旅行的历史性时刻，理查德·布兰森的历史性时刻。”\n\n\n\n太空船二号与白骑士分离后，火箭发动机点火起飞画面\n约15分钟之后，Unity 22成功与母飞机分离，点燃引擎，极速攀升。几分钟之后，画面传来机舱内的情况，四名“宇航员”离开座位，体验失重感。等机舱内画面再次出现时，四名乘客已经系好安全带，准备返回地面。此时，Unity 22正在快速下降，准备滑翔着陆。\n从母飞机分离后15分钟，Unity 22成功着陆地面，稳稳停在跑道中央。\n\n太空船二号降落画面\n\n太空船二号降落后，机组成员准备下机。\n按美国空军和NASA定义的太空边界为50英里（80公里），而国际航空联合会认定的卡门线是62英里（100公里），因此此次飞行使布兰森成为首位登上太空的商业航天企业创始人，比蓝色起源创始人贝佐斯早9天，后者会在7月20日搭乘谢泼德飞船/飞船前往太空。不过蓝色起源新谢泼德火箭可以将飞船送入稍高于100公里卡门线的高度，比太空船二号更高。\n阿波罗登月启发亿万富豪前往太空\n布兰森是在少年时间看阿波罗登月直播的影响，开始追寻前往太空的梦想并于2004年创办维珍银河。这些年间，布兰森对维珍银河投资超过了10亿美元，今天终于圆梦太空。\n不过当被问及家人对于自己将亲自登上太空的消息是否存在担忧时，布兰森坦言，“连坐维珍航空的飞机都感到害怕”的妻子，对自己的这一大胆举动持坚决的反对态度：“她说，‘如果你傻到做这种事情，那你就去做好了，但我不会去参加你的葬礼的。”此前保险经纪人向媒体表示，没有任何证据表明，布兰森购买了保险，以防他在旅途中受伤或死亡。相比之下，维珍银河可能已经为其太空飞机VVS Unity购买了保险。\n这次飞行全程历时约1.5小时。在飞行过程中，维珍银河首先使用VMS Eve大型运载飞机，将太空船二号（VSS Unity）运载至约15，000米的高空。随后，VMS Eve与VSS Unity分离，太空船二号（VSS Unity）自行进入亚轨道空间。最终，VMS Eve和VSS Unity都返回太空港并降落，飞行船票价格为25万美元/人，失重时长在3到4分钟。\n“历经16年研究、工程和测试工作，维珍银河成为了新兴的商业太空行业的先锋，这将为人类打开太空之门，让世界更加美好。”布兰森在声明中说，“我很荣幸能够帮助公司验证我们未来的宇航员将会从事的这趟旅程，确保满足人们在客户体验方面对维珍银河的独特期待。”\n\n飞行过程中，太空船二号舱内画面。\n\n飞行过程中的布兰森\n这也是维珍银河的第四次太空飞行测试，也是首次搭载四名成员飞行，他们最近一次载人试飞是在5月22日，当时仅有两名成员。除了布兰森之外，另外3名一同飞往太空的专家还包括：首席宇航员教官贝丝·摩西（Beth Moses）、首席运营工程师科林·贝内特（Colin Bennett），以及政府事务副总裁西莉莎·班德拉（Sirisha Bandla）。维珍银河飞行员戴夫·麦凯（Dave Mackay）和迈克尔·马苏奇（Michael Masucci）将负责驾驶该公司的V.S.S Unity宇宙飞船。\n维珍银河的太空飞机是什么？飞到哪里？\n维珍银河的太空飞机叫做太空船2号（SpaceShipTwo），大小相当于一架公务机，可重复使用。除了两名飞行员之外，机舱内还可容纳四个人。这次升空的太空船2号被命名为“V.S.S。 Unity”。和火箭不太一样的是，V.S.S。 Unity将先由一架更大的飞机运载到大约50000英尺的高度。随后，V.S.S。 Unity与运载飞机分离，同时点燃引擎开始加速继续向高空攀升，飞往50英里高的太空边缘。加速过程中，机上人员会感受到正常体重3.5倍的力量。\n在最高点，机上人员可以离开自己的作为，体验大约四分钟的明显失重。当然，他们不会逃出地球的引力约束。相反，最高点之后，他们会随着飞机再度下降，在地球引力的呼唤下，重返地球。一旦飞机返回大气层，V.S.S。 Unity会以滑翔方式着陆。\n维珍银河的太空飞机安全吗？\n联邦政府尚未对维珍银河的太空飞机这类航天器乘客的安全采取任何规定。事实上，联邦航空管理局（FAA）要到2023年之后才能发布相关安全规定，因为像维珍银河这样的新兴太空公司需要一个“学习阶段”来尝试设计和流程，如果监管太多会扼杀酝酿更好、更有效设计的创新。\n所以，未来的太空旅游乘客会需要签署一份风险“知情同意书”，类似于跳伞或蹦极时签署的同意书。不过，维珍银河的太空飞机在此之前已经有过两次安全事故。2014年，该公司的第一架太空飞机V.S.S。 Enterprise在试飞过程中坠毁，副驾驶迈克尔·奥尔斯博里遇难，但驾驶员彼得·希博尔德跳伞后幸存了下来。事故原因为，当时的副驾驶过早地移动了一个杠杆。现在，控制装置已经重新设计。2019年，维珍银河的太空飞机险些遭遇又一场灾难，原因是新的金属热保护膜安装不当，覆盖了水平尾翼上的空气孔。但所幸，最后有惊无险。\n\n本次飞行中的飞行员与搭乘太空船二号的机组成员合影\n未来亚轨道太空旅游\n据称，维珍银河已经拿下600多张座位票预订，平均每张票价在25万美元左右。维珍银河预期将在2022年开启全面的商业太空旅行服务，并最终有望将票价降到4万美元左右。\n在亚轨道太空旅游领域，维珍银河的唯一竞争对手就是贝索斯的蓝色起源，因为埃隆·马斯克（Elon Musk）的SpaceX计划为乘客提供更远的旅程，目标包括国际空间站。\n今年6月，贝索斯宣布他将乘坐蓝色起源的新谢珀德号（New Shepard）火箭的首次载客飞行。贝索斯计划在7月20日发射，同行的另外三人则包括他的兄弟、在2800万美元公开拍卖中胜出的神秘买家和美国传奇航天先驱，水星计划13人中的沃莉·芬克（Wally Funk）。（匀琳）","news_type":1,"symbols_score_info":{"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":859,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148765914,"gmtCreate":1626018959638,"gmtModify":1703752001890,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/148765914","repostId":"1155854665","repostType":4,"isVote":1,"tweetType":1,"viewCount":906,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143477074,"gmtCreate":1625814187998,"gmtModify":1703749091313,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143477074","repostId":"1178083676","repostType":4,"isVote":1,"tweetType":1,"viewCount":1022,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149390657,"gmtCreate":1625703954879,"gmtModify":1703746641978,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/149390657","repostId":"1144476419","repostType":4,"isVote":1,"tweetType":1,"viewCount":845,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152355936,"gmtCreate":1625272390525,"gmtModify":1703739657331,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/152355936","repostId":"2148780149","repostType":4,"repost":{"id":"2148780149","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625271343,"share":"https://ttm.financial/m/news/2148780149?lang=en_US&edition=fundamental","pubTime":"2021-07-03 08:15","market":"us","language":"zh","title":"Swan Daojia submits US IPO application to sprint the first share of China's family service platform","url":"https://stock-news.laohu8.com/highlight/detail?id=2148780149","media":"老虎资讯综合","summary":"周五，据美国证券交易委员会文件，天鹅到家(原58到家)递交美股IPO申请，冲刺中国家庭服务平台第一股。该公司寻求在纽交所上市，交易代码为“JIA”。摩根大通、瑞银集团、中金公司为主承销商。\n据艾瑞咨询","content":"<p>On Friday, according to U.S. Securities and Exchange Commission filings, Swan Daojia (formerly 58 Daojia) submitted an IPO application for U.S. stocks, sprinting to the first stock of China's family service platform. The company seeks a listing on the NYSE under the symbol \"JIA.\"<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>、<a href=\"https://laohu8.com/S/UBS\">UBS</a>Group,<a href=\"https://laohu8.com/S/601995\">CICC</a>As the lead underwriter.</p><p>According to iResearch, the market size of China's home services sector is very large. In 2020, the market size was about 909 billion yuan (the same below), and it is expected to increase to about 2.12 trillion yuan by 2025, with a compound annual growth rate of 18.5%. In terms of market share, as of 2020, the penetration rate of Swan Daojia in the national target market was 8%, and the penetration rate of target market in 29 self-operated cities was 22.3%, with huge market potential and development space.</p><p>Founded in 2014, Swan Daojia belongs to Daojia Group. On September 7, 2020, it was officially renamed from \"58 Daojia\" to \"Swan Daojia\". According to the prospectus, the GTV (total transaction volume) of Swan Home platform is as high as 8.828 billion yuan ($1.353 billion), more than twice the sum of the second to fifth places in the same industry.</p><p>In terms of main business income, the main business income of Swan Daojia in 2019 was 611 million yuan, an increase of 53.3% over 2018. Main business revenue in 2020 was 711 million yuan ($109 million), up 16.4% from 2019. In the first quarter of 2021, the company's main business income was 197 million yuan, an increase of 38.4% from 142 million yuan in the first quarter of 2020.</p><p>The company's gross profit in 2018 and 2019 was 51.74 million yuan and 159 million yuan, respectively, a significant increase of 208.2%. Gross profit in 2020 was 278 million yuan ($42.45 million), up 74.5% year-on-year. At the same time, the gross profit margin increased from 13% in 2018 to 46% in the first quarter of 2021, and both gross profit and gross profit margin achieved double-digit growth for three consecutive years.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Swan Daojia submits US IPO application to sprint the first share of China's family service platform</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSwan Daojia submits US IPO application to sprint the first share of China's family service platform\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-03 08:15</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On Friday, according to U.S. Securities and Exchange Commission filings, Swan Daojia (formerly 58 Daojia) submitted an IPO application for U.S. stocks, sprinting to the first stock of China's family service platform. The company seeks a listing on the NYSE under the symbol \"JIA.\"<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>、<a href=\"https://laohu8.com/S/UBS\">UBS</a>Group,<a href=\"https://laohu8.com/S/601995\">CICC</a>As the lead underwriter.</p><p>According to iResearch, the market size of China's home services sector is very large. In 2020, the market size was about 909 billion yuan (the same below), and it is expected to increase to about 2.12 trillion yuan by 2025, with a compound annual growth rate of 18.5%. In terms of market share, as of 2020, the penetration rate of Swan Daojia in the national target market was 8%, and the penetration rate of target market in 29 self-operated cities was 22.3%, with huge market potential and development space.</p><p>Founded in 2014, Swan Daojia belongs to Daojia Group. On September 7, 2020, it was officially renamed from \"58 Daojia\" to \"Swan Daojia\". According to the prospectus, the GTV (total transaction volume) of Swan Home platform is as high as 8.828 billion yuan ($1.353 billion), more than twice the sum of the second to fifth places in the same industry.</p><p>In terms of main business income, the main business income of Swan Daojia in 2019 was 611 million yuan, an increase of 53.3% over 2018. Main business revenue in 2020 was 711 million yuan ($109 million), up 16.4% from 2019. In the first quarter of 2021, the company's main business income was 197 million yuan, an increase of 38.4% from 142 million yuan in the first quarter of 2020.</p><p>The company's gross profit in 2018 and 2019 was 51.74 million yuan and 159 million yuan, respectively, a significant increase of 208.2%. Gross profit in 2020 was 278 million yuan ($42.45 million), up 74.5% year-on-year. At the same time, the gross profit margin increased from 13% in 2018 to 46% in the first quarter of 2021, and both gross profit and gross profit margin achieved double-digit growth for three consecutive years.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a7123c00c718afd2209048e9d94f04a1","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2148780149","content_text":"周五，据美国证券交易委员会文件，天鹅到家(原58到家)递交美股IPO申请，冲刺中国家庭服务平台第一股。该公司寻求在纽交所上市，交易代码为“JIA”。摩根大通、瑞银集团、中金公司为主承销商。\n据艾瑞咨询的数据，中国家庭服务领域的市场规模非常庞大，2020年市场规模约9090亿元人民币(下同)，预计到2025年增加到约2.12万亿元，年复合增长18.5%。市场份额方面，截至2020年，天鹅到家在全国目标市场渗透率为8%，在自营29个城市目标市场渗透率为22.3%，市场潜力和发展空间巨大。\n天鹅到家成立于2014年，隶属于到家集团，2020年9月7日正式由“58到家”改名为“天鹅到家”。招股书显示，天鹅到家平台GTV (总交易额)高达88.28亿元(合13.53亿美元)，比同行业第2名至第5名总和的两倍还多。\n主营业务收入方面，天鹅到家2019年的主营业务收入6.11亿元，较2018年增长53.3%。2020年的主营业务收入7.11亿元(合1.09亿美元)，较2019年增长16.4%。2021年公司第一季度主营业务收入为1.97亿元，较2020年一季度的1.42亿元增长38.4%。\n公司2018年与2019年的毛利润分别为5174万元与1.59亿元，大幅增长208.2%。2020年实现毛利润2.78亿元(合4245万美元)，同比增长74.5%。与此同时，毛利率从2018年的13%，增长到2021年一季度的46%，毛利润和毛利率双双实现高达两位数的三年连涨。","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":915,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":818993258,"gmtCreate":1630369237574,"gmtModify":1676530281557,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/818993258","repostId":"1161821102","repostType":4,"repost":{"id":"1161821102","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1630367862,"share":"https://ttm.financial/m/news/1161821102?lang=en_US&edition=fundamental","pubTime":"2021-08-31 07:57","market":"hk","language":"zh","title":"Helen Division is offering its shares today, and the entrance fee is approximately HK$10,464.4","url":"https://stock-news.laohu8.com/highlight/detail?id=1161821102","media":"老虎资讯综合","summary":"8月31日，海伦司发布公告，公司拟全球发售1.3465亿股股份，其中香港发售股份1346.5万股，国际发售股份1.21185亿股，另有15%超额配股权；2021年8月31日至9月3日招股，预期定价日为","content":"<p>On August 31,<a href=\"https://laohu8.com/S/09869\">Helen S.</a>Announced that the company plans to offer 134.65 million shares globally, including 13.465 million shares offered in Hong Kong, 121.85 million shares offered internationally, and 15% over-allotment option; Offering from August 31 to September 3, 2021, with an expected pricing date of September 3; an Offer Price of HK$18.82 – HK$20.72 per Offer Share, board lot of 500 Shares and an admission fee of approximately HK$10,464.4;<a href=\"https://laohu8.com/S/601995\">CICC</a>Being the Sole Sponsor; The Shares are expected to be listed on the Main Board of the Stock Exchange on 10 September 2021.</p><p><img src=\"https://static.tigerbbs.com/3fdb0b717e3c80ba38d61ea90a31d4e3\" tg-width=\"906\" tg-height=\"761\" referrerpolicy=\"no-referrer\"></p><p><b>Subscription ladder:</b></p><p>Each lot of 500 shares, the entrance fee is HK$10,464.4.</p><p>The threshold of Group B is 300,000 shares, and the funds required for subscription are about HK$ 6,278,638.63.</p><p><img src=\"https://static.tigerbbs.com/2a5718e75ddbb105de687bf77f251700\" tg-width=\"919\" tg-height=\"647\" referrerpolicy=\"no-referrer\"></p><p>The Group is the largest network of tavern chains in China. In 2020, the Group ranked first in China's tavern industry in terms of revenue, with a market share of 1.1%. According to Frost & Sullivan, the Group maintained its market leading position in the PRC pub industry in terms of the number of pubs in 2018, 2019 and 2020 and the three months ended 31 March 2021. Leveraging on a highly standardized operating model, the scale of the Group's tavern network expanded rapidly during the Track Record Period. As of December 31, 2018, 2019, 2020 and March 31, 2021, the total number of pubs in the Group's pub network was 162, 252, 351 and 374, respectively, and further increased to 528 as of the Latest Practicable Date. The Group has been operating pubs under the \"Helen's\" brand and as of the Latest Practicable Date, there were 66, 296 and 165 Helen's pubs in Tier 1, Tier 2 and Tier 3 and below cities in China, respectively, accounting for 12.5%, 56.1% and 31.3% of the total number of pubs as of the same date, respectively.</p><p>Assuming an Offer Price of HK$19.77 per Offer Share, being the mid-point of the Offer Price range stated in this prospectus, the estimated net proceeds from the Global Offering to be received by the Group would be HK$2,512.9 million. Of which, approximately 70.0% of the net proceeds will be used to open new pubs and realize the Group's expansion plans in the next three years; Approximately 10.0% will be used to further strengthen the talent echelon of the Company's taverns to optimize the human resources management system; Approximately 5.0% will be used to further strengthen the basic capacity building of the tavern; Approximately 5.0% will be used to further strengthen the brand awareness of Helen's; And the remaining approximately 10.0% will be used for working capital and general corporate purposes.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Helen Division is offering its shares today, and the entrance fee is approximately HK$10,464.4</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHelen Division is offering its shares today, and the entrance fee is approximately HK$10,464.4\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-31 07:57</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On August 31,<a href=\"https://laohu8.com/S/09869\">Helen S.</a>Announced that the company plans to offer 134.65 million shares globally, including 13.465 million shares offered in Hong Kong, 121.85 million shares offered internationally, and 15% over-allotment option; Offering from August 31 to September 3, 2021, with an expected pricing date of September 3; an Offer Price of HK$18.82 – HK$20.72 per Offer Share, board lot of 500 Shares and an admission fee of approximately HK$10,464.4;<a href=\"https://laohu8.com/S/601995\">CICC</a>Being the Sole Sponsor; The Shares are expected to be listed on the Main Board of the Stock Exchange on 10 September 2021.</p><p><img src=\"https://static.tigerbbs.com/3fdb0b717e3c80ba38d61ea90a31d4e3\" tg-width=\"906\" tg-height=\"761\" referrerpolicy=\"no-referrer\"></p><p><b>Subscription ladder:</b></p><p>Each lot of 500 shares, the entrance fee is HK$10,464.4.</p><p>The threshold of Group B is 300,000 shares, and the funds required for subscription are about HK$ 6,278,638.63.</p><p><img src=\"https://static.tigerbbs.com/2a5718e75ddbb105de687bf77f251700\" tg-width=\"919\" tg-height=\"647\" referrerpolicy=\"no-referrer\"></p><p>The Group is the largest network of tavern chains in China. In 2020, the Group ranked first in China's tavern industry in terms of revenue, with a market share of 1.1%. According to Frost & Sullivan, the Group maintained its market leading position in the PRC pub industry in terms of the number of pubs in 2018, 2019 and 2020 and the three months ended 31 March 2021. Leveraging on a highly standardized operating model, the scale of the Group's tavern network expanded rapidly during the Track Record Period. As of December 31, 2018, 2019, 2020 and March 31, 2021, the total number of pubs in the Group's pub network was 162, 252, 351 and 374, respectively, and further increased to 528 as of the Latest Practicable Date. The Group has been operating pubs under the \"Helen's\" brand and as of the Latest Practicable Date, there were 66, 296 and 165 Helen's pubs in Tier 1, Tier 2 and Tier 3 and below cities in China, respectively, accounting for 12.5%, 56.1% and 31.3% of the total number of pubs as of the same date, respectively.</p><p>Assuming an Offer Price of HK$19.77 per Offer Share, being the mid-point of the Offer Price range stated in this prospectus, the estimated net proceeds from the Global Offering to be received by the Group would be HK$2,512.9 million. Of which, approximately 70.0% of the net proceeds will be used to open new pubs and realize the Group's expansion plans in the next three years; Approximately 10.0% will be used to further strengthen the talent echelon of the Company's taverns to optimize the human resources management system; Approximately 5.0% will be used to further strengthen the basic capacity building of the tavern; Approximately 5.0% will be used to further strengthen the brand awareness of Helen's; And the remaining approximately 10.0% will be used for working capital and general corporate purposes.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6b69e234a63c2c0a69ccede7b0faaa18","relate_stocks":{"09869":"海伦司"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161821102","content_text":"8月31日，海伦司发布公告，公司拟全球发售1.3465亿股股份，其中香港发售股份1346.5万股，国际发售股份1.21185亿股，另有15%超额配股权；2021年8月31日至9月3日招股，预期定价日为9月3日；发售价每股发售股份18.82港元-20.72港元，每手买卖单位500股，入场费约10464.4港元；中金公司为独家保荐人；预期股份将于2021年9月10日于联交所主板挂牌上市。\n\n申购阶梯：\n每手500股，入场费10464.4港元。\n乙组门槛为30万股，申购所需资金约6278638.63港元。\n\n集团是中国最大的连锁酒馆网络。2020年，按收入计，集团在中国酒馆行业中排名第一，占据1.1%的市场份额。根据弗若斯特沙利文的资料，以酒馆数量计，集团于2018年、2019年及2020年以及截至2021年3月31日止三个月在中国酒馆行业中保持市场领导地位。借助高度标准化的运营模式，集团酒馆网络的规模于往绩记录期间快速扩张。截至2018年、2019年、2020年12月31日及2021年3月31日，集团酒馆网络中的酒馆总数分别为162家、252家、351家及374家，并进一步增加至截至最后实际可行日期的528家。集团一直以“Helen’s(海伦司)”品牌经营酒馆，截至最后实际可行日期，在中国一线、二线及三线及以下城市的Helen’s酒馆数分别为66家、296家及165家，分别占截至同日酒馆总数量的12.5%、56.1%及31.3%。\n假设发售价为每股发售股份19.77港元(即本招股章程所述发售价范围的中位数)，集团将收到的全球发售估计所得款项净额25.129亿港元。其中，所得款项净额约70.0%将被用于在未来三年开设新酒馆及实现集团的扩张计划；约10.0%将用于进一步加强公司酒馆的人才梯队建设，以优化人力资源管理体系；约5.0%将用于进一步加强酒馆的基础能力建设；约5.0%将用于进一步强化Helen’s的品牌知名度；及余下约10.0%将用作营运资金及一般企业用途。","news_type":1,"symbols_score_info":{"09869":0.9}},"isVote":1,"tweetType":1,"viewCount":991,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144557155,"gmtCreate":1626307546477,"gmtModify":1703757454623,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144557155","repostId":"1111811630","repostType":4,"repost":{"id":"1111811630","kind":"news","pubTimestamp":1626307234,"share":"https://ttm.financial/m/news/1111811630?lang=en_US&edition=fundamental","pubTime":"2021-07-15 08:00","market":"sh","language":"zh","title":"Past events of listing of Chinese Internet companies","url":"https://stock-news.laohu8.com/highlight/detail?id=1111811630","media":"吴杨野餐会","summary":"1983年，刘钢从北京大学法学院毕业，被分配到司法部秘书处，负责为部长撰写日常报告。\n一年后，他感觉工作内容枯燥，想申请调职。有人劝告他，秘书身份可能会更容易得到提升。\n1985年，国家推行“第三梯队","content":"<p>In 1983, Gang Liu graduated from Peking University Law School and was assigned to the Ministry of Justice Secretariat, where he was responsible for writing daily reports for the minister.</p><p>A year later, he felt that the job content was boring and wanted to apply for a transfer. He was advised that secretarial status might be easier to promote.</p><p>In 1985, the state carried out the reform of the \"third echelon\" cadres. The Ministry of Justice selected young cadres to train at the grass-roots level, and Liu Gang was included. He voluntarily gave up his position in the grass-roots organ and chose to be a grass-roots lawyer.</p><p>After the training period expired, colleagues returned to the Ministry of Justice to continue their careers, but Liu Gang did not go back. He chose to stay in the law profession.</p><p>At that time, China's lawyer profession was just emerging, and everything was still in the period of ignorance. Liu Gang's main business is debt collection.</p><p>Since then, he has lived the life of \"debt collector migrant worker\": squeezing the hard seat of the train for two days and two nights, sleeping in Datongpu for one dollar a night, running wildly to chase the debtor, and avoiding the thugs and beatings of the debtor...</p><p>The turning point came in 1989. The Department of Justice and the British Bar Association have jointly launched a training programme for lawyers. After applying and passing the examination, Liu Gang was selected to receive internship training at a law firm in London, England.</p><p>He wanted to do the intellectual property that was hot in China at that time. But a senior partner at a British law firm advised him: \"I suggest you know about capital markets.\" Liu asked: \"What is a capital market?\"</p><p><b>\"A country as big as China will have a capital market sooner or later.\"</b>The partner of the British law firm said.</p><p>In 1990, China ushered in its own capital market, and the Shanghai Stock Exchange and Shenzhen Stock Exchange opened successively.</p><p><img src=\"https://static.tigerbbs.com/99e63397642efd52b0b6a3d4dc5643f2\" tg-width=\"640\" tg-height=\"493\" referrerpolicy=\"no-referrer\"></p><p>▲ In the 1990s, investors lined up at the entrance of the Shanghai Stock Exchange</p><p>(Photo | Pan Sophie, China News Service)</p><p>Two years later, China liberalized restrictions on private partnership law firms. Liu Gang and two friends rented an office outside Jianguomen and started their own law firm: Commercial Law Firm.</p><p>In 2000, Liu Gang got a key opportunity in his career. At that time, Sina was shocking the Nasdaq listing. If successful, it would become the first Chinese internet company to go public in the US.</p><p>Sina's listed entity is registered in the Cayman Islands. However, Chinese law restricts foreign investment in the Internet: foreign investment in the Chinese Internet is prohibited, and foreign companies are prohibited from conducting Internet business in China.</p><p>To bypass these investment restrictions, Liu helped Sina design a complex control architecture. He connects foreign investors and Chinese companies through a series of complex legal contracts that enable overseas listed entities to control domestic operating entities through agreements without direct equity relationships.</p><p><b>Liu Gang used a paper VIE structure to open the curtain of overseas listing of Chinese Internet companies.</b></p><p>In April 2000, Sina successfully landed on NASDAQ in the United States. In June and July of the same year, Netease and Sohu successively completed the listing of Nasdaq. Liu Gang participated in the overseas listing of China's three major portals. This is very rare in the lawyer profession.</p><p>Since then, for more than 20 years, almost all Chinese Internet companies have been listed overseas, adopting the VIE structure of \"Sina mode\". As of May 2021, there were a total of 248 companies in China listed in the United States, with a combined market capitalization of up to $2.1 trillion. Among them, the number of Internet-related information technology companies is the largest, accounting for more than one quarter.</p><p><b>However, the VIE structure has also become the fulcrum of the stock market game between China and the United States in the next 20 years.</b></p><p>In Liu Gang's statement, the VIE structure \"enables overseas investment companies to control the operation of domestic companies without direct equity relationship\".</p><p>However, in the statement of the US Congress, the VIE structure \"ensures that economic benefits flow to foreign investors, while keeping operational control of the business in Chinese companies\".</p><p><b>This special structure has become a typical feature of Chinese stocks, and it has also laid the groundwork for controversy and crisis for Chinese Internet companies' overseas listing in 20 years.</b></p><p>The ten-year history of overseas listing after the global financial crisis in 2008 is the key to helping us understand the current situation of Chinese Internet companies. I've divided it into four phases, which are:</p><p><img src=\"https://static.tigerbbs.com/6e5b6f69c3b6db65256d2ee9f3c20b46\" tg-width=\"965\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p><p><b>01</b></p><p><b>Hunting Chinese Companies</b></p><p><b>The first round of overseas listing and short selling (2010-2013)</b></p><p>On November 1st, 2011, Zhou Hongyi rushed back to the company in the middle of the night, and called a bunch of corresponding supervisors such as website, browser, investor relations, finance, legal affairs and public relations.</p><p>At 9 o'clock that night, Citron Research, a short-selling institution, issued the first short-selling report against Qihoo 360 before the US stock market opened. One hour later, the report was sent to Zhou Hongyi. \"We were surprised when Citron shorted 360,\" he said.</p><p>On the same day, Qihoo 360's stock fell by about 10%.</p><p>Seven months ago, Qihoo 360 landed on the New York Stock Exchange. Along with it, a large number of Chinese companies have landed on the U.S. stock market.</p><p>After the 2008 financial crisis, the US economy has recovered rapidly since 2009, and the international capital market is active. At the same time, Chinese Internet companies are in a period of rapid expansion and are in urgent need of capital.</p><p>A large number of Internet companies rushed to the United States to seek listings.<b>From 2010 to 2012, Internet companies such as Gaode Map, Qihoo 360, Youku and Tudou successfully listed in the United States, starting an overseas boom of Chinese stocks.</b></p><p><img src=\"https://static.tigerbbs.com/53b96a1e444ead872f2cd9531b979af2\" tg-width=\"692\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>▲ Changes in the number of Chinese companies listed in the United States from 1970 to 2020</p><p>Data source: Zero2IPO Research Center</p><p>In 2010, a total of about 50 Chinese stocks landed in the US stock market, and the number of overseas listings of Chinese companies broke through the peak, which also attracted the attention of \"market vultures\" short-selling institutions.</p><p>Muddy Waters fires its first bullet. In 2010, Muddy Waters' founder Carson Block threw out a 30-page short-selling report of Oriental Paper, and Oriental Paper's stock price plummeted, and Muddy Waters became famous in the First War.</p><p>Subsequently, American short-selling institutions represented by Muddy Waters and Citron successively targeted Chinese stocks such as Focus Media, Qihoo 360 and New Oriental. Among them, Internet companies have become the hardest hit areas of hunted Chinese stocks.</p><p>Under this round of hunting by short-selling institutions, more than 40 Chinese enterprises had to suspend trading and delist.<b>China stocks collectively fall into a crisis of trust.</b></p><p><b>VIE is a key target for U.S. institutions to short Chinese companies.</b>\"There is a VIE structure in China's Internet industry. Americans think that you have no legal requirements, and they will always feel unsure,\" Zhou Hongyi said.</p><p>On July 17, 2012, New Oriental was investigated by the U.S. Securities and Exchange Commission (SEC) because of the adjustment of VIE structure. Muddy Waters immediately released a short-selling report of more than 90 pages, pointing out that New Oriental's VIE structure has huge hidden dangers and lacks control.</p><p>Within 48 hours, New Oriental's share price fell by 60%, and its share price hit a five-year low.</p><p>At the same time, the New Oriental incident caused the international market to worry about the VIE structure, and Chinese stocks generally plummeted. Ctrip, Sina, etc. fell by more than 7%, while Dangdang, Qihoo 360, Netease and Sohu fell by more than 4%.</p><p>After the outbreak of the short-selling tide of Chinese stocks, the US regulators made a further strong attack. In December 2012, the SEC initiated administrative proceedings against Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers and the China Division of BDO.</p><p>The SEC asked them to submit the audit papers of nine Chinese stocks listed in the United States, but the Big Five accounting firms refused this request. They were unwilling to violate Chinese laws.</p><p>The move has left Chinese companies listed in the United States in a position without auditors, forcing Chinese companies to delist.</p><p>The delisting tide of Chinese stocks is getting fiercer and fiercer. The number of Chinese companies listed in the United States decreased from more than 240 in 2010 to less than 200 in 2012.</p><p><img src=\"https://static.tigerbbs.com/2c640046a4853c23afbcdbf6ee3d55e5\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>▲ 2010-2012 U.S. Listed Chinese Concept Stocks Encountered Short-selling Wave</p><p>Source: Guosheng Securities</p><p>With frequent conflicts, China and the United States have included auditing cross-border law enforcement in the strategic economic dialogue. In 2013, the CSRC and the Ministry of Finance signed a law enforcement cooperation agreement with the Accounting Regulatory Commission for Listed Companies (PCAOB) of the United States to formally carry out cross-border law enforcement cooperation in audit.</p><p><b>However, the issue of data sovereignty and confidentiality remains a difficult contradiction between China and the United States.</b>All kinds of subsequent storms also arose because of this.</p><p><b>02</b></p><p><b>Shadows beneath the feast</b></p><p><b>Ali's Listing and the Storm of Censorship of China Concept Stocks (2014-2017)</b></p><p>In September 2014, Jack Ma entered United Nations Headquarters. One of the purposes of his trip was to meet with UN Secretary-General Ban Ki-moon through the recommendation of Hang Lung Group Chairman Chen Qizong.</p><p>The two of them stood at the entrance of the elevator. When Ban Ki-moon came up, Chen Qizong said this to Ma Yun:</p><p>\"I know that Ali was forced to go public in the United States. Hong Kong has no different rights to the same shares, so you can't help it.<b>But Jack Ma, you have to be careful, Americans have long, long hands. One day he will give you trouble.</b>”</p><p>A week ago, Alibaba was successfully listed on the New York Stock Exchange in the United States on September 19th. The revelry flooded Wall Street.</p><p>That night, on the big black screen of NYSE, the numbers representing Alibaba's opening price kept rolling and climbing-70... 80... 90...</p><p>\"Opening price 92.7!\" a voice shouted.</p><p>Jack Ma looked up and glanced excitedly at the numbers on the screen. He picked up the hammer and swiftly struck a golden bronze bell. The crowd surrounding him immediately cheered, flashing lights.</p><p>After more than 2 hours and 12 rounds of inquiry, Alibaba stock finally opened at 23: 53 that night. The opening price was $92.7, up 36.32% from the issue price of $68. The total amount of financing reached $34.125 billion, setting a record for IPO financing in global history. Alibaba's total market capitalization reached $228.5 billion, exceeding the GDP of more than 100 countries.</p><p><img src=\"https://static.tigerbbs.com/b666ad1064a3f877e706adaec7dfcd17\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p><p>▲ Jack Ma of Alibaba's US Listing Site in 2014</p><p><b>A number of American brokerages and international capital shared this capital feast.</b>Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and others are among them.</p><p>When Alibaba landed on the NYSE, SoftBank held 34.4% of the shares, making it the largest shareholder; Yahoo holds 22.6% of the shares, ranking second. According to the opening price of Alibaba's listing alone, the market value of SoftBank and Yahoo's holdings has reached $78.604 billion and $51.641 billion respectively, not counting the part they previously cashed out from Ali.</p><p>2014 is another peak for Chinese Internet companies to go public in the United States. In addition to Ali, JD.COM, Weibo, Tuniu, Zhaopin Recruitment, etc. have also landed on the New York Stock Exchange and Nasdaq in the United States. A total of 12 Internet companies have completed their listing in the United States throughout the year.</p><p>However, the month that Alibaba went public, the U.S. Congressional China Economic and Security Review Committee (UCESRC) issued a document entitled<b>Risks of Chinese Internet Companies on the U.S. Stock Exchange</b>The investigation report of.</p><p>The report uses 17 pages to point out the risks of listing of Chinese Internet companies, pointing out that the VIE structure is untrustworthy. \"Many U.S. legal experts believe that the VIE structure is technically illegal under Chinese law and advise U.S. investors against such investments,\" the UCESRC declared.</p><p>On the night of Double Eleven in the same year, Jack Ma accepted a 20-minute media interview at Ali's headquarters in Hangzhou. When he talked about Alipay's listing, he directly stated his position:<b>\"For various reasons, Alibaba has no way to be listed on A shares, so we hope that Alipay can be listed on China's A shares in the future.\"</b></p><p>Obviously, Jack Ma understood Chen Qizong's words. To further understand this statement, we still need to pull the timeline back to the Alipay split event three years ago.</p><p>In the first quarter of 2011, the People's Bank of China required payment companies applying for payment licenses to make a declaration on the percentage of foreign ownership. In May, Jack Ma changed the ownership of Alipay and terminated Alibaba Group's control agreement over Zhejiang's Alibaba. Zhejiang Alibaba is the wholly-owned holding company of Alipay. Which means,<b>Alipay has changed from a foreign-controlled company to a purely domestic company.</b></p><p><img src=\"https://static.tigerbbs.com/86b9f8383885bec01116a82dcc7cc0da\" tg-width=\"449\" tg-height=\"329\" referrerpolicy=\"no-referrer\"></p><p>▲ Alipay Spin-off Equity Change</p><p>However, this round of equity change in Jack Ma has not reached an agreement with the board of directors before. After the boat was done, Jack Ma paid corresponding compensation to Yahoo and SoftBank, the two major shareholders.</p><p>On July 29th, 2011, Alibaba Group, Yahoo and SoftBank formally signed an agreement on the equity transfer of Alipay. Alipay Holdings promised to give Alibaba Group a one-time cash return when it went public. The return is 37.5% of the total market value of Alipay's IPO price at the time of listing, which is not less than US$2 billion and not more than US$6 billion.</p><p>For this reason, Jack Ma bears the stigma of \"dishonesty\" and \"cracking down on foreign investors' confidence in VIE of Chinese stocks\". He rarely took the initiative to accept a large-scale exclusive interview with domestic media, and came forward to explain that everything was to obtain a payment license for Alipay compliance.</p><p>\"I said, brother, if you start a small joint venture, it doesn't matter.<b>You are engaged in Alipay, which is finance, and it is more and more touching sensitive areas. Finance is data, and something will go wrong.</b>Jerry Yang didn't believe it, but then they did. \" Jack Ma said in an exclusive interview with Esquire.</p><p>But at the time, most people thought that Jack Ma was using the government as a shield, and mostly mocked it. Jack Ma quit Weibo in anger.</p><p>Before withdrawing, Jack Ma sent out one last tweet. No text, just punctuation:<b>Question marks, exclamation marks, and a string of ellipses</b>。</p><p>Three years after the spin-off of Alipay, Ant Financial was established in 2014 to enter inclusive finance from the payment field.</p><p>Six years later, just before Ant went public, Jack Ma gave that famous speech at the Bund Financial Summit at the end of October 2020. On November 3rd, Shanghai Stock Exchange and Hong Kong Stock Exchange successively issued emergency notices to suspend the listing of Ant Financial Science and Technology Innovation Board and H shares.</p><p>At this moment, everyone suddenly realized.<b>Nine years ago, Jack Ma did not overestimate the Chinese government's resolve.</b></p><p><b>03</b></p><p><b>Torrent into the sea</b></p><p><b>New Economic Reform of A Shares and H Shares (2018-2019)</b></p><p>During the two sessions in 2018, Liu Shiyu, then chairman of China Securities Regulatory Commission, said when talking about the overseas listing of China's new economy companies that due to the specific institutional environment and market capacity at that time, some new economy enterprises in China chose to list overseas, which was a good thing. But it is also a pity that the country has not enjoyed the fruits of their growth.</p><p><b>\"In a new era, this regret can't happen again.\"</b>Liu Shiyu said.</p><p>\"If you stand on the wind, even pigs will fly.\" Lei Jun, who said this sentence, once again pushed Xiaomi into the forefront of the times.<b>He wants Xiaomi to become the first Internet company to list A shares in the mainland and H shares in Hong Kong simultaneously.</b></p><p>On May 3, 2018, Lei Jun held two Xiaomi mobile phones and personally flew to Hong Kong to visit Li Ka-shing, the richest man in Hong Kong. On the same day, Xiaomi submitted its listing prospectus to HKEx. Li Ka-shing loves to confirm Huo Jianning to the media that Li Ka-shing spent HK$230 million to subscribe for Xiaomi shares. In addition to Li Ka-shing, two domestic Internet giants, Jack Ma and Ma Huateng, also subscribed for Xiaomi shares.</p><p><img src=\"https://static.tigerbbs.com/c1dfd540577403bd287f47c1209b66c3\" tg-width=\"460\" tg-height=\"304\" referrerpolicy=\"no-referrer\"></p><p>▲ Lei Jun Meets with Li Ka-shing</p><p>In the mainland, Xiaomi has set a 12-day \"lightning\" record. On June 7th of the same year, Xiaomi applied to China Securities Regulatory Commission to issue CDR (depositary receipt) for listing, which was accepted on the same day. On the 14th, Xiaomi updated its prospectus, and received feedback from the CSRC that night, which is scheduled to be reviewed on the 19th.</p><p>At that time,<b>China Securities Regulatory Commission and Hong Kong Stock Exchange are scrambling to promote the listing reform of the new economy.</b></p><p>In December 2017, HKEx issued the Market Consultation Summary of the Framework Consultation Document on the Proposed Establishment of Innovation Board, announcing the acceptance of new economy companies with different voting rights structures to list in Hong Kong.</p><p>Three months later, the General Office of the State Council forwarded the \"Several Opinions on Carrying out the Pilot Program of Domestic Issuance of Shares or Depositary Receipts by Innovative Enterprises\" issued by the CSRC, allowing new economy enterprises listed overseas to issue CDRs (Depositary Receipts) in the mainland A-share market, and promoting new economy enterprises including the Internet to return to A-share listing.</p><p>However, Xiaomi was suddenly stopped listing in CDR in the mainland. On June 14, 2018, the CSRC issued 84 questions against Xiaomi. Five days later, Xiaomi announced that it would postpone the meeting of the Issuance Examination Committee to review the company's CDR issuance application. After listing in Hong Kong first, choose the opportunity to list in China by issuing CDRs.</p><p>The Hong Kong listing was also full of twists and turns. On July 9th of that year, Xiaomi completed its listing on the Hong Kong Stock Exchange. On the day of listing, Xiaomi shares were included in the composite constituent stocks of Hang Seng Index, and according to normal circumstances, they will enter Hong Kong Stock Connect, allowing mainland Chinese investors to directly buy Xiaomi shares.</p><p>Unexpectedly, the Shanghai and Shenzhen Stock Exchanges suddenly issued a notice on July 14th, temporarily refusing companies with different rights, foreign company stocks and stapled securities to be included in the scope of Hong Kong Stock Connect on the grounds that \"mainland investors are unfamiliar\". Xiaomi was turned away.</p><p>Two days later, Li Xiaojia, CEO of Hong Kong Stock Exchange, flew from Hong Kong to Beijing in an emergency to meet and negotiate with the relevant person in charge of China Securities Regulatory Commission. \"We have been communicating with the mainland Securities Regulatory Commission for weeks and months. It is best to package it all this time and move forward according to the normal procedures of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. However, mainland exchanges may have some different opinions.\" Li Xiaojia said.</p><p><b>This dispute is related to the future direction of listing of Chinese Internet companies. Can the door open to a new era?</b></p><p>For a long time, Chinese Internet companies have only had one option to list in the United States, because mainland A shares and Hong Kong H shares did not accept the same share structure with different rights in the past. Even if the HKEx is determined to reform, poor liquidity will still become a key constraint for Internet companies to go public in Hong Kong.</p><p>Only when Hong Kong Stock Connect accepts new economy companies and huge amounts of money from mainland China can go south, can the door of the Eastern World truly open to Internet companies.</p><p><b>The storm is temporary, and the direction is certain.</b></p><p>In 2018, HKEx regained the first place in the global exchange IPO ranking, and the annual IPO fund-raising amount reached HK$277.85 billion, a new high since 2010.</p><p>A total of 28 new economy companies and biotechnology companies were listed in Hong Kong throughout the year. Among them, Xiaomi and Meituan ranked the second and third largest companies in Hong Kong with HK$42.61 billion and HK$33.14 billion, respectively.</p><p>In October 2019, Shanghai Stock Exchange and Shenzhen Stock Exchange announced that Xiaomi and Meituan were included in Hong Kong Stock Connect.</p><p>Taking advantage of this momentum, Chinese Internet companies, including Ali, Netease and JD.COM, have returned from overseas and rushed to go to Hong Kong for secondary listing. By 2021, the Hong Kong market has gathered eight Internet giants: Tencent, Ali, Meituan, Aauto Quicker, JD.COM, Xiaomi, Baidu and Netease.</p><p><img src=\"https://static.tigerbbs.com/dd1e5900f6cb5582296cd123573d40b6\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>Source: HKEX</p><p>At the same stage, the listing of Chinese Internet companies in the United States ushered in the third peak. In 2018 and 2019, 38 and 32 Chinese companies went public in the United States respectively, most of which were mainly Internet new economy enterprises, including iQiyi, Douyu, Netease Youdao and so on.</p><p>In October 2019, China and the United States reached a consensus on the acquisition of audit work papers of listed companies in the United States audited by Hong Kong accounting firms and deposited in Mainland China. In response to a reporter's question, the CSRC said that the two sides \"maintain a smooth cooperative relationship\".</p><p>Everything seemed thriving.</p><p>People didn't expect that just a year later,<b>New crises, like volcanic lava, have accumulated for a long time and gushed out</b>。</p><p><b>04</b></p><p><b>New Crisis Age</b></p><p><b>The Dilemma and Future of Didi, Byte and Pinduoduo (2020-Today)</b></p><p>July 1st, the 100th anniversary of the founding of the Party. In the early morning of the same day, Didi went public in the United States and raised $4.4 billion.</p><p>This is the largest IPO of a Chinese company in the United States since 2014. There are no bell-ringing photos, no announcement on official website, few media reports, and employees don't post friends.</p><p>On July 2nd, China's Cyber Security Review Office issued an announcement stating that in order to prevent national data security risks, safeguard national security and protect public interests, Didi Chuxing will be reviewed for cyber security in accordance with the National Security Law and Cyber Security Law. During the review period, \"Didi Chuxing\" stopped new user registration. Didi's listing only appeared on Weibo hot search and media headlines.</p><p>On July 9th, all 25 apps of Didi Company were removed from the shelves.</p><p>Ray Dalio, founder of Bridgewater, the world's largest hedge fund, once published a 20,000-word article entitled \"The Changing World Order\" on his LinkedIn homepage. He pointed out that the \"Populism Index\", a measure of global conflict, has now reached an all-time high.</p><p>\"We are heading into an abyss of polarization and populism,\" Dalio warned,<b>The polarization between rich and poor, political polarization and ultra-nationalism we face today are very similar to those of World War II.</b></p><p><img src=\"https://static.tigerbbs.com/82a4ead3b25817350b19c65a0fb2c2ba\" tg-width=\"864\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>▲ The polarization between the rich and the poor leads to extreme nationalism, which is similar to that of World War II</p><p>Source: Bridgewater</p><p>On March 25, 2021, the Securities and Exchange Commission (SEC) issued an announcement passing a final amendment to the Foreign Company Accountability Act (HFCAA). The bill provides that,<b>Foreign issuers who fail to meet the U.S. Public Company Accounting Oversight Board (PCAOB) requirements for inspection of accounting firms for three consecutive years will be delisted.</b></p><p>Chinese Foreign Ministry spokeswoman Hua Chunying responded at a press conference: \"HFCAA is completely an unreasonable political suppression of Chinese listed companies in the United States, seriously distorting the basic norms of market economy that the United States has always advertised, and also depriving American investors and the American public of the opportunity to share the development dividends of Chinese enterprises.\"</p><p>According to the official data of PCAOB in the United States, as of April 2020,<b>Among the foreign listed companies that do not accept PCAOB inspection audit papers, companies in mainland China and Hong Kong account for nearly 90%.</b></p><p>Didi successfully threw itself into the eye of the typhoon in the storm of the Sino-US stock market game with its silent listing.</p><p>On July 7th, WeChat official account, a subsidiary of People's Daily, published two reports commenting on the Didi incident: \"Didi is far from the level of employment to make the government. If Didi dies later, the driver changes a platform to take orders, and we change a platform to take a taxi, and our life will not be affected in any way.\"</p><p>On July 8, U.S. Democratic Senator Chris Van Hollen called on the SEC to thoroughly investigate Didi's listing.</p><p><b>The Internet is in an eventful time. Some things look together and become intriguing.</b></p><p>Before the Didi incident, in March this year, Huang Zheng stepped down as CEO of Pinduoduo; In May, Zhang Yiming stepped down as CEO of ByteDance.</p><p>Previously, many people regarded this as the result of Internet antitrust. But they missed a key thread:</p><p><b>Didi and Pinduoduo are both listed in the United States. As for ByteDance, Trump's ban on Tiktok says it all.</b></p><p><b>Tencent and Meituan, Ma Huateng and Wang Xing, which are listed in Hong Kong, have been seated as CEOs.</b></p><p>All the recent Internet shocks around us are sending a signal to us:</p><p><b>In the Sino-US stock market game, in the past, the United States actively attacked and China passively defended will become history. The determination and actions of China's regulation have already begun to appear.</b></p><p>Some Internet companies are still stuck in the inertial thinking of the previous 20 years; Some Internet companies have sailed to new ports.</p><p><b>They were destined for very different destinies.</b></p><p><img src=\"https://static.tigerbbs.com/a76220741e2982f75e2d7176ce362e38\" tg-width=\"1080\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1626307243676","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Past events of listing of Chinese Internet companies</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPast events of listing of Chinese Internet companies\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">吴杨野餐会</strong><span class=\"h-time small\">2021-07-15 08:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In 1983, Gang Liu graduated from Peking University Law School and was assigned to the Ministry of Justice Secretariat, where he was responsible for writing daily reports for the minister.</p><p>A year later, he felt that the job content was boring and wanted to apply for a transfer. He was advised that secretarial status might be easier to promote.</p><p>In 1985, the state carried out the reform of the \"third echelon\" cadres. The Ministry of Justice selected young cadres to train at the grass-roots level, and Liu Gang was included. He voluntarily gave up his position in the grass-roots organ and chose to be a grass-roots lawyer.</p><p>After the training period expired, colleagues returned to the Ministry of Justice to continue their careers, but Liu Gang did not go back. He chose to stay in the law profession.</p><p>At that time, China's lawyer profession was just emerging, and everything was still in the period of ignorance. Liu Gang's main business is debt collection.</p><p>Since then, he has lived the life of \"debt collector migrant worker\": squeezing the hard seat of the train for two days and two nights, sleeping in Datongpu for one dollar a night, running wildly to chase the debtor, and avoiding the thugs and beatings of the debtor...</p><p>The turning point came in 1989. The Department of Justice and the British Bar Association have jointly launched a training programme for lawyers. After applying and passing the examination, Liu Gang was selected to receive internship training at a law firm in London, England.</p><p>He wanted to do the intellectual property that was hot in China at that time. But a senior partner at a British law firm advised him: \"I suggest you know about capital markets.\" Liu asked: \"What is a capital market?\"</p><p><b>\"A country as big as China will have a capital market sooner or later.\"</b>The partner of the British law firm said.</p><p>In 1990, China ushered in its own capital market, and the Shanghai Stock Exchange and Shenzhen Stock Exchange opened successively.</p><p><img src=\"https://static.tigerbbs.com/99e63397642efd52b0b6a3d4dc5643f2\" tg-width=\"640\" tg-height=\"493\" referrerpolicy=\"no-referrer\"></p><p>▲ In the 1990s, investors lined up at the entrance of the Shanghai Stock Exchange</p><p>(Photo | Pan Sophie, China News Service)</p><p>Two years later, China liberalized restrictions on private partnership law firms. Liu Gang and two friends rented an office outside Jianguomen and started their own law firm: Commercial Law Firm.</p><p>In 2000, Liu Gang got a key opportunity in his career. At that time, Sina was shocking the Nasdaq listing. If successful, it would become the first Chinese internet company to go public in the US.</p><p>Sina's listed entity is registered in the Cayman Islands. However, Chinese law restricts foreign investment in the Internet: foreign investment in the Chinese Internet is prohibited, and foreign companies are prohibited from conducting Internet business in China.</p><p>To bypass these investment restrictions, Liu helped Sina design a complex control architecture. He connects foreign investors and Chinese companies through a series of complex legal contracts that enable overseas listed entities to control domestic operating entities through agreements without direct equity relationships.</p><p><b>Liu Gang used a paper VIE structure to open the curtain of overseas listing of Chinese Internet companies.</b></p><p>In April 2000, Sina successfully landed on NASDAQ in the United States. In June and July of the same year, Netease and Sohu successively completed the listing of Nasdaq. Liu Gang participated in the overseas listing of China's three major portals. This is very rare in the lawyer profession.</p><p>Since then, for more than 20 years, almost all Chinese Internet companies have been listed overseas, adopting the VIE structure of \"Sina mode\". As of May 2021, there were a total of 248 companies in China listed in the United States, with a combined market capitalization of up to $2.1 trillion. Among them, the number of Internet-related information technology companies is the largest, accounting for more than one quarter.</p><p><b>However, the VIE structure has also become the fulcrum of the stock market game between China and the United States in the next 20 years.</b></p><p>In Liu Gang's statement, the VIE structure \"enables overseas investment companies to control the operation of domestic companies without direct equity relationship\".</p><p>However, in the statement of the US Congress, the VIE structure \"ensures that economic benefits flow to foreign investors, while keeping operational control of the business in Chinese companies\".</p><p><b>This special structure has become a typical feature of Chinese stocks, and it has also laid the groundwork for controversy and crisis for Chinese Internet companies' overseas listing in 20 years.</b></p><p>The ten-year history of overseas listing after the global financial crisis in 2008 is the key to helping us understand the current situation of Chinese Internet companies. I've divided it into four phases, which are:</p><p><img src=\"https://static.tigerbbs.com/6e5b6f69c3b6db65256d2ee9f3c20b46\" tg-width=\"965\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p><p><b>01</b></p><p><b>Hunting Chinese Companies</b></p><p><b>The first round of overseas listing and short selling (2010-2013)</b></p><p>On November 1st, 2011, Zhou Hongyi rushed back to the company in the middle of the night, and called a bunch of corresponding supervisors such as website, browser, investor relations, finance, legal affairs and public relations.</p><p>At 9 o'clock that night, Citron Research, a short-selling institution, issued the first short-selling report against Qihoo 360 before the US stock market opened. One hour later, the report was sent to Zhou Hongyi. \"We were surprised when Citron shorted 360,\" he said.</p><p>On the same day, Qihoo 360's stock fell by about 10%.</p><p>Seven months ago, Qihoo 360 landed on the New York Stock Exchange. Along with it, a large number of Chinese companies have landed on the U.S. stock market.</p><p>After the 2008 financial crisis, the US economy has recovered rapidly since 2009, and the international capital market is active. At the same time, Chinese Internet companies are in a period of rapid expansion and are in urgent need of capital.</p><p>A large number of Internet companies rushed to the United States to seek listings.<b>From 2010 to 2012, Internet companies such as Gaode Map, Qihoo 360, Youku and Tudou successfully listed in the United States, starting an overseas boom of Chinese stocks.</b></p><p><img src=\"https://static.tigerbbs.com/53b96a1e444ead872f2cd9531b979af2\" tg-width=\"692\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>▲ Changes in the number of Chinese companies listed in the United States from 1970 to 2020</p><p>Data source: Zero2IPO Research Center</p><p>In 2010, a total of about 50 Chinese stocks landed in the US stock market, and the number of overseas listings of Chinese companies broke through the peak, which also attracted the attention of \"market vultures\" short-selling institutions.</p><p>Muddy Waters fires its first bullet. In 2010, Muddy Waters' founder Carson Block threw out a 30-page short-selling report of Oriental Paper, and Oriental Paper's stock price plummeted, and Muddy Waters became famous in the First War.</p><p>Subsequently, American short-selling institutions represented by Muddy Waters and Citron successively targeted Chinese stocks such as Focus Media, Qihoo 360 and New Oriental. Among them, Internet companies have become the hardest hit areas of hunted Chinese stocks.</p><p>Under this round of hunting by short-selling institutions, more than 40 Chinese enterprises had to suspend trading and delist.<b>China stocks collectively fall into a crisis of trust.</b></p><p><b>VIE is a key target for U.S. institutions to short Chinese companies.</b>\"There is a VIE structure in China's Internet industry. Americans think that you have no legal requirements, and they will always feel unsure,\" Zhou Hongyi said.</p><p>On July 17, 2012, New Oriental was investigated by the U.S. Securities and Exchange Commission (SEC) because of the adjustment of VIE structure. Muddy Waters immediately released a short-selling report of more than 90 pages, pointing out that New Oriental's VIE structure has huge hidden dangers and lacks control.</p><p>Within 48 hours, New Oriental's share price fell by 60%, and its share price hit a five-year low.</p><p>At the same time, the New Oriental incident caused the international market to worry about the VIE structure, and Chinese stocks generally plummeted. Ctrip, Sina, etc. fell by more than 7%, while Dangdang, Qihoo 360, Netease and Sohu fell by more than 4%.</p><p>After the outbreak of the short-selling tide of Chinese stocks, the US regulators made a further strong attack. In December 2012, the SEC initiated administrative proceedings against Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers and the China Division of BDO.</p><p>The SEC asked them to submit the audit papers of nine Chinese stocks listed in the United States, but the Big Five accounting firms refused this request. They were unwilling to violate Chinese laws.</p><p>The move has left Chinese companies listed in the United States in a position without auditors, forcing Chinese companies to delist.</p><p>The delisting tide of Chinese stocks is getting fiercer and fiercer. The number of Chinese companies listed in the United States decreased from more than 240 in 2010 to less than 200 in 2012.</p><p><img src=\"https://static.tigerbbs.com/2c640046a4853c23afbcdbf6ee3d55e5\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>▲ 2010-2012 U.S. Listed Chinese Concept Stocks Encountered Short-selling Wave</p><p>Source: Guosheng Securities</p><p>With frequent conflicts, China and the United States have included auditing cross-border law enforcement in the strategic economic dialogue. In 2013, the CSRC and the Ministry of Finance signed a law enforcement cooperation agreement with the Accounting Regulatory Commission for Listed Companies (PCAOB) of the United States to formally carry out cross-border law enforcement cooperation in audit.</p><p><b>However, the issue of data sovereignty and confidentiality remains a difficult contradiction between China and the United States.</b>All kinds of subsequent storms also arose because of this.</p><p><b>02</b></p><p><b>Shadows beneath the feast</b></p><p><b>Ali's Listing and the Storm of Censorship of China Concept Stocks (2014-2017)</b></p><p>In September 2014, Jack Ma entered United Nations Headquarters. One of the purposes of his trip was to meet with UN Secretary-General Ban Ki-moon through the recommendation of Hang Lung Group Chairman Chen Qizong.</p><p>The two of them stood at the entrance of the elevator. When Ban Ki-moon came up, Chen Qizong said this to Ma Yun:</p><p>\"I know that Ali was forced to go public in the United States. Hong Kong has no different rights to the same shares, so you can't help it.<b>But Jack Ma, you have to be careful, Americans have long, long hands. One day he will give you trouble.</b>”</p><p>A week ago, Alibaba was successfully listed on the New York Stock Exchange in the United States on September 19th. The revelry flooded Wall Street.</p><p>That night, on the big black screen of NYSE, the numbers representing Alibaba's opening price kept rolling and climbing-70... 80... 90...</p><p>\"Opening price 92.7!\" a voice shouted.</p><p>Jack Ma looked up and glanced excitedly at the numbers on the screen. He picked up the hammer and swiftly struck a golden bronze bell. The crowd surrounding him immediately cheered, flashing lights.</p><p>After more than 2 hours and 12 rounds of inquiry, Alibaba stock finally opened at 23: 53 that night. The opening price was $92.7, up 36.32% from the issue price of $68. The total amount of financing reached $34.125 billion, setting a record for IPO financing in global history. Alibaba's total market capitalization reached $228.5 billion, exceeding the GDP of more than 100 countries.</p><p><img src=\"https://static.tigerbbs.com/b666ad1064a3f877e706adaec7dfcd17\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p><p>▲ Jack Ma of Alibaba's US Listing Site in 2014</p><p><b>A number of American brokerages and international capital shared this capital feast.</b>Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and others are among them.</p><p>When Alibaba landed on the NYSE, SoftBank held 34.4% of the shares, making it the largest shareholder; Yahoo holds 22.6% of the shares, ranking second. According to the opening price of Alibaba's listing alone, the market value of SoftBank and Yahoo's holdings has reached $78.604 billion and $51.641 billion respectively, not counting the part they previously cashed out from Ali.</p><p>2014 is another peak for Chinese Internet companies to go public in the United States. In addition to Ali, JD.COM, Weibo, Tuniu, Zhaopin Recruitment, etc. have also landed on the New York Stock Exchange and Nasdaq in the United States. A total of 12 Internet companies have completed their listing in the United States throughout the year.</p><p>However, the month that Alibaba went public, the U.S. Congressional China Economic and Security Review Committee (UCESRC) issued a document entitled<b>Risks of Chinese Internet Companies on the U.S. Stock Exchange</b>The investigation report of.</p><p>The report uses 17 pages to point out the risks of listing of Chinese Internet companies, pointing out that the VIE structure is untrustworthy. \"Many U.S. legal experts believe that the VIE structure is technically illegal under Chinese law and advise U.S. investors against such investments,\" the UCESRC declared.</p><p>On the night of Double Eleven in the same year, Jack Ma accepted a 20-minute media interview at Ali's headquarters in Hangzhou. When he talked about Alipay's listing, he directly stated his position:<b>\"For various reasons, Alibaba has no way to be listed on A shares, so we hope that Alipay can be listed on China's A shares in the future.\"</b></p><p>Obviously, Jack Ma understood Chen Qizong's words. To further understand this statement, we still need to pull the timeline back to the Alipay split event three years ago.</p><p>In the first quarter of 2011, the People's Bank of China required payment companies applying for payment licenses to make a declaration on the percentage of foreign ownership. In May, Jack Ma changed the ownership of Alipay and terminated Alibaba Group's control agreement over Zhejiang's Alibaba. Zhejiang Alibaba is the wholly-owned holding company of Alipay. Which means,<b>Alipay has changed from a foreign-controlled company to a purely domestic company.</b></p><p><img src=\"https://static.tigerbbs.com/86b9f8383885bec01116a82dcc7cc0da\" tg-width=\"449\" tg-height=\"329\" referrerpolicy=\"no-referrer\"></p><p>▲ Alipay Spin-off Equity Change</p><p>However, this round of equity change in Jack Ma has not reached an agreement with the board of directors before. After the boat was done, Jack Ma paid corresponding compensation to Yahoo and SoftBank, the two major shareholders.</p><p>On July 29th, 2011, Alibaba Group, Yahoo and SoftBank formally signed an agreement on the equity transfer of Alipay. Alipay Holdings promised to give Alibaba Group a one-time cash return when it went public. The return is 37.5% of the total market value of Alipay's IPO price at the time of listing, which is not less than US$2 billion and not more than US$6 billion.</p><p>For this reason, Jack Ma bears the stigma of \"dishonesty\" and \"cracking down on foreign investors' confidence in VIE of Chinese stocks\". He rarely took the initiative to accept a large-scale exclusive interview with domestic media, and came forward to explain that everything was to obtain a payment license for Alipay compliance.</p><p>\"I said, brother, if you start a small joint venture, it doesn't matter.<b>You are engaged in Alipay, which is finance, and it is more and more touching sensitive areas. Finance is data, and something will go wrong.</b>Jerry Yang didn't believe it, but then they did. \" Jack Ma said in an exclusive interview with Esquire.</p><p>But at the time, most people thought that Jack Ma was using the government as a shield, and mostly mocked it. Jack Ma quit Weibo in anger.</p><p>Before withdrawing, Jack Ma sent out one last tweet. No text, just punctuation:<b>Question marks, exclamation marks, and a string of ellipses</b>。</p><p>Three years after the spin-off of Alipay, Ant Financial was established in 2014 to enter inclusive finance from the payment field.</p><p>Six years later, just before Ant went public, Jack Ma gave that famous speech at the Bund Financial Summit at the end of October 2020. On November 3rd, Shanghai Stock Exchange and Hong Kong Stock Exchange successively issued emergency notices to suspend the listing of Ant Financial Science and Technology Innovation Board and H shares.</p><p>At this moment, everyone suddenly realized.<b>Nine years ago, Jack Ma did not overestimate the Chinese government's resolve.</b></p><p><b>03</b></p><p><b>Torrent into the sea</b></p><p><b>New Economic Reform of A Shares and H Shares (2018-2019)</b></p><p>During the two sessions in 2018, Liu Shiyu, then chairman of China Securities Regulatory Commission, said when talking about the overseas listing of China's new economy companies that due to the specific institutional environment and market capacity at that time, some new economy enterprises in China chose to list overseas, which was a good thing. But it is also a pity that the country has not enjoyed the fruits of their growth.</p><p><b>\"In a new era, this regret can't happen again.\"</b>Liu Shiyu said.</p><p>\"If you stand on the wind, even pigs will fly.\" Lei Jun, who said this sentence, once again pushed Xiaomi into the forefront of the times.<b>He wants Xiaomi to become the first Internet company to list A shares in the mainland and H shares in Hong Kong simultaneously.</b></p><p>On May 3, 2018, Lei Jun held two Xiaomi mobile phones and personally flew to Hong Kong to visit Li Ka-shing, the richest man in Hong Kong. On the same day, Xiaomi submitted its listing prospectus to HKEx. Li Ka-shing loves to confirm Huo Jianning to the media that Li Ka-shing spent HK$230 million to subscribe for Xiaomi shares. In addition to Li Ka-shing, two domestic Internet giants, Jack Ma and Ma Huateng, also subscribed for Xiaomi shares.</p><p><img src=\"https://static.tigerbbs.com/c1dfd540577403bd287f47c1209b66c3\" tg-width=\"460\" tg-height=\"304\" referrerpolicy=\"no-referrer\"></p><p>▲ Lei Jun Meets with Li Ka-shing</p><p>In the mainland, Xiaomi has set a 12-day \"lightning\" record. On June 7th of the same year, Xiaomi applied to China Securities Regulatory Commission to issue CDR (depositary receipt) for listing, which was accepted on the same day. On the 14th, Xiaomi updated its prospectus, and received feedback from the CSRC that night, which is scheduled to be reviewed on the 19th.</p><p>At that time,<b>China Securities Regulatory Commission and Hong Kong Stock Exchange are scrambling to promote the listing reform of the new economy.</b></p><p>In December 2017, HKEx issued the Market Consultation Summary of the Framework Consultation Document on the Proposed Establishment of Innovation Board, announcing the acceptance of new economy companies with different voting rights structures to list in Hong Kong.</p><p>Three months later, the General Office of the State Council forwarded the \"Several Opinions on Carrying out the Pilot Program of Domestic Issuance of Shares or Depositary Receipts by Innovative Enterprises\" issued by the CSRC, allowing new economy enterprises listed overseas to issue CDRs (Depositary Receipts) in the mainland A-share market, and promoting new economy enterprises including the Internet to return to A-share listing.</p><p>However, Xiaomi was suddenly stopped listing in CDR in the mainland. On June 14, 2018, the CSRC issued 84 questions against Xiaomi. Five days later, Xiaomi announced that it would postpone the meeting of the Issuance Examination Committee to review the company's CDR issuance application. After listing in Hong Kong first, choose the opportunity to list in China by issuing CDRs.</p><p>The Hong Kong listing was also full of twists and turns. On July 9th of that year, Xiaomi completed its listing on the Hong Kong Stock Exchange. On the day of listing, Xiaomi shares were included in the composite constituent stocks of Hang Seng Index, and according to normal circumstances, they will enter Hong Kong Stock Connect, allowing mainland Chinese investors to directly buy Xiaomi shares.</p><p>Unexpectedly, the Shanghai and Shenzhen Stock Exchanges suddenly issued a notice on July 14th, temporarily refusing companies with different rights, foreign company stocks and stapled securities to be included in the scope of Hong Kong Stock Connect on the grounds that \"mainland investors are unfamiliar\". Xiaomi was turned away.</p><p>Two days later, Li Xiaojia, CEO of Hong Kong Stock Exchange, flew from Hong Kong to Beijing in an emergency to meet and negotiate with the relevant person in charge of China Securities Regulatory Commission. \"We have been communicating with the mainland Securities Regulatory Commission for weeks and months. It is best to package it all this time and move forward according to the normal procedures of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. However, mainland exchanges may have some different opinions.\" Li Xiaojia said.</p><p><b>This dispute is related to the future direction of listing of Chinese Internet companies. Can the door open to a new era?</b></p><p>For a long time, Chinese Internet companies have only had one option to list in the United States, because mainland A shares and Hong Kong H shares did not accept the same share structure with different rights in the past. Even if the HKEx is determined to reform, poor liquidity will still become a key constraint for Internet companies to go public in Hong Kong.</p><p>Only when Hong Kong Stock Connect accepts new economy companies and huge amounts of money from mainland China can go south, can the door of the Eastern World truly open to Internet companies.</p><p><b>The storm is temporary, and the direction is certain.</b></p><p>In 2018, HKEx regained the first place in the global exchange IPO ranking, and the annual IPO fund-raising amount reached HK$277.85 billion, a new high since 2010.</p><p>A total of 28 new economy companies and biotechnology companies were listed in Hong Kong throughout the year. Among them, Xiaomi and Meituan ranked the second and third largest companies in Hong Kong with HK$42.61 billion and HK$33.14 billion, respectively.</p><p>In October 2019, Shanghai Stock Exchange and Shenzhen Stock Exchange announced that Xiaomi and Meituan were included in Hong Kong Stock Connect.</p><p>Taking advantage of this momentum, Chinese Internet companies, including Ali, Netease and JD.COM, have returned from overseas and rushed to go to Hong Kong for secondary listing. By 2021, the Hong Kong market has gathered eight Internet giants: Tencent, Ali, Meituan, Aauto Quicker, JD.COM, Xiaomi, Baidu and Netease.</p><p><img src=\"https://static.tigerbbs.com/dd1e5900f6cb5582296cd123573d40b6\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>Source: HKEX</p><p>At the same stage, the listing of Chinese Internet companies in the United States ushered in the third peak. In 2018 and 2019, 38 and 32 Chinese companies went public in the United States respectively, most of which were mainly Internet new economy enterprises, including iQiyi, Douyu, Netease Youdao and so on.</p><p>In October 2019, China and the United States reached a consensus on the acquisition of audit work papers of listed companies in the United States audited by Hong Kong accounting firms and deposited in Mainland China. In response to a reporter's question, the CSRC said that the two sides \"maintain a smooth cooperative relationship\".</p><p>Everything seemed thriving.</p><p>People didn't expect that just a year later,<b>New crises, like volcanic lava, have accumulated for a long time and gushed out</b>。</p><p><b>04</b></p><p><b>New Crisis Age</b></p><p><b>The Dilemma and Future of Didi, Byte and Pinduoduo (2020-Today)</b></p><p>July 1st, the 100th anniversary of the founding of the Party. In the early morning of the same day, Didi went public in the United States and raised $4.4 billion.</p><p>This is the largest IPO of a Chinese company in the United States since 2014. There are no bell-ringing photos, no announcement on official website, few media reports, and employees don't post friends.</p><p>On July 2nd, China's Cyber Security Review Office issued an announcement stating that in order to prevent national data security risks, safeguard national security and protect public interests, Didi Chuxing will be reviewed for cyber security in accordance with the National Security Law and Cyber Security Law. During the review period, \"Didi Chuxing\" stopped new user registration. Didi's listing only appeared on Weibo hot search and media headlines.</p><p>On July 9th, all 25 apps of Didi Company were removed from the shelves.</p><p>Ray Dalio, founder of Bridgewater, the world's largest hedge fund, once published a 20,000-word article entitled \"The Changing World Order\" on his LinkedIn homepage. He pointed out that the \"Populism Index\", a measure of global conflict, has now reached an all-time high.</p><p>\"We are heading into an abyss of polarization and populism,\" Dalio warned,<b>The polarization between rich and poor, political polarization and ultra-nationalism we face today are very similar to those of World War II.</b></p><p><img src=\"https://static.tigerbbs.com/82a4ead3b25817350b19c65a0fb2c2ba\" tg-width=\"864\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>▲ The polarization between the rich and the poor leads to extreme nationalism, which is similar to that of World War II</p><p>Source: Bridgewater</p><p>On March 25, 2021, the Securities and Exchange Commission (SEC) issued an announcement passing a final amendment to the Foreign Company Accountability Act (HFCAA). The bill provides that,<b>Foreign issuers who fail to meet the U.S. Public Company Accounting Oversight Board (PCAOB) requirements for inspection of accounting firms for three consecutive years will be delisted.</b></p><p>Chinese Foreign Ministry spokeswoman Hua Chunying responded at a press conference: \"HFCAA is completely an unreasonable political suppression of Chinese listed companies in the United States, seriously distorting the basic norms of market economy that the United States has always advertised, and also depriving American investors and the American public of the opportunity to share the development dividends of Chinese enterprises.\"</p><p>According to the official data of PCAOB in the United States, as of April 2020,<b>Among the foreign listed companies that do not accept PCAOB inspection audit papers, companies in mainland China and Hong Kong account for nearly 90%.</b></p><p>Didi successfully threw itself into the eye of the typhoon in the storm of the Sino-US stock market game with its silent listing.</p><p>On July 7th, WeChat official account, a subsidiary of People's Daily, published two reports commenting on the Didi incident: \"Didi is far from the level of employment to make the government. If Didi dies later, the driver changes a platform to take orders, and we change a platform to take a taxi, and our life will not be affected in any way.\"</p><p>On July 8, U.S. Democratic Senator Chris Van Hollen called on the SEC to thoroughly investigate Didi's listing.</p><p><b>The Internet is in an eventful time. Some things look together and become intriguing.</b></p><p>Before the Didi incident, in March this year, Huang Zheng stepped down as CEO of Pinduoduo; In May, Zhang Yiming stepped down as CEO of ByteDance.</p><p>Previously, many people regarded this as the result of Internet antitrust. But they missed a key thread:</p><p><b>Didi and Pinduoduo are both listed in the United States. As for ByteDance, Trump's ban on Tiktok says it all.</b></p><p><b>Tencent and Meituan, Ma Huateng and Wang Xing, which are listed in Hong Kong, have been seated as CEOs.</b></p><p>All the recent Internet shocks around us are sending a signal to us:</p><p><b>In the Sino-US stock market game, in the past, the United States actively attacked and China passively defended will become history. The determination and actions of China's regulation have already begun to appear.</b></p><p>Some Internet companies are still stuck in the inertial thinking of the previous 20 years; Some Internet companies have sailed to new ports.</p><p><b>They were destined for very different destinies.</b></p><p><img src=\"https://static.tigerbbs.com/a76220741e2982f75e2d7176ce362e38\" tg-width=\"1080\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/QItPs3pB6CJ5Dn89MQYL2A\">吴杨野餐会</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1fc1f5e2fa377c378fa230c10e0849a2","relate_stocks":{"160636":"互联网","161025":"移动互联"},"source_url":"https://mp.weixin.qq.com/s/QItPs3pB6CJ5Dn89MQYL2A","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111811630","content_text":"1983年，刘钢从北京大学法学院毕业，被分配到司法部秘书处，负责为部长撰写日常报告。\n一年后，他感觉工作内容枯燥，想申请调职。有人劝告他，秘书身份可能会更容易得到提升。\n1985年，国家推行“第三梯队”干部改革。司法部挑选年轻干部到基层锻炼，刘钢被列入其中。他主动放弃了基层机关的岗位，选择做一名基层律师。\n锻炼期满，同事们纷纷回到司法部继续职业生涯，但刘钢没有回去。他选择留在律师行业。\n当时，中国律师行业刚刚兴起，一切尚在蒙昧期。刘钢的主要业务是讨债。\n从此，他过上了“讨债民工”的生活：两天两夜挤火车硬座，睡一块钱一晚的大通铺，狂奔追赶欠款人，躲避债务人的打手与围殴……\n转折点出现在1989年。司法部和英国律师协会联合启动一个律师培训项目。刘钢申请并通过考试后，被选派往英国伦敦的一家律师事务所接受实习培训。\n他想做当时在中国大热的知识产权。但英国律所的一位高级合伙人建议他：“我建议你了解一下资本市场。”刘钢问：“什么是资本市场？”\n“中国那么大的国家，早晚会有资本市场。”那位英国律所合伙人说。\n1990年，中国迎来属于自己的资本市场，上海交易所和深圳交易所先后开业。\n\n▲1990年代，股民在上海交易所门口排队\n（摄影 | 中新社 潘索菲）\n两年后，中国放开私人合伙制律师事务所限制。刘钢和两个朋友在建国门外租下一间办公室，创办起自己的律师事务所：通商律师事务所。\n2000年，刘钢得到职业生涯的一次关键机会。当时新浪正在冲击纳斯达克上市。如果成功，它将成为第一家在美国上市的中国互联网公司。\n新浪的上市主体注册在开曼群岛。但中国法律对外资进入互联网领域存在限制：禁止外资投资中国互联网，也禁止外国公司在中国开展互联网业务。\n为了绕过这些投资限制，刘钢帮助新浪设计了一套复杂的控制架构。他将外国投资者和中国公司通过一系列复杂的法律合同相连接，使海外上市实体在没有直接股权关系下，通过协议控制国内的运营实体。\n刘钢用一纸VIE架构，拉开中国互联网公司海外上市的大幕。\n2000年4月，新浪成功登陆美国纳斯达克。同年6月、7月，网易和搜狐相继完成纳斯达克上市。中国三大门户网站海外上市，刘钢均参与其中。这在律师行业非常罕见。\n此后20余年，几乎所有中国互联网公司海外上市，均采取“新浪模式”的VIE架构。截至2021年5月，中国共有248家公司在美国上市，总市值高达2.1万亿美元。其中互联网相关的信息技术公司数量最多，比例达四分之一以上。\n然而，VIE架构也成为今后20年中美两国股市博弈的支点。\n在刘钢的表述里，VIE架构“使境外投资公司在没有直接股权关系的情况下，控制国内公司的运营”。\n但在美国国会的表述中，VIE 架构则“保证了经济利益流向外国投资者，同时对业务的经营控制留在中国公司”。\n这种特殊架构，成为中概股的典型特征，也为中国互联网公司20年海外上市路埋下争议与危机的伏笔。\n08年全球金融危机后的十年海外上市史，是帮助我们理解中国互联网公司目前处境的关键。我将其分为四个阶段，分别为：\n\n01\n围猎中国公司\n第一轮海外上市与做空潮（2010—2013）\n2011年11月1日，周鸿祎半夜赶回公司，把网址站、浏览器、投资者关系、财务、法务、公关等相应一堆主管都叫了过来。\n当晚9点，做空机构香橼研究（Citron Research）赶在美国股市开市前，发出了针对奇虎360公司的第一份做空报告。1个小时后，报告送到周鸿祎手中。“Citron做空360时，我们觉得很惊讶。”他表示。\n当天，奇虎360的股票跌去约10%。\n7个月前，奇虎360登陆美国纽交所上市。和它一同登陆美国股市的，还有一大批中国公司。\n08年金融危机后，美国经济2009年起快速复苏，国际资本市场活跃。同一时期，中国互联网公司正在飞速扩张期，迫切需要资金。\n大批互联网公司奔赴美国寻求上市。从2010年到2012年，高德地图、奇虎360、优酷、土豆等互联网公司先后成功在美国上市，开启海外的中概股热潮。\n\n▲1970-2020年中国公司赴美上市数量变化\n数据来源：清科研究中心\n2010 年共计约 50 家中概股登陆美股市场，中国公司海外上市的数量突破峰值，也吸引了“市场秃鹫”做空机构们的目光。\n浑水公司（Muddy Waters）射出第一颗子弹。2010 年，浑水创始人卡森·布洛克（Carson Block）抛出一份30页的东方纸业做空报告，东方纸业股价大跌，浑水一战成名。\n随后，以浑水、香橼为代表的美国做空机构，相继把枪口瞄准了分众传媒、奇虎360、新东方等中概股。其中互联网公司成为被围猎的中概股重灾区。\n此轮做空机构围猎下，超过 40 家中国企业不得不停牌、退市。中概股集体陷入信任危机。\nVIE是美国机构做空中国公司的一个关键靶子。“中国互联网行业存在VIE结构。美国人认为你没有法律规定，就永远觉得心里没底。”周鸿祎说。\n2012年7月17日，新东方因为VIE架构调整，遭受美国证券交易委员会（SEC）调查。浑水随即发布一份长达90多页的做空报告，指出新东方VIE结构存在巨大隐患，缺乏控制力。\n48小时内，新东方股价跌去60%，股价创5年新低。\n新东方事件同时引发国际市场担忧VIE架构，中概股普遍大跌。携程、新浪等跌幅超过7%，当当网、奇虎360、网易、搜狐等跌幅超过4%。\n中概股做空潮爆发后，美国监管方进一步强势出击。2012年12月，SEC 对德勤、安永、毕马威、普华永道，以及德豪五大会计师事务所中国分部发起行政诉讼。\nSEC要求他们提交9家在美上市的中概股审计底稿，但五大会计师事务所拒绝了这一要求，他们不愿触犯中国法律。\n这一举动导致在美上市的中国企业陷入没有审计方的境地，迫使中国公司摘牌退市。\n中概股退市潮越演越烈。在美上市的中国公司由2010的240余家，减少到2012年的不足200家。\n\n▲ 2010-2012年美国上市中概股遭遇做空潮\n数据来源：国盛证券\n冲突频发，中美两国将审计跨境执法纳入战略经济对话。2013 年，中国证监会和财政部与美国上市公司会计监管委员会（PCAOB） 签订执法合作协议，正式开展审计跨境执法合作。\n但数据主权和保密问题仍是中美难以协调的矛盾。后续种种风波，也因此而起。\n02\n盛宴下的暗影\n阿里上市与中概股审查风暴（2014—2017）\n2014年9月，马云步入联合国总部。他此行的目的之一，是通过恒隆集团董事长陈启宗引荐，与联合国秘书长潘基文见面。\n他们两个人站在电梯口，等潘基文上来时，陈启宗对马云说了这样一番话：\n“我知道阿里到美国上市是被逼的，香港没有同股不同权，你是没办法。但是马云你要小心，美国人的手是伸的很长很长的。总有一天他会给你麻烦。”\n一个星期前，阿里巴巴9月19日在美国纽交所成功挂牌上市。狂欢充斥着整个华尔街。\n当晚，纽交所黑色大屏幕上，代表阿里巴巴开盘价的数字不断滚动，持续攀升——70……80……90……\n“开盘价92.7！”一个声音大喊。\n马云抬起头，兴奋地看了一眼屏幕上的数字。他拿起锤子，快速敲击着一个金色铜钟。包围着他的人群随即欢呼起来，闪光灯此起彼伏。\n经过2个多小时、12轮询价，阿里巴巴股票在当晚23点53分最终开盘。开盘价92.7美元，比起发行价68美元大涨36.32%。融资总金额高达341.25亿美元，创下全球历史上IPO融资最高纪录。阿里巴巴总市值达到2285亿美元，超过100多个国家的GDP。\n\n▲ 2014年阿里巴巴美国上市现场的马云\n多家美国券商和国际资本分享了这次资本盛宴。花旗、瑞士信贷、德意志银行、高盛、摩根大通、摩根士丹利等均位列其中。\n阿里巴巴登陆纽交所时，软银持股34.4%，为第一大股东；雅虎持股比例22.6%，居第二位。仅按阿里巴巴上市开盘价来算，软银和雅虎的持股市值已分别高达786.04亿美元和516.41亿美元，这还不算他们此前从阿里套现的部分。\n2014年是中国互联网公司赴美上市的又一波高峰。除了阿里，京东、微博、途牛、智联招聘等也先后登陆美国纽交所和纳斯达克，全年共有12家互联网公司在美完成上市。\n然而，就在阿里巴巴上市当月，美国国会中国经济与安全审查委员会（UCESRC）发布了一份名为《中国互联网公司在美国证券交易所的风险》的调查报告。\n报告用17页篇幅指出针对中国互联网公司上市的各项风险，直指VIE架构不值得信任。UCESRC宣称：“许多美国法律专家认为，根据中国法律，VIE 结构在技术上是非法的，并建议美国投资者不要进行此类投资。”\n同年双十一当晚，马云在杭州阿里总部接受20分钟的媒体采访，谈到支付宝上市时直接表态：“由于各种原因，阿里巴巴没有办法在A股上市，所以我们希望未来支付宝能够在中国A股上市。”\n显然，马云听懂了陈启宗的话。而要进一步理解这个表态，我们还需要把时间线拉回到三年前的支付宝拆分事件上。\n2011 年第一季度，中国央行要求申请支付牌照的支付企业对外资的持股比例作出声明。5月，马云变更支付宝的所有权，终止了阿里巴巴集团对浙江阿里巴巴的控制协议。浙江阿里巴巴为支付宝的全资控股公司。这意味着，支付宝从外资控股变为了一家纯内资公司。\n\n▲ 支付宝分拆股权变更\n但马云此轮股权变更，此前并未跟董事会达成协议。木已成舟后，马云对雅虎和软银两位大股东给出了相应补偿。\n2011 年 7 月 29 日，阿里巴巴集团、雅虎和软银就支付宝股权转让事件正式签署协议。支付宝控股公司承诺上市时给以阿里巴巴集团一次性的现金回报。回报额为支付宝上市时 IPO 价总市值的 37.5%，不低于 20 亿美元且不超过 60 亿美元。\n马云为此背上“不守诚信”，“打击国外投资者对中概股VIE信心”的骂名。他罕见地主动接受国内媒体大篇幅独家专访，出面解释一切都是为了支付宝合规获取支付牌照。\n“我说，兄弟，你如果搞个小合资企业，没关系。你搞的是支付宝，是金融，越来越触及到敏感地带。金融是数据，一定会出问题的。杨致远不相信，但后来他们相信了。”马云在接受《时尚先生》专访时说。\n但当时，大多数人认为马云是拿政府做挡箭牌，对此抱以讥笑嘲讽居多。马云愤而退出微博。\n退出前，马云发出了最后一条微博。没有文字，只有标点：问号，叹号，以及一串省略号。\n支付宝分拆三年后，2014年蚂蚁金服成立，从支付领域进军普惠金融。\n六年后，就在蚂蚁金服上市前夕，马云2020年10月底在外滩金融峰会做出了那篇著名的演讲。11月3号，上交所和港交所先后发出紧急通知，暂缓蚂蚁金服科创板和H股上市。\n这时，大家才恍然大悟。九年前，马云没有高估中国政府的决心。\n03\n洪流入海\nA股、H股新经济改革（2018-2019）\n2018年两会期间，时任中国证监会主席刘士余谈到中国新经济公司海外上市时称，限于当时的特定制度环境和市场容量，一些主体在中国的新经济企业选择到境外上市，这是好事。但国内没有享受到它们增长的成果，也是一个遗憾。\n“进入新时代，这个遗憾就不能再发生了。”刘士余说。\n“站在风口上，猪都会飞。”说出这句话的雷军，再一次把小米推上时代风口。他要让小米成为第一个内地A股和香港H股同步上市的互联网公司。\n2018年5月3日，雷军手握两款小米手机，亲自飞往香港拜访香港首富李嘉诚。就在同一天，小米向港交所递交上市招股书。李嘉诚爱将霍建宁向媒体证实，李嘉诚斥资2.3亿港元认购小米股票。除了李嘉诚，国内两大互联网巨头马云、马化腾也一同认购小米股票。\n\n▲ 雷军会见李嘉诚\n在内地，小米更是创下12天“闪电”上会记录。同年6月7日，小米向中国证监会申请发行CDR（存托凭证）上市，同天被受理。14日，小米更新招股说明书，当晚收到证监会下发的反馈意见，定于19日上会审核。\n彼时，中国证监会和港交所正在争相推进新经济上市改革。\n2017年12月，港交所发布《有关建议设立创新板的框架咨询文件》的市场《咨询总结》，宣布接纳采用不同投票权架构的新经济公司赴港上市。\n3个月后，国务院办公厅转发证监会《关于开展创新企业境内发行股票或存托凭证试点的若干意见》，允许在境外上市的新经济企业在内地A股市场发行CDR（存托凭证），推动包括互联网在内的新经济企业回归A股上市。\n然而，小米突然被叫停在内地CDR上市。2018年6月14日，证监会针对小米发出84问。五天后，小米宣布，推迟召开发审委会议审核公司的CDR发行申请。先在香港上市之后，再择机通过发行CDR的方式在境内上市。\n香港上市也一波三折。当年7月9日，小米公司在港交所完成上市。上市当天，小米股票被纳入恒指综合成分股，按照正常情况将进入港股通，允许中国内地投资者直接购买小米股票。\n不料沪深交易所在7月14日突然发出通知，以“内地投资者不熟识”为由，暂拒同股不同权公司、外国公司股票及合订证券纳入港股通范围。小米公司被拒之门外。\n两天后，港交所CEO李小加紧急从香港飞往北京，与中国证监会相关负责人碰面谈判。“一直几个星期、几个月来我们都在跟内地证监会沟通，最好这次都包进去，按正常沪港通、深港通程序往前走。但是内地交易所可能有些不同意见。”李小加说。\n这次争端，关系着中国互联网公司上市的未来走向。通往新时代的大门能否打开？\n中国互联网公司长期只有赴美上市一个选择，皆因内地A股和香港H股过去不接受同股不同权架构。即使港交所锐意改革，流动性差仍将成为互联网公司赴港上市的关键掣肘。\n只有港股通接纳新经济公司，来自中国内地的巨量资金得以南下，东方世界的大门才能真正面向互联网公司开启。\n风波是暂时的，方向是确定的。\n2018年，港交所重新摘下全球交易所IPO排行榜第一名桂冠，全年IPO募资额高达2778.5亿港元，创下2010年以来新高。\n全年共有28家新经济公司及生物科技公司赴港上市。其中小米和美团以426.1亿港元和331.4亿港元，分列香港上市募资额年度第二、第三大公司。\n2019年10月，上交所与深交所发布公告，小米和美团纳入港股通。\n乘此势头，包括阿里、网易、京东等在内的中国互联网公司纷纷从海外回归，争相赴港二次上市。到2021年，香港市场已经集齐腾讯、阿里、美团、快手、京东、小米、百度、网易八大互联网巨头。\n\n数据来源：香港交易所\n同一阶段，中国互联网公司赴美上市迎来第三次高峰。2018年和2019 年分别有38 家和32 家中国公司赴美国上市，其中大多以互联网新经济企业为主，包括爱奇艺、斗鱼、网易有道等等。\n2019年10月，中美双方就香港会计师事务所审计的、存放在中国内地的在美上市公司审计工作底稿调取事宜达成共识。中国证监会答记者问时表示，双方“保持着畅通的合作关系”。\n一切都显得欣欣向荣。\n人们没有料到，就在一年之后，新的危机如火山熔岩般，积蓄已久，喷涌而出。\n04\n新危机时代\n滴滴、字节、拼多多们的困境与未来（2020-今天）\n7月1日，建党100周年大庆。当天凌晨，滴滴赴美上市，融资44亿美元。\n这场自2014年来中国公司在美国最大的IPO，没有敲钟照片，官网没有公告，媒体少有报道，员工不发朋友圈。\n7月2号，中国网络安全审查办公室发布公告称，为防范国家数据安全风险，维护国家安全，保障公共利益，依据《国家安全法》《网络安全法》对“滴滴出行”实施网络安全审查。审查期间“滴滴出行”停止新用户注册。滴滴上市，才出现在微博热搜和媒体头条上。\n7月9日，滴滴公司旗下25款app全体下架。\n全球最大的对冲基金桥水基金创始人瑞·达利欧（Ray Dalio）曾在其领英主页上发布2万字长文《改变中的世界秩序》。他指出，衡量全球冲突的“民粹主义指数”（Populism Index）如今已经达到历史高点。\n“我们正在走向两极分化和民粹主义的深渊。”达利欧警告，今天我们面对的贫富分化、政治两极化和极端民族主义，和二战时期极为相似。\n\n▲ 贫富分化导致极端民族主义，现阶段与二战时期类似\n数据来源：桥水基金\n2021年3月25日，美国证券交易委员会（SEC）发布公告，通过《外国公司问责法案》（HFCAA）最终修正案。法案规定，外国发行人连续三年不能满足美国公众公司会计监督委员会（PCAOB）对会计师事务所检查要求的，将被摘牌退市。\n中国外交部发言人华春莹在记者会上回应称：“HFCAA完全是对中国在美上市企业的无理政治打压，严重扭曲美国自己一向标榜的市场经济基本准则，也剥夺了美国投资者和美国公众分享中国企业发展红利的机会。”\n美国PCAOB官方数据显示，截止到2020年4月，不接受PCAOB检查审计底稿的外国上市企业中，中国内地和香港的企业占近90%。\n滴滴用静默上市，成功把自己扔进了中美股市博弈风暴中的台风眼。\n7月7日，人民日报旗下“踏浪青年”公众号，连发两篇报道评论滴滴事件：“滴滴远没有到挟就业以令政府的程度。如果之后滴滴死了，司机换一个平台接单，我们换一个平台打车，生活不会受到任何影响。”\n7月8日，美国民主党参议员Chris Van Hollen呼吁美国证交会彻底调查滴滴上市事件。\n互联网正值多事之秋。一些事情连起来看，变得耐人寻味。\n滴滴事件之前，今年3月，黄峥卸任拼多多CEO；5月，张一鸣卸任字节跳动CEO。\n此前不少人将这看做互联网反垄断的结果。但他们忽略了一条关键线索：\n滴滴、拼多多均在美国上市。至于字节跳动，特朗普对Tiktok的禁令就已经说明了一切。\n而在香港上市的腾讯与美团，马化腾和王兴至今安坐CEO之位。\n最近所有在我们身边接连发生的互联网震动，都在向我们传递出一个信号：\n中美股市博弈中，过去美国积极进攻，中国被动防守的局面将成为历史。中国监管的决心和行动，已经初露端倪。\n有的互联网公司，还停留在前20年的惯性思维里；有的互联网公司已经驶向新港口。\n他们注定迎来截然不同的命运。","news_type":1,"symbols_score_info":{"160636":0.9,"161025":0.9}},"isVote":1,"tweetType":1,"viewCount":943,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9937987684,"gmtCreate":1663342236248,"gmtModify":1676537256231,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9937987684","repostId":"2267690068","repostType":4,"repost":{"id":"2267690068","kind":"highlight","pubTimestamp":1663336320,"share":"https://ttm.financial/m/news/2267690068?lang=en_US&edition=fundamental","pubTime":"2022-09-16 21:52","market":"us","language":"zh","title":"Fed Interest Rate Decision Hits! rate hike 75 or 100 basis points? The dot plot is the focus","url":"https://stock-news.laohu8.com/highlight/detail?id=2267690068","media":"智通财经网","summary":"美联储将于北京时间9月22日凌晨公布利率决议，华尔街目前预计美联储加息100个基点的几率为20%，而宣布加息75个基点的几率为80%。除此之外，彭博社调查的经济学家称，美联储官员将在下周发出更加强硬的","content":"<p><html><head></head><body>The Federal Reserve will announce its interest rate decision in the early morning of September 22nd, Beijing time. Wall Street currently expects the probability of the Fed's rate hike of 100 basis points to be 20%, and the probability of announcing the rate hike of 75 basis points to be 80%. On top of that, economists surveyed by Bloomberg said Fed officials will signal a tougher stance next week, with rates hitting 4% by December and staying at that high level until 2023.</p><p><b>The terminal rate will reach 4.25%?</b></p><p>The survey shows that the Federal Reserve is expected to post a third straight 75 basis point rate hike next Thursday. This will raise the policy rate benchmark target range to 3%-3.25%. The Fed's forecast, released at this meeting, is expected to show that the upper end of the interest rate range is 4% before the end of the year, will continue to rise slightly next year, and rates will fall back to 3.6% after cuts begin in 2024.</p><p>The forecast is a big cut above the Fed's June forecast, reflecting a tougher Fed hit on inflation after CPI grew faster than expected in August.</p><p><img src=\"https://static.tigerbbs.com/cc4a6eebeb77fa6f4b9112a03992a976\" tg-width=\"947\" tg-height=\"470\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Federal Reserve Chairman Powell has said that the Fed is firmly committed to bringing inflation back to its 2% target and will not stop its efforts prematurely in the face of weaker economic data. The case for more aggressive action was reinforced by the U.S. August CPI data released Tuesday that exceeded expectations.</p><p>Robert Dent, senior US economist at Nomura Securities International, said: \"We expect the Federal Reserve to continue its rate hike until the achieved inflation rate drops. The CPI data in August adds a lot of urgency to the Fed's task. The longer the inflation rate remains high, the more people are worried that wages and prices will spiral and/or inflation expectations cannot be anchored and risen.\"</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>The Federal Reserve is expected to rate hike 75 basis points next week, as the CPI data in August exceeded expectations to overshadow the falling PPI data. \"We now expect the Fed to rate hike 75 and 50 basis points in September and November respectively, followed by 25 basis points each in December and February next year, with a final interest rate of 4.00-4.25%,\" Bank of America said in an investor note.</p><p>Bank of America added: \"We believe that the Fed will signal early next year to raise the terminal funds rate to 4.0-4.25%, 37.5 basis points higher than in June. We expect the statement from the Federal Open Market Committee (FOMC) to indicate that monetary policy will enter a restrictive zone, which the committee expects to remain in for 'some time', similar to the tone of Chairman Powell's speech at Jackson Hole.\"</p><p>Anna Wong, chief economist of Bloomberg USA, said, \"The 'dot plot' will show that the terminal interest rate will be higher in 2023. We think the terminal interest rate will rise to around 4.2%, compared with 3.8% in September and June. In addition, the decline in interest rates in 2024 will not be as violent as expected in September and June. Interest rates may fall to around 3.8%-4% in 2024, compared with 3.4% expected in September and June.\"</p><p><b>The dot plot will be the focus</b></p><p>Powell has been vague about how high rates could rise and said in July that the Fed would set policy \"meeting by meeting.\" That puts the dot plot forecast of the target rate at next week's meeting as a major focus for investors.</p><p>Economists expect the interest rate path laid out by the FOMC next week to be less aggressive than the market expects. Investors are fully pricing the Fed to rate hike 75 basis points next Wednesday and expect rates to rise a further percentage point to around 4.23% by year-end. While economists' own forecasts are largely in line with what they drew from the Federal Reserve's Summary of Economic Forecasts that interest rates will peak at 4% in December before falling in 2024.</p><p>Powell is trying to steer the U.S. economy toward a \"soft landing,\" in which economic growth slows, the labor market remains strong and inflation weakens. The survey shows that this will be reflected in the FOMC's economic growth forecasts for 2022 and 2023 — both of which are significantly downward revised from June, with the unemployment rate set to rise to 4.2% in 2024 from 3.7% reported in August.</p><p><img src=\"https://static.tigerbbs.com/b391b02bc4f1e88cf9739f29d0f395f5\" tg-width=\"939\" tg-height=\"536\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>\"Fed policy remains focused on inflation and there is little evidence that policy will react to a slowdown in economic/employment data or a decline in inflation,\" said Hugh Johnson, chairman of Hugh Johnson Economics LLC.</p><p>Inflation remains a central issue driving Fed policy. The FOMC is likely to maintain its forecast for inflationary pressures and expects inflation to be 5.2%, 2.6%, and 2.2% in 2022, 2023, and 2024, respectively. That means the Fed will not be able to meet its long-term inflation target of 2% until 2025.</p><p>Powell emphasized that the Fed will remain flexible on the rate hike plan, while the FOMC only provided appropriate easing guidance for sustained rate hike in previous statements. Three-quarters of economists expect the FOMC to reiterate that guidance, while the remaining majority believe the FOMC may say it expects the pace of interest rate hikes to slow, echoing Powell's recent public statements.</p><p>Two-thirds of economists also expect a unanimous decision this month that the FOMC will maintain a united front on Powell's action against inflation.</p><p><b>What about the shrinking balance sheet plan?</b></p><p>The Fed's plan to shrink its balance sheet is less clear-cut. This month, the amount of allowed exits from maturing securities rose to around $1.1 trillion a year. Economists expect the balance sheet to shrink to $8.4 trillion by the end of the year and to fall to $6.6 trillion by December 2024, according to the median estimate.</p><p><img src=\"https://static.tigerbbs.com/8318f98af3b11bb19d6fa3860c65ffa1\" tg-width=\"939\" tg-height=\"442\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Nearly half of respondents said Fed officials would resort to selling mortgage-backed securities outright, consistent with their propensity to hold only U.S. Treasury Bond for a long time. Among those economists anticipating a sale, views on when it will begin are widely divided, with a slight majority believing it will begin in the second quarter of 2023.</p><p><b>Can the U.S. economy make a soft landing?</b></p><p>Wall Street economists continue to raise concerns about the possibility of a U.S. recession. The Federal Reserve has tightened monetary policy amid headwinds such as rising food and energy prices caused by the Russia-Ukraine war.</p><p><img src=\"https://static.tigerbbs.com/244cc7fb519c3b9fecf311f1e2e63e1e\" tg-width=\"920\" tg-height=\"432\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Kathy Bostjancic, chief U.S. economist at Oxford Economics, said: \"We believe that longer duration, higher levels of inflation, stronger monetary policy tightening by the Federal Reserve, and negative spillovers from a weaker global economy will collectively push the U.S. economy into a mild recession in the first half of 2023.\"</p><p>Economists have mixed views on the outlook for the U.S. economy, with 49% saying a recession is likely over the next two years, 33% saying there could be zero or negative growth for some time to come, and the rest saying the Fed will deliver a soft landing for the economy with sustained growth and low inflation.</p><p></body></html></p>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Interest Rate Decision Hits! rate hike 75 or 100 basis points? The dot plot is the focus</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Interest Rate Decision Hits! rate hike 75 or 100 basis points? The dot plot is the focus\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2022-09-16 21:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The Federal Reserve will announce its interest rate decision in the early morning of September 22nd, Beijing time. Wall Street currently expects the probability of the Fed's rate hike of 100 basis points to be 20%, and the probability of announcing the rate hike of 75 basis points to be 80%. On top of that, economists surveyed by Bloomberg said Fed officials will signal a tougher stance next week, with rates hitting 4% by December and staying at that high level until 2023.</p><p><b>The terminal rate will reach 4.25%?</b></p><p>The survey shows that the Federal Reserve is expected to post a third straight 75 basis point rate hike next Thursday. This will raise the policy rate benchmark target range to 3%-3.25%. The Fed's forecast, released at this meeting, is expected to show that the upper end of the interest rate range is 4% before the end of the year, will continue to rise slightly next year, and rates will fall back to 3.6% after cuts begin in 2024.</p><p>The forecast is a big cut above the Fed's June forecast, reflecting a tougher Fed hit on inflation after CPI grew faster than expected in August.</p><p><img src=\"https://static.tigerbbs.com/cc4a6eebeb77fa6f4b9112a03992a976\" tg-width=\"947\" tg-height=\"470\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Federal Reserve Chairman Powell has said that the Fed is firmly committed to bringing inflation back to its 2% target and will not stop its efforts prematurely in the face of weaker economic data. The case for more aggressive action was reinforced by the U.S. August CPI data released Tuesday that exceeded expectations.</p><p>Robert Dent, senior US economist at Nomura Securities International, said: \"We expect the Federal Reserve to continue its rate hike until the achieved inflation rate drops. The CPI data in August adds a lot of urgency to the Fed's task. The longer the inflation rate remains high, the more people are worried that wages and prices will spiral and/or inflation expectations cannot be anchored and risen.\"</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>The Federal Reserve is expected to rate hike 75 basis points next week, as the CPI data in August exceeded expectations to overshadow the falling PPI data. \"We now expect the Fed to rate hike 75 and 50 basis points in September and November respectively, followed by 25 basis points each in December and February next year, with a final interest rate of 4.00-4.25%,\" Bank of America said in an investor note.</p><p>Bank of America added: \"We believe that the Fed will signal early next year to raise the terminal funds rate to 4.0-4.25%, 37.5 basis points higher than in June. We expect the statement from the Federal Open Market Committee (FOMC) to indicate that monetary policy will enter a restrictive zone, which the committee expects to remain in for 'some time', similar to the tone of Chairman Powell's speech at Jackson Hole.\"</p><p>Anna Wong, chief economist of Bloomberg USA, said, \"The 'dot plot' will show that the terminal interest rate will be higher in 2023. We think the terminal interest rate will rise to around 4.2%, compared with 3.8% in September and June. In addition, the decline in interest rates in 2024 will not be as violent as expected in September and June. Interest rates may fall to around 3.8%-4% in 2024, compared with 3.4% expected in September and June.\"</p><p><b>The dot plot will be the focus</b></p><p>Powell has been vague about how high rates could rise and said in July that the Fed would set policy \"meeting by meeting.\" That puts the dot plot forecast of the target rate at next week's meeting as a major focus for investors.</p><p>Economists expect the interest rate path laid out by the FOMC next week to be less aggressive than the market expects. Investors are fully pricing the Fed to rate hike 75 basis points next Wednesday and expect rates to rise a further percentage point to around 4.23% by year-end. While economists' own forecasts are largely in line with what they drew from the Federal Reserve's Summary of Economic Forecasts that interest rates will peak at 4% in December before falling in 2024.</p><p>Powell is trying to steer the U.S. economy toward a \"soft landing,\" in which economic growth slows, the labor market remains strong and inflation weakens. The survey shows that this will be reflected in the FOMC's economic growth forecasts for 2022 and 2023 — both of which are significantly downward revised from June, with the unemployment rate set to rise to 4.2% in 2024 from 3.7% reported in August.</p><p><img src=\"https://static.tigerbbs.com/b391b02bc4f1e88cf9739f29d0f395f5\" tg-width=\"939\" tg-height=\"536\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>\"Fed policy remains focused on inflation and there is little evidence that policy will react to a slowdown in economic/employment data or a decline in inflation,\" said Hugh Johnson, chairman of Hugh Johnson Economics LLC.</p><p>Inflation remains a central issue driving Fed policy. The FOMC is likely to maintain its forecast for inflationary pressures and expects inflation to be 5.2%, 2.6%, and 2.2% in 2022, 2023, and 2024, respectively. That means the Fed will not be able to meet its long-term inflation target of 2% until 2025.</p><p>Powell emphasized that the Fed will remain flexible on the rate hike plan, while the FOMC only provided appropriate easing guidance for sustained rate hike in previous statements. Three-quarters of economists expect the FOMC to reiterate that guidance, while the remaining majority believe the FOMC may say it expects the pace of interest rate hikes to slow, echoing Powell's recent public statements.</p><p>Two-thirds of economists also expect a unanimous decision this month that the FOMC will maintain a united front on Powell's action against inflation.</p><p><b>What about the shrinking balance sheet plan?</b></p><p>The Fed's plan to shrink its balance sheet is less clear-cut. This month, the amount of allowed exits from maturing securities rose to around $1.1 trillion a year. Economists expect the balance sheet to shrink to $8.4 trillion by the end of the year and to fall to $6.6 trillion by December 2024, according to the median estimate.</p><p><img src=\"https://static.tigerbbs.com/8318f98af3b11bb19d6fa3860c65ffa1\" tg-width=\"939\" tg-height=\"442\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Nearly half of respondents said Fed officials would resort to selling mortgage-backed securities outright, consistent with their propensity to hold only U.S. Treasury Bond for a long time. Among those economists anticipating a sale, views on when it will begin are widely divided, with a slight majority believing it will begin in the second quarter of 2023.</p><p><b>Can the U.S. economy make a soft landing?</b></p><p>Wall Street economists continue to raise concerns about the possibility of a U.S. recession. The Federal Reserve has tightened monetary policy amid headwinds such as rising food and energy prices caused by the Russia-Ukraine war.</p><p><img src=\"https://static.tigerbbs.com/244cc7fb519c3b9fecf311f1e2e63e1e\" tg-width=\"920\" tg-height=\"432\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Kathy Bostjancic, chief U.S. economist at Oxford Economics, said: \"We believe that longer duration, higher levels of inflation, stronger monetary policy tightening by the Federal Reserve, and negative spillovers from a weaker global economy will collectively push the U.S. economy into a mild recession in the first half of 2023.\"</p><p>Economists have mixed views on the outlook for the U.S. economy, with 49% saying a recession is likely over the next two years, 33% saying there could be zero or negative growth for some time to come, and the rest saying the Fed will deliver a soft landing for the economy with sustained growth and low inflation.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/793484.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/627bc890436e46f74a0fe8143398a725","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","BK4581":"高盛持仓","UPRO":"三倍做多标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","TQQQ":"纳指三倍做多ETF",".IXIC":"NASDAQ Composite","QID":"两倍做空纳斯达克指数ETF-ProShares","SPY":"标普500ETF","BK4534":"瑞士信贷持仓","PSQ":"做空纳斯达克100指数ETF-ProShares","DOG":"道指ETF-ProShares做空","SH":"做空标普500-Proshares","IVV":"标普500ETF-iShares","DJX":"1/100道琼斯","SDOW":"三倍做空道指30ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares",".SPX":"S&P 500 Index","QQQ":"纳指100ETF","BK4504":"桥水持仓","BK4559":"巴菲特持仓","SDS":"两倍做空标普500 ETF-ProShares",".DJI":"道琼斯","SQQQ":"纳指三倍做空ETF","BK4550":"红杉资本持仓","OEF":"标普100指数ETF-iShares","UDOW":"三倍做多道指30ETF-ProShares","OEX":"标普100","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares"},"source_url":"http://www.zhitongcaijing.com/content/detail/793484.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2267690068","content_text":"美联储将于北京时间9月22日凌晨公布利率决议，华尔街目前预计美联储加息100个基点的几率为20%，而宣布加息75个基点的几率为80%。除此之外，彭博社调查的经济学家称，美联储官员将在下周发出更加强硬的立场信号，到12月利率将达到4%，并在2023年之前保持在这一高位水平。终端利率将达4.25%？调查显示，美联储预计将于下周四连续第三次加息75个基点。这将把政策利率基准目标区间提高到3% - 3.25%。美联储在这次会议上发布的预测预计将显示，年底前利率区间的上限为4%，明年将继续小幅上升，2024年开始降息后利率将回落至3.6%。该预测比美联储6月份的预测高出一大截，反映出在8月份CPI增速高于预期后，美联储对通胀的打击更加强硬。美联储主席鲍威尔曾表示，美联储坚定致力于让通胀率回到2%的目标，不会在经济数据走弱的情况下过早停止努力。周二公布的美国8月份CPI数据超预期，强化了采取更积极行动的理由。野村证券国际公司高级美国经济学家Robert Dent称:“我们预计美联储将继续加息，直到实现的通货膨胀率下降，8月的CPI数据为美联储的任务增加了很大的紧迫性。通货膨胀率保持在高位的时间越长，人们就越担心工资价格螺旋上升和/或通货膨胀预期无法锚定而上升。”美国银行预计美联储下周将加息75个基点，因8月CPI数据超预期盖过了PPI数据回落的因素。美国银行在一份投资者报告中表示:“我们现在预计美联储在9月和11月将分别加息75和50个基点，随后在12月和明年2月各加息25个基点，最终利率将达到4.00-4.25%。”美国银行补充称:“我们认为，美联储将在明年初发出信号，将终端基金利率上调至4.0-4.25%，比6月份高出37.5个基点。我们预计联邦公开市场委员会(FOMC)的声明将表示，货币政策将进入限制性区域，委员会预计将在‘一段时间内’保持这种状态，这与鲍威尔主席在杰克逊霍尔讲话的基调类似。”彭博美国首席经济学家Anna Wong称“‘点阵图’将显示，2023年的终端利率将更高。我们认为终端利率将上升到4.2%左右，而9月6月时为3.8%。此外，2024年利率的下降不会像9月6月预期的那么猛烈。2024年利率可能会下降到3.8% -4%左右，而9月6月时的预期为3.4%。”点阵图将是焦点鲍威尔对利率可能上升到多高一直含糊其词，并在7月份表示，美联储将“逐次会议”制定政策。这使得在下周的会议上，对目标利率的点阵图预测将成为投资者关注的主要焦点。经济学家预计，FOMC在下周制定的利率路径将没有市场预期的那么激进。投资者完全定价美联储下周三将加息75个基点，并预计年底前利率将进一步上升一个百分点，至4.23%左右。而经济学家自己的预测与他们从美联储的《经济预测摘要》中得出的预测基本一致，即利率将在12月达到4%的峰值，然后在2024年下降。鲍威尔正试图引导美国经济走向“软着陆”，即经济增长放缓，劳动力市场依然强劲，通货膨胀减弱。调查显示，这将反映在FOMC对2022年和2023年的经济增长预测中——这两项预测均较6月份大幅下调，失业率将从8月份报告的3.7%升至2024年的4.2%。Hugh Johnson Economics LLC董事长Hugh Johnson表示：\"美联储政策仍专注于通胀，几乎没有证据表明政策会对经济/就业数据放缓或通胀率下降作出反应。\"通货膨胀仍然是推动美联储政策的核心问题。FOMC很可能维持其对通胀压力的预测，并预计2022年、2023年和2024年的通胀率分别为5.2%、2.6%和2.2%。这意味着美联储在2025年之前都无法实现2%的长期通胀目标。鲍威尔强调，美联储将在加息计划上保持灵活，而FOMC在此前的声明中只提供了适当的持续加息的宽松指导。四分之三的经济学家预计FOMC将重申这一指导方针，而其余多数经济学家则认为FOMC可能会表示，预期升息步伐将放缓，呼应鲍威尔最近的公开声明。三分之二的经济学家也预计本月会有一致决定，FOMC将在鲍威尔对抗通胀的行动上保持统一战线。缩表计划如何？美联储缩减资产负债表的计划就没有那么明确。本月，到期证券的允许退出金额上升至每年1.1万亿美元左右。经济学家预计，到今年年底，资产负债表将缩减至8.4万亿美元，根据预估中值，到2024年12月将降至6.6万亿美元。近一半的受访者表示，美联储官员们将诉诸于直接出售抵押贷款支持证券，这与他们表示的长期只持有美国国债的倾向一致。在那些预期出售的经济学家当中，关于何时开始出售的观点存在很大分歧，略占多数的人认为将在2023年第二季度开始出售。美国经济能否软着陆？华尔街经济学家继续对美国经济衰退的可能性表示担忧。在俄乌战争导致食品和能源价格上涨等不利因素的影响下，美联储收紧了货币政策。牛津经济研究院首席美国经济学家Kathy Bostjancic表示:“我们认为，持续时间更长、通胀水平更高、美联储货币政策收紧力度更大，以及全球经济疲软带来的负面溢出效应，这些因素将共同推动美国经济在2023年上半年陷入温和衰退。”经济学家对美国经济前景的看法不一，49%的人认为未来两年可能出现衰退，33%的人认为未来一段时间可能出现零增长或负增长，其余的人则认为美联储将实现持续增长和低通胀的经济软着陆。","news_type":1,"symbols_score_info":{"161125":0.6,"513500":0.6,"QID":0.6,"QQQ":0.6,"SDS":0.6,"UDOW":0.6,"OEF":0.6,"NQmain":0.6,"IVV":0.6,"DOG":0.6,".SPX":0.6,"ESmain":0.6,"DJX":0.6,"DDM":0.6,"SSO":0.6,".DJI":1,"MNQmain":0.6,"SPXU":0.6,"TQQQ":0.6,".IXIC":1,"OEX":0.6,"SQQQ":0.6,"SDOW":0.6,"QLD":0.6,"UPRO":0.6,"SPY":1,"SH":0.6,"PSQ":0.6,"DXD":0.6}},"isVote":1,"tweetType":1,"viewCount":2556,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9913661031,"gmtCreate":1663981695823,"gmtModify":1676537373957,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9913661031","repostId":"1101872550","repostType":4,"repost":{"id":"1101872550","kind":"news","weMediaInfo":{"introduction":"经济观察报官方账号","home_visible":1,"media_name":"经济观察报","id":"1014835943","head_image":"https://static.tigerbbs.com/53947f6c3e232c366cc0bd0fd311397d"},"pubTimestamp":1663943805,"share":"https://ttm.financial/m/news/1101872550?lang=en_US&edition=fundamental","pubTime":"2022-09-23 22:36","market":"sh","language":"zh","title":"\"White Horse Stocks\" Encounter \"Fixed-point Blasting\", Institutional Disputes Market Outlook Trend","url":"https://stock-news.laohu8.com/highlight/detail?id=1101872550","media":"经济观察报","summary":"“一天‘杀’一只白马，A股总能在意想不到的地方找到下跌空间。”9月22日收盘后，在一个股票投资者的交流群中，有投资者这样评论当日行情。而在当日，引发投资者无奈调侃的那只白马，是素有“中药茅”之称的片仔","content":"<p><div>\"Killing a white horse a day, A shares can always find room to fall in unexpected places.\" After the market closed on September 22nd, in an exchange group of stock investors, some investors commented on the day's market. On the same day, the white horse that triggered investors' helpless ridicule was Pien Tze Huang (600436.SH), known as \"Chinese medicine Mao\". On September 22nd, in the absence of obvious bad news, Pien Tze Huang's share price suddenly plummeted in volume. On that day, it approached the limit, setting a new low of 259.69 yuan/share for the year, and then rebounded. The share price finally closed at 260.85 yuan, with a turnover of...</p><p><a href=\"\">Web link</a></div></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"White Horse Stocks\" Encounter \"Fixed-point Blasting\", Institutional Disputes Market Outlook Trend</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"White Horse Stocks\" Encounter \"Fixed-point Blasting\", Institutional Disputes Market Outlook Trend\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1014835943\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/53947f6c3e232c366cc0bd0fd311397d);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">经济观察报 </p>\n<p class=\"h-time smaller\">2022-09-23 22:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><div>\"Killing a white horse a day, A shares can always find room to fall in unexpected places.\" After the market closed on September 22nd, in an exchange group of stock investors, some investors commented on the day's market. On the same day, the white horse that triggered investors' helpless ridicule was Pien Tze Huang (600436.SH), known as \"Chinese medicine Mao\". On September 22nd, in the absence of obvious bad news, Pien Tze Huang's share price suddenly plummeted in volume. On that day, it approached the limit, setting a new low of 259.69 yuan/share for the year, and then rebounded. The share price finally closed at 260.85 yuan, with a turnover of...</p><p><a href=\"\">Web link</a></div></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e68f18a297e419bae3cc0320b6d8ff4e","relate_stocks":{"000001.SH":"上证指数"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101872550","content_text":"“一天‘杀’一只白马，A股总能在意想不到的地方找到下跌空间。”9月22日收盘后，在一个股票投资者的交流群中，有投资者这样评论当日行情。而在当日，引发投资者无奈调侃的那只白马，是素有“中药茅”之称的片仔癀（600436.SH）。9月22日，在没有明显利空消息的情况下，片仔癀股价突然放量暴跌，当日盘中一度逼近跌停，创下了259.69元/股的年内新低，随后又有所回升，股价最终收报260.85元，成交额达15.85亿元，收盘跌幅高达7.2%。经济观察网记者注意到，这是中秋假期以来，继药明康德（603259.SH）、阳光电源（300274.SZ）、东方财富（300059.SZ）等千亿老牌白马股之后，第10只发生放量闪崩的权重股。在和多位股票投资者沟通的过程中，记者发现，相比起近期市场整体的持续调整，如同“开盲盒”一般不停闪崩的白马股，是当前最令股民迷惑的市场现象。“已经跌了小一年了，（片仔癀）按理说应该已经跌到底了，为什么还能闪崩？”有股民发出如此疑问。“白马诅咒”在股票市场中，白马股不停闪崩的现象被称之为“白马诅咒”，往往成为市场情绪极度低迷的真实写照。据经济观察网记者统计，自9月中秋假期过后，市场先后有10只大市值权重股出现了破位暴跌的走势，而在其中，医药板块成了此轮杀跌的“重灾区”。9月13日，中秋假期过后的第一个交易日，CXO板块龙头药明康德盘中跌停，当日收报76.35元/股（本文股价均以前复权价格计算），成交额达57.8亿元，公司市值蒸发逾250亿元。随后，在9月14日至9月22日的7个交易日中，药明康德又有5天股价收阴，失守70元整数关口，如今仍围绕68元左右横盘震荡，而这一价格相较于去年7月16日该公司所触及的171.97元/股的盘中高点，已然“腰斩”。短短三个交易日之后，9月19日本周一，“医美双龙”爱美客（300896.SZ）、华熙生物（699363.SH）也均出现放量暴跌，其中华熙生物当日跌幅达13.68%，股价收报121.05元/股，直接击穿120日均线；爱美客则收跌11.6%，成交额达18.58亿元，当日市值蒸发约136亿元。9月21日周二，深受机构喜爱的“医械茅”迈瑞医疗（300760.SZ）也出现股价跳水，截至当日收盘下跌7.21%，股价收报264元/股，成交额达27.12亿元，这一价格相较于去年7月1日490.24元的高点已跌去44.36%，总市值缩水近2700亿元。9月22日，市场的“盲盒”开到了“中药茅”片仔癀的身上，该公司当日股价收跌7.2%，报260.85元/股，当日市场骤减122.05亿元，股价创下自2021年12月14日以来的新低。除此以外，诸如东方财富、三安光电（600703.SH）、阳光电源（300274.SZ）等千亿大白马也均在过去的7个交易日中，出现了破位暴跌的走势。其中，9月15日，阳光电源股价下挫8.49%，当日总市值蒸发近150亿元，东方财富在9月16日大跌10.78%，单日市值缩水328亿元，三安光电则于9月20日大跌7.05%，击穿四条短期均线，若以9月15日23.98元/股的开盘价计算，三安光电总市值在6个交易日内已经蒸发266.88亿元。记者注意到，从消息面上看，除片仔癀外，上述出现放量大跌情形的白马股近期在市场上均有相关利空消息出现。例如，美国总统拜登于美东时间9月12日签署行政令，鼓励美国本土生物技术、生物制造和相关研发，此举被市场普遍认为是针对我国CXO、CRO领域的新举措，首先影响的便是板块龙头药明康德。而9月16日东方财富股价发生闪崩的背景，则是国务院办公厅于9月15日发布的《关于进一步优化营商环境降低市场主体制度性交易成本的意见》，其中明确，将着力规范金融服务收费，鼓励证券、基金、担保等机构进一步降低服务收费，推动金融基础设施合理降低交易、托管、登记、清算等费用。此外，在9月19日，还出现了诸如三安光电相关高管被带走调查，相关部门将对医美机构展开财务核查等市场传闻。此外，经济观察网记者亦注意到，自9月13日以来，接连出现闪崩情形的白马股也多为机构的长期重仓股。例如，根据上述各家公司的中报披露数据，最早开启此轮闪崩浪潮的药明康德，就有128家基金公司旗下管理的1603只产品扎堆持有6.71亿股，占流通股之比高达26.31%；“券茅”东方财富的基金持股数则达到了25.51亿股，占流通股之比达23%，参与持股的基金产品数超过1700只；在22日闪崩的片仔癀，则是中欧明星基金经理葛兰的心头好，其位列葛兰代表产品中欧医疗健康的第七大重仓股，持仓数量高达821.51万股。接连闪崩的白马股，也让本就不理想的公募业绩雪上加霜。Wind统计数据显示，截至9月23日，全市场835只普通股票型基金，近一月平均业绩回报为-17.1%，部分基金的动态回撤甚至超过了40%。“外围压力”催动“资金踩踏”？在针对“白马诅咒”的情况走访投资机构的过程中，记者发现，受访机构普遍认为，近期市场调整主要压力主要在于外部因素，同各类市场传闻的关联则有限。华夏基金方面就告诉记者，虽然近期A股市场负面情绪扰动较多，但调整压力主要来自外部风险。在美联储货币政策加速收紧背景下，美元加息超预期，全球流动性总量收缩，导致风险资产剧烈波动，人民币汇率贬值压力加大；此外，加之部分传闻引发市场担忧，在内部经济复苏尚不稳固的情况下，投资者信心不足，导致股指出现惯性大跌。星石投资首席权益投资官郭希淳向记者表示，近期美联储紧缩和美国经济的走势将是未来对资产价格持续影响的重要因素。他指出，对于国内市场而言，国内经济基本面及经济预期是核心因素，但也需要关注海外市场波动带来的情绪传导。“目前国内股市维持缩量特征，市场情绪偏弱但并未出现进一步下行，美联储加息落地后对国内股市的实际影响将低于海外市场。今年以来，中美货币政策持续背离，我们认为近期人民币贬值也并不会影响国内流动性维持宽松的情况，叠加目前A股整体估值并不算高，A股受到的估值端压力明显小于美股。”郭希淳说。广州一家私募的投资经理刘禾则向记者指出，眼下市场存在的一些解读，将出现闪崩情形的白马股归结于对应的市场传闻所引发，但在他看来，这样的解读无异于“拿着答案找问题”。“传闻本来就是市场的过度解读，比如9月12日引发CXO动荡的那则‘美国禁令’，主要内容以鼓励医药制品的境内生产为主，但是并没有明确细针对国内的CXO产业的细则，结果传闻最后发酵成了CXO禁令。”刘禾说。在刘禾看来，上述传闻实际上不足以引发市场的大幅动荡。“发生闪崩的白马股都具有明显放量的特征，应当是机构资金出逃所致。”他指出。记者查阅市场数据发现，9月13日，即药明康德大跌当日，其龙虎榜数据显示，在卖出药明康德金额最大的前五名中，就有2家机构专用席位，各自卖出1.39亿元及2.45亿元。9月20日，三安光电龙虎榜中，卖方中有4家机构席位，合计卖出近7亿元。对于为何会出现机构齐齐抛售的情形，刘禾认为是估值回归的体现。“公司还是哪些公司，现在市场情绪导致估值有所不同，加之近来市场资金略有收紧，美联储激进升息，外资连续流出，自然要从暂无炒作热点的老白马中撤出资金。”刘禾表示。沪上一家公募的基金经理也告诉记者，此次闪崩的一系列白马股，自4月以来并未经历反弹行情，且部分公司的业绩增速放缓，出现了成长性与估值错配的情形。“就是因为这些白马一直在回调，回调太多了，到了某一个点位突然引发市场情绪的崩塌，资金开始踩踏出逃，而对于4月后，出现反弹的热门股，如今就算面临回调也仍有获利在手，当基金经理面临赎回压力时，便会考虑弃车保帅。”上述人士进一步补充。金信基金的基金经理黄飙也认为，近来市场行情变化，主要受外围市场风险传导影响，进而加剧了市场担忧。黄飙告诉记者，此次市场调整是经济底部阶段的一次风险集中释放，属于短期调整范畴，不必过于恐慌，新兴成长产业的景气度以及整体经济的中长期内生增长动力依然稳固，泛科技相关赛道细分龙头公司具有显著的壁垒和长期抗风险能力，技术创新和业绩增长将会是穿越周期的最持久的推动力。“科技创新与能源转型相关成长赛道景气依然较高，龙头公司的业绩增长确定性强，尽管估值溢价受到国内及外围宏观风险会有所波动，但这些赛道依然是市场主流资金的中长期投资方向，坚实的业绩将推动整体股价波动上行；此外，从经济前景看，目前国内经济增速在U型底部徘徊，通胀压力缓和，货币流动性非常充裕，利率处于低位，有利于市场估值维持在中性以上水平。”黄飙进一步补充称。展望后市，长城基金方面则直言，预计十一国庆长假前，行情将维持“鸡肋”状态，长假过后，随着“二十大”的召开，对于各项工作做出指导，市场交投情绪将有望逐渐回暖。“当前阶段比较复杂频繁的环境变化，对于市场来说挑战和机遇并存，逆全球化、内循环以及各类安全主题有可能会成为具有中期持续性的题材；就国内环境而言，经济的复苏仍然是大方向，十月中旬后稳增长和疫后复苏题材可能会呈现比较好的弹性。”长城基金如是称。","news_type":1,"symbols_score_info":{"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":2932,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9910446394,"gmtCreate":1663674060618,"gmtModify":1676537312997,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9910446394","repostId":"1108312879","repostType":4,"isVote":1,"tweetType":1,"viewCount":2611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938707895,"gmtCreate":1662674323717,"g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10:27","market":"sh","language":"zh","title":"ETF Tracking | Strong US dollar becomes a fatal nightmare for shareholders! This ETF can save lives","url":"https://stock-news.laohu8.com/highlight/detail?id=1198267340","media":"ETF小帮手","summary":"主要观点：美元指数创新高的直接原因是美联储开启激进加息周期来遏制高通胀。此外，美国经济复苏情况更优、市场避险情绪加大以及非美货币疲软也是美元创新高的推动因素。美元指数是衡量美元兑其他世界储备货币的汇率","content":"<p><html><head></head><body>Key takeaways: The direct reason for the record high in the US Dollar Index is that the Federal Reserve starts an aggressive rate hike cycle to curb high inflation. In addition, the better economic recovery in the United States, the increased risk aversion in the market and the weakness of non-US currencies are also the driving factors for the record high of the US dollar. The the US Dollar Index is a measure of the exchange rate of the U.S. dollar against other world reserve currencies. While the index includes the euro, sterling, Japanese yen, Canadian dollar, Swedish krona and Swiss franc, the movement of the euro against the dollar dominates the index. The the US Dollar Index euro has a 57.6% currency weighting against the US dollar.<img src=\"https://static.tigerbbs.com/83d4bcccde50851b02545042d6130d0f\" tg-width=\"779\" tg-height=\"318\" referrerpolicy=\"no-referrer\"/>The current bullish trend in the US Dollar Index began in early 2021 when the index bottomed at 89.165. Since then, the index has reached record highs, reaching near 110 on September 1, 2022. Currency trends tend to last for many years, and the bullish trend of the US dollar or continue to break new highs.</p><p>The Invesco DB Dollar Call Fund (NYSEARCA: UUP) has risen and fallen with the index, while the UDN product has the opposite.</p><p><b>the US Dollar Index hits two-decade high</b></p><p>The the US Dollar Index futures contract fell to a low of 89.165 in early January 2021. Since then, the index has continued to hit higher lows and higher highs, breaking through key technical resistance levels in May 2022.<img src=\"https://static.tigerbbs.com/3f8564ecc097378d7f7d24f71543b09c\" tg-width=\"640\" tg-height=\"441\" referrerpolicy=\"no-referrer\"/>ICE the US Dollar Index Futures Contract (Bar Chart)</p><p>The chart shows the US Dollar Index reaching a technical breakout at a high of 110.260 on September 1. The last time the index surpassed 110 was in 2002. It closed at 109.510 on Friday, September 2, and hit a new high on Monday, September.</p><p><b>Fed remains committed to fighting inflation</b></p><p>U.S. monetary policy is one of the factors that ignited the bullish fuse for the dollar over the past few months and pushed it to its best level in two decades. At their recent annual conference in Jackson Hole, Wyoming, Fed Chair Jerome Powell and other Fed economists reiterated their hawkish commitment to fighting inflation by raising interest rates. Markets are predicting that the Fed will raise its Federal Funds rate by 50 or even 75 basis points at the upcoming September FOMC meeting.</p><p><b>The bearish trend for the euro</b></p><p>Meanwhile, the war in Europe has created an almost perfect fundamental bullish case for the dollar, which has put a lot of pressure on the euro. It has been 20 years since the euro traded at parity against the dollar. The euro fell below parity on Sept. 5 against the dollar after a steady decline since the start of 2021.<img src=\"https://static.tigerbbs.com/da34b9fe36b19265f0fca0b6031cb214\" tg-width=\"640\" tg-height=\"445\" referrerpolicy=\"no-referrer\"/>EURUSD Currency Pair (Bar Chart)</p><p>The chart shows the path of minimal resistance for EURUSD since it fell to $1.2349 in early January 2021 and hit a recent low of $0.98785 on September 5.</p><p><b>UUP Is a Bullish the US Dollar Index ETF Product</b></p><p>The most direct path to risky positions in the the US Dollar Index is through futures contracts on the Intercontinental Exchange (ICE). For those who do not wish to participate in the rise of the US dollar without getting involved in the futures market or the global OTC forex market, the Invesco DB the US Dollar Index Bullish Fund follows the rise of the index. UUP's bearish rival, the UDN product, is the opposite.</p><p>At the Sept. 2 level of $29.38 per share, UUP has $2.051 billion in assets under management. On average, the fund trades more than 3.9 million shares per day and charges a management fee of 0.78%. The $17.52 bearish UDN product has $71.884 million in assets under management. On average, UDN trades 141,895 shares per day with an expense ratio of 0.77%.</p><p>the US Dollar Index rose 23.3% from 89.165 at the beginning of 2021 to 109.980 on September 1, 2022.<img src=\"https://static.tigerbbs.com/03929f887ee6835c06e2c93d7243814c\" tg-width=\"640\" tg-height=\"464\" referrerpolicy=\"no-referrer\"/>UUP Bull the US Dollar Index ETF Product Chart (Bar Chart)</p><p>Over the same period, UUP rose 22.3% to $29.47 from $24.09 per share.</p><p>The bearish UDN product fell 20.2% to $17.49 per share from $21.91 in the same period. The UUP and UDN products do well in tracking the ups and downs of the the US Dollar Index. UUP and UDN only trade during U.S. stock market operations, so they may miss highs or lows outside of U.S. stock market trading hours. the US Dollar Index hit a 20-year high during the U.S. Labor Day holiday on Monday, Sept. 5, when UUP and UDN were untradable.</p><p>the US Dollar Index is still moving higher as of early September 2022. While bullish trends rarely move in a straight line, and the likelihood of occasional corrections increases with increasing levels, the dollar remains the strongest fiat reserve currency in the world, with rising U.S. interest rates and geopolitical turmoil in Europe supporting the dollar's upward trend. If the Fed continues to violently rate hike to curb inflation, and your portfolio contains a large number of stocks and commodity bonds, consider UUP to hedge investment risks.</p><p>Potential obstacles to higher the US Dollar Index are the end of hostilities in Europe and the Federal Reserve's shift in monetary policy in response to mounting recession pressures.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ETF Tracking | Strong US dollar becomes a fatal nightmare for shareholders! This ETF can save lives</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nETF Tracking | Strong US dollar becomes a fatal nightmare for shareholders! This ETF can save lives\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1030108964\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/53452c6d05728a1369e33ffed184d759);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">ETF小帮手 </p>\n<p class=\"h-time smaller\">2022-09-08 10:27</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Key takeaways: The direct reason for the record high in the US Dollar Index is that the Federal Reserve starts an aggressive rate hike cycle to curb high inflation. In addition, the better economic recovery in the United States, the increased risk aversion in the market and the weakness of non-US currencies are also the driving factors for the record high of the US dollar. The the US Dollar Index is a measure of the exchange rate of the U.S. dollar against other world reserve currencies. While the index includes the euro, sterling, Japanese yen, Canadian dollar, Swedish krona and Swiss franc, the movement of the euro against the dollar dominates the index. The the US Dollar Index euro has a 57.6% currency weighting against the US dollar.<img src=\"https://static.tigerbbs.com/83d4bcccde50851b02545042d6130d0f\" tg-width=\"779\" tg-height=\"318\" referrerpolicy=\"no-referrer\"/>The current bullish trend in the US Dollar Index began in early 2021 when the index bottomed at 89.165. Since then, the index has reached record highs, reaching near 110 on September 1, 2022. Currency trends tend to last for many years, and the bullish trend of the US dollar or continue to break new highs.</p><p>The Invesco DB Dollar Call Fund (NYSEARCA: UUP) has risen and fallen with the index, while the UDN product has the opposite.</p><p><b>the US Dollar Index hits two-decade high</b></p><p>The the US Dollar Index futures contract fell to a low of 89.165 in early January 2021. Since then, the index has continued to hit higher lows and higher highs, breaking through key technical resistance levels in May 2022.<img src=\"https://static.tigerbbs.com/3f8564ecc097378d7f7d24f71543b09c\" tg-width=\"640\" tg-height=\"441\" referrerpolicy=\"no-referrer\"/>ICE the US Dollar Index Futures Contract (Bar Chart)</p><p>The chart shows the US Dollar Index reaching a technical breakout at a high of 110.260 on September 1. The last time the index surpassed 110 was in 2002. It closed at 109.510 on Friday, September 2, and hit a new high on Monday, September.</p><p><b>Fed remains committed to fighting inflation</b></p><p>U.S. monetary policy is one of the factors that ignited the bullish fuse for the dollar over the past few months and pushed it to its best level in two decades. At their recent annual conference in Jackson Hole, Wyoming, Fed Chair Jerome Powell and other Fed economists reiterated their hawkish commitment to fighting inflation by raising interest rates. Markets are predicting that the Fed will raise its Federal Funds rate by 50 or even 75 basis points at the upcoming September FOMC meeting.</p><p><b>The bearish trend for the euro</b></p><p>Meanwhile, the war in Europe has created an almost perfect fundamental bullish case for the dollar, which has put a lot of pressure on the euro. It has been 20 years since the euro traded at parity against the dollar. The euro fell below parity on Sept. 5 against the dollar after a steady decline since the start of 2021.<img src=\"https://static.tigerbbs.com/da34b9fe36b19265f0fca0b6031cb214\" tg-width=\"640\" tg-height=\"445\" referrerpolicy=\"no-referrer\"/>EURUSD Currency Pair (Bar Chart)</p><p>The chart shows the path of minimal resistance for EURUSD since it fell to $1.2349 in early January 2021 and hit a recent low of $0.98785 on September 5.</p><p><b>UUP Is a Bullish the US Dollar Index ETF Product</b></p><p>The most direct path to risky positions in the the US Dollar Index is through futures contracts on the Intercontinental Exchange (ICE). For those who do not wish to participate in the rise of the US dollar without getting involved in the futures market or the global OTC forex market, the Invesco DB the US Dollar Index Bullish Fund follows the rise of the index. UUP's bearish rival, the UDN product, is the opposite.</p><p>At the Sept. 2 level of $29.38 per share, UUP has $2.051 billion in assets under management. On average, the fund trades more than 3.9 million shares per day and charges a management fee of 0.78%. The $17.52 bearish UDN product has $71.884 million in assets under management. On average, UDN trades 141,895 shares per day with an expense ratio of 0.77%.</p><p>the US Dollar Index rose 23.3% from 89.165 at the beginning of 2021 to 109.980 on September 1, 2022.<img src=\"https://static.tigerbbs.com/03929f887ee6835c06e2c93d7243814c\" tg-width=\"640\" tg-height=\"464\" referrerpolicy=\"no-referrer\"/>UUP Bull the US Dollar Index ETF Product Chart (Bar Chart)</p><p>Over the same period, UUP rose 22.3% to $29.47 from $24.09 per share.</p><p>The bearish UDN product fell 20.2% to $17.49 per share from $21.91 in the same period. The UUP and UDN products do well in tracking the ups and downs of the the US Dollar Index. UUP and UDN only trade during U.S. stock market operations, so they may miss highs or lows outside of U.S. stock market trading hours. the US Dollar Index hit a 20-year high during the U.S. Labor Day holiday on Monday, Sept. 5, when UUP and UDN were untradable.</p><p>the US Dollar Index is still moving higher as of early September 2022. While bullish trends rarely move in a straight line, and the likelihood of occasional corrections increases with increasing levels, the dollar remains the strongest fiat reserve currency in the world, with rising U.S. interest rates and geopolitical turmoil in Europe supporting the dollar's upward trend. If the Fed continues to violently rate hike to curb inflation, and your portfolio contains a large number of stocks and commodity bonds, consider UUP to hedge investment risks.</p><p>Potential obstacles to higher the US Dollar Index are the end of hostilities in Europe and the Federal Reserve's shift in monetary policy in response to mounting recession pressures.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/020072d4d1ad231ae4a1345540d7972c","relate_stocks":{"QQQ":"纳指100ETF","UDN":"做空美元指数-PowerShares","UUP":"美元ETF-PowerShares DB"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198267340","content_text":"主要观点：美元指数创新高的直接原因是美联储开启激进加息周期来遏制高通胀。此外，美国经济复苏情况更优、市场避险情绪加大以及非美货币疲软也是美元创新高的推动因素。美元指数是衡量美元兑其他世界储备货币的汇率。虽然该指数包括欧元、英镑、日元、加元、瑞典克朗和瑞士法郎，但欧元兑美元汇率的走势主导着该指数。美元指数欧元兑美元货币权重为 57.6%。当前美元指数的看涨趋势始于 2021年初，当时该指数触底 89.165。此后，该指数屡创新高，于 2022年 9月 1日达到接近 110的水平。货币趋势往往持续多年，美元的看涨趋势或继续突破新高。Invesco DB美元看涨基金 ( NYSEARCA: UUP )随指数上涨和下跌，而 UDN产品则相反。美元指数创二十年新高美元指数期货合约在 2021年 1月上旬跌至 89.165的低点。此后，该指数不断创出更高的低点和更高的高点，突破了 2022年 5月的关键技术阻力位。ICE美元指数期货合约（条形图）图表显示美元指数在 9月1日达到 110.260高点的技术突破。该指数上一次超过 110是在 2002年。它在 9月 2日星期五收于 109.510，并在 9月星期一创下新高。美联储仍致力于对抗通胀美国货币政策是过去几个月点燃美元看涨导火索并将其推至二十年来最好水平的因素之一。最近在怀俄明州杰克逊霍尔举行的年度会议上，美联储主席杰罗姆鲍威尔和其他美联储经济学家重申了他们通过提高利率来对抗通胀的鹰派承诺。市场预测美联储在即将举行的 9月 FOMC会议上将联邦基金利率上调50甚至 75个基点。欧元的看跌趋势与此同时，欧洲战争为美元创造了一个几乎完美的基本面看涨案例，这给欧元带来了巨大压力。自欧元兑美元以平价交易以来，已经过去了 20年。欧元兑美元汇率自 2021年初以来稳步下跌后，于 9月 5日跌破平价。欧元兑美元货币对（条形图）该图表显示了欧元兑美元自 2021年 1月初跌至 1.2349美元、9月 5日触及近期低点 0.98785美元以来的最小阻力路径。UUP是看涨美元指数ETF产品美元指数中风险头寸的最直接途径是通过洲际交易所 ( ICE )的期货合约。对于那些不希望涉足期货市场或全球场外外汇市场的情况下参与美元上涨的人来说，Invesco DB美元指数看涨基金随着指数的上涨。UUP的看跌对手 UDN产品则相反。在 9月 2日每股 29.38美元的水平上，UUP管理的资产为 20.51亿美元。该基金平均每天交易超过 390万股，并收取 0.78%的管理费。17.52美元的看跌 UDN产品管理着 7188.4万美元的资产。UDN平均每天交易 141,895股，费用率为 0.77%。美元指数从 2021年初的 89.165升至 2022年 9月 1日的 109.980，涨幅为 23.3%。UUP牛市美元指数ETF产品图表（条形图）同期，UUP从每股 24.09美元上涨至 29.47美元，涨幅为 22.3%。同期看跌的 UDN产品从每股 21.91美元跌至 17.49美元，跌幅为 20.2%。UUP和 UDN产品在跟踪美元指数的上下波动方面表现出色。UUP和 UDN仅在美国股市运行期间交易，因此它们可能会错过美国股市交易时间以外的高点或低点。美元指数在 9月 5日星期一美国劳动节假期创下 20年来新高，当时 UUP和 UDN无法交易。截至 2022年 9月上旬，美元指数走势依然走高。虽然看涨趋势很少直线移动，并且偶尔修正的可能性随着水平的增加而增加，但美元仍然是世界上最强劲的法定储备货币，美国利率上升和欧洲地缘政治动荡为美元的上涨趋势提供支持。如果美联储继续暴力加息遏制通胀，而你的投资组合里面包含大量股票和商品债券，可以考虑UUP对冲投资风险。美元指数走高的潜在障碍是欧洲敌对行动的结束和美联储为应对日益加剧的衰退压力而转变货币政策。","news_type":1,"symbols_score_info":{"UDN":0.9,"UUP":0.9,"QQQ":0.9}},"isVote":1,"tweetType":1,"viewCount":2747,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938707190,"gmtCreate":1662674306310,"gmtModify":1676537112429,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938707190","repostId":"1124805025","repostType":4,"repost":{"id":"1124805025","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1662624142,"share":"https://ttm.financial/m/news/1124805025?lang=en_US&edition=fundamental","pubTime":"2022-09-08 16:02","market":"us","language":"zh","title":"Change | Two good blessings! Game Station rose more than 11% premarket","url":"https://stock-news.laohu8.com/highlight/detail?id=1124805025","media":"老虎资讯综合","summary":"9月8日，美股指期货小幅走低，道指期货跌0.16%，纳指期货跌0.2%，标普500指数期货跌0.18%。热门中概股盘前走低，网易、小鹏汽车跌超3%，理想汽车跌近3%，贝壳跌2.5%，阿里巴巴跌近2%；","content":"<p><html><head></head><body>On September 8th, US stock index futures fell slightly, with Dow futures falling by 0.16%, Nasdaq futures falling by 0.2% and S&P 500 futures falling by 0.18%.</p><p><img src=\"https://static.tigerbbs.com/5ecf989e562a3ae30178b99074a91a48\" tg-width=\"386\" tg-height=\"191\" referrerpolicy=\"no-referrer\"/></p><p>Popular Chinese stocks fell before the market,<a href=\"https://laohu8.com/S/NTES\">Netease</a>、<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It fell nearly 3%,<a href=\"https://laohu8.com/S/BEKE\">Shell</a>down 2.5%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>down nearly 2%;</p><p><a href=\"https://laohu8.com/S/GME\">Game Station</a>It rose by more than 11% before the market, and recorded a net loss of 108.7 million USD in Q2, which was better than expected. The company reached a cooperation with cryptocurrency exchange FTX;</p><p><a href=\"https://laohu8.com/S/GSAT\">Global Star</a>It rose more than 5% before the market, providing satellite communication services for iPhone14;</p><p><a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It rose by nearly 2% before the market, turned losses into profits in the second quarter, and achieved adjusted profits for three consecutive quarters;</p><p><a href=\"https://laohu8.com/S/FSLR\">First Solar</a>It rose nearly 4% before the market,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Upgraded it two notches in a row to Buy, significantly raising its price target to $172.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Change | Two good blessings! Game Station rose more than 11% premarket</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChange | Two good blessings! Game Station rose more than 11% premarket\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-09-08 16:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On September 8th, US stock index futures fell slightly, with Dow futures falling by 0.16%, Nasdaq futures falling by 0.2% and S&P 500 futures falling by 0.18%.</p><p><img src=\"https://static.tigerbbs.com/5ecf989e562a3ae30178b99074a91a48\" tg-width=\"386\" tg-height=\"191\" referrerpolicy=\"no-referrer\"/></p><p>Popular Chinese stocks fell before the market,<a href=\"https://laohu8.com/S/NTES\">Netease</a>、<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It fell nearly 3%,<a href=\"https://laohu8.com/S/BEKE\">Shell</a>down 2.5%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>down nearly 2%;</p><p><a href=\"https://laohu8.com/S/GME\">Game Station</a>It rose by more than 11% before the market, and recorded a net loss of 108.7 million USD in Q2, which was better than expected. The company reached a cooperation with cryptocurrency exchange FTX;</p><p><a href=\"https://laohu8.com/S/GSAT\">Global Star</a>It rose more than 5% before the market, providing satellite communication services for iPhone14;</p><p><a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It rose by nearly 2% before the market, turned losses into profits in the second quarter, and achieved adjusted profits for three consecutive quarters;</p><p><a href=\"https://laohu8.com/S/FSLR\">First Solar</a>It rose nearly 4% before the market,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Upgraded it two notches in a row to Buy, significantly raising its price target to $172.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fd680cd945fd32917c8ece66ec685e5f","relate_stocks":{"GME":"游戏驿站","BK4076":"电脑与电子产品零售","BK4577":"网络游戏","BK4547":"WSB热门概念"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124805025","content_text":"9月8日，美股指期货小幅走低，道指期货跌0.16%，纳指期货跌0.2%，标普500指数期货跌0.18%。热门中概股盘前走低，网易、小鹏汽车跌超3%，理想汽车跌近3%，贝壳跌2.5%，阿里巴巴跌近2%；游戏驿站盘前涨超11%，Q2录得净亏损1.087亿美元好于预期，公司与加密货币交易所FTX达成合作；全球星盘前涨超5%，为iPhone14提供卫星通信服务；高途盘前涨近2%，二季度经调业绩扭亏为盈，连续三个季度实现经调盈利；第一太阳能盘前涨近4%，高盛将其评级连升两级至买入，大幅上调目标价至172美元。","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":2733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938704714,"gmtCreate":1662674292339,"gmtModify":1676537112421,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938704714","repostId":"1107067060","repostType":4,"repost":{"id":"1107067060","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1662626319,"share":"https://ttm.financial/m/news/1107067060?lang=en_US&edition=fundamental","pubTime":"2022-09-08 16:38","market":"sh","language":"zh","title":"Market Overview | Tencent was reduced by major shareholders, and tourism stocks became a new hot spot","url":"https://stock-news.laohu8.com/highlight/detail?id=1107067060","media":"老虎资讯综合","summary":"恒生指数跌1%失守19000点。","content":"<p><html><head></head><body><b>Hong Kong stock</b></p><p>Today, the three major indices of Hong Kong stocks accelerated in the afternoon. The Hang Seng Index fell by 1% to 19,000 points, and the H-SH Index fell by 1.18%. Both recorded six consecutive losses, and the Hang Seng Technology Index fell by 1%, which also fell below the 4,000-point integer mark. All three major indices refreshed their low prices.</p><p><img src=\"https://static.tigerbbs.com/da7032bb707f39db3c893a48cc933ea1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Mainland property developer stocks fell,<a href=\"https://laohu8.com/S/00884\">CIFI HOLDINGS Group</a>down 13.59%,<a href=\"https://laohu8.com/S/03383\">AGILE GROUP</a>down 7.12%,<a href=\"https://laohu8.com/S/02007\">Country Garden</a>down 6.78%,<a href=\"https://laohu8.com/S/00960\">LONGFOR GROUP</a>down 1.13%,<a href=\"https://laohu8.com/S/01109\">China Resources Land</a>down 1.53%, but<a href=\"https://laohu8.com/S/03900\">Greentown China</a>up 1.24%. previously<a href=\"https://laohu8.com/S/01918\">Sunac China</a>The sudden \"liquidation petition\", which Sunac said was a radical behavior of a single creditor, did not affect the company's operation and debt restructuring.</p><p>Oil stocks were among the top losers,<a href=\"https://laohu8.com/S/02883\">CNOOC Oilfield Services</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/00883\">CNOOC</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/PTR\">PetroChina</a>It fell by more than 1%,<a href=\"https://laohu8.com/S/SNP\">Sinopec</a>Follow the fall.</p><p>Auto stocks are lower,<a href=\"https://laohu8.com/S/02333\">Great Wall Motors</a>Down nearly 5%,<a href=\"https://laohu8.com/S/00175\">Geely Automobile</a>、<a href=\"https://laohu8.com/S/01211\">BYD Shares</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/02015\">Li Auto-W.</a>down 2.96%,<a href=\"https://laohu8.com/S/09868\">XPeng Motors-W</a>down 2.64%,<a href=\"https://laohu8.com/S/09866\">Nio-SW</a>Hong Kong stocks fell 0.87%.</p><p>Power stocks exploded,<a href=\"https://laohu8.com/S/01798\">Datang New Energy</a>Up more than 10%,<a href=\"https://laohu8.com/S/00902\">Huaneng Power International</a>Over 6%, China Resources Power rose over 5%,<a href=\"https://laohu8.com/S/02380\">China Power</a>It rose by more than 3%.</p><p><img src=\"https://static.tigerbbs.com/8c608cf5a6c51e99a76ec330cd4dcf6b\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>The semiconductor sector pulled up,<a href=\"https://laohu8.com/S/02878\">Gate semiconductor</a>rose by more than 8%,<a href=\"https://laohu8.com/S/01385\">Shanghai Fudan</a>rose by more than 7%,<a href=\"https://laohu8.com/S/06908\">Hongguang Semiconductor</a>Wait for it to rise.</p><p>Travel stocks are active,<a href=\"https://laohu8.com/S/00487\">Shide Global</a>It rose by more than 14%,<a href=\"https://laohu8.com/S/08069\">Zonghengyou Holdings</a>Up more than 10%,<a href=\"https://laohu8.com/S/00234\">New Century Group</a>rose by more than 8%,<a href=\"https://laohu8.com/S/06882\">Eastern Japan Tour</a>It rose by more than 3%.</p><p><a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>It fell by more than 3%.<b>According to data from the CCASS system on September 7th, Tencent shareholders transferred 193 million shares (2%) to Hong Kong's central clearing system.</b><b>Such a move often means that the shareholders concerned will sell the shares.</b><b>It is worth noting that Naspers, the majority shareholder of Tencent South Africa, and Prosus, its flagship Internet investment, announced at the end of June this year that they would reduce their holdings of Tencent without an upper limit to cash out to support their own repurchase.</b></p><p><img src=\"https://static.tigerbbs.com/6c35ca80d5cbd52bad8f7d15449ac7c9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>A Shares</b></p><p>On September 8th, the three major A-share indexes fell together. The Shanghai Composite Index fluctuated within a narrow range in early trading, and continued to fall in the afternoon. It closed down 0.33% to 3,235 points throughout the day, and the Shenzhen Component Index fell 0.86%.<a href=\"https://laohu8.com/S/300750\">CATL</a>The impact fell by 1.86%. The turnover of the two cities was 788 billion yuan, and the net sale of northbound funds was 86 million yuan, which was the sixth consecutive day of net sale.</p><p><img src=\"https://static.tigerbbs.com/df7a4905a8d12acf6ebde0b7d9355988\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Gas concept was among the top decliners.<a href=\"https://laohu8.com/S/000593\">Delong Huineng</a>、<a href=\"https://laohu8.com/S/605090\">JOVO ENERGY</a>、<a href=\"https://laohu8.com/S/000421\">Nanjing Public Utilities</a>Falling limit,<a href=\"https://laohu8.com/S/605169\">Hongtong Gas</a>、<a href=\"https://laohu8.com/S/603318\">Water-generated gas</a>、<a href=\"https://laohu8.com/S/300483\">Shouhua Gas</a>、<a href=\"https://laohu8.com/S/603706\">Oriental Universe</a>Wait for the fall. On the news, the European Union will propose to impose restrictions on Russian natural gas prices to cut Russia's fiscal revenue.</p><p>Oil stocks are lower,<a href=\"https://laohu8.com/S/600777\">Xinchao Energy</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/600938\">CNOOC</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/000968\">Blue Flame Holdings</a>、<a href=\"https://laohu8.com/S/600759\">ST Intercontinental</a>Follow the fall. International oil prices plummeted on Wednesday, and investors further looked down on the prospect of oil demand.</p><p>The concept of lithium battery oscillates downward,<a href=\"https://laohu8.com/S/300750\">CATL</a>fell by more than 5%,<a href=\"https://laohu8.com/S/300014\">Yiwei Lithium Energy</a>、<a href=\"https://laohu8.com/S/002812\">Enjie Shares</a>、<a href=\"https://laohu8.com/S/603799\">Huayou Cobalt</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/002466\">Tianqi Lithium</a>、<a href=\"https://laohu8.com/S/002460\">Ganfeng Lithium</a>Wait for the fall. Although the arrival of the peak season has driven the lithium price to continue to rise, market investors are increasingly afraid of high prices, and they are generally worried about the sustainability of lithium prices.</p><p><img src=\"https://static.tigerbbs.com/456632ef74a94758e63b817b5745073a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Precious metal concepts were among the top gainers.<a href=\"https://laohu8.com/S/000975\">Yintai Gold</a>rose by more than 8%,<a href=\"https://laohu8.com/S/002155\">Hunan Gold</a>Up more than 5%,<a href=\"https://laohu8.com/S/601069\">Western Gold</a>、<a href=\"https://laohu8.com/S/300139\">Xiaocheng Technology</a>Wait for it to rise.</p><p>The concept of hotel catering has soared,<a href=\"https://laohu8.com/S/605108\">Tongqing Building</a>rose by more than 8%,<a href=\"https://laohu8.com/S/301073\">Grand Pavilion Hotel</a>rose by more than 6%,<a href=\"https://laohu8.com/S/000610\">Xi'an Tourism</a>rose by more than 4%,<a href=\"https://laohu8.com/S/000721\">Xi'an Diet</a>、<a href=\"https://laohu8.com/S/600258\">BTG Hotel</a>Wait for it to rise.<a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>It is pointed out that the stability of the service consumption industry chain is enhanced under the controllable epidemic situation, and we are optimistic about the flexibility of performance recovery after the epidemic situation stabilizes.</p><p>The concepts of tourism, scenic spots and aviation airports have strengthened collectively,<a href=\"https://laohu8.com/S/000978\">Guilin Tourism</a>daily limit,<a href=\"https://laohu8.com/S/300144\">Songcheng Performing Arts</a>Changchao, Shanghai Airport,<a href=\"https://laohu8.com/S/600004\">Baiyun Airport</a>It rose by more than 3%. In the past week, the reservations of local hotels in the Mid-Autumn Festival increased by more than 1.7 times compared with the previous week, and the reservations of vacation products such as tickets to local scenic spots increased by more than 2.3 times.</p><p><b>U.S. stocks</b></p><p>U.S. stock index futures edged lower. Markets pay attention to tonight's speech by Federal Reserve Chairman Powell.<img src=\"https://static.tigerbbs.com/66e5b70e89326d37ecea79cf90b92a89\" tg-width=\"768\" tg-height=\"263\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It rose by more than 3% before the market, and in the second quarter, the adjusted performance turned losses into profits, achieving adjusted profits for three consecutive quarters.</p><p>Some Chinese stocks fell,<a href=\"https://laohu8.com/S/NTES\">Netease</a>Down 3%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>down 2.8%,<a href=\"https://laohu8.com/S/BEKE\">Shell</a>down 1.91%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>down 1.76%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>down 1.66%.</p><p><a href=\"https://laohu8.com/S/GME\">Game Station</a>It rose by more than 9% before the market, and Q2 recorded a net loss of $108.7 million, which was better than expected. The company reached a cooperation with cryptocurrency exchange FTX.</p><p><a href=\"https://laohu8.com/S/GSAT\">Global Star</a>It rose 5% premarket to provide satellite communication services for iPhone14.</p><p><b>Commodities</b></p><p>International oil prices fluctuated. The rate hike of central banks in the world's major economies continues to be bearish on oil markets, despite investors' concerns that fuel supplies may become increasingly tight due to the deep energy stalemate between Europe and Russia.</p><p><img src=\"https://static.tigerbbs.com/4bb4cc5dc5ad544c506b4d4ee15c15c4\" tg-width=\"881\" tg-height=\"536\" referrerpolicy=\"no-referrer\"/></p><p>International gold prices fluctuated within a narrow range. The market is still watching the Fed's policy movements.</p><p><img src=\"https://static.tigerbbs.com/ba902eeb61755d05811fbde98b0d30e5\" tg-width=\"1020\" tg-height=\"563\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Overview | Tencent was reduced by major shareholders, and tourism stocks became a new hot spot</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Overview | Tencent was reduced by major shareholders, and tourism stocks became a new hot spot\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-09-08 16:38</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>Hong Kong stock</b></p><p>Today, the three major indices of Hong Kong stocks accelerated in the afternoon. The Hang Seng Index fell by 1% to 19,000 points, and the H-SH Index fell by 1.18%. Both recorded six consecutive losses, and the Hang Seng Technology Index fell by 1%, which also fell below the 4,000-point integer mark. All three major indices refreshed their low prices.</p><p><img src=\"https://static.tigerbbs.com/da7032bb707f39db3c893a48cc933ea1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Mainland property developer stocks fell,<a href=\"https://laohu8.com/S/00884\">CIFI HOLDINGS Group</a>down 13.59%,<a href=\"https://laohu8.com/S/03383\">AGILE GROUP</a>down 7.12%,<a href=\"https://laohu8.com/S/02007\">Country Garden</a>down 6.78%,<a href=\"https://laohu8.com/S/00960\">LONGFOR GROUP</a>down 1.13%,<a href=\"https://laohu8.com/S/01109\">China Resources Land</a>down 1.53%, but<a href=\"https://laohu8.com/S/03900\">Greentown China</a>up 1.24%. previously<a href=\"https://laohu8.com/S/01918\">Sunac China</a>The sudden \"liquidation petition\", which Sunac said was a radical behavior of a single creditor, did not affect the company's operation and debt restructuring.</p><p>Oil stocks were among the top losers,<a href=\"https://laohu8.com/S/02883\">CNOOC Oilfield Services</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/00883\">CNOOC</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/PTR\">PetroChina</a>It fell by more than 1%,<a href=\"https://laohu8.com/S/SNP\">Sinopec</a>Follow the fall.</p><p>Auto stocks are lower,<a href=\"https://laohu8.com/S/02333\">Great Wall Motors</a>Down nearly 5%,<a href=\"https://laohu8.com/S/00175\">Geely Automobile</a>、<a href=\"https://laohu8.com/S/01211\">BYD Shares</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/02015\">Li Auto-W.</a>down 2.96%,<a href=\"https://laohu8.com/S/09868\">XPeng Motors-W</a>down 2.64%,<a href=\"https://laohu8.com/S/09866\">Nio-SW</a>Hong Kong stocks fell 0.87%.</p><p>Power stocks exploded,<a href=\"https://laohu8.com/S/01798\">Datang New Energy</a>Up more than 10%,<a href=\"https://laohu8.com/S/00902\">Huaneng Power International</a>Over 6%, China Resources Power rose over 5%,<a href=\"https://laohu8.com/S/02380\">China Power</a>It rose by more than 3%.</p><p><img src=\"https://static.tigerbbs.com/8c608cf5a6c51e99a76ec330cd4dcf6b\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>The semiconductor sector pulled up,<a href=\"https://laohu8.com/S/02878\">Gate semiconductor</a>rose by more than 8%,<a href=\"https://laohu8.com/S/01385\">Shanghai Fudan</a>rose by more than 7%,<a href=\"https://laohu8.com/S/06908\">Hongguang Semiconductor</a>Wait for it to rise.</p><p>Travel stocks are active,<a href=\"https://laohu8.com/S/00487\">Shide Global</a>It rose by more than 14%,<a href=\"https://laohu8.com/S/08069\">Zonghengyou Holdings</a>Up more than 10%,<a href=\"https://laohu8.com/S/00234\">New Century Group</a>rose by more than 8%,<a href=\"https://laohu8.com/S/06882\">Eastern Japan Tour</a>It rose by more than 3%.</p><p><a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>It fell by more than 3%.<b>According to data from the CCASS system on September 7th, Tencent shareholders transferred 193 million shares (2%) to Hong Kong's central clearing system.</b><b>Such a move often means that the shareholders concerned will sell the shares.</b><b>It is worth noting that Naspers, the majority shareholder of Tencent South Africa, and Prosus, its flagship Internet investment, announced at the end of June this year that they would reduce their holdings of Tencent without an upper limit to cash out to support their own repurchase.</b></p><p><img src=\"https://static.tigerbbs.com/6c35ca80d5cbd52bad8f7d15449ac7c9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>A Shares</b></p><p>On September 8th, the three major A-share indexes fell together. The Shanghai Composite Index fluctuated within a narrow range in early trading, and continued to fall in the afternoon. It closed down 0.33% to 3,235 points throughout the day, and the Shenzhen Component Index fell 0.86%.<a href=\"https://laohu8.com/S/300750\">CATL</a>The impact fell by 1.86%. The turnover of the two cities was 788 billion yuan, and the net sale of northbound funds was 86 million yuan, which was the sixth consecutive day of net sale.</p><p><img src=\"https://static.tigerbbs.com/df7a4905a8d12acf6ebde0b7d9355988\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Gas concept was among the top decliners.<a href=\"https://laohu8.com/S/000593\">Delong Huineng</a>、<a href=\"https://laohu8.com/S/605090\">JOVO ENERGY</a>、<a href=\"https://laohu8.com/S/000421\">Nanjing Public Utilities</a>Falling limit,<a href=\"https://laohu8.com/S/605169\">Hongtong Gas</a>、<a href=\"https://laohu8.com/S/603318\">Water-generated gas</a>、<a href=\"https://laohu8.com/S/300483\">Shouhua Gas</a>、<a href=\"https://laohu8.com/S/603706\">Oriental Universe</a>Wait for the fall. On the news, the European Union will propose to impose restrictions on Russian natural gas prices to cut Russia's fiscal revenue.</p><p>Oil stocks are lower,<a href=\"https://laohu8.com/S/600777\">Xinchao Energy</a>It fell by more than 4%,<a href=\"https://laohu8.com/S/600938\">CNOOC</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/000968\">Blue Flame Holdings</a>、<a href=\"https://laohu8.com/S/600759\">ST Intercontinental</a>Follow the fall. International oil prices plummeted on Wednesday, and investors further looked down on the prospect of oil demand.</p><p>The concept of lithium battery oscillates downward,<a href=\"https://laohu8.com/S/300750\">CATL</a>fell by more than 5%,<a href=\"https://laohu8.com/S/300014\">Yiwei Lithium Energy</a>、<a href=\"https://laohu8.com/S/002812\">Enjie Shares</a>、<a href=\"https://laohu8.com/S/603799\">Huayou Cobalt</a>It fell by more than 3%,<a href=\"https://laohu8.com/S/002466\">Tianqi Lithium</a>、<a href=\"https://laohu8.com/S/002460\">Ganfeng Lithium</a>Wait for the fall. Although the arrival of the peak season has driven the lithium price to continue to rise, market investors are increasingly afraid of high prices, and they are generally worried about the sustainability of lithium prices.</p><p><img src=\"https://static.tigerbbs.com/456632ef74a94758e63b817b5745073a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Precious metal concepts were among the top gainers.<a href=\"https://laohu8.com/S/000975\">Yintai Gold</a>rose by more than 8%,<a href=\"https://laohu8.com/S/002155\">Hunan Gold</a>Up more than 5%,<a href=\"https://laohu8.com/S/601069\">Western Gold</a>、<a href=\"https://laohu8.com/S/300139\">Xiaocheng Technology</a>Wait for it to rise.</p><p>The concept of hotel catering has soared,<a href=\"https://laohu8.com/S/605108\">Tongqing Building</a>rose by more than 8%,<a href=\"https://laohu8.com/S/301073\">Grand Pavilion Hotel</a>rose by more than 6%,<a href=\"https://laohu8.com/S/000610\">Xi'an Tourism</a>rose by more than 4%,<a href=\"https://laohu8.com/S/000721\">Xi'an Diet</a>、<a href=\"https://laohu8.com/S/600258\">BTG Hotel</a>Wait for it to rise.<a href=\"https://laohu8.com/S/601555\">Soochow Securities</a>It is pointed out that the stability of the service consumption industry chain is enhanced under the controllable epidemic situation, and we are optimistic about the flexibility of performance recovery after the epidemic situation stabilizes.</p><p>The concepts of tourism, scenic spots and aviation airports have strengthened collectively,<a href=\"https://laohu8.com/S/000978\">Guilin Tourism</a>daily limit,<a href=\"https://laohu8.com/S/300144\">Songcheng Performing Arts</a>Changchao, Shanghai Airport,<a href=\"https://laohu8.com/S/600004\">Baiyun Airport</a>It rose by more than 3%. In the past week, the reservations of local hotels in the Mid-Autumn Festival increased by more than 1.7 times compared with the previous week, and the reservations of vacation products such as tickets to local scenic spots increased by more than 2.3 times.</p><p><b>U.S. stocks</b></p><p>U.S. stock index futures edged lower. Markets pay attention to tonight's speech by Federal Reserve Chairman Powell.<img src=\"https://static.tigerbbs.com/66e5b70e89326d37ecea79cf90b92a89\" tg-width=\"768\" tg-height=\"263\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/GOTU\">Gaotu</a>It rose by more than 3% before the market, and in the second quarter, the adjusted performance turned losses into profits, achieving adjusted profits for three consecutive quarters.</p><p>Some Chinese stocks fell,<a href=\"https://laohu8.com/S/NTES\">Netease</a>Down 3%,<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>down 2.8%,<a href=\"https://laohu8.com/S/BEKE\">Shell</a>down 1.91%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>down 1.76%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>down 1.66%.</p><p><a href=\"https://laohu8.com/S/GME\">Game Station</a>It rose by more than 9% before the market, and Q2 recorded a net loss of $108.7 million, which was better than expected. The company reached a cooperation with cryptocurrency exchange FTX.</p><p><a href=\"https://laohu8.com/S/GSAT\">Global Star</a>It rose 5% premarket to provide satellite communication services for iPhone14.</p><p><b>Commodities</b></p><p>International oil prices fluctuated. The rate hike of central banks in the world's major economies continues to be bearish on oil markets, despite investors' concerns that fuel supplies may become increasingly tight due to the deep energy stalemate between Europe and Russia.</p><p><img src=\"https://static.tigerbbs.com/4bb4cc5dc5ad544c506b4d4ee15c15c4\" tg-width=\"881\" tg-height=\"536\" referrerpolicy=\"no-referrer\"/></p><p>International gold prices fluctuated within a narrow range. The market is still watching the Fed's policy movements.</p><p><img src=\"https://static.tigerbbs.com/ba902eeb61755d05811fbde98b0d30e5\" tg-width=\"1020\" tg-height=\"563\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5d11890cd6ccd454a56d86737fd3353","relate_stocks":{"000001.SH":"上证指数","HSI":"恒生指数"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107067060","content_text":"港股今日，港股三大指数午后加速下行，恒指跌1%失守19000点，国指跌1.18%，二者录得6连跌，恒生科技指数跌1%，亦跌破4000点整数关，三大指数皆刷新阶段低价。内地房地产发展商股下跌，旭辉控股集团跌13.59%，雅居乐集团跌7.12%，碧桂园跌6.78%，龙湖集团跌1.13%，华润置地跌1.53%，不过绿城中国涨1.24%。此前融创中国突遭“清盘呈请”，对此融创称此系单个债权人的激进行为，不影响公司经营和债务重组推进。石油股跌幅居前，中海油田服务跌超4%，中国海洋石油跌超3%，中石油跌超1%，中石化跟跌。汽车股走低，长城汽车跌近5%，吉利汽车、比亚迪股份跌超3%，理想汽车-W跌2.96%，小鹏汽车-W跌2.64%，蔚来-SW港股跌0.87%。电力股爆发，大唐新能源涨超10%，华能国际电力股份涨超6%，华润电力涨超5%，中国电力涨超3%。半导体板块拉升，晶门半导体涨超8%，上海复旦涨超7%，宏光半导体等跟涨。旅游股表现活跃，实德环球涨超14%，纵横游控股涨超10%，新世纪集团涨超8%，东瀛游涨超3%。腾讯控股跌超3%。据CCASS系统9月7日的数据显示，腾讯股东将1.93亿股(2%)股份转入了香港的中央结算系统。此举往往意味着有关股东将出售这些股票。值得注意的是，腾讯南非大股东Naspers及旗下互联网投资旗舰Prosus今年6月底宣布，会无上限减持腾讯以套现支持自身回购。A股9月8日，A股三大指数齐跌，沪指早盘窄幅震荡，午后持续走低，全天收跌0.33%报3235点，深成指跌0.86%，创业板指受宁德时代影响跌1.86%。两市成交额7880亿，北上资金净卖出8600万，为连续第6天净卖出。燃气概念跌幅居前。德龙汇能、九丰能源、南京公用跌停，洪通燃气、水发燃气、首华燃气、东方环宇等跟跌。消息面上，欧盟将提议对俄罗斯天然气价格实施限制，以削减俄罗斯的财政收入。石油股走低，新潮能源跌超4%，中国海油跌超3%，蓝焰控股、ST洲际跟跌。周三国际油价大跌，投资者进一步看衰石油需求前景。锂电池概念震荡下行，宁德时代跌超5%，亿纬锂能、恩捷股份、华友钴业跌超3%，天齐锂业、赣锋锂业等跟跌。虽然旺季来临带动锂价继续探涨，但市场投资者畏高情绪愈发蔓延，普遍担忧锂价可持续性。贵金属概念涨幅居前。银泰黄金涨超8%，湖南黄金涨超5%，西部黄金、晓程科技等跟涨。酒店餐饮概念大涨，同庆楼涨超8%，君亭酒店涨超6%，西安旅游涨超4%，西安饮食、首旅酒店等跟涨。东吴证券指出，疫情可控下服务消费产业链稳定性增强，看好疫情趋稳后业绩弹性恢复。旅游及景区、航空机场概念集体走强，桂林旅游涨停，宋城演艺涨超、上海机场、白云机场涨超3%。近一周，中秋本地酒店预订量比前一周增长超1.7倍，本地景区门票等度假产品预订量增超2.3倍。美股美股指期货小幅走低。市场关注今晚美联储主席鲍威尔的讲话。高途盘前涨超3%，二季度经调业绩扭亏为盈，连续三个季度实现经调盈利。部分中概股走低，网易跌3%、小鹏汽车跌2.8%，贝壳跌1.91%，理想汽车跌1.76%，阿里巴巴跌1.66%。游戏驿站盘前涨超9%，Q2录得净亏损1.087亿美元好于预期，公司与加密货币交易所FTX达成合作。全球星盘前涨5%，为iPhone14提供卫星通信服务。大宗商品国际油价震荡。尽管由于欧洲和俄罗斯之间深陷能源僵局，投资者担心燃料供应可能会变得愈发紧张，但全球主要经济体央行加息继续利空油市。国际金价窄幅震荡。市场仍在观察美联储政策动向。","news_type":1,"symbols_score_info":{"HSI":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":3116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938704225,"gmtCreate":1662674277367,"gmtModify":1676537112414,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938704225","repostId":"1196569367","repostType":4,"repost":{"id":"1196569367","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1662639329,"share":"https://ttm.financial/m/news/1196569367?lang=en_US&edition=fundamental","pubTime":"2022-09-08 20:15","market":"other","language":"zh","title":"ECB Announces rate hike of 75 bps, in line with market expectations","url":"https://stock-news.laohu8.com/highlight/detail?id=1196569367","media":"老虎资讯综合","summary":"9月8日，欧洲央行将三大主要利率均上调75个基点，符合市场预期，为1999年来首次大幅加息75个基点。欧洲央行将存款利率上调至0.750%，将基准利率上调至1.250%，将边际贷款利率上调到1.5%。","content":"<p><html><head></head><body>On Sept. 8, the European Central Bank raised all three major interest rates by 75 basis points, in line with market expectations, marking the first sharp 75 basis point rate hike since 1999. The ECB raised the deposit rate to 0.750%, the benchmark rate to 1.250% and the marginal lending rate to 1.5%.</p><p>After the European Central Bank announced the interest rate decision, the euro rose by more than 20 points against the US dollar in the short term, and it is now reported at 1.0028; Germany's Treasury Bond falls, two-year Treasury Bond yields up 3 basis points; Italian and German 10-year Treasury Bond yield spreads narrowed to 221 basis points.</p><p>The ECB noted that the rate hike 75 basis points heralded a transition from the current level of highly accommodative policy interest rates to levels that ensured inflation could return to the ECB's medium-term target of 2% in time. But inflation remains too high and is likely to stay above the target for a long time; At next few meetings, the management committee is expected to raise interest rates further to curb demand.</p><p>According to the latest monetary policy resolution, the reinvestment of the ECB's Emergency Anti-epidemic Bond Purchase Programme (PEPP) will continue until at least the end of 2024 to cope with the risk of monetary policy transmission mechanism triggered by COVID-19. Furthermore, the ECB expects further rate hike at the next few meetings.</p><p>Inflation hit 9.1pc in August, according to preliminary estimates from Eurostat. Surging energy and food prices, demand pressures in certain sectors due to the reopening of the economy, and supply bottlenecks are still driving up inflation. Price pressures continue to strengthen and expand across the economy, and inflation is likely to rise further in the near term. Inflation will fall as the current drivers of inflation fade over time, the impact of monetary policy normalization on the economy and price setting.</p><p>Looking ahead to the economy, the ECB has raised its 2022 GDP growth forecast, forecasting a GDP growth rate of 3.1% in 2022. However, it lowered its 2023 and 2024 GDP growth forecast, which is expected to be 0.9% in 2023 and 1.9% in 2024.</p><p>The ECB also raised its inflation forecasts for 2022, 2023 and 2024, forecasting a CPI of 8.1% in 2022, 5.5% in 2023 and 2.3 in 2024.</p><p>After a rebound in the first half of 2022, recent data showed a sharp slowdown in eurozone economic growth, with the economy expected to grind to a halt later this year and in the first quarter of 2023. Analysts pointed out that the European Central Bank once again raised its euro zone inflation forecast and lowered its 2023 economic growth forecast, as the reduction of Russian natural gas supply will weigh on confidence, consumption and investment in the euro zone. The ECB has repeatedly underestimated inflation levels over the past two years, as real prices have risen more than even its most pessimistic expectations, raising questions about the credibility of these forecasts. The ECB expects inflation to be 2.3% in 2024, above its 2% target. Although inflation was initially driven by high energy prices, energy costs have begun to penetrate the broader economy, adding to potential price pressures.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ECB Announces rate hike of 75 bps, in line with market expectations</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nECB Announces rate hike of 75 bps, in line with market expectations\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-09-08 20:15</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On Sept. 8, the European Central Bank raised all three major interest rates by 75 basis points, in line with market expectations, marking the first sharp 75 basis point rate hike since 1999. The ECB raised the deposit rate to 0.750%, the benchmark rate to 1.250% and the marginal lending rate to 1.5%.</p><p>After the European Central Bank announced the interest rate decision, the euro rose by more than 20 points against the US dollar in the short term, and it is now reported at 1.0028; Germany's Treasury Bond falls, two-year Treasury Bond yields up 3 basis points; Italian and German 10-year Treasury Bond yield spreads narrowed to 221 basis points.</p><p>The ECB noted that the rate hike 75 basis points heralded a transition from the current level of highly accommodative policy interest rates to levels that ensured inflation could return to the ECB's medium-term target of 2% in time. But inflation remains too high and is likely to stay above the target for a long time; At next few meetings, the management committee is expected to raise interest rates further to curb demand.</p><p>According to the latest monetary policy resolution, the reinvestment of the ECB's Emergency Anti-epidemic Bond Purchase Programme (PEPP) will continue until at least the end of 2024 to cope with the risk of monetary policy transmission mechanism triggered by COVID-19. Furthermore, the ECB expects further rate hike at the next few meetings.</p><p>Inflation hit 9.1pc in August, according to preliminary estimates from Eurostat. Surging energy and food prices, demand pressures in certain sectors due to the reopening of the economy, and supply bottlenecks are still driving up inflation. Price pressures continue to strengthen and expand across the economy, and inflation is likely to rise further in the near term. Inflation will fall as the current drivers of inflation fade over time, the impact of monetary policy normalization on the economy and price setting.</p><p>Looking ahead to the economy, the ECB has raised its 2022 GDP growth forecast, forecasting a GDP growth rate of 3.1% in 2022. However, it lowered its 2023 and 2024 GDP growth forecast, which is expected to be 0.9% in 2023 and 1.9% in 2024.</p><p>The ECB also raised its inflation forecasts for 2022, 2023 and 2024, forecasting a CPI of 8.1% in 2022, 5.5% in 2023 and 2.3 in 2024.</p><p>After a rebound in the first half of 2022, recent data showed a sharp slowdown in eurozone economic growth, with the economy expected to grind to a halt later this year and in the first quarter of 2023. Analysts pointed out that the European Central Bank once again raised its euro zone inflation forecast and lowered its 2023 economic growth forecast, as the reduction of Russian natural gas supply will weigh on confidence, consumption and investment in the euro zone. The ECB has repeatedly underestimated inflation levels over the past two years, as real prices have risen more than even its most pessimistic expectations, raising questions about the credibility of these forecasts. The ECB expects inflation to be 2.3% in 2024, above its 2% target. Although inflation was initially driven by high energy prices, energy costs have begun to penetrate the broader economy, adding to potential price pressures.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e88583a358344177a7ed4d97145d67f4","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196569367","content_text":"9月8日，欧洲央行将三大主要利率均上调75个基点，符合市场预期，为1999年来首次大幅加息75个基点。欧洲央行将存款利率上调至0.750%，将基准利率上调至1.250%，将边际贷款利率上调到1.5%。欧洲央行公布利率决议后，欧元兑美元短线拉升逾20点，现报1.0028；德国国债下跌，两年期国债收益率上涨3个基点；意大利和德国10年期国债收益率利差收窄至221个基点。欧洲央行指出，加息75基点预示着从现行高度宽松的政策利率水平将向确保通胀能够及时回到欧洲央行2%的中期目标的水平过渡。但通胀率仍然太高，很可能在很长一段时间内保持在目标之上；在未来几次会议上，管理委员会预计将进一步提高利率，以抑制需求。根据最新的货币政策决议，欧洲央行紧急抗疫购债计划（PEPP）的再投资将至少持续至2024年末，以应对新冠引发的货币政策传导机制风险。此外，欧洲央行预期在未来几次会议上进一步加息。根据欧盟统计局的初步估计，8月份通胀率达到9.1%。能源和食品价格飙升、经济重新开放导致某些行业的需求压力以及供应瓶颈仍在推高通胀。整个经济体的价格压力继续加强和扩大，通胀可能在短期内进一步上升。随着当前通胀的驱动因素随着时间的推移而消退，货币政策正常化对经济和价格制定的影响，通胀将会下降。展望未来经济，欧洲央行上调2022年GDP增速预计，预计2022年GDP增速为3.1%。但下调2023年和2024年GDP增速预期，预计2023年GDP增速为0.9%，预计2024年GDP增速为1.9%。欧洲央行还上调2022年、2023年和2024年通胀预期，预计2022年CPI为8.1%，2023年CPI为5.5%，2024年CPI为2.3。在2022年上半年出现反弹后，近期数据显示欧元区经济增长大幅放缓，预计经济将在今年晚些时候和2023年第一季度陷入停滞。分析师指出，欧洲央行再次上调欧元区通胀预估，且下调2023年经济增长预估，因俄罗斯天然气供应减少将打压欧元区信心、消费和投资。过去两年，欧洲央行一再低估通胀水平，因为实际价格增幅甚至超过了其最悲观的预期，这让人对这些预测的可信度产生了质疑。欧洲央行预计2024年通胀预期为2.3%，高于2%的目标。尽管通胀最初是由能源价格高企推动的，但能源成本已开始渗透到更广泛的经济领域，加大了潜在的价格压力。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2538,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938704122,"gmtCreate":1662674261267,"gmtModify":1676537112406,"author":{"id":"3582749181936620","authorId":"3582749181936620","name":"kim_8904","avatar":"https://static.tigerbbs.com/c3a7b2ec68592f23ba2b7dd63757473e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582749181936620","authorIdStr":"3582749181936620"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938704122","repostId":"1141251181","repostType":4,"repost":{"id":"1141251181","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1662643384,"share":"https://ttm.financial/m/news/1141251181?lang=en_US&edition=fundamental","pubTime":"2022-09-08 21:23","market":"other","language":"zh","title":"Powell: The Fed needs to act now to avoid the social cost of inflation","url":"https://stock-news.laohu8.com/highlight/detail?id=1141251181","media":"老虎资讯综合","summary":"9月8日，美联储主席鲍威尔今日参加卡托研究所举办的有关货币政策的会议。美联储主席鲍威尔会上表示，如果没有新冠疫情，不会看到如此高的通胀率。鲍威尔还表示，美联储认为需要直截了当地对通胀采取行动，美联储需","content":"<p><html><head></head><body>On September 8th, Federal Reserve Chairman Powell attended a meeting on monetary policy held by the Cato Institute today. Fed Chairman Powell said at the meeting that if it weren't for COVID, he wouldn't see such high inflation. Powell also said the Fed believes it needs to act straightforwardly on inflation, and the Fed needs to act now to avoid the social costs of inflation. Past experience warns against premature policy relaxation.</p><p><img src=\"https://static.tigerbbs.com/68709fd25713eefc3ea454c86f2bb7bd\" tg-width=\"536\" tg-height=\"302\" referrerpolicy=\"no-referrer\"/></p><p>Powell said the Fed needs to act now to avoid the social costs of inflation. The Fed has the responsibility and willingness to take responsibility for stabilizing prices. The longer inflation stays above target, the greater the risk. The Federal Reserve is firmly committed to bringing inflation down and will not be influenced by political factors. History cautions us against loosening our policies too soon.</p><p>Powell stressed that it is very important to maintain inflation expectations. The Fed's job is to make sure inflation expectations are anchored. Labor market demand remains very strong. Wage levels are rising. Hopefully there will be a period of slower-than-trend economic growth. Economic growth below trend levels will provide a better balance in the labor market. In recent labor market reports, an increase in the popular labor force participation rate has been seen.</p><p>On interest rates, Powell said the money supply-inflation relationship has been volatile. The Fed has never explicitly tied its policies to any particular formula. Not sure what the terminal rate is. Nominal income targets have been studied but do not think this is the right thing to do.</p><p>On shrinking balance sheet, he said that the current shrinking balance sheet operating framework is good, and that shrinking balance sheet is ready to be sized according to economic needs, and there is no reason to return to scarcity reserve levels. The two goals of the Fed are completely not in conflict. There's no reason to move to a single mission. Don't want the Fed's mandate to expand or narrow. The two main missions of the Federal Reserve can be achieved in the medium term. The independence of the Federal Reserve is good for the public.</p><p>Overnight index swaps show nearly 80% chance of a 75 basis point Fed rate hike in September; Futures for the three major U.S. stock indexes fell in the short term, with Nasdaq futures falling 0.74%.</p><p><img src=\"https://static.tigerbbs.com/811ceacf92cc009ba1c0ebf9ca4e013f\" tg-width=\"386\" tg-height=\"186\" referrerpolicy=\"no-referrer\"/></p><p>Analysts' Comments on Fed Chairman Powell's Speech: On the eve of the silent period, Powell did not provide any clues about whether the Fed's next rate hike action will be 50 basis points or 75 basis points. But after yesterday's Wall Street Journal article, interest rate markets have largely priced in 75 basis points of rate hike expectations. The fact that Powell did not object to the proposal suggests that there will almost certainly be another massive rate hike.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell: The Fed needs to act now to avoid the social cost of inflation</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell: The Fed needs to act now to avoid the social cost of inflation\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-09-08 21:23</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On September 8th, Federal Reserve Chairman Powell attended a meeting on monetary policy held by the Cato Institute today. Fed Chairman Powell said at the meeting that if it weren't for COVID, he wouldn't see such high inflation. Powell also said the Fed believes it needs to act straightforwardly on inflation, and the Fed needs to act now to avoid the social costs of inflation. Past experience warns against premature policy relaxation.</p><p><img src=\"https://static.tigerbbs.com/68709fd25713eefc3ea454c86f2bb7bd\" tg-width=\"536\" tg-height=\"302\" referrerpolicy=\"no-referrer\"/></p><p>Powell said the Fed needs to act now to avoid the social costs of inflation. The Fed has the responsibility and willingness to take responsibility for stabilizing prices. The longer inflation stays above target, the greater the risk. The Federal Reserve is firmly committed to bringing inflation down and will not be influenced by political factors. History cautions us against loosening our policies too soon.</p><p>Powell stressed that it is very important to maintain inflation expectations. The Fed's job is to make sure inflation expectations are anchored. Labor market demand remains very strong. Wage levels are rising. Hopefully there will be a period of slower-than-trend economic growth. Economic growth below trend levels will provide a better balance in the labor market. In recent labor market reports, an increase in the popular labor force participation rate has been seen.</p><p>On interest rates, Powell said the money supply-inflation relationship has been volatile. The Fed has never explicitly tied its policies to any particular formula. Not sure what the terminal rate is. Nominal income targets have been studied but do not think this is the right thing to do.</p><p>On shrinking balance sheet, he said that the current shrinking balance sheet operating framework is good, and that shrinking balance sheet is ready to be sized according to economic needs, and there is no reason to return to scarcity reserve levels. The two goals of the Fed are completely not in conflict. There's no reason to move to a single mission. Don't want the Fed's mandate to expand or narrow. The two main missions of the Federal Reserve can be achieved in the medium term. The independence of the Federal Reserve is good for the public.</p><p>Overnight index swaps show nearly 80% chance of a 75 basis point Fed rate hike in September; Futures for the three major U.S. stock indexes fell in the short term, with Nasdaq futures falling 0.74%.</p><p><img src=\"https://static.tigerbbs.com/811ceacf92cc009ba1c0ebf9ca4e013f\" tg-width=\"386\" tg-height=\"186\" referrerpolicy=\"no-referrer\"/></p><p>Analysts' Comments on Fed Chairman Powell's Speech: On the eve of the silent period, Powell did not provide any clues about whether the Fed's next rate hike action will be 50 basis points or 75 basis points. But after yesterday's Wall Street Journal article, interest rate markets have largely priced in 75 basis points of rate hike expectations. The fact that Powell did not object to the proposal suggests that there will almost certainly be another massive rate hike.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b37cbfdbd9fac06fc4ae2f84ad058a92","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141251181","content_text":"9月8日，美联储主席鲍威尔今日参加卡托研究所举办的有关货币政策的会议。美联储主席鲍威尔会上表示，如果没有新冠疫情，不会看到如此高的通胀率。鲍威尔还表示，美联储认为需要直截了当地对通胀采取行动，美联储需要现在就采取行动以避免通胀的社会成本。过往经验警告不要过早放松政策。鲍威尔表示，美联储需要现在采取行动以避免通胀的社会成本。美联储有责任并愿意承担稳定物价的责任。通胀高于目标的时间越长，风险越大。美联储坚决致力于降低通胀，不会受到政治因素的影响。历史告诫我们不要过早地放松政策。鲍威尔强调，能否维持通胀预期非常重要。美联储的工作是确保通胀预期得到锚定。劳动力市场需求仍然非常强劲。工资水平正在上升。希望有一段经济增长速度低于趋势的时期。经济增长低于趋势水平将给劳动力市场提供更好的平衡。在最近的劳动力市场报告中，看到了受欢迎的劳动力参与率的增加。在利率方面，鲍威尔表示货币供应和通胀关系一直不稳定。美联储从未明确将其政策与任何特定公式挂钩。不确定终端利率是多少。已经研究了名义收入目标，但不认为这是正确的做法。在缩表问题上，鲍威尔表示目前的缩表操作框架良好，准备根据经济需要调整缩表规模，没有理由回到稀缺储备金水平。美联储的两个目标完全不冲突。没有理由转向单一使命。不希望美联储使命范围扩大或缩小。可以在中期达成美联储的两大主要使命。美联储的独立性是对公众有利的。隔夜指数掉期显示，美联储9月加息75基点的可能性接近80％；美国三大股指期货短线跌跌，纳指期货跌0.74%.分析师评美联储主席鲍威尔讲话：在静默期前夕，鲍威尔没有提供任何关于美联储下一步加息行动是50个基点还是75个基点的线索。但在昨日《华尔街日报》的文章发表后，利率市场已基本消化了75个基点的加息预期。鲍威尔没有反对这一提议的事实表明，几乎可以肯定还会有一次大规模的加息。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3098,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}