Market Insights: March 5th, 2024

Company Performance and Foreign exchange market maker transaction volume rankingMarket Dynamics:

• ByteDance's Performance Disclosure: ByteDance's performance for the third quarter of 2023 showed a significant revenue increase of 43%, reaching 30.9 billion USD. This growth is primarily attributed to accelerated growth in the advertising and e-commerce sectors, achieving twice the growth rate of Meta, Facebook's parent company.
• IBIT's IPO Success: IBIT's market value exceeded ten billion USD within just seven weeks of listing, setting a record for the fastest achievement in history. This accomplishment attracted huge investments in the Bitcoin ETF sector.
• Apple Faces EU Fine: The EU issued an 1.8 billion USD fine against Apple, which Apple has refused to pay. The fine originated from a complaint by Swedish music streaming company Spotify, which accused Apple's App Store 30% commission of unfair competition.
• Nuclear Revival and Uranium ETF Performance: The performance of uranium ETFs far exceeded the S&P 500 index, with the global leading uranium ETF, URNM, seeing a 49% increase, and uranium mining company stocks also outperforming the broader market.
• NVIDIA's Market Cap Breakthrough: NVIDIA's market cap reached 2.13 trillion USD, becoming the world's third largest publicly traded company by market value, behind only Microsoft and Apple.

Financial Market Dynamics:

• Bitcoin and Gold Price Trends: Bitcoin price broke through 68,000 USD, reaching a new high since November 2021, while gold price also stood above 2100 USD for the first time, just a step away from its all-time intraday high set last December.
• Shanghai and Shenzhen Stock Exchanges Strengthen Regulation: The Shanghai and Shenzhen Stock Exchanges announced that 28 leading quantitative private equity institutions have participated in compliance training and will accelerate the establishment of a comprehensive regulatory arrangement for quantitative trading to standardize behaviors.
• COMEX Gold Futures Closing Price: COMEX April gold futures rose 1.31% on Monday, closing at 2123 USD per ounce, with an intraday high of 2128.4 USD, and for the first time closing above 2100 USD.

National Economic Policies and Outlook:

• China's Economic Growth Target: Chinese Premier Li Qiang set the GDP growth target for 2024 at about 5%, emphasizing that policy efforts need to be focused and collaborative to achieve this goal.

Global Economy and Market Conditions:

• Hong Kong's Purchase Manager Index Decline: Data released by S&P Global shows that Hong Kong's Purchase Manager Index (PMI), after seasonal adjustment, fell to 49.7 in February, staying below 50 for two consecutive months, indicating a contraction level that reflects a worsening business environment.
• Morgan Stanley's View on AI Investment: Morgan Stanley believes that as the compute cycle enters its second phase, AI data centers will trigger a new wave of investment, focusing on the infrastructure of AI data centers.

Company Internal Dynamics:

• Country Garden's Liquidation Consideration: Country Garden is considering liquidation, but it is yet to determine whether to apply to the Hong Kong High Court for a recognition order. If liquidation is ultimately confirmed, any share transfers made after the commencement date will be deemed invalid.

Risk Warning and Disclaimer

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

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