<p>Good morning! A great day starts with making money.</p><h3>Overnight Morning Market</h3><p>Yesterday, the Hang Seng Index in Hong Kong rose by 1.17% to 18,827.35 points, ending a four-day losing streak; the Hang Seng TECH Index rose by 1.71%, and the Hang Seng China Enterprises Index rose by 1.25%. Technology, raw materials, and consumer stocks were strong, with Evergrande Auto resuming trading and rising by nearly 87%. The market turnover was HKD 118.858 billion.</p><h3>Blue Chips and Hot Stocks</h3><p>Amazon is in talks with Italy to invest billions of euros in cloud projects.</p><p>Meta has added security features to its analytics tool CrowdTangle, aiming to address concerns in the European Union.</p><p>Market news: Despite disputes, Stellantis (STLA.N) will manufacture two new hybrid cars in Italy.</p><p>China Vanke successfully transferred a land parcel at its Shenzhen Bay headquarters for RMB 2.235 billion, with major shareholder Shenzhen Metro Group taking over.</p><p>Tianqi Lithium seeks clarification from Chile's securities regulator CMF on whether its proposed partnership with Chile's Codelco and SQM should be submitted to shareholders for discussion/voting.</p><p>Yahua Group: Updated resource estimate for the Kamativi lithium mine in Zimbabwe, with lithium carbonate equivalent increasing to 750,944 tons.</p><p>Porsche China issues a joint statement with all dealers: will jointly address market changes, discussing various aspects including but not limited to business policies, local customer insights, customer service, and electrification transformation.</p><h3>Chips and Artificial Intelligence</h3><p>According to Nikkei Asia, Micron Technology will build a new DRAM chip factory in Guangxi.</p><p>Market news: Nokia will supply 5G radio equipment to MEO in Portugal.</p><p>BlackRock increased its stake in ZTE Corporation's H shares from 6.77% to 7.43% on May 22.</p><h3>Cryptocurrency</h3><p>JPMorgan: Skeptical about the US approving more cryptocurrency ETFs. Given the ambiguity of whether Ethereum should be classified as a security, the SEC's approval of a spot Ethereum ETF is no longer easy. The SEC may not further approve Solana or other token ETFs, as it believes tokens other than Bitcoin and Ethereum should be classified as securities. Unless US policymakers legislate to clarify that most cryptocurrencies are not securities, the outlook for new cryptocurrency ETFs remains bleak.</p><h3>Startups</h3><p>SpaceX: Cancels Falcon 9 rocket launch attempt on the 27th, now targeting May 28 for liftoff.</p><p><strong>xAI Completes $6 Billion Financing, May Build Supercomputing Factory</strong></p><p>Elon Musk's xAI announced a $6 billion financing, one of the largest venture capital financings since its inception, with a valuation of $24 billion. Reports suggest that xAI plans to build a large new type of supercomputer - the &#34;supercomputing factory&#34; - possibly in collaboration with Oracle.</p><h3>Macro: Taking You Around the World</h3><p>US stock trading settlement time shortened to &#34;T+1&#34;, effective May 28. On the third trading day after the new standard takes effect, major stock indices in the MSCI global range will undergo quarterly adjustments. Some investors believe that one of the most impactful trading days this year may bring pressure to the stock and bond trading markets adapting to the new mechanismAccording to media data, the median year-end target price for the S&amp;P 500 on Wall Street has been raised from 4850 points at the end of last year to 5250 points, with the highest target price also raised from 5200 points at the beginning of the year to 5600 points.</p><p>According to a report from the bulk trading department of Goldman Sachs, in the week ending on May 24th, hedge funds have been selling US stocks at an unusually high rate since the beginning of January, reversing the trend of net buying for the previous five weeks. Individual stocks have seen net selling for three consecutive weeks, marking the largest nominal net outflow so far this year.</p><p>The European Union is considering amending special antitrust rules for car sales. Consultation feedback is expected to be announced by the end of 2024.</p><p>The Joint Declaration of the Ninth China-Japan-South Korea Leaders' Meeting: The importance of cooperation in the field of technology such as artificial intelligence is becoming increasingly prominent, strengthening supply chain cooperation, and avoiding supply chain disruptions.</p><p><strong>Record Pre-Holiday Air Passenger Traffic in the United States</strong></p><p>The Transportation Security Administration in the United States reported that the number of air passengers screened at US airports broke records before the &#34;Memorial Day&#34; weekend. Last Friday, over 2.9 million passengers were screened at US airports, surpassing the record set on the Sunday after Thanksgiving last year. In addition, US airlines expect passenger traffic this summer to reach historic highs.</p><p>The State Bank of Vietnam will stop gold auctions.</p><p>The Political Bureau of the Communist Party of China Central Committee held a meeting to formulate and promulgate the &#34;Regulations on Accountability for Preventing and Resolving Financial Risks (Trial)&#34;.</p><p>The six major banks in mainland China plan to contribute a total of 114 billion yuan to the National Social Security Fund Phase III: ICBC, ABC, BOC, and CCB will each contribute 21.5 billion yuan, Bank of Communications will contribute 20 billion yuan, and Postal Savings Bank of China will contribute 8 billion yuan.</p><p>Shanghai: For the first home purchase, the down payment is 20%, the years of non-Shanghai social security are shortened, families with two or more children can purchase an additional property, and the maximum loan amount for the first home using personal housing provident fund is adjusted to 800,000 yuan. Exploring the optimization of housing supply through state-owned platform companies and other entities by acquiring and leasing suitable properties. For non-Shanghai single individuals purchasing homes, the area is expanded to second-hand homes within the outer ring road. The lower limit of the interest rate for commercial personal housing loans for the first home is adjusted to not less than 45 basis points below the LPR</p>

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Breakfast | US stocks usher in a historic moment, Goldman Sachs says hedge funds selling US stocks on the largest scale since January