Mei Ri Jing Ji Xin Wen·2025-06-05 22:07Market Overview - US stock markets experienced a collective decline, with the Dow Jones down 0.25%, Nasdaq down 0.83%, and S&P 500 down 0.53%. Notably, Tesla's stock plummeted 14.26%, resulting in a market value loss exceeding $152.5 billion (approximately ¥1.09 trillion) [2] - International oil prices saw an increase, with WTI crude oil rising 0.64% to $63.25 per barrel and Brent crude oil up 0.66% to $65.29 per barrel [3] - European stock indices showed mixed results, with Germany's DAX up 0.19%, France's CAC40 down 0.18%, and the UK's FTSE 100 up 0.11% [5] Corporate Developments - Circle, a major player in the stablecoin market, saw its stock surge 168.48% on its first day of trading, closing at $83.23, with a market capitalization exceeding $18 billion [15] - Huawei announced the launch of its Pura 80 series smartphones, which have garnered significant consumer interest, with over 40,000 reservations within hours of opening [16][17] - Canada Goose appointed Celine Xie as the new president for its China operations, aiming to enhance its market presence in the region [22][23] Regulatory and Policy Updates - The Chinese Ministry of Commerce criticized the US for raising tariffs on steel and aluminum products from 25% to 50%, labeling it as unilateralism and protectionism [8] - The Chinese government announced plans to conduct the fourth national agricultural census in 2026, as part of its statistical and agricultural development efforts [7] Industry Insights - The Chinese government is establishing ten national data element comprehensive pilot zones to promote the integration of the real economy and digital economy [8] - The National Medical Insurance Administration is revising the credit evaluation system for drug pricing and procurement to combat corruption and improve market integrity [10] Stock Market Movements - Notable stock movements included a significant drop in Tesla's stock price, while several Chinese concept stocks saw gains, with the Nasdaq China Golden Dragon Index up 0.54% [2][29] - The latest data showed that the Chinese yuan's exchange rate against the US dollar was 7.1865, reflecting a decrease of 21 basis points [31]