农银国际证券：每天导读-20240912

Market Overview - The US stock market saw all three major indices rise, with the Nasdaq showing the largest increase, driven by inflation data meeting expectations and easing interest rate concerns [5][8] - In Hong Kong, the Hang Seng Index experienced mixed results, with only the Hang Seng Tech Index slightly up, while the energy sector led declines [5] - The A-share market also showed mixed performance, with the ChiNext Index gaining the most, while the utilities sector lagged [5] Economic Indicators - The US August CPI month-on-month was reported at 0.2%, matching expectations, while the core CPI also met expectations at 0.3% [5][8] - Year-on-year, the US CPI was reported at 2.5%, down from 2.9% previously, indicating a cooling inflation trend [5] - The European Central Bank is expected to lower the key deposit rate by 25 basis points, with other rates potentially reduced by 60 basis points [10][11] Company-Specific Insights - Nvidia's CEO highlighted supply constraints for their popular Blackwell chips, causing tension with clients due to high demand [25][26] - OpenAI is reportedly negotiating to raise $6.5 billion at a valuation of $150 billion, significantly higher than its previous valuation [27][28] - Samsung Electronics plans to cut overseas staff by up to 30% across various regions, affecting sales and marketing roles [29][30] Regulatory Developments - The Chinese government is enhancing insurance industry regulations to prevent risks, aiming for a high-quality development framework by 2029 [18][19] - Spain's Prime Minister called for a reconsideration of high tariffs on Chinese electric vehicles, indicating a potential shift in trade policy [16][17] Investment Sentiment - European companies are adopting a more conservative approach to investing in China, reflecting a shift in sentiment due to trade tensions [22][23] - The report indicates a need for new counter-cyclical measures in China to stimulate domestic demand amid economic uncertainties [20][21]