农银国际证券：每天导读-20241011

Core Insights - The report highlights a significant decline in major stock indices, with the Hang Seng Index dropping by 1.38% and the H-share index falling by 1.58% on the day, reflecting a broader market downturn [1] - The report notes that the U.S. stock market indices showed an upward trend, particularly the S&P 500, as investors expressed optimism ahead of the upcoming U.S. inflation data [3] - The report indicates that the Chinese economy is facing challenges, with expectations of a contraction in GDP for 2024, as the German government also revised its GDP forecast downwards [9][10] Market Performance - The Hang Seng Index closed at 20,637.24, down 1.38% for the day and 8.05% over the past five days [1] - The H-share index ended at 7,365.59, reflecting a daily decline of 1.58% and a five-day drop of 8.40% [1] - The Shanghai Composite Index and other A-share indices also experienced declines, with the CSI 300 index down 7.05% for the day [1][3] Economic Indicators - The report mentions that the U.S. weekly MBA mortgage application index fell by 5.1%, indicating a slowdown in mortgage activity [5] - Japan's Producer Price Index (PPI) showed a year-on-year increase of 2.3%, slightly below market expectations [5] - The report highlights that the Chinese central bank is considering issuing special government bonds to stimulate the economy, as suggested by economist Lian Ping [15][16] Corporate News - Tesla achieved a record high in quarterly deliveries in China, with wholesale sales of Model 3 and Model Y reaching 88,321 units in September, a 19% year-on-year increase [24] - Guotai Junan plans to raise up to 10 billion RMB to support its merger with Haitong Securities, with trading of both companies' shares resuming [24] - Boeing's negotiations with its largest union have broken down again, leading to extended production halts at its key manufacturing site [24]