农银国际证券：每天导读-20241028

Core Insights - The report highlights a mixed performance in global stock markets, with the US indices showing varied results ahead of major corporate earnings announcements, while the Hang Seng Index and the National Index both experienced declines due to falling tech stocks and the depreciation of the Renminbi against the US dollar [5][7]. Market Performance Summary - The Hang Seng Index closed at 20,478.46, down 1.57% for the day and 2.91% over the past five days [1]. - The H-share index closed at 7,340.56, reflecting a daily drop of 1.76% and a five-day decline of 3.16% [1]. - The National Index saw a significant drop, primarily influenced by the decline in major tech stocks [5]. - The Shanghai Composite Index and Shenzhen Component Index both increased, with the Shenzhen Component showing a larger gain [5]. Economic Indicators - The report notes that the US Leading Economic Index for September decreased by 0.5%, while Germany's PPI year-on-year fell by 1.4% [5]. - In China, the one-year and five-year Loan Prime Rates (LPR) were reduced to 3.10% and 3.60%, respectively, indicating a push to lower borrowing costs for businesses and the real estate sector [5][7]. International Economic News - The International Energy Agency reported a continued weakness in global oil demand growth due to the slowdown in China and the rapid adoption of electric vehicles [7]. - Vietnam's Prime Minister projected the country's economic growth to be between 6.5% and 7% in 2025, with a target inflation rate of around 4.5% [7]. Corporate Developments - MetLife is reportedly in talks to acquire assets outside of China from Prudential, with a potential valuation between $1 billion and $1.5 billion [7]. - Qualcomm has launched a new smartphone chip designed to enhance performance to laptop levels, incorporating its self-developed Oryon processor [7]. - Syngenta is seeking a $3 billion ESG-linked loan, which would be the largest of its kind in Asia this year [7].