农银国际证券：每天导读-20241029

Core Insights - The report highlights that the Chinese economy may have reached its bottom, but recovery still requires support from stimulus measures [16][17] - The U.S. fiscal year 2024 budget deficit has surpassed $1.8 trillion, marking the third-highest deficit in history, driven by rising debt interest costs and increased spending on social security and defense [8][9] - The report notes that major economic indicators from China for Q3 and September exceeded expectations, contributing to a rise in Hong Kong stocks [6] Economic Data Summary - China's Q3 GDP: Year-on-year growth of 4.6%, slightly above the expected 4.5% [16] - China's Industrial Output: Year-on-year increase of 5.4% in September, surpassing the expected 4.6% [6] - China's Retail Sales: Year-on-year growth of 3.2% in September, exceeding the expected 2.5% [6] Company-Specific Insights - Boeing: Proposed a 35% salary increase to end a prolonged strike, with a vote scheduled for October 23 [25] - Netflix: Achieved record stock prices with over 5 million new users in Q3, and revenue growth of 15% to $9.83 billion [25] - CATL: Reported a net profit of 13.1 billion RMB ($1.8 billion) for Q3, which was below market expectations of 14.7 billion RMB [25] Market Performance Overview - U.S. Markets: All three major U.S. indices rose last Friday, with the Nasdaq showing the largest increase [6] - Chinese Markets: The Hang Seng Index and the National Index both saw significant gains, driven by positive macroeconomic data [6] - Sector Performance: The technology sector led gains in the CSI 300 index, with all industry indices rising [6]