Group 1 - The Nasdaq China Golden Dragon Index closed down by 0.11% on September 13, indicating a slight decline in the overall performance of Chinese concept stocks [1] - Popular Chinese concept stocks showed mixed results, with Bilibili rising over 4%, Weibo and Baidu increasing by more than 2%, while 36Kr fell over 10% and JD.com dropped more than 2% [1]

【导读】美联储9月降息几成定局，美国三大股指创历史新高，中概股整体大涨，国际油价大跌 中国基金报记者 郭玟君 大家早上好，昨夜今晨，又有很多大事发生。 美国三大股指创历史新高，中概股多数上涨。美国8月未季调CPI同比升2.9%，上周初请失业金人数飙升至近四年来的最高水平，美联储9月降息几成定 局。 美国三大股指创历史新高 美国三大股指全线收涨，均创历史新高。道指涨1.36%，报46108点；标普500指数涨0.85%，报6587.47点；纳指涨0.72%，报22043.07点。 | 8388.16 昨收 8152.50 成交额 0.00 +235.66 +2.89% 9997 999798888888 688 688 288 288 288 288 288 288 288 288 28 28 28 28 28 28 28 28 2 | 0 | | --- | --- | | 上涨 0 平盘 平盘 2 【 下跌 | 0 | | 最高价 8396.34 市盈率 20.4 | | | 最低价 8207.97 市净率 | | | 分时 五日 日K 周K 月K 更多 ◎ | | 叠加 8396.34 7908.66 - ...

周四（9月11日），美国三大股指全线收涨，道指涨1.36%，标普500指数涨0.85%，纳指涨0.72%，均创历史新高。 芯片股方面，费城半导体指数涨0.63%，刷新历史新高， 拉姆研究 涨超7%， 美光科技 涨逾7%， 应用材料 涨超4%。 中概股多数上涨，纳斯达克中国金龙指数涨2.89%，三倍做多富时中国ETF涨超7%，两倍做多沪深300ETF涨约7%。 消息面上，美国劳工统计局公布的数据显示，美国8月消费者价格指数（CPI）环比增长0.4%，经季节性调整前同比增长2.9%。当月，剔除波动较大的食 品和能源价格后，核心CPI环比增长0.3%，经季节性调整前同比增长3.1%。整体而言，美国8月CPI基本符合预期。 美国通胀上行压力仍存 尽管总体通胀数据与经济学家的预期相符，但在细节上能看到存在一些价格压力。 除了汽车维修和机票外，8月水果和蔬菜的价格环比上涨1.6%，汽车燃料价格上涨1.8%，烟草价格也上涨了1.0%。此外，8月家庭食品价格上涨0.6%，是 近三年来的最大涨幅，美国如今是一个食品净进口国，因此该品类可能受到了关税较大影响。 中泰证券（600918）研究所政策团队首席分析师杨畅对21世纪经济报 ...

Core Viewpoint - The article discusses the recent performance of the U.S. stock market, inflation data, and the implications for investment in Chinese assets, highlighting a potential shift in investor focus towards China due to favorable conditions. Group 1: U.S. Stock Market Performance - On September 11, the three major U.S. stock indices all closed higher, with the Dow Jones up 1.36%, the S&P 500 up 0.85%, and the Nasdaq up 0.72%, all reaching historical highs [1]. - Major tech stocks showed mixed results, with Tesla rising over 6% due to strong demand expectations, while other tech giants like Apple and Google saw modest gains [3][4]. Group 2: U.S. Inflation Data - The U.S. Consumer Price Index (CPI) for August increased by 0.4% month-on-month, with a year-on-year increase of 2.9% before seasonal adjustment. Core CPI, excluding volatile food and energy prices, rose by 0.3% month-on-month and 3.1% year-on-year [3]. - Specific price pressures were noted in various categories, including a 1.6% increase in fruit and vegetable prices and a 1.8% rise in automotive fuel prices, indicating ongoing inflationary pressures [3]. Group 3: Chinese Market Insights - The Nasdaq Golden Dragon China Index rose by 2.89%, with significant gains in Chinese stocks such as Alibaba, which increased by 8%, marking a nearly four-year high [5][7]. - Morgan Stanley reported that U.S. investors' interest in the Chinese market has reached its highest level since 2021, driven by a combination of external and internal factors [9]. - The article highlights that the recent rebound in Chinese assets is supported by a weaker dollar, a shift in Chinese policy towards stabilizing expectations and cash flows, and improved earnings from leading companies [10]. Group 4: Future Outlook for Chinese Assets - Analysts predict that the Nasdaq Golden Dragon China Index may enter a phase of "stepwise upward movement with high volatility," with potential to reach between 8500 and 9000 points, although frequent pullbacks are expected [10]. - The future performance of Chinese assets will depend on fundamental, macroeconomic, and microeconomic factors, including the sustainability of earnings from leading companies and ongoing capital market reforms [11].

Core Viewpoint - The Nasdaq China Golden Dragon Index rose over 2%, indicating a strong interest from U.S. investors in Chinese stocks, reaching the highest level in five years, as reported by Morgan Stanley [1] Group 1: Market Performance - Notable gains were observed in popular Chinese stocks, with Zai Lab (ZLAB.US) up over 12%, GDS Holdings (GDS.US) up over 8%, and both Hesai (HSAI.US) and Alibaba (BABA.US) rising over 4% [1] - The Shanghai Composite Index also experienced a significant increase of 1.65% on the same day [1] Group 2: Investor Sentiment - Morgan Stanley reported that over 90% of investors expressed a willingness to increase their exposure to the Chinese market, marking the highest level since the peak of the Chinese stock market in early 2021 [1] - The report highlighted several reasons for the resurgence of U.S. investor interest in China, including China's leadership in specific industries, efforts to boost the stock market and stabilize the economy, improved liquidity conditions, and a rising demand for diversified investments [1] Group 3: Foreign Investment Trends - The International Institute of Finance (IIF) reported that in August, foreign investors allocated nearly $45 billion to emerging market stocks and bonds, the highest level in nearly a year [1] - A significant portion of this investment flowed into the Chinese market, with a net inflow of $39 billion into Chinese bonds and stocks combined in August [1]

该行还指出了美国投资者对中国市场兴趣回升的原因，包括中国在特定行业的领导地位、中国提振股市 和稳定经济的努力、流动性状况的改善，以及投资者多元化投资需求的上升。 智通财经APP获悉，周四，纳斯达克中国金龙指数涨超2%，热门中概股大涨，再鼎医药(ZLAB.US)涨超 12%，万国数据(GDS.US)涨超8%，禾赛(HSAI.US)、金山云(KC.US)、阿里巴巴(BABA.US)涨超4%。此 外，日内沪指也大涨1.65%。消息面上，摩根士丹利周四表示，美国投资者对中国股票的兴趣正达到五 年来的最高水平，他们重返中国市场的步伐才刚刚"开始"。大摩在一份报告中表示，超过90%的投资 者"明确表示愿意增加对中国市场的敞口，这是自2021年初中国股市见顶以来的最高水平"。这是外资对 中国市场热情高涨的最新证据。 此外，国际金融协会(IIF)最新发布的报告显示，8月份外国投资者向新兴市场股票和债券投资组合投入 近450亿美元，创下近一年来的最高规模。其中，流入中国市场投资组合的资金占据了大头，8月中国债 券和股票合计净流入390亿美元。 ...

Core Viewpoint - The company Muddy Waters, consisting of only six individuals, has become a nightmare for numerous Chinese concept stocks, including Luckin Coffee, Anta, New Oriental, and iQIYI, which have all faced significant challenges due to its activities [1] Group 1 - The founder, Carson Block, originally a law professional, faced personal and financial struggles before achieving success by exposing financial fraud in a U.S.-listed Chinese company, leading to a rapid financial turnaround [1]

Core Viewpoint - Nasdaq's proposed rule changes are expected to significantly impact Chinese companies seeking to list in the U.S. by raising listing requirements and enhancing regulatory scrutiny [1][3][4] Group 1: Rule Changes - The public float market capitalization threshold for new companies listing based on net income will increase from $5 million to $15 million [1] - Companies with a market capitalization below $5 million and compliance issues will face accelerated suspension and delisting procedures [1] - A minimum fundraising requirement of $25 million will be set for companies primarily operating in China [1] Group 2: Investor Protection and Market Integrity - Nasdaq's Chief Legal Officer emphasized that the rule adjustments aim to strengthen investor protection mechanisms and maintain market fairness [3] - The changes are a response to recent abnormal price fluctuations in cross-market trading, particularly concerning alleged stock price manipulation by emerging market entities [3] Group 3: Impact on Chinese Companies - The new rules will directly affect three types of companies: those needing to attract more institutional investors due to the increased public float requirement, those facing heightened delisting risks due to lower market caps, and those potentially excluded from the U.S. market due to the new fundraising threshold [6] - Since the Luckin Coffee scandal in 2020, 128 Chinese companies have been placed on a "pre-delisting" list, with many facing delisting pressure if their market cap remains below $100 million [6] Group 4: Strategic Responses - Chinese companies are adopting diverse strategies in response to the changing regulatory environment, including multi-market listings to mitigate regulatory risks and maintain international presence [6] - Some companies are considering SPAC mergers for quicker listings, although this may lead to significant post-merger stock price volatility [6] - Extending the Pre-IPO financing cycle and building a multi-tiered capital structure are also being explored, despite potential issues like equity dilution [6]

格隆汇9月5日｜美股三大指数集体收涨，道琼斯指数涨0.77%，标普500指数涨0.83%创收盘新高，纳斯 达克综合指数涨0.98%。芯片股走强，西部数据涨超5%，美光科技涨超4%。大型科技股走强，亚马逊 涨超4%，创5月份以来最大涨幅。 热门中概股多数下跌，纳斯达克中国金龙指数收跌1.11%。阿里巴巴跌超4%，蔚来跌超3%，小鹏汽车 跌超2%。 ...

关注美股市场情况。 当地时间9月4日，美股三大指数开盘涨跌不一，盘中一度集体转跌。截至发稿，道指涨0.24%，纳指涨 0.24%，标普500指数涨0.27%。 目前，市场目光转向将于周五发布的美国8月非农数据。根据经济学家的预测，8月份的官方就业报告预计 将显示非农就业人数增加75000人，失业率则可能小幅上升。这份报告的表现，将成为美联储做出利率决 定的关键参考。 | 个股方面，美股科技七巨头中，亚马逊涨超3%，脸书涨近2%。 | | --- | | ਮਿਲ | 名称 | 现价 | 涨跌 | 涨跌幅 ▼ | 年初至今 | | --- | --- | --- | --- | --- | --- | | AMZN | TF马逊(AMAZON) | 233.360 | 7.370 | 3.26% | 6.37% | | META | 脸书(META PLATFORMS) | 750.485 | 13.435 | 1.82% | 28.39% | | MSFT | 微软(MICROSOFT) | 506.194 | 0.844 | 0.17% | 20.75% | | NVDA | 英伟达(NVIDIA) | 17 ...