你敢信嗎？ 決定特斯拉 在加拿大 生死的 竟然是 豬肉！ 你沒聽錯 加拿大之前 不是對中國電車 搞了個 100% 的懲罰性 關稅嗎？ 結果 中國反手就 制裁了他們的 芥花籽和豬肉 這下可炸鍋了！ 西邊的農民 快活不下去了 直接跟政府攤牌 我們的豬肉 賣不出去 你們必須 取消電車關稅！ 但東邊的 汽車工人也炸了 我們剛拿了 幾十億補貼 蓋電池廠 你敢放 中國車進來？ 你看 一場 「豬肉換電車」 的荒謬大戲 就這麼開演了 那這跟特斯拉 有什麼關係？ 關係太大了！ 一旦農民贏了 100% 關稅取消 那意味著什麼？ 意味著特斯拉 上海超級工廠 可以立刻 滿血復活！ 直接供应 加拿大市场 成本瞬間下降！ 利潤直接起飛！ 這簡直是天上 掉下來的禮物 所以你猜 這場農夫和 汽車工人的戰爭 最後誰會贏？. ...

Market Performance - Tesla Model Y dominated the Turkish electric vehicle market with 8,730 units sold in one month, accounting for nearly 50% of the market share [1] - In India, Tesla sold only 600 units in one and a half months [1] - The number of Tesla sales in India (600 units in one and a half months) is equivalent to Tesla's global average sales every three hours [1] Policy and Taxation - Turkey adopted a very low tax rate, opening the door for Tesla [1] - India imposed a 100% tariff, increasing the price of a $40,000 car to $70,000 [1] - The Indian government requires Tesla to build a factory in India before entering the market [1]

Core Insights - The report highlights a stabilization in the US stock market, with investors taking advantage of lower prices, leading to a recovery in major indices [9][11] - The focus of the market has shifted towards corporate earnings and trade agreements, indicating a potential for future growth [9][11] - The report notes a significant outflow of capital from Hong Kong stocks, with net outflows reaching HKD 18.09 billion, the highest since May 12 [9][11] Market Overview - The Hang Seng Index closed at 24,733.45, up 225.64 points or 0.92%, while the Hang Seng Tech Index rose by 1.55% [15][17] - The Dow Jones Industrial Average increased by 585.06 points or 1.34%, recovering losses from previous weeks [11][15] - Notable stock performances included Tesla and Microsoft, both rising by 2.2%, while Amazon saw a decline of 1.4% [11][15] Economic Data - US factory orders decreased by 4.8% in June, marking the largest drop since 2020, aligning with expectations [11] - The report anticipates upcoming economic data releases, including the Purchasing Managers' Index for Hong Kong and China, and the Producer Price Index for the Eurozone [21] Company Recommendations - The report recommends buying shares of WuXi AppTec (2126), a leader in CAR-T cell therapy in China, with a target price of HKD 6.44 [22] - It also highlights The Southern Company (SO) for its stable cash flow and projected growth in electricity demand, making it a strong investment choice [24] - The Allstate Corporation (ALL) reported a revenue increase of 5.85% to USD 16.633 billion, with earnings per share rising significantly, indicating strong performance [25]

Market Overview - The Hang Seng Index is facing resistance at 24,700 points, with a projected P/E ratio of 11 times over the next 12 months [2] - The recent US-China trade talks have led to a temporary reduction in tariffs, but further progress remains uncertain, impacting corporate earnings and capital inflow [2][4] - The Hang Seng Index closed at 23,892 points, down 1.06% year-to-date, while the Hang Seng Tech Index fell by 1.76% [6] Economic Indicators - The US Federal Reserve maintained interest rates, with expectations of two rate cuts totaling 0.5% this year, reflecting cautious optimism about inflation [5][8] - China's June CPI unexpectedly rose by 0.1%, ending four months of deflation, while PPI fell by 3.6%, the largest drop in two years [9] - The National Development and Reform Commission estimates China's economy could reach 140 trillion yuan this year, emphasizing the importance of innovation in economic growth [9] Corporate News - New World Development is reportedly seeking to sell its K11 properties in Hangzhou and Shenzhen, aiming to attract investment from private firms [10] - Longfor Group's debt restructuring plan has been approved by creditors, allowing for adjustments in repayment arrangements [11] - BYD has achieved significant advancements in smart parking technology, promising comprehensive safety coverage for users [10] Sector Focus - Macau's June gaming revenue exceeded expectations, indicating a strong recovery as the summer peak season approaches [7] - The online music sector faces intensified competition, prompting a potential shift of funds towards more visible tech stocks [7] - The global PC shipment volume increased by 6.5% year-on-year in Q2 2025, with Lenovo leading the market share at 24.8% [9]

Trade & Tariff Implications - A 25% tariff on iPhones threatened by Trump could be a short-term positive for Apple if it allows the company to delay implementation through appeasement [1] Geopolitical Strategy - The potential tariff threat is linked to Tim Cook's decision not to accompany Trump to the Middle East, suggesting a possible link between political relations and trade policy [1]

Government & Trade Policy Impact - The industry views Trump's recent targeted remarks towards Apple, regardless of the specific iPhone tariff amount, as a significant signal that cannot be ignored [1] - The primary focus for Apple is negotiating with Trump to avoid or delay the imposition or further increase of iPhone tariffs [2] - Apple might consider altering its DEI (Diversity, Equity, and Inclusion) policies as a bargaining chip to secure a temporary reprieve from Trump's actions [2] - Relocating all iPhone assembly lines for US models back to the United States before Trump leaves office is deemed unrealistic [3] - Trump's opposition to Apple manufacturing iPhone US models in India adds complexity, suggesting Apple may face intermittent tariff threats even with a temporary agreement [3] Financial Implications - For Apple, bearing a 25% tariff on iPhones sold in the US market is considered more favorable than moving iPhone assembly lines back to the US [3]