News

JPMorgan Chase: Raised its target price on Duke Energy to $141 from $136.

Japanese Finance Minister Katayama Satsuki: We cannot intervene or force pension funds to carry out portfolio management.

Japanese Finance Minister Katayama Satsuki: The Japanese Government Pension Investment Fund (GPIF) will evaluate its underlying investment portfolio every year; the assumptions based on the evaluation take into account potential growth prospects, and Japan's growth strategy may bring about a major turning point.

BlackRock's assets under management exceeded US$15 trillion for the first time, with net inflows of US$192 billion in the second quarter and a record inflow of US$321 billion in the first half of the year, of which ETFs attracted US$178 billion. According to the latest global asset management rankings, BlackRock ranks first, followed by Vanguard, Fidelity, State Street and JPMorgan Chase, and industry funds continue to concentrate at the top. The reason why scale expansion is accelerating is that first of all, the rising market will automatically push up the AUM and fee base, but the cost will not increase year-on-year; secondly, the larger the ETF scale, The more obvious the liquidity and fee advantages are, the easier it is to enter the pension, investment advisory and institutional allocation systems. At the same time, BlackRock is extending its reach into infrastructure, private credit and data services through mergers and acquisitions, absorbing funds with low-cost ETFs, and then using high-cost alternative assets and technology platforms to increase profits. Scale is therefore not just a result, but will in turn enhance cost, channel and M&A advantages.

Japanese Finance Minister Katayama Satsuki: I was informed that the GPIF’s rules for reviewing its basic investment portfolio every year have not changed.

Japanese Finance Minister Katayama Satsuki: It is crucial to expand the scope of domestic and foreign investors, including households, to hold Japanese government bonds (JGB).

Analyst NAVELLIER believes that the current short-term trend of popular technology stocks is no longer entirely determined by performance and fundamentals, and a large number of short-term options are also affecting stock prices in turn. Options were originally just a tool for betting on the rise or fall of stocks, but as the scale of short-term options expands, the buying and selling operations conducted by market makers to control risks may also become an important force in promoting or suppressing stock prices. : After a market maker sells a large number of call options on stocks such as Nvidia, if the stock price rises rapidly and breaks through the execution price, the market maker may face greater hedging and compensation pressure. Therefore, in his view, Relevant institutions will use algorithms and hedging transactions to suppress the rise in stock prices, allowing prices to return to the recent average range after rising. This is the so-called "mean return." This means that even if the company's performance is still strong, the stock price may rise and fall or trade sideways at a high level in the short term. Especially outside the earnings season, when there is a lack of new performance data to provide direction for the market, the impact of zero-day options, option expiration and algorithmic trading on intraday prices may be more obvious. (It should be noted that this is NAVELLIER’s explanation of the market structure, and it does not mean that option concentration will definitely suppress the stock price.)

Japanese Finance Minister Katayama Satsuki: Specific monetary policy measures are determined by the Bank of Japan.

The New York Times filed a motion on Wednesday to quash a subpoena issued by the U.S. Department of Justice to its reporters. These reporters had reported on the security risks caused by the new "Air Force One" special plane donated by Qatar.

Kawasaki Heavy Industries: Working with NVIDIA to build the next generation of digital shipyards.

Kawasaki Heavy Industries: Announced cooperation with Nvidia.

Japanese Finance Minister Katayama Satsuki: Market dynamics and economic indicators will be monitored to achieve fiscal sustainability.

Hong Kong auto stocks continued to strengthen. Xpeng Group (09868.HK) rose nearly 6%, Lantu Automobile (07489.HK) rose nearly 5%, Li Auto (02015.HK), Leapmotor (09863.HK) followed suit.

Japanese Finance Minister Katayama Satsuki: Will not comment on specific foreign exchange levels.

Japanese Finance Minister Katayama Satsuki: Interest rates and foreign exchange rates are affected by many factors.

Stripe and Advent offered to acquire PayPal for more than $53 billion, which is a very good deal. PayPal does face many challenges at present: its core "Branded Checkout" business market share continues to be eroded by new competitors such as Apple Pay and Google Pay; at the same time, the company has never been able to effectively convert the huge user base of its peer-to-peer payment application Venmo into considerable profits. But the reason why competition in the payment and checkout field is intensifying is because It just shows that this market is very profitable. Even after experiencing recent operating difficulties, PayPal still achieved free cash flow of $5.6 billion last year and had net debt of only $2 billion, making it still very attractive to financial investors. According to previous reports, Advent and Stripe have secured US$50 billion in bank financing for this transaction, which means that the two companies only need to invest approximately US$5 billion in equity capital and can recoup this investment in less than two years. According to calculations, even if the current debt scale remains unchanged, the two buyers can theoretically increase their offer to more than US$70 billion. All while still achieving an internal rate of return in the mid-double digits, before taking into account potential gains from any operational improvements. (Financial Times)

Mitsubishi Heavy Industries: Joined the NVIDIA Partner Network and became a power and cooling partner to promote the integrated power and cooling technology of NVIDIA DSX.

The new consumption concept of Hong Kong stocks has strengthened, with Brook (00325.HK) rising by more than 7%, Bubble Mart (09992.HK) rising by more than 4%, Miniso (09896.HK), Gu Ming (01364.HK), etc. following suit.

The Hang Seng Technology Index continued to strengthen and rose by more than 2%. Among the constituent stocks, Alibaba (09988.HK) rose by more than 5%, leading the gains of constituent stocks. The Hang Seng Index is now up 1.77%.

According to the European and Mediterranean Seismological Center, at 10:57 local time on July 16, a magnitude 5.8 earthquake occurred in the sea 962 kilometers south-southeast of Suva, Fiji, with a focal depth of 340 kilometers and an epicenter located at 26.366 degrees south latitude and 178.694 degrees west longitude.