Breakfast | ARK increases its holdings in Tesla against the market, Alibaba's subsidiary Ele.me denies rumors of "acquisition talks with ByteDance"

Good morning! A wonderful day starts with making money.

The New York Stock Exchange is closed for Martin Luther King Jr. Day.

Market: Overnight and this morning

This morning, Bitcoin fell below $42,000 per coin, a decrease of 2.24% during the day.

Last Friday, the three major US stock indices closed with mixed results. The Dow Jones Industrial Average fell 0.31%, the S&P 500 Index rose 0.08%, and the Nasdaq Composite Index rose 0.02%. Facebook rose 1.3%, while Tesla fell 3.67%. Chinese concept stocks generally declined, with Ganfeng Lithium falling 8.92% and Baidu falling 7%.

Last week, the Dow Jones Industrial Average rose 0.34%, the S&P 500 Index rose 1.84%, and the Nasdaq Composite Index rose 3.09%. The Hang Seng Index in Hong Kong fell 1.76%, and the Hang Seng Tech Index fell 3.39%.

What happened to blue-chip stocks and hot stocks

• Apple is closing its AI team in San Diego.
• Meta is facing a collective lawsuit for using the "Books3" dataset, which contains a large number of pirated books, to train its AI. Although Meta admits to using the Books3 dataset, it refuses to provide appropriate compensation to the authors.
• ARK Invest's Cathie Wood increased her holdings in Tesla against the market trend. On January 11th and 12th, ARK Innovation ETF (ARKK), the flagship fund under Cathie Wood, bought 94,733 and 93,654 shares of Tesla stock respectively, accumulating nearly 190,000 shares.
• Hertz plans to sell one-third of its electric vehicle business in the United States. The company will reinvest in fuel vehicles due to the low demand and high maintenance costs of electric vehicle rentals.
• Ele.me denies rumors of being acquired by ByteDance. Media reports citing multiple sources indicate that ByteDance has been in contact with Alibaba to acquire Ele.me. The acquisition is still in the negotiation process and there is no final result yet. Ele.me firmly denies the rumors and states that "it is completely untrue and purely a rumor."
• King of Glory Douyin live streaming will be fully open from January 21st.
• Douyu responds to internal organizational structure changes, stating that it is a normal personnel adjustment.
• Media: BYD is discussing potential transactions with a lithium producer in Brazil to establish an integrated supply chain. Alexandre Baldy, Chairman of BYD in South America, stated that discussions have been held with Sigma Lithium, a Brazilian lithium producer valued at $2.9 billion, regarding supply agreements, joint ventures, or acquisitions. As part of a $300 million investment, BYD is building its first electric vehicle factory outside of Asia in Brazil.
• Panasonic Industrial admits to decades of data falsification.

Macro: Taking you around the world

• Federal Reserve's Bostic: US inflation progress may slow down; believes that interest rates need to remain unchanged at least until summer.
• Media: US congressional leaders have reached an agreement on a temporary funding bill to maintain federal government funding operations until March.
• The 54th World Economic Forum Annual Meeting is being held in Davos today with the theme "Rebuilding Trust" until January 19th. Hong Kong Financial Secretary Paul Chan: Hong Kong's capital is still in a "net inflow" state

Paul Chan stated that in the face of a high-interest environment and multiple external unfavorable factors, Hong Kong's asset market has been under pressure in the past year. However, it is also true that investment opportunities have become more attractive, and many funds are actively seeking investment opportunities. Last year, approximately HKD 250 billion of funds flowed into the Hong Kong stock market through the "southbound trading" channel, and the overall capital flow remained in a "net inflow" state.

China's Ministry of Commerce: Studying and preparing new trade policy measures, and will promote them in a timely manner; stabilizing and expanding traditional consumption, and planning more incremental policies.

Mainland China's MLF sees the first operation of the year, with enhanced expectations of interest rate cuts

January 15th marks the first operation of the Medium-term Lending Facility (MLF) in 2024. Experts believe that both the necessity and space for interest rate cuts are sufficient. There is a high possibility that the central bank will further lower the MLF interest rate.

New housing policies in Shanghai's Qingpu and Fengxian New Town: Single-person purchase restrictions lifted, non-Shanghai residents can buy houses with three years of social security contributions.