Breakfast | Fed Chairman reiterates unlikely to cut interest rates in March, BABA-SWR rumored to consider selling some consumer industry assets

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Overnight Morning Market

Last week, the US stock market continued its recent strong performance, with the S&P 500 and Dow Jones Industrial Average hitting new all-time highs. The Dow rose 1.43%, the S&P 500 rose 1.38%, and the Nasdaq rose 1.12% for the week.

Last week, the Hang Seng Index in Hong Kong fell 2.62%; the Hang Seng Tech Index fell 4.47%; and the Hang Seng China Enterprises Index fell 2.64%.

Data to be released this week includes China's financial data for January, CPI, and foreign exchange reserves, as well as the US ISM non-manufacturing index for January. Several Federal Reserve officials will deliver important speeches. Companies releasing earnings reports include Alibaba, Eli Lilly, SMIC, and attention should be paid to the market closure arrangements for the Chinese financial market during the Lunar New Year holiday.

Blue Chips and Hot Stocks

Tesla raises the price of the long-range version of the Model 3 in the US to $46,990.

UBS: Raises Amazon's target price to $198, maintains "buy" rating.

Morgan Stanley: Expects Pinduoduo's stock price to outperform the market on the 30th, with a target price of $181.

Jiemian News: Nvidia's "special supply" H20 chip for China is now available for pre-order.

WuXi Biologics: Expects no significant adverse changes in the group's business operations and financial conditions. The relevant bill is still in the early stages and is subject to further review and changes by the US legislative body before it is enacted. The company does not have a human genomics business and does not collect human genomic data in any of its businesses.

WuXi AppTec: The company does not and will not pose any national security risks to any country in the past, present, or future. It should not be pre-defined as a "biotechnology company of concern" in the bill. The company will continue to work with consultants and communicate with relevant parties in the legislative process of the bill. The content of the bill is still subject to further review and possible changes.

Institutions: Huawei regains the top spot in China's smartphone market in terms of sales volume.

Xiaomi's automotive Pad software copyright has been approved, and the current version number is V1.0.

Leapmotor responds to personnel changes: Leapmotor's Assistant Chairman, Zeng Lintang, has left Leapmotor since last year for personal reasons.

The Ministry of Industry and Information Technology has released the second batch of new energy vehicle models eligible for vehicle purchase tax reduction and exemption, including Nio, Geely, and others.

Insiders said that Alibaba is considering selling several consumer industry assets, including Hema, RT-Mart, and Intime. Alibaba, RT-Mart, and Intime have not commented on this, and a spokesperson for Hema denied Alibaba's selling plan.

Macro: Taking You to See the World

Fed Chairman Powell: Integrity is priceless, we do not consider politics, and the Fed is unlikely to have confidence in cutting interest rates in March.

Media: The US Senate postpones the review of the bill involving Chinese biotechnology companies.

EU countries reach an agreement on AI regulation, causing concerns from the computer and communication industry association. The association criticizes that many new AI management regulations are not yet clear and may slow down the development and introduction of innovative AI applications in Europe.

The People's Bank of China cuts the reserve requirement ratio by 0.5 percentage points. This reserve cut will provide the market with long-term liquidity of about 1 trillion yuan, exceeding market expectations in terms of implementation and timing. Israel erupts in nationwide protests demanding Netanyahu's resignation.