早餐 | 中金称港股乐观预期是再涨 20%，OpenAI 将发布 ChatGPT 搜索引擎

Good morning! A great day starts with making money.

Overnight Morning Market

In the Asian market this morning, the futures of the three major US stock indexes opened slightly higher on Monday, with Nasdaq futures up 0.2%. Spot gold and WTI crude oil opened slightly higher on Monday, currently trading at $2303 per ounce and $77.91 per barrel respectively.

Important economic data and events for this week are as follows:

Monday: Caixin Services PMI for April in China; Stock markets in Japan, South Korea, and the UK closed.

Tuesday: Reserve Bank of Australia interest rate decision; Foreign exchange reserves for April in China; Speeches by Fed officials Bostic and Williams.

Wednesday: API and EIA inventory data in the US for the week; Wholesale sales for March in the US. EIA releases the Monthly Short-Term Energy Outlook report; Fed Vice Chair Clarida speaks on the economy.

Thursday: Trade balance for April in China; M2 money supply annual rate for April in China; Bank of England interest rate decision; Initial jobless claims in the US for the week; EIA natural gas inventory for the week in the US. Bank of Japan releases summary of opinions from April monetary policy meeting; Bank of England Governor Bailey holds a monetary policy press conference. SMIC releases earnings.

Friday: 1-year inflation rate expectations for May in the US; Preliminary University of Michigan Consumer Sentiment Index for May in the US. Speeches by Fed officials Daly and Bowman; ECB releases minutes of April monetary policy meeting.

Saturday: CPI for April in China

During the "May Day" holiday on the mainland, Chinese assets staged an epic comeback. From May 1st to 3rd, the Nasdaq Golden Dragon Index gained for three consecutive days, with a cumulative increase of over 8%, reaching a new closing high since late November last year; Hong Kong stocks also surged collectively, with the Hang Seng Index gaining for "nine consecutive days", setting a record for the longest continuous increase since February 2018.

Last week, the Dow rose by 1.14%, the Nasdaq rose by 1.43%, and the S&P 500 index rose by 0.55%.

Blue Chips and Hot Stocks

China Ping An Opposes Reappointment of Retiring Executive Director Qi Yaonian? "No such information," says Ping An

There are reports that China Ping An, the largest shareholder of HSBC Asia, opposes the reappointment of retiring Executive Director Qi Yaonian as a board member. Informed sources said that at the shareholders' meeting last weekend, Qi Yaonian's director appointment proposal faced a 16% opposition vote, which roughly corresponds to Ping An's shareholding in HSBC. In response, individuals related to China Ping An stated: "There is no such information."

Report: Apple's Under-Screen Face ID Delayed Again, to Debut on iPhone 18 Pro

It was once widely believed in the industry that the iPhone 16 would be the first model to feature Under-Screen Face ID. Analyst Ross Young previously predicted that the iPhone 17 Pro and Pro Max would be the first iPhone models to feature Under-Screen Face ID and hole-punch front cameras. He now states that this plan has been delayed to 2026, meaning that the iPhone 18 Pro will be the first model to feature Under-Screen Face IDApple's iPhone 16 series will replace the aluminum plastic film with stainless steel for the battery shell, with the supplier being a Chinese company. The all-steel shell will use laser welding technology to improve the battery's lifespan, mainly by increasing the number of cycles.

Elon Musk stated that the Standard Range Model Y can achieve a range of 320 miles (approximately 515 kilometers) and mentioned that although it is rear-wheel drive, the precision of Tesla's electric motors means it still has significant traction on ice and snow when using all-season tires.

BYD sold 22,001 units of the Honor Edition of the Yuan PLUS in April, with total sales surpassing 680,000 units.

Berkshire Hathaway reported a Q1 net profit of $12.702 billion, revenue of $89.869 billion, and a new high in cash reserves. Warren Buffett mentioned that reducing holdings in Apple was due to tax reasons, but they will continue to invest in Apple for the long term. The main investments will always be in the United States, and cash holdings may reach $200 billion by the end of June.

Chips and Artificial Intelligence

OpenAI CEO Sam Altman: Developing General AI is Worth Burning $50 Billion

Sam Altman, CEO of OpenAI, recently stated that to become the first company to develop General Artificial Intelligence (AGI), any cost is reasonable. As long as we can find a way to pay the bill, we will do AGI. He is more concerned about how quickly society can adapt to the progress made by his company.

OpenAI will release the ChatGPT search engine this week, challenging Google Search.

IPO Opportunities

Possibly the fastest IPO among new electric vehicle companies, ZEEKR submitted its prospectus: the offering price range is $18-21 per ADS.

Macro: A Look at the World with You

CICC: Hong Kong Stocks Still Have About 20% Upside in an Optimistic Scenario

The current rally in Hong Kong stocks is mainly driven by valuation driven by the funding side. After the recent rapid rise, the short-term overbought situation is evident. If the risk premium falls to the levels of last year and early this year, it corresponds to an upside of about 2%-7%. If subsequent policies continue to drive optimistic scenarios with a 10% profit growth, it corresponds to an upside of about 20%.

Goldman Sachs: If A-shares can narrow the gap with the global leaders in shareholder returns, A-shares may rise by about 20%. If they can reach the level of global leaders - the most optimistic scenario, the increase could be as high as 40%.

Hong Kong Financial Secretary Paul Chan stated that Hong Kong actively supports the work of the Asian Infrastructure Investment Bank. In the first quarter of this year, Hong Kong's GDP grew by 2.7% year-on-year, marking five consecutive quarters of growth. After seasonal adjustments, the quarterly growth rate accelerated to 2.3%. The atmosphere in the Hong Kong asset market has also improved. The Hang Seng Index has risen for 9 consecutive trading days, with a cumulative increase of nearly 14%, and the average daily turnover exceeding HK$128 billion. After the withdrawal of cooling measures in the property market, transactions have become more active, and property prices are gradually stabilizing.

The Bank of Korea has announced its rare consideration of buying more gold in the medium to long term, with the last large-scale purchase of gold by the Bank of Korea dating back to 2011. The World Gold Council stated that the historic surge in gold prices is mainly due to continued purchases by central banks in emerging markets and the growth of retail investors, while European investors are withdrawing funds and adopting a wait-and-see attitude