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Hong Kong-listed AI application stocks showed divergent trends again. Haizhi Technology (02706.HK) surged over 224% on its first day of trading, Zhipu (02513.HK) rose over 13.5%, accumulating a 125% gain this week, and MINIMAX-WP (00100.HK) rose over 10%, accumulating a 42% gain this week. Both stocks total market capitalization exceeded HK$210 billion, and MicroPort Robotics (02252.HK) rose over 9%. On the other hand, Tencent Music (01698.HK) fell over 9.5%, Mobvista (01860.HK) fell over 5%, Meitu (01357.HK) fell over 4%, and Baidu (09888.HK), Meituan (03690.HK), and Kingsoft Cloud (03896.HK) all fell over 3%.On February 13th, Macquarie analysts stated in a report that the global robotaxi fleet size is projected to grow from approximately 7,000 vehicles in 2025 to over 500,000 vehicles in 2030, and exceed 3 million vehicles in 2035. Analysts pointed out that as robotaxi service providers gradually overcome regulatory concerns and begin entering the traditional taxi and ride-hailing markets, the industrys growth is expected to accelerate exponentially. Macquarie predicts that by 2035, the global Robotaxi Gross Transaction Value (GTV) could range from $80 billion to $465 billion. While the integration of robotaxis with traditional vehicles is accelerating, the market as a whole still underestimates the long-term opportunities inherent in robotaxi. Furthermore, analysts stated that more OEMs, Tier 1 automotive parts suppliers, and electronics companies will enter the field in the future, which will increase the adoption of robotaxi technology but will also intensify industry competition.Hong Kong-listed film and entertainment stocks continued their correction, with Tencent Music (01698.HK) falling 9%, Digital Domain (00547.HK) dropping over 3%, Damai Entertainment (01060.HK) declining 1%, and NetEase Cloud Music (09899.HK) and others following suit.A survey by the Reserve Bank of New Zealand showed that the average two-year inflation expectation for New Zealand in the first quarter was 2.37%.A survey by the Reserve Bank of New Zealand showed that the average one-year inflation expectation for New Zealand in the first quarter was 2.59%.

The Dow Futures drop following a strong week

Charlie Brooks

Jul 11, 2022 10:59

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After major benchmark indexes completed the week higher, U.S. stock futures dropped during Sunday evening trade as investors anticipated company earnings reports and important inflation data.


By 7:00pm ET (11:00pm GMT), the Dow Jones Futures were down 0.2 percent , the S&P 500 Futures were down 0.3 percent , and the Nasdaq 100 Futures were down 0.4 percent .


Ahead this week, market participants will concentrate on new CPI data, with the inflation rate predicted to hit 8.8 percent, the highest level since December 1981. Investors will examine, among other data releases, retail sales, manufacturing production, Michigan consumer mood, NFIB Small Business Optimism, consumer inflation expectations, producer pricing, export and import prices, and the New York Empire State Manufacturing Index.


PepsiCo Inc (NASDAQ:PEP) and Delta Air Lines Inc (NYSE:DAL) are scheduled to report earnings on Tuesday and Wednesday, respectively, while JPMorgan Chase & Co (NYSE:JPM), Morgan Stanley (NYSE:MS), Wells Fargo & Company (NYSE:WFC), and Citigroup Inc (NYSE:C) are scheduled to report earnings later in the week.


During trading on Friday, the Dow Jones Industrial Average sank 46.4 points, or 0.2 percent, to 31,338.2, the S&P 500 finished 0.3 points, or 0.1 percent, down at 3,894.4, and the NASDAQ Composite climbed for the sixth consecutive day, adding 14 points, or 0.1 percent, to 11,635.3. The Dow rose 1.4 percent for the week, while the S&P 500 climbed 2.7 percent and the NASDAQ gained 6.1 percent .


On the bond markets, 10-Year United States rates jumped to 3.08 percent.


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