Check out the hot topics.
Tesla's stock price plummeted 9.3% on Thursday to close at $220.11.
Previously, the company's third quarter financial report released after hours on Wednesday was disappointing, with CEO Musk stating that he will continue to focus on reducing costs and warning that Cybertruck faces significant challenges in mass production and achieving positive cash flow.
As Tesla's stock price fell, Musk's fortune evaporated overnight to $209.6 billion.
Tesla CEO Elon Musk stated on the third quarter earnings conference call on the 18th that Tesla will still strive to lower the prices of its cars.
He said, "I am concerned about the high interest rate environment we are in. Car buyers are concerned about how much money they need to pay back each month. If interest rates remain high or even higher, it will be much more difficult for people to buy cars
The importance of cost cannot be overemphasized... We must make our products more affordable so that people can afford them. Reducing the cost of Tesla cars is like a 'game of power, just a few cents', "he added.
Musk also stated that energy is becoming the most profitable business; Achieving large-scale production and positive cash flow of Cyberrack will face enormous challenges; Cyberrack will take one to one and a half years to contribute to cash flow; One million people have already booked Cyberrack.
The three major US stock indices fell in shock
On Thursday Eastern Time, the three major indices fluctuated sharply throughout the day. As of the close, the Dow fell 250.91 points, or 0.75%, to 33414.17 points; The Nasdaq fell 128.13 points, or 0.96%, to 13186.18 points; The S&P 500 index fell 36.60 points, or 0.85%, to 4278.00.
The US stock industry's ETFs generally closed lower, with optional consumer ETFs falling 2.56%, biotechnology index ETFs falling 1.64%, financial ETFs falling 1.33%, banking ETFs falling 1.20%, regional bank ETFs falling 1.09%, utility ETFs falling 1.00%, medical ETFs falling 0.99%, and global aviation ETFs, daily consumer ETFs, semi conductor ETFs, and technology ETFs also falling at least 0.5% each.
Popular Chinese concept stocks generally fell, with the Nasdaq China Golden Dragon Index falling 2.11%. Baidu and Futu Holdings fell nearly 6%, JD.com fell more than 3%, NIO, Weibo, and Vipshop fell more than 2%, while Manbang, Alibaba, iQiyi, Tencent Music, Bilibili, NetEase, Ideal Automobile, Xiaopeng Automobile, and Pinduoduo fell more than 1%.
According to the latest data released by the Palestinian Gaza Strip health department on the 19th, this round of Palestinian-Israeli conflict has resulted in 3785 deaths in the Gaza Strip. In addition, according to a report by the Palestinian news agency earlier, 69 people have also died in recent conflicts with the Israeli army in the West Bank region, with over 13300 people injured in the Gaza Strip and West Bank areas. According to data from the Israeli Ministry of Health, as of the morning of the 19th local time, a total of 4629 people were injured in Israel, of which 309 are still being treated in hospitals. According to the Israeli Defense Forces, 306 Israeli soldiers have died in this round of conflict between Palestine and Israel.
Multiple US military bases attacked
According to the Associated Press, after a hospital in Gaza was bombed and caused large-scale casualties, the situation in the Middle East has suddenly become tense. In the past 24 hours, the US base in Iraq has been continuously attacked by drones, causing minor injuries to multinational force personnel.
According to a report cited by reference sources, a US official told the Associated Press that the US military was attacked by two drones at Assad Air Force Base in western Iraq, and another drone attacked a base in northern Iraq. On the 18th, the US Central Command stated in a statement that the US military intercepted these three drones and destroyed two of them, but the third one was only partially damaged, resulting in minor injuries to coalition personnel at the western base. At this highly vigilant moment, we are closely monitoring the situation in Iraq and the region. The US military will protect US and coalition forces from any threat, "the US official said
Seven more central enterprises have been listed as protectors
On the evening of the 19th, seven more central enterprises announced plans to increase and repurchase their holdings, including China National Nuclear Power (601985. SH), Guodian Power (600795. SH), Inner Mongolia Huadian (600863. SH), Guodian Nanrui (600406. SH), China Shenhua (601088. SH), China Aluminum (601600. SH), and China State Construction Engineering (601668. SH), among others, joined the protection team.
Among them, those with a significant increase in repurchase amount include China State Construction Corporation's controlling shareholder, China State Construction Group Co., Ltd., which plans to increase its holdings by no less than 500 million yuan and no more than 1 billion yuan; Guodian Nanrui plans to repurchase no less than 500 million yuan and no more than 1 billion yuan; China Shenhua's controlling shareholder, National Energy Group, plans to increase its holdings by no less than RMB 500 million and no more than RMB 600 million.
Second hand housing in first tier cities has increased
The National Bureau of Statistics released housing price data for 70 cities in September on October 19th. The prices of new houses in first tier cities remained unchanged month on month, with a year-on-year increase of 0.7%. The prices of second-hand houses rose for the first time in September after four consecutive months of decline, with an increase of 0.2%. The prices of new and second-hand houses in second and third tier cities have both decreased month on month.
According to Shen Yun, a senior statistician from the Urban Department of the National Bureau of Statistics, in September, out of 70 large and medium-sized cities, 45 cities saw a year-on-year decrease in new house prices, an increase of 1 compared to August and a decrease of 10 compared to the high point of the year; There are 67 cities with a year-on-year decrease in second-hand housing prices, an increase of 1 compared to August.
Kweichow Moutai Responds to Rumors
On the 19th, A-shares fell again on the hot search, with over 3900 stocks floating green in both markets. Heavyweight sectors such as insurance, oil, banking, and brewing collectively fell. Among them, Kweichow Moutai fell by more than 5%, the lowest intraday drop to 1626 yuan, a new low for more than four months, and the daily turnover exceeded 12 billion yuan, the first time since November 2022. As of the close, the stock was trading at 1630 yuan, with the latest market value of approximately 2.05 trillion yuan.
As for the sharp drop of the company's share price, Kweichow Moutai said that it had paid attention to the fluctuation of the share price, and its production and operation were normal at present. In view of the rumor that Kweichow Moutai's quarterly performance slowed down in the market, Kweichow Moutai staff said that they could not believe the rumor (the growth rate in the third quarter dropped). The company's third quarter report will be released soon, and the company's news should prevail. The decline in stock prices is not related to the inspection. Currently, we have paid attention to the issue of stock prices and are also investigating the reasons. If an announcement is needed, the company will release relevant announcements.
Industry insiders believe that the direct reason for the decline in Maotai's stock price may be the rebound in public opinion in the past two days, which has amplified the wait-and-see sentiment of the capital market towards the Maotai market. But fundamentally, the reason is still that there are significant differences in capital's views on the future of alcohol consumption. Maotai, as a representative of the industry's famous liquor, bears the brunt and has been most significantly affected.
Ant Group acquires a plot of land in Hangzhou for 1.5 billion yuan
According to the Hangzhou Municipal Planning and Natural Resources Bureau, on October 19th, the remaining unit XH1312-29 plot located in Xihu District, Hangzhou was won by Ant Technology Group Co., Ltd. for 1536.73 million yuan, with a land area of 104203 square meters transferred.
It is reported that Ant Group may further expand the office area of Space A to meet the work needs of employees in Hangzhou.
The investment and development agreement for this plot clearly states that the admission project category is: headquarters enterprise, and requires the land winning unit to achieve a total investment of over 3 billion yuan, an average revenue of no less than 50 billion yuan per year, and an average annual tax of no less than 10000 yuan/m within 5 years after signing the land transfer contract; Sup2; The registered capital of the project shall not be less than 400 million yuan, and the annual research and development expenses shall not be less than 3 billion yuan.
Shenzhen Stock Exchange responds to the "Fuhua Chemical Incident"
Recently, there have been media reports that Fuhua Chemical engaged in large-scale dividends and controlling shareholders used the dividends to repay the company's outstanding funds before submitting its IPO application. On the 19th, a spokesperson for the Shenzhen Stock Exchange responded to relevant questions from reporters.
A spokesperson for the Shenzhen Stock Exchange stated that Fuhua Chemical applied for listing on the main board of the Shenzhen Stock Exchange in June of this year. The Shenzhen Stock Exchange issued its first round of review and inquiry letters in July, which focused on the rationality of the company's large dividend distribution, the controlling shareholders' use of the dividend proceeds to repay the company's debts, and the plan to use a considerable proportion of the raised funds to supplement working capital and repay bank loans, Require the issuer to provide sufficient explanations, and require the recommendation institution and accounting firm to carefully verify and express clear opinions. At present, the issuer and recommendation institution have not responded to our audit inquiries. Due to the update of financial reports, the company's application for listing has been in a "suspended review" state since September. Subsequently, the Shenzhen Stock Exchange will strictly review the company's application for issuance and listing, and handle it in accordance with laws and regulations.
Nokia's performance has significantly declined, with up to 14000 layoffs expected
Nokia, a former mobile phone manufacturer with a market value of 18.8 billion US dollars (approximately 137.5 billion yuan), announced its third quarter results on October 19th. Its net sales in the third quarter were 4.98 billion euros, a year-on-year decrease of 20%, with an estimated 5.7 billion euros; The adjusted operating profit for the third quarter was 424 million euros, a year-on-year decrease of 36%, with an estimated 556.4 million euros; After adjustment, the gross profit margin is 39.2%, with an estimated 38.9%. Nokia still predicts an adjusted operating profit margin of 11.5-13% for the entire year.
Nokia stated that it will lay off up to 14000 employees as part of its cost reduction plan after a significant decline in profits in the third quarter. Nokia's goal is to reduce the total cost base by 800 million euros to 1.2 billion euros by the end of 2026 compared to 2023.