GMT EIGHT - OPPORTUNITIES IN CHINA

Oil prices are being "fanned" and US debt is being "ignited"! Is it dangerous for many countries in Asia?

Except for the Renminbi, since the conflict in Iran, all major Asian currencies have depreciated, with the Philippine Peso, Indian Rupee, and Indonesian Rupiah performing particularly weak.

Under the gloomy clouds of the US housing market, Home Depot, Inc. has shown resilience, and Wall Street analysts still hold an optimistic view.

Wall Street analysts remain optimistic about the future prospects of Home Depot.

Two departments: the proportion of the annual self-generated electricity consumption of the multi-user green electricity direct connection project should not be less than 60% of the total available electricity generation.

The National Development and Reform Commission and the National Energy Administration have issued a notice on the orderly promotion of the development of direct connection of green electricity for multiple users.

Analog Devices (ADI.US) splashes out 1.5 billion dollars in cash to acquire Empower Semiconductor, further enhancing AI data center energy efficiency chips.

Analog Devices Inc. (ADI.US), a leading simulation chip company, has agreed to acquire private semiconductor company Empower Semiconductor for $1.5 billion in cash.

New stock forecast | Green-Sheng: Holding 9.8% global market share of cutting machines, still difficult to break the high account receivable predicament?

Green City Technology has submitted an application for listing on the main board of the Hong Kong Stock Exchange.

New Stock Preview | Behind Hong Kong IPO of Macro & Electronics Standing at the Wind of AI Computing Power

Can Honghe Electronics leverage the power of capital to further consolidate its market position as the "AI computing power behind the scenes" in this Hong Kong IPO?

With the surge in investment in AI, labor costs are "sacrificed"! Meta (META.US) officially launches a global large-scale layoff, with Singapore being the first to be affected.

Meta Platforms is notifying thousands of employees of layoffs as part of the company's restructuring to improve efficiency, reduce costs, and increase investments in artificial intelligence (AI).

The "35" plan in Macao proposes that by 2030, the non-gaming sector will account for 60% of the GDP.

On May 19, the Macao SAR government announced the consultation text of the "Macao Special Administrative Region Economic and Social Development Third Five-Year Plan (2026-2030)", which will be open for public consultation from May 20 to June 28.

Probability of rate hike by the Fed soars! Trump loosens his grip: Powell can "decide rates as he sees fit"

The trading community in the derivatives market believes that there is a 60% chance of the Federal Reserve raising interest rates before December.

New high in the past 30 years! The 10-year Japanese government bond is approaching the key level of 3%, and the sharp drop in Japanese stocks is beginning to show "immune breakdown" to rising interest rates.

Benchmark bond yields close to 3%, the Japanese stock market faces a threat.

"Hidden winner" in AI emerges! Astera Labs' (ALAB.US) year-to-date growth surpasses S&P 500, with explosive Q1 performance and guidance exceeding expectations.

Astera Labs' stock price rose by 13.3% on Tuesday to around $244, bringing its cumulative increase since 2026 to over 46%, far outperforming the S&P 500 index which only rose by 7.42% during the same period.

Is the FSD signal in China being strengthened? Tesla urgently recruits intelligent driving test technicians in nine cities. Official customer service: Actively promoting approval.

Recently, Tesla China posted multiple job openings related to smart driving tests, sparking speculation within the industry about the imminent launch of FSD in the Chinese market. According to the job postings, the open positions include smart driving test technicians, smart driving test engineers, and smart driving test site commissioners, with office locations in 9 cities including Beijing, Shanghai, Guangzhou, Shenzhen, Suzhou, and Wuhan. As a consumer, the reporter contacted the official customer service to inquire about the possibility of using the intelligent driving assistance function after purchasing it for 64,000 yuan through OTA. The response was: "Currently, your vehicle is not compatible with this function. We are actively working to obtain approval in accordance with national regulations, and once approved, we will promptly push it to our domestic customers."

A shares opening express | Three major indexes collectively open lower, with lithium mining, precious metals, and aerospace equipment sectors leading the decline.

The three major A-share stock indexes opened lower together, with the Shanghai Composite Index falling by 0.4% and the ChiNext Index falling by 0.48%.

U.S. bond turmoil shatters interest rate cut dreams! Market expectations drastically reverse: probability of Fed rate hike by end of year reaches as high as 43%

The continuous rise in US Treasury yields has completely changed the market's expectation for the timing of the next rate hike by the Federal Reserve.

New stock first day | Yushitech (01511) made its debut on the stock market with a 7.13% lower opening in the morning. The company focuses on closed scene L4 autonomous driving technology.

Yulai Technology (01511) made its debut on the stock market. The announcement shows that the price per share is 60.3 Hong Kong dollars, with a total of 14.4612 million shares issued. Each lot consists of 50 shares, with a net proceeds of approximately 795 million Hong Kong dollars. At the time of writing, the stock has dropped by 7.13%, closing at 56 Hong Kong dollars with a trading volume of 2.11 billion Hong Kong dollars.

Duan Yongping's holdings expose 138 billion yuan, he entered Tesla in the first quarter.

According to the disclosure of 13F holdings by institutional investors in the US stock market, as of the end of the first quarter of 2026, the total market value of H&H International Investment managed by Duan Yongping is approximately 20.04 billion US dollars, equivalent to about 138 billion Chinese yuan. In the first quarter of this year, Duan Yongping increased positions in Nvidia, Pinduoduo, Berkshire Hathaway, and newly invested in Tesla. At the same time, Duan Yongping reduced positions in Apple, Occidental Petroleum, and exited investments in Alibaba and other assets.

"The Gods Battle"! Alphabet Inc. Class C (GOOGL.US) joins hands with Samsung and Warby Parker to enter the AI audio glasses market. It is expected to be officially released this fall.

On Tuesday, Google unveiled its first audio-intelligent glasses for the first time, trying to make a breakthrough in the wearable device market segment that has been stirred up by competitors like Meta.

New shares first day | Tupos Numerical Control (07688) first listed, opening in the morning with a 40.2% increase. The company is a leading enterprise in the aerospace five-axis numerical control machine tool field.

Tuopu CNC (07688) made its debut on the stock market. The announcement shows that the price per share is 26.39 Hong Kong dollars, with a total of 65.33 million shares issued, in denominations of 100 shares per lot. The net proceeds from the offering are approximately 1.606 billion Hong Kong dollars. As of the time of writing, the stock has surged by 40.2%, trading at 37 Hong Kong dollars with a turnover of 416 million Hong Kong dollars.

Is the ghost of the 1997 Asian financial crisis returning? The "perfect storm" of US bond yields breaking 5% and oil prices strangling: Indian, Indonesian, and Filipino currencies hit historic lows.

The global bond sell-off may trigger turmoil in Asia's weakest economies.

May LPR announced: The interest rates for 5-year and 1-year terms remain unchanged.

The People's Bank of China has authorized the National Interbank Funding Center to announce that, as of May 20, 2026, the Loan Prime Rate (LPR) in the loan market is as follows: 1-year LPR is 3.0%, and LPR for 5 years and above is 3.5%.

In 2026, FOMC voting member Paulson "hawkish": inclined to keep interest rates unchanged, with the premise of lowering rates being continuous progress in fighting inflation.

As the chairman of the Federal Reserve Bank of Philadelphia and a voting member of the Federal Open Market Committee (FOMC) in 2026, Anna Paulson expressed a preference for keeping interest rates unchanged. She believes that cutting rates would only be appropriate if progress in fighting inflation continues.

Highlights of the securities firm's morning meeting | Under the wave of AI, MLCC ushers in a new round of uptrend cycle.

Citic Securities emphasized that under the wave of artificial intelligence, MLCC has ushered in a new upswing cycle.

The revised Regulations on the Implementation of the Administrative Reconsideration Law will be implemented from July.

The newly revised "Implementation Regulations of the Administrative Reconsideration Law of the People's Republic of China" have been recently announced and will be implemented starting from July 1st this year. Administrative reconsideration is a system for the government to correct its own mistakes and a relief system for resolving administrative disputes between the government and the people. For example, if there are objections to administrative actions such as being fined for running a red light, having a business license revoked, or not being recognized for a work-related injury, they can be resolved through administrative reconsideration. The new implementation regulations supplement and clarify several matters that can be reconsidered, such as being dissatisfied with being included in the government's credit punishment "blacklist" by an administrative agency, which can also be subject to administrative reconsideration.

Before-market report on A-shares | Domestic storage giant Changjiang Storage initiates listing guidance, Google Developer Conference in full swing.

On May 19, Yangtze Memory Technologies completed the IPO guidance filing. Prior to this, Changxin Technology updated its prospectus, and the net profit surged by 1688% in the first quarter, triggering a market frenzy.

CITIC SEC: Token factory and operator drive reevaluation of industrial chain value, top computing power leasing manufacturers capitalize on advantages.

CITIC Securities released a research report stating that Token factories are gradually being established, and Token services are moving towards standardization.

The market "added one interest rate cut" for him! Powell took office on Friday, and the interest rate cut path for the year has been cut off: US Treasury yields surged across the board.

The surge in bond yields has intensified the pressure on Federal Reserve Chairman Powell.

Sino-Iran confrontation suddenly sees large number of put options at "critical point": 134 million barrels of crude oil bet on oil price collapse, market doubts resurfaced.

On the morning of May 19th, there was an unprecedented large-scale put option trading on the Brent crude oil market, which reignited tension in the already wary market.

SpaceX frequently makes moves: Completing "the largest IPO in history" 30 days later, or acquiring AI coding newcomer Cursor.

SpaceX plans to proceed with the acquisition of the artificial intelligence (AI) coding startup Cursor 30 days after going public.

The Nikkei 225 index opened at 60567.27 points in the morning, up 0.03%.

Hong Kong stock concept tracking | Changjiang Storage initiates IPO guidance. Institutions are optimistic about investment opportunities in the storage industry chain (with concept stocks).

Changxin Storage and Yangtze Storage are now implementing "prepayment production scheduling."

Middle East fighting impacts the basic oil market! Chevron Corporation (CVX.US), Motiva urgently limits supply.

With the ongoing disruption of the global crude oil market in a specific area due to the Middle East conflict, two high-end engine oil key raw material suppliers have reduced delivery volumes of some products to the lowest level allowed by the contract.

New stock news | Suzhou Dongshan Precision Manufacturing (002384.SZ) once again submitted documents to the Hong Kong Stock Exchange as the world's largest provider of edge AI equipment PCBs.

According to the disclosure of the Hong Kong Stock Exchange on May 19, Suzhou Dongshan Precision Manufacturing Co., Ltd. has submitted an application to list on the main board of the Hong Kong Stock Exchange, with UBS Group, Haitong International, GF Securities and CITIC Securities as joint sponsors.

Google launched the Gemini 3.5 series model.

On May 19th local time, Google announced the release of the new Gemini 3.5 series model. As the debut model of this series, the Gemini 3.5 Flash was released first. It has cutting-edge performance in the field of intelligent body operation and programming, especially excelling at handling complex long-term tasks that can generate practical application value. In addition, Google is currently accelerating the development of the more advanced Gemini 3.5 Pro model. This model is currently being used internally at Google and is expected to be officially launched on the market next month.

New stock news | Mandy International's Hong Kong IPO prospectus is invalid

Mandy International submitted its Hong Kong stock prospectus on November 20, 2025, which expired six months later on May 20, 2026. Huatai International was its exclusive sponsor at the time of submission.

New stock news | XETONG once again submits documents to the Hong Kong Stock Exchange and ranks first in China's interactive private domain operation solution provider.

According to the prospectus, Xiaoe Tech is a product-driven SaaS solution provider in the field of private domain operations, empowering enterprises to build, operate and expand their decentralized e-commerce infrastructure.

CMSC: Southbound funds have returned to net inflows. The probability of the Hong Kong stock market continuing to fluctuate upwards is still relatively high.

CMB Securities released a research report stating that looking ahead, the probability of the Hong Kong stock market continuing to fluctuate and trend upwards remains high.

Guotai Haitong: Middle East conflict causes blockage in strait, freight rates surge significantly.

The strategic value of oil transportation is highlighted, with China's fleet operating more efficiently than the industry average, and it is expected that performance in the second quarter of 2026 will continue to exceed expectations.

The European Union plans to stockpile fertilizers to stabilize food prices: or implement joint procurement and establish a minimum stock mechanism.

On Tuesday, May 19th, the European Commission announced on its official website that it will evaluate some schemes to ensure the supply of key fertilizers and inputs, which may include establishing seasonal stocks or minimum stocks, and implementing joint procurement mechanisms in appropriate cases.

Report: Goldman Sachs leads the team in charge of managing SpaceX's massive IPO banking lineup

Insiders revealed that Goldman Sachs has secured the lead underwriting position for SpaceX's IPO, and is expected to play a central role in this historically unprecedented listing project. Insiders also stated that Morgan Stanley is included in the list of lead underwriters; Bank of America, Citigroup, and JP Morgan are listed in alphabetical order in the preliminary prospectus, with official announcements yet to be made. At present, the relevant matters are still under discussion, and there is still room for adjustments in the specific details of this IPO. Insiders disclosed that SpaceX's IPO aims to raise up to $75 billion, with a target valuation of over $2 trillion for the company.

New Stock News | Suzhou Dongshan Precision Manufacturing (002384.SZ) submits filing to HKEX again.

According to the disclosure of the Hong Kong Stock Exchange on May 19th, Suzhou Dongshan Precision Manufacturing Co., Ltd. has submitted an application to the main board of the Hong Kong Stock Exchange, with UBS Group, Haitong International, GF Securities, and CITIC Securities as joint sponsors.

New stock news | Xuetong submitted a listing application to the Hong Kong Stock Exchange again.

According to the disclosure on May 19th by the Hong Kong Stock Exchange, Xiaoe Inc. (referred to as "Xiao'eTong") submitted its application for listing on the main board of the Hong Kong Stock Exchange.

Overnight US stocks | Probability of the Fed hiking interest rates by the end of the year exceeds 80%, three major indexes closed lower, Micron Technology, Inc (MU.US) increased by 2.52%.

As of the close, the Dow fell 322.24 points, a decrease of 0.65%, to 49363.88 points; the Nasdaq fell 220.02 points, a decrease of 0.84%, to 25870.71 points; the S&P 500 index fell 49.39 points, a decrease of 0.67%, to 7353.66 points.

HK Bull/Bear Outstanding Qty Ratio(66:34) | May 20th

As of May 20, the latest bull-bear street ratio of the Hang Seng Index is 66:34.

Polymarket enters private equity market predicting trading on OpenAI's and Anthropic's valuation and IPO as betting targets.

Polymarket is further expanding into the private market prediction trading field, this time targeting AI unicorns that are familiar but difficult for ordinary investors to directly invest in.

Inflation concerns reignite, triggering global bond market sell-off, pushing 30-year US Treasury yield to near 19-year highs.

US treasury bonds experienced a new round of selling on Tuesday, causing long-term US bond yields to rise further.

The financing frenzy of AI data centers has raised concerns in the market, with Bank of America warning that tech giants borrowing to expand could become a potential source of credit risk.

With the continuing trend of AI data center construction heating up, Wall Street is increasingly worried that large-scale borrowing for expansion may be laying the groundwork for the next credit market shock.

Countdown to the High-NA Lithography Era! ASML Holding NV ADR (ASML.US) announced that the first batch of chips will be available in a few months. HBM/DRAM collaborates with AI chips to welcome the process node transition.

ASML stated that the first batch of chips manufactured using High-NA lithography equipment will be unveiled in a few months.

US Stock Market Move | Q1 profits surged nearly 80%, RERE.US surged over 11% in early trading.

On Tuesday, Love Recycle (RERE.US) surged more than 11% in early trading, reaching $5.

Wealth Bank: Most of the strongest stock market up days in the US occur during bear markets. Investors who "time the market" accurately may miss out on the market.

The latest research from Fuguo Bank shows that during periods of intense market volatility, strong rebounds are more likely to occur.

US Stock Market Move | Precious metal stocks weaken Hecla Mining Company (HL.US) falls more than 5%

On Tuesday, gold and silver stocks weakened.

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"Tmall 618" national subsidy adds 22 new categories, with stacked subsidy prices as low as 50% off.

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The Sino-Russian Treaty of Good-Neighborliness and Friendly Cooperation has been postponed.

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Mai Ansen: The company currently has no collaboration with Yunshenchu.

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Xiaocheng Technology: There is currently no plan to introduce central enterprises or external capital.

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