The possibility of a credit "good start" next year is relatively small. Zhongtai Securities believes that the central bank's guidance on "smoothing credit issuance and improving the efficiency of existing loans" has already been reflected, as evidenced by the seasonal increase in bill rates, indicating that the effect of "smoothing credit scale" has been demonstrated. Considering the high base in January 2022 and the impact of the Spring Festival, the possibility of a good start next year is reduced. The good start is usually led by medium and long-term loans to enterprises, so attention should be paid to infrastructure construction and manufacturing investment demand.

Will there be a "lending boom" next year?

腾讯 NOW 直播今日停止运营并下架，停止运营原因为业务调整。用户可选择资产迁移或退款方案。NOW 直播是腾讯旗下的直播 + 短视频 + 交友社交平台，在短期内曾超过竞争对手映客直播和虎牙直播。

腾讯 NOW 直播今日停止运营并下架

Evergrande Auto's stock price rose more than 10% at one point, and as of the time of writing, it has risen 6.12% to HKD 0.52, with a turnover of HKD 7.1327 million. In terms of news, according to a recent announcement from Evergrande Auto's official WeChat account, they have launched an end-of-year promotion where a deposit of RMB 10,000 can be used as a RMB 20,000 discount. At the same time, participants in the partnership program can receive a reward of RMB 10,000 per vehicle. It is reported that currently, Evergrande Auto only has one model, the Evergrande 5, available for sale. This model is positioned as a compact SUV with a price of RMB 179,000. Evergrande Auto's interim report released earlier showed that the group's revenue for the first half of the year was RMB 154.54 million, an increase of 540.98% compared to the restated revenue for the six months ended June 30, 2022. The increase in revenue is mainly due to the group starting to sell the Evergrande 5.

Hong Kong Stock Market Update | EVERG VEHICLE surges over 10% as Hengchi Motors launches year-end price reduction campaign.

China's reserve assets in US dollars have not reduced holdings of US Treasury bonds, but have leaned more towards non-government debt and equity assets. The total amount of US Treasury bonds held by China may be around $13 to $14 trillion, slightly lower than the pre-pandemic level of around $15 trillion, but not as severe as reflected in the TIC data. In addition, China's major US dollar assets include short-term and long-term US Treasury bonds, corporate bonds and institutional bonds, equities, and deposits, with a total value slightly above $2 trillion since 2018, which matches the trend and accounts for about 60% of China's reserve assets and the value of other foreign currency assets.

China significantly reduces its holdings of US dollar assets? Not really.

据消息称，苹果前首席设计师乔纳森·伊夫和 OpenAI 首席执行官萨姆·奥特曼计划联手延揽苹果 iPhone 和 Apple Watch 设计负责人加入他们的新公司 LoveFrom，共同开发具有人工智能功能的新产品。伊夫希望通过这家新公司将人工智能设备工作转变为现实。目前，该项目仍处于早期阶段，主要集中在招聘人才和创造概念上。伊夫也在寻求软银集团董事长孙正义的数十亿美元投资。

消息称 iPhone 设计负责人将加盟苹果前首席设计师的公司，与奥特曼合作开发 AI 产品

Tencent rebounded nearly 4% in early trading, and as of the time of writing, it has risen 3.36% to HKD 283.2, with a turnover of HKD 3.219 billion. In terms of news, on December 22nd, Tencent announced that it repurchased 3.59 million shares on that day, with repurchase prices ranging from HKD 263.8 to HKD 317, totaling HKD 1 billion. Recently, Tencent has repurchased a large number of company shares. From November 20th to the present, Tencent has repurchased shares almost every trading day, with a total repurchase of 9.509 billion shares during this period. In addition, regarding the "Draft for Soliciting Opinions on the Management Measures for Online Games" issued by the National Press and Publication Administration on December 22nd, an insider from the China Audio-Video and Digital Publishing Association Game Committee stated that since it is a draft for soliciting opinions, it indicates that all sectors can freely express their views at this stage in order to make it practical and more perfect. The relevant person in charge of the National Press and Publication Administration also stated that they will carefully study the concerns and opinions raised by all parties regarding Article 17, Article 18, and other contents of the draft, and further revise and improve them based on continued listening to the opinions of relevant departments, enterprises, users, and other parties.

Hong Kong Stock Market News | Tencent rebounds nearly 4%, repurchasing HKD 1 billion in a single day, and online gaming regulations will be further revised and improved.

新年将至，部分存量贷款即将迎来重新定价。据记者了解，选择将每年 1 月 1 日作为 “重定价日”、且在今年 6 月 20 日以前定价的存量房贷，利率即将再度下调 10 个基点。这与今年 9 月底开始的存量房利率调整并不冲突。

再降！下周起部分存量房贷利率可下调 10 个基点

NetEase opened more than 13% higher in early trading, and as of the time of writing, it has risen by 13.93% to HKD 139, with a turnover of HKD 175 million. According to multiple independent sources, Activision Blizzard has been in talks with several domestic game developers about the "return of the Chinese server," and ultimately chose to re-collaborate with NetEase. In response to the re-collaboration between NetEase and Activision Blizzard, and the introduction of the Chinese version of "World of Warcraft," Activision Blizzard China stated to the media that they have no information or updates to share at the moment. Debang Securities pointed out that there is a good opportunity for the overall growth of the gaming industry, based on the following three reasons: 1) It is expected that the fundamentals of the industry will gradually improve this year; 2) The growth prospects of ARVR and AIGC are very clear, and now is the time to lay out; 3) Policies support the development of the digital economy, cultural industry, and platform economy. It is recommended to pay attention to NetEase and other related companies.

Understanding the Market | Why did NetEase open more than 13% higher in early trading?

中国 11 月规模以上工业企业利润同比 29.5%，前值 2.7%。

Tencent and Netease shares rebound as regulators promise improvements to gaming rules that impacted investor sentiment.

Tencent, Netease shares rebound after regulators vow to improve proposed rules

NIO-SW opened nearly 15% higher and as of the time of writing, it has risen by 14.96% to HKD 72.6, with a turnover of HKD 6.8128 million. On the news front, on December 23rd, NIO-SW ET9 made its official debut and started pre-sales at a price of CNY 800,000. Deliveries are expected to begin in the first quarter of 2025. NIO-SW ET9 incorporates four core technologies: self-developed intelligent driving chips, a global 900V high-voltage architecture, the Skywalk chassis system, and flagship-level safety standards. NIO-SW CEO Li Bin stated in an interview that the order volume for NIO-SW ET9 far exceeded official expectations. CICC believes that as the latest masterpiece of the company's technological innovation, ET9 is expected to strengthen NIO's position as a luxury brand in terms of technology. In addition, the new round of CYVN venture capital is expected to boost the company's cash position. Looking ahead to next year, the bank believes that the iteration of intelligent driving, the expansion of battery swapping stations, and the transformation of the sales system will become the three key drivers to boost sales.

Hong Kong Stock Market News | NIO-SW opens nearly 15% higher as flagship ET9 is released and pre-sales begin. CEO indicates that the order volume far exceeds official expectations.

港股开盘，恒指上涨 1.35%，科指上涨 2.62%。科网股多数上涨，蔚来汽车、网易、哔哩哔哩和快手等股票涨幅分别超过 6%、14%、15% 和 2%。

隔夜美股标普 500 指数创历史高点，投资者押注美联储将于 3 月降息。亚洲股市随之上涨，澳大利亚和日本股市表现较好。标普 500 指数本月已累计上涨 4.5%，今年以来累计涨幅达 24%。印度股指保持在历史高点附近，但 MSCI 全球指数相比纪录低位下跌 4.5%。具体来看，股市表现良好，货币、加密货币、债券和大宗商品价格基本稳定。

亚市早盘：亚洲股市上涨，美国股市徘徊纪录高点附件

软银集团在东京早盘交易中上涨 7%，创 6 月 13 日以来最大单日涨幅。

方舟投资管理公司创始人凯茜·伍德预测比特币将持续反弹，并表示比特币是一种对冲通胀和通缩的工具。她认为在未来五年内，比特币将被视为与实物黄金一样的投资，并可能在更多的新兴经济体中被用作法定货币。萨尔瓦多已经表示支持比特币和加密资产。

“木头姐” 称五年内比特币将像黄金一样被投资

中国人涌入日本楼市，购买房产狂潮持续升温。他们不仅购买低总价小房子，还开始购买大户型、高总价的公寓、学区房，甚至一次性批量购买。日本房产市场逆势上涨，中国人以惊人规模和热情涌入。房价上涨导致购房者变得更加着急，在二手市场中好地段、好价格、高回报的房子很快被抢购一空。购房者甚至需要排队等待。中国人爆买日本不动产成为热点话题之一。

全款抢房，中国人涌入日本楼市

2023 年最后一周，光伏主材价格下跌，p 型产品较大，而 n 型产品相对坚挺。在产能过剩的情况下，通威股份等硅料巨头纷纷扩张产能。硅料是光伏主材四大环节中唯一没有跌价的。大全能源投资 150 亿建设硅料，通威投资 280 亿元建设工业硅和硅料。

以战去战，以杀去杀！硅料巨头们为何要逆市扩产？

美国假日季零售销售额增长 3.1%，网购表现不及去年。万事达卡发布的报告显示，由于利率上升和通胀压力，今年的增幅低于去年。亚马逊和沃尔玛在促销方面力度减小，折扣力度也不如去年。电商销售额增速从去年的 10.6% 降至 6.3%。服装类和餐饮类销售额有所增长，而电子产品销售额下降。报告未包括汽车销售数据。

美国假日季零售销售额增长 3.1%，网购表现不及去年 -- 万事达卡报告

Bitcoin fell below $42,000 for the first time in a week, while the recent rally in memecoins is showing signs of stagnation. Investors remain cautious about future volatility and are keeping an eye on the Bitcoin options expiring on December 29th. Meanwhile, memecoins like Dogwifhat and NFT tokens have recently experienced strong gains, but their prices are currently declining.

Crypto frenzy takes a break! Bitcoin falls below $42,000, Memecoin's rally stalls

12 月 26 日消息，白宫拒绝推翻苹果公司智能手表在美国的销售禁令。苹果公司表示，已就进口禁令提起上诉。（界面）

苹果公司就苹果手表进口禁令提起上诉

截至 10 月末的三个月，该基金的阿里巴巴持股增加 65%、理想持股增近 30 倍，云南白药持股增逾 9 倍；台积电持股减少 22%，市值降至第二大重仓股，网易被减持 76%；清仓百胜中国；新进沙特阿美 213 万股、中国远洋 1220 万股、石药集团 1160 万股。

高盛新兴市场洞察基金调仓中概：大幅增持阿里、理想，减持网易，腾讯升为头号重仓

目前银行定期融资计划（BTFP）利率降至 4.84%，比存款准备金利率（IORB）低 56 个基点，差距为美联储 3 月设立 BTFP 以来最大。上周银行从 BTFP 借入的款项达创纪录的 1310 亿美元，只通过贴现窗口借入 24 亿美元。

降息预期催生新套利机会！美联储可能放任硅谷银行危机期间融资工具明年到期

高盛集团 Goldman Sachs Emerging Markets Equity Insights Fund 于 7 月 31 日至 10 月 31 日期间建仓做多中远海运控股等 119 只股票。清仓百胜中国、三星 SDI 等 150 只股票。增持理想汽车、阿里巴巴、云南白药等 86 只股票。减持台积电、网易、美团、现代汽车等 79 只股票。重仓股包括腾讯控股、台积电、三星电子、阿里巴巴、起亚汽车。

高盛新兴市场证券洞察基金建仓中远海运控股，增持理想、阿里、云南白药，重仓腾讯和阿里

According to preliminary data from Mastercard, retail sales growth during this year's holiday season in the United States is significantly lower than the same period last year. Retail sales, excluding automobiles, increased by 3.1%, compared to 7.6% last year. Retail sales during the holiday season are an important indicator of the US economy.

The holiday season in the United States is not as hot this year! The growth rate of retail sales has slowed significantly compared to the same period last year.

According to data from Standard & Poor's Case-Shiller on Tuesday, housing prices in the country continued to rise in October, marking the ninth consecutive month of increases and setting a new record. This comes at a time when mortgage rates are at their highest level in over 20 years. Analysts believe that with the decline in mortgage rates and the Federal Reserve taking a slightly more accommodative stance, homeowners may see further appreciation in housing prices.

During the peak of US mortgage rates, an important housing price index has achieved the highest increase of the year.

比特币回落至 42000 美元/枚下方，日内跌 3.54%。以太坊向下触及 2200 美元/枚，日内跌 3.14%。

年化收益接近 6%！ 银行活期理财也在 “放大招”

加密数字货币信托 Grayscale 的董事会主席 Silbert 辞职。该公司正申请将比特币信托转化为交易所交易基金。美国证券交易委员会将比特币 ETF 的审批工作推迟至 2024 年。

加密数字货币信托 Grayscale 的董事会主席 Silbert 辞职

亚马逊计划明年开始在线销售汽车，消费者可在网站上搜索车型、颜色和功能，并选择付款方式和贷款方案，自主提车或要求送货上门。然而，亚马逊面临诸多挑战，如传统经销商的竞争和各地政府法规的遵守。亚马逊希望通过推出这项服务扩展到汽车以旧换新和二手车领域。调查数据显示，亚马逊在大件商品上的销售相对较少。此举将对传统汽车经销商带来影响。

不止卖现代！亚马逊明年要全面进军线上卖车

“蔚来一定要进入迈巴赫、宝马 7 系和帕拉梅拉等高端车型们把持的豪车市场。否则我们的利润、品牌天花板都会受限”。

李斌 “向上” 豪赌

赵长鹏是一位加密货币企业家，预计他的财富在 2023 年将增长 250 亿美元，达到超过 370 亿美元。这是他创立的币安同意向美国支付罚款的五倍多。尽管币安今年失去了一些市场份额，但仍从加密货币市场反弹中受益。赵长鹏还拥有一些比特币和 BNB，但他的财富距离 2022 年初的峰值还有差距。

赵长鹏的财富在 2023 年增长 250 亿美元 远高于币安支付给美国的罚款

Global Financial Hotspots in 2023: Banking Crisis, Liquidity Panic, Rise in US Treasury Yields, Approval of Bitcoin ETF, Active Tech Stocks, Growth in Weight Loss Industry, Decline in Global Inflation Rate, Bullish Performance of Japanese Stock Market.

Year-end Review: The Top 10 Global Financial Hotspots in 2023: A Year of Turmoil, Innovation, and Transformation

After a 65% plunge in 2022, Bitcoin has led the market in gains this year, soaring from $19,000 at the beginning of the year to $44,000 at the end, a surge of over 136%. This upward trend has been fueled by the potential approval of Bitcoin exchange-traded funds (ETFs) by US regulatory agencies and the dovish interest rate signals from the Federal Reserve. Bitcoin experienced several pullbacks to above $20,000 in the first half of the year but gradually regained lost ground. Although this year's rally has not been without its challenges, the outlook for next year remains optimistic.

Year-end Review: Bitcoin Survives Three Quarters of Downturn and Soars at the End of the Year

雷军发文就小米汽车技术发布会回答网友提问。雷军称，小米 SU7 正在试产爬坡阶段，正式上市还需要几个月时间。关于定价，还没有最终决定。不过，小米 SU7 确实有点贵，但请相信，我们做的是 “有理由的贵”，在体验上一定会超过大家预期。此外，雷军表示，小米 SU7 没有准确的对标车辆。在驾驶性等机械素质上，希望能媲美保时捷 Taycan Turbo；在智能化上，希望能媲美 Tesla Model S。

雷军：小米 SU7 正式上市还需几个月 定价未决定但 “确实有点贵”

AstraZeneca acquires Gracell Biotechnologies for $1.2 billion. Chinese biotech companies can also be sold as a whole to realize shareholder value.

$1.2 billion! The first Chinese biotech company to go public has been acquired | Insight Research

Analysts point out that 2024 will be the year of the explosive implementation of AI applications, which will drive the expansion of online advertising business and initiate a revolution in AI personal assistants...

Top 10 Internet Trends in 2024: Industries about to be transformed by AI

工信部公布《减免车辆购置税的新能源汽车车型目录》（第一批），两款小米 SU7 在列。

The ARKF fund managed by "Wood Sister" purchased a total of approximately 1.71 million shares of LY company stock last Thursday and Friday.

"Wood Sister" sets sights on Japanese stocks? Makes first move in over a year to buy Line

Some people don't want to have children, while others want to have children but can't.

The prospectus of AWE reveals how lucrative the surrogacy industry can be

美股利好消息源源不断！历史表明，仍有大量买盘有待完成，而这些买盘可能在未来几个月里支撑市场。而且，“市场上还有大量的现金流入空间”！

理解市场 | 为什么现在追逐美股上涨也不晚？

2023 年的最后一周，汽车行业将迎来一场年末混战。问界 M9、极氪 007、小米 SU7、小鹏 MPV 等新车相继上市，将改写人们对汽车行业的认知。各车企互相观察，竞争激烈。尽管理想 MEGA 缺席，但这轮新车阵势强大。问界 M9 被认为是流量秘密，可能会吞噬其他新车的声量。理想、小鹏等车企则担心华为的竞争。整个车市竞争异常激烈，各车企都在等待对方先出牌，以争取更多调整的空间。

汽车行业最颠覆的一周，就要来了

摩根士丹利发布新兴市场策略报告，认为有 8 大意外因素可能对新兴市场产生重大影响，包括主权信用债回报率下降、本币债表现优于美元债、资本流入回归、埃及债务重组、巴拿马铜矿危机、阿根廷债务回报率增加、沙特取消减产以及哥伦比亚比索危机等。摩根士丹利预计，随着全球央行降息和美国经济避免硬着陆，新兴市场将迎来一个好年景，但市场走势并非一帆风顺。

摩根士丹利：2024 年，全球新兴市场八大意外

Microsoft Xbox has partnered with digital human development company Inworld AI to develop a series of development tools that help game developers create AI-based NPC characters with better dialogue and interaction capabilities, thereby enhancing the immersion and experience of the game.

Injecting Soul into NPCs! Microsoft aims to change the way games are played with AI

过去七年中，圣诞行情从未缺席，今年看涨气氛同样热烈！但为何也需要警惕？小心 “1 月或 2 月市场在技术指标超买后再次出现调整”！

理解市场 | 美股今年圣诞行情有何不同？

作为香港四大家族之一，郑裕彤家族枭雄落幕、新生代崛起？！

郑裕彤家族投资版图一览！

国家外汇管理局青岛市分局工作人员介绍，地下钱庄从 “客户” 那里收取了人民币后，就去购买虚拟货币，再通过境外交易平台将虚拟货币卖出去，就可以获得他们所需要的外币资金。这个过程实现了人民币和外币的转换，这构成了非法买卖外汇的违法行为。

青岛破获特大地下钱庄案，涉案金额高达 158 亿元

中信证券持续看好苹果首款 MR 头显设备 Vision pro 的市场前景和投资机会！主因 Vision Pro 在硬件端展现了当前消费电子领域顶尖的参数水平，有望提供全面超越市面相关产品的硬件体验！

解读公司 | 为什么 Vision Pro 对苹果很关键？

亚洲股市交投清淡，部分市场休市，流动性减少。标普 500 指数连续第 8 周上涨，美国股指期货和国债合约变化不大。亚洲新兴货币上涨，美元下跌。华尔街投资者为 “圣诞老人行情” 做准备。油价企稳，红海航运中断成为焦点。股市、货币、加密货币、债券、大宗商品表现基本持平或有涨幅。总结：亚洲股市交投清淡，美国股市持续上涨，油价企稳，货币和加密货币有所波动，投资者关注 “圣诞老人行情”。

亚市早盘：亚洲股市交投清淡 油价持稳

Under the AI boom, the stock prices of the "Magnificent Seven Sisters" have soared, and it is expected to continue to grow next year. Experts believe that under the promotion of AI projects, tech giants such as Microsoft, Amazon, Alphabet-C, Meta, and NVIDIA will have more innovations and are expected to gain more profits by 2024. These stocks have outperformed the US stock market index, and the journey of AI leaders in the market has just begun.

With the support of the AI boom, the "Magnificent Seven Sisters" of the US stock market are expected to continue soaring in the next year.

首只道琼斯 ETF 发售！年内跨境 ETF 规模同比增 80%。鹏华道琼斯工业平均 ETF 成为国内首只跟踪道琼斯指数的 ETF，共有 107 只跨境 ETF，其中 28 只为新品，截至三季度末，跨境 ETF 规模同比增超 80%。道琼斯 ETF 的发行促进了国内资本市场对外开放，推动了跨境投资发展。