☘️The equity market rose on a relatively quiet Monday without significant economic data. Investors should be prepared for a string of substantial financial data.
☘️With the rise of AI trade, investors should become more selective in their choice of the technology sector. We see industries that benefit from the growing demand for AI as beneficiaries. More details will be shared in our market channel.
☘️If you are looking for a Meme trade, look at Hawaiian Electric (HE). The utility giant rose sharply by a whopping 40% on Monday, which is on a significant swing up and down for the past week. The comeback is attributed to HE, indicating that they will defend all the major lawsuits against them due to the significant wildfires in Hawaii this month.
☘️XPeng, a leading Chinese automaker and the likes of BYD, NIO and LI, rose sharply after it announced plans to purchase DiDi Global’s mart auto development business. This comes at a price tag of $744 million. It is one of our favourite tickers.
☘️Equity markets were swinging as traders looked past Uncle Powell’s hawkish speech at the Jackson Hole Symposium. The heightened and sudden roller coaster ride is due primarily to traders looking at the next leadership. The mega caps have contributed to around 75% of the Nasdaq return this year, and if the momentum fizzles, a new group of babies have to support the uptrend rally.
It is 29 August, Tuesday, 9 am in Singapore and 9 pm in New York. We hope you have a splendid trading day and look forward to another safe market movement as we work to wrap up a data-heavy week.
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