Guotai CSI All Share Investment Banking & Brokerage ETF

Huatai Securities Announces Issuance of 8 Billion Yuan Short-term Corporate Bond

Hygon Information Unveils World's First Post-Quantum Cryptography Smooth Migration Solution

CICC Reduces Holdings in Han's CNC by 2.53 Million Shares on May 14, Raising About 362 Million HKD

GF Securities completes 5 billion yuan perpetual subordinated bond issuance at coupon rate of 2.09%

CICC Merger with Dongxing and Cinda Securities Verified: Control Unchanged, Central Huijin Remains Controller

CICC Completes 3 Billion RMB Bond Issuance: Series I Rate 1.47%, Series II Rate 1.69%

Ding Xuexiang Inspects Computing Power Network Construction: Emphasizes Electricity-Computing Synergy and Green Power Direct Connection, Ensures Energy Supply

CITIC Securities Subsidiary Issues $10M Notes and Discloses Over 210Billion in Guarantees

Bank Bond Holdings Break 10 Trillion Yuan, Establishing Dual-Drive Financing Pattern of Credit and Bonds

Pakistan Successfully Issues First Non-Fully Guaranteed Panda Bond with Support from AIIB and ADB

GF Securities' '26 GF D5' Corporate Bonds to List on SZSE on May 18

Orient Securities to Acquire 100% of Shanghai Securities, Combined Assets Reach 582.7 Billion

CICC Receives AAA Credit Rating with Stable Outlook, Set to Issue Corporate Bonds

GF Securities Obtains AAA Credit Rating and Issues Perpetual Subordinated Bonds

GF Securities Prices and Issues Short-Term Corporate Bonds

Securities Firms' Proprietary Trading Revenue Surpasses 22.5 Billion Yuan

CGB Securities Publicly Issued Corporate Bonds to Professional Investors

CITIC Securities: Pharmaceutical Industry Listed as Emerging Pillar Industry, Innovation Drugs and Equipment Drive Performance Recovery

CICC Wins Bid for Zhejiang Transportation Investment Group Bond Underwriting Project

Eastern Securities Plans Mega Merger with Shanghai Securities

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CITIC Securities forecasts a structural bull market for A-shares in late 2026, driven by structural prosperity and concentrated capital. Investors are advised to adopt a strategy focused on 'prosperity as the main theme,' emphasizing two key areas: 'computing power bull' and 'recovery bull.' The AI computing power sector is not yet in a bubble, while the recovery bull is supported by 'PPI-external demand.'

CoinLive

CITIC Securities Co., Ltd.

E Fund CSI STAR&CHINEXT Artificial Intelligence ETF

Yinhua CSI All Share Investment Banking & Brokerage ETF

E Fund CSI 300 Financials (ex Banks) ETF

E Fund Artificial Intelligence ETF

Hwabao WP CSI All Share Investment Banking & Brokerage ETF

Hwabao WP SZSE ChiNext Artificial Intelligence ETF

Guotai SZSE ChiNext Artificial Intelligence ETF

CITIC SEC

STOCKS | CITIC Securities Predicts Structural Bull Market for A-Shares in Late 2026

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UBS and Morgan Stanley have issued positive outlooks on Chinese equities, highlighting earnings recovery, AI momentum, and low sensitivity to oil price swings. The Shanghai Composite has reached an 11-year high, with China's economy growing 5% year-on-year in Q1. UBS noted that China's power sector relies on oil and gas for only 3% of its needs, providing a buffer against oil price volatility. Morgan Stanley projected significant growth in China's AI sector, estimating it could add 3 percentage points to productivity and boost GDP by 3.5 points by 2035.

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SSE Index

Morgan Stanley

UBS Group AG

Hwabao WP CSI Banks ETF

WP CSI Banks ETF

Fullgoal CSI 800 Banks ETF

ChinaAMC CSI Banks ETF

Huaan CSI Banks ETF

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MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

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MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

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UBS and Morgan Stanley bullish on Chinese stocks amid AI and resilience story

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April's inflation rate has surged, with a three-month annualized rate of 7.1%, prompting calls for decisive action from new Fed Chair Kevin Warsh. The Consumer Price Index shows a year-over-year increase of 3.8%, significantly above the Fed's 2% target. Rising energy costs, driven by the Iran war, are contributing to this inflation spike. The Fed has maintained steady rates, but economists warn that inaction could lead to entrenched inflation expectations. Monetary policy rules suggest a federal funds rate target above 5%, indicating a need for rate increases to combat rising inflation effectively.

- The article discusses the urgent need for decisive action from new Federal Reserve Chairman Kevin Walsh regarding inflation and interest rates, especially given the rising three-month annualized inflation rate of 7.1%.  
- It highlights growing concerns among Americans about living costs, evidenced by dissatisfaction with the current administration's handling of inflation, and notes that supply shocks, particularly from the Iran conflict, are exacerbating price increases.  
- The author argues that without a clear data-driven policy, the Fed risks further escalating inflation expectations, leading to higher borrowing costs and diminished affordability for households.

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Texas Capital Government Mny Mkt ETF

iShares Gold Trust

Sprott GLD Miners Etf

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Financial Select Sector SPDR Fund

VanEck Gold Miners ETF

ISHRS Us Brokers & Sec Exchg

GLOBAL X Gold Explorers

Direxion Daily Gold Miners Bull 2X

iShares MSCI Global Gold Miners

SPDR Gold Minishares

Abrdn Gold ETF Trust

Invesco DB US Dollar Index Bullish Fund

SPDR S&P Software

Pro Ultr GLD

Fidelity MSCI Financials Index

Roundhill Gold Miners Weeklypay ETF

Dow Jones Industrial Average

April's inflation spike leaves Warsh and the Fed zero excuses not to raise rates

Investors secured 5% yields on 30-year Treasury bonds for the first time since 2007, amid rising energy prices and inflation. A $25B auction awarded bonds at 5.046%, slightly above pre-auction levels, indicating middling demand. The increase in yields reflects bidders' need for higher fixed rates due to inflation risks, exacerbated by the Middle East conflict. The last 30-year bond with a 5% rate was sold in 2007, and since then, rates have not exceeded 4.75%. Recent sales of shorter-term Treasuries also showed weaker demand.

VG Financial

Treasury auctions 5% long bond for first time since 2007

Feds Collins indicated that the Federal Reserve may need to raise interest rates to combat persistent inflation pressures, emphasizing the importance of maintaining a restrictive policy for an extended period. She expressed concerns about inflation not cooling until 2027 and highlighted the risks posed by a prolonged Middle East conflict. While she hopes for potential rate cuts later this year, her overall stance remains hawkish, focusing on the need to anchor inflation expectations amid ongoing economic challenges.

Feds Collins:It’s possible the Fed will need to hike rates to cool inflation pressures

Susan M. Collins, President of the Boston Fed, has expressed her concerns regarding the current inflation outlook. According to Jin10, Collins emphasized the importance of monitoring inflation trends closely to ensure economic stability. Her remarks highlight the ongoing challenges faced by policymakers in managing inflationary pressures.

Fed's Collins Expresses Concern Over Inflation Outlook

Kevin Warsh is set to lead the Federal Reserve with a reform agenda focused on gradual changes to its balance sheet and inflation analysis. His approach may involve a shift back to a more opaque communication style, moving away from the transparency established post-2007-2009 financial crisis. Warsh faces challenges balancing President Trump's rate-cut demands with current economic data, as inflation remains above the Fed's target. Initial steps may include internal reviews and potential changes to bank reserve rules and communication tools, but significant reforms are expected to take time.

Fidelity

Warsh has big plans for the Fed, but results may take time

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Yesterday's closing price for IMAGI INT'L was HKD 3.19, with a trading volume of approximately HKD 49.55 million. For small-cap targets in investment banking and brokerage, this level of trading volume indicates significant capital movement. The MACD daily line formed a golden cross signal above the zero axis, with short-term bullish momentum shifting from accumulation to release, initially confirming upward momentum in this phase. From the perspective of volume-price coordination, the recent increase in trading volume accompanying the rise in stock price indicates that proactive buying is on the rise. On the news front, the overall trading atmosphere in the Hong Kong stock market has warmed up. The Hong Kong Stock Exchange's stock price stabilized above HKD 425 yesterday, with a trading volume exceeding HKD 1.67 billion, indicating that market expectations for improved liquidity in Hong Kong stocks are heating up. With the upcoming meeting between the Chinese and U.S. presidents, market expectations for further deepening of capital market connectivity have increased, and brokerage and investment banking targets are expected to benefit from potential cross-border business growth. In addition, several companies have recently submitted IPO applications for the Hong Kong stock market, and the recovery in primary market activity is a direct boon for investment banking business. From a technical perspective, IMAGI INT'L has gradually emerged from the bottom area, with its stock price now above the short-term moving average system. The appearance of a golden cross above the MACD zero axis indicates that the previous rise was not a single pulse but has formed a trend-driven momentum. The trading volume has significantly increased from previous sluggish levels, with healthy volume coordination. However, it is important to note that as a small-cap target, its liquidity is relatively limited, and intraday price fluctuations may be quite volatile

Technical Forecast

IMAGI INT'L

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Hong Kong Exchanges and Clearing (HKEX)

Pre-market trend | IMAGI INT'L (585.HK) shows significant volume movement on 5/11, can brokerage stocks continue the momentum?

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CME's FedWatch tool shows a 97.7% likelihood that the Federal Reserve will keep interest rates steady through June, with only a 2.3% chance of a 25 basis point cut. By July, the probability of maintaining rates drops slightly to 94.6%, while the chances of a 25 basis point cut rise to 5.4%, and a 50 basis point cut remains at 0.1%.

Bosera S&P 500 ETF

JPMorgan Equity Premium Inc ETF

Guotai S&P 500 ETF(QDII)

CME: Fed Likely to Maintain Rates Through July

The market has factored in expectations that the Federal Reserve will extend its pause on interest rate hikes, with no rate cuts anticipated until December 2027. According to Odaily, this outlook reflects current market sentiment.

Market Anticipates Federal Reserve to Maintain Interest Rates Until December 2027

Guotai CSI All Share Investment Banking & Brokerage ETF(512880.SH)