Be in the know. 15 key reads for Wednesday…

  1. Hong Kong’s Hang Seng hits 2024 high as traders warm to ‘un-investable’ China stocks (marketwatch)
  2. Expect Citigroup stock to double by the end of 2026, says Wells Fargo’s Mike Mayo (cnbc)
  3. Hong Kong stocks at five-month highs on corporate optimism as earnings pick up (scmp)
  4. Boeing reports better-than-feared quarter, says supply chain is stabilizing amid 737 Max crisis (cnbc)
  5. EV Woes Crushed This Lithium Stock. Now It Looks Ready to Rally. (barrons)
  6. (Leo Liu) emphasised that Alibaba Cloud would not do price cuts at a loss, describing it as positive behaviour with promising feedback from customers. (aastocks)
  7. Why China’s market slump is far from a crisis (ft)
  8. China Tells Brokers to Limit Exposure to ‘Snowball’ Derivatives (bloomberg)
  9. Tencent Shares Blow Past Magnificent Seven on China Tech Outlook (bloomberg)
  10. Durable-goods orders get boost from autos and planes, but most manufacturers tread water (marketwatch)
  11. “Bloomberg News is reporting that total Mainland China equity ETF buying by China’s sovereign wealth fund was at least $43 billion in Q1 2024 versus only $6.8 billion in the second half of 2023. The report does not touch on individual stock buying. Does this scenario sound familiar? Hopefully, Chinese stocks will follow the same path as Japanese stocks, i.e., higher!” (chinalastnight)
  12. JPMorgan CEO Dimon says US economy is booming (reuters)
  13. Biogen cost cuts drive profit beat, Alzheimer’s drug sales jump (yahoo)
  14. Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes (bloomberg)
  15. Mercedes’ Electric G-Class Plays It Safe Amid Slacking EV Sales (bloomberg)