Most popular technology stocks rose, with Tesla up over 4% and Microsoft and Meta up over 1%. Precious metals and automobile manufacturing saw the highest growth rates, with gold resources rising by over 10%, gold fields rising by over 9%, Newman Mining rising by over 6%, Lucid rising by over 5%, and Rivian rising by over 4%. Highway transportation and semiconductor material equipment fell, with Daquan New Energy falling by more than 3%, XPO falling by nearly 3%, and Kexiu Semiconductor and Applied Materials falling by more than 1%. Popular Chinese concept stocks fluctuated, with the Nasdaq China Golden Dragon Index falling 0.33%. Pinduoduo rose over 18%, Vipshop and Ideal Auto rose over 1%, while Xiaopeng Motors, NIO, and Manbang saw a slight increase. Baidu fell more than 3%, Bilibili and Weibo fell more than 2%, Futu Holdings, iQiyi, and Alibaba fell more than 1%, while JD.com and NetEase saw a slight decline.
Global News

Is the expectation of the Federal Reserve cutting interest rates heating up again? Deutsche Bank: Lowering interest rates by 175 basis points next year
Deutsche Bank economists warned in a report released on November 27th that as the US economy enters a mild recession in the first half of next year, the Federal Reserve's rate cuts will exceed market expectations. It is expected that the Federal Reserve will cut interest rates by 50 basis points in June 2024, marking the beginning of the rate reduction cycle, with a rate cut of 175 basis points next year.
OPEC+has not yet reached an agreement on the dispute over African oil production quotas
On November 28th, representatives stated that the OPEC+has not made progress on the issue of oil production quotas stalemate among African member states. Some representatives have stated that the deadlock may not be broken before the OPEC+meeting scheduled for November 30th, and the meeting may need to be further postponed.
St. Louis Federal Reserve: It is expected that the Federal Reserve will resume remittances to the Treasury Department after mid-2027
While the Federal Reserve has suppressed inflation through its most aggressive tightening cycle in 40 years, the rapid rise in interest rates has also led to an increase in its interest costs, causing the Federal Reserve to gradually struggle to make ends meet and suffer operational losses. How long will it take for the Federal Reserve to fill this gap? A study by the St. Louis Federal Reserve in the United States shows that it is expected to take nearly four more years for the Federal Reserve to make up for operating losses and begin resubmitting profits to the US Treasury.
18 countries including the United States and the United Kingdom have signed AI security guidelines. US officials: Security should be ensured during design
Jane Eastley, Director of the United States Agency for Cybersecurity and Infrastructure Security, stated that given the potential threats posed by the rapid development of artificial intelligence (AI), it is necessary to incorporate security measures into the system from the outset rather than adding them afterwards.
Company News
Tesla FSD V12 fully utilizes neural networks! Securities firms: may cause significant disruption to the autonomous driving industry
While other car companies are still relying on sensors such as LiDAR to launch assistance/autonomous driving functions for users, Tesla has begun to rely on neural networks and artificial intelligence for so-called fully autonomous driving.
Pinduoduo's revenue in the third quarter exceeded expectations by 68.8 billion yuan
Pinduoduo announced on November 28th that its revenue in the third quarter was 68.84 billion yuan, a year-on-year increase of 94%; The adjusted earnings per ADS in the third quarter are 11.61 yuan. Pinduoduo's non GAAP net profit in the third quarter was 17.027 billion yuan, a year-on-year increase of 37%.
Amazon surpasses United Parcel and FedEx for the first time to become the leader in the US logistics industry
According to Amazon's latest internal data, this e-commerce giant's annual delivery volume in the United States has surpassed its competitors for the first time. It is expected to ship a total of 4.8 billion packages before Black Friday and Network Monday, and is expected to reach approximately 5.9 billion packages by the end of 2023. By contrast, United Parcel had approximately 3.4 billion packages in the United States in the first nine months of this year, and it is expected that the total number in 2023 will not exceed last year's 5.3 billion.
Xiaopeng Motors: Official full promotion of intelligent driving in cities without maps
According to the official WeChat account of Xiaopeng Motors on November 28th, Xiaopeng's advanced urban assisted driving without a map has been officially launched in multiple cities.