Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
NIO Inc. Shares Spike on Macquarie Upgrade and Promising Sales Growth
Chinese electric vehicle maker NIO Inc. saw a significant 12.2% surge in Hong Kong trading, reaching HK$46.60 after a Macquarie upgrade from "Neutral" to "Outperform." The stock mirrored a 10.5% overnight jump in NIO’s American Depository Receipts, buoyed by optimism for the company’s third-quarter earnings and an upbeat outlook for the fourth quarter.
Macquarie’s Higher Price Target
Macquarie’s revised target price for NIO rose to HK$65 from HK$52, based on expected strong quarterly earnings and elevated sales forecasts. The firm anticipates that NIO’s fourth-quarter performance will benefit from accelerated sales of its latest mass-market model, the ONVO L60, which launched this year to rival Tesla’s Model Y.
Record Deliveries Amid Competitive Market
Despite a competitive landscape and price pressures, NIO recorded record deliveries of 61,855 vehicles in the third quarter. The ONVO L60 has driven significant sales volumes since its September launch, positioning NIO to continue expanding its market share in the electric vehicle sector.
