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Hong Kong-listed Yaojie Ankang-B (02617.HK) continued to rise, surging 117% in late trading and now trading at HK$420 per share.On September 15th, the Dongguan Municipal Development and Reform Bureau and other departments jointly issued the "Several Measures to Support the High-Quality Development of the Low-Altitude Economy in Dongguan." The measures mention accelerating the expansion of low-altitude equipment manufacturing. They promote the implementation of complete aircraft R&D, manufacturing, and operation projects, and vigorously cultivate and introduce companies that develop low-altitude core components and key equipment. The city will focus on key areas such as fixed-wing aircraft, helicopters, new energy drones, flying cars, and eVTOL complete aircraft, as well as key equipment, core components, material development, energy and power systems, flight control systems, heavy-duty payloads, and drone countermeasures. Support will be provided for the development of R&D, manufacturing, and operation projects in the city. For complete aircraft projects and component projects with construction investments (excluding land prices) exceeding 100 million yuan and 50 million yuan, respectively, a one-time subsidy of 10% of the actual project investment will be provided, with a maximum cumulative subsidy of 10 million yuan per enterprise.On September 15th, the Dongguan Municipal Development and Reform Bureau and other departments jointly issued the "Several Measures to Support the High-Quality Development of the Low-Altitude Economy in Dongguan." The measures mention the creation of low-altitude demonstration transportation routes and support for the expansion of drone logistics applications. A one-time subsidy of 150,000 yuan, 300,000 yuan, and 500,000 yuan will be provided for each intra-city route, inter-city route, and Dongguan-Hong Kong cross-border route (with at least one starting or ending point in Dongguan, a distance of at least 10 kilometers, and at least 100 flights per year), respectively.On September 15th, the Dongguan Municipal Development and Reform Bureau and other departments jointly issued the "Several Measures to Support the High-Quality Development of the Low-Altitude Economy in Dongguan." The measures mention support for the construction of low-altitude takeoff and landing infrastructure. They support private investment in new general airports, providing subsidies of 10% of the actual construction investment after completion, with a maximum subsidy of 5 million yuan per project. They also accelerate the construction of supporting ground facilities for helicopters, eVTOLs, and unmanned aerial vehicles. Subsidies of 10% of the actual construction investment after completion will be provided for new or expanded low-altitude takeoff and landing infrastructure with private investment. For small takeoff and landing sites and intelligent takeoff and landing kiosks, subsidies will be provided up to 100,000 yuan per project, with an annual maximum of 3 million yuan per enterprise. For medium- and large-scale takeoff and landing sites, eVTOL landing sites, helicopter landing platforms, and test sites (which must have been in operation for at least one year), subsidies will be provided up to 2 million yuan per project, with an annual maximum of 5 million yuan per enterprise.Hesai (HSAI.O) U.S. stock price rose more than 6% in the night trading. The company signed a lidar order worth more than US$40 million with a Robotaxi company.

NASDAQ, S&P 500, Dow Jones Analysis – Stocks Retreat As Treasury Yields Test Multi

Cory Russell

Feb 07, 2023 16:04

S&P 500

The S&P 500 is still under pressure as Treasury rates continue to rise. Recently, the yield on 10-year Treasuries was able to stabilize above the 50 EMA at 3.59% and is now attempting to go over the 3.65% mark.


Traders continue to concentrate on the most recent Non Farm Payrolls data, which revealed that despite concerns about a recession, the labor market was still in a respectable state. A more assertive Fed, which would be negative for equities, has begun to be priced in by traders.


The yield-sensitive real estate and technology equities are among the greatest losses in today's trading session, which is not unexpected. All market categories are trending down as a result of the widespread decline. Consumer Defensive Stocks perform better when investors look for safe-haven investments.

NASDAQ

As traders continued to take gains after the most recent significant rise, the NASDAQ fell below the 12,500 mark.


Leading tech companies like Apple, Microsoft, and Alphabet are all down 1% to 2% today, which is bad news for the NASDAQ.


Although the RSI has lately left the oversold zone, it is still unclear if traders would accelerate their purchases of tech companies at a time when Treasury rates are sharply climbing.


From session lows, the Dow Jones index rose. The worst-performing Dow Jones component today was Intel, which is down 4%, while Caterpillar had the highest gains.

Dow Jones

Overall, the Dow Jones is consolidated close to the 34,000 mark. As traders concentrated on tech companies throughout the most recent bounce, the index was unable to reach new highs. The Dow Jones excels today because Treasury yield movements have less of an impact on it.

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