On November 6, 2024, Donald Trump successfully won the next usa presidential election, a result that not only shocked the global political landscape, but also injected a dose of confidence into the digital currency market.
Trump had shown strong support for digital currencies during the campaign, promising to promote relevant policies to foster the development of that industry. With the announcement of Trump's victory, the digital currency market quickly reacted, with significant price increases in major cryptocurrencies like bitcoin and ethereum, and related concept stocks also saw a rapid rise in stock prices. In the usa under Trump's leadership, the digital currency industry may usher in unprecedented development opportunities.
So, what impact will Trump's successful election have on digital currencies? How can investors build their own trading strategies?
     
What impact will Trump's successful election have on digital currencies?
Firstly, in terms of attitude, Trump's current stance on digital currencies is very positive, and his successful election is expected to boost the development of the digital currency industry.
Trump's attitude towards digital currencies has undergone a complex evolution. During his initial term in office, the Trump administration was skeptical and negative towards digital currencies, believing they lacked intrinsic value and could be easily used for illegal activities.
In the 2024 election, there was a 180-degree shift in Trump's attitude, not only publicly supporting the development of digital currencies, but also stating "ensuring the future of digital currencies and bitcoin occurs in the usa," at the same time during his campaign...

On November 8, 2016, the unexpected election of Donald Trump brought severe shock to the global financial markets, becoming one of the most memorable political events in modern history. Now, as the 2024 election approaches, the market once again faces the test of the "Trump storm". This article will review the changes in the US stock and bond markets after the 2016 election, and discuss the new wave of market fluctuations that the 2024 election may bring. Four years have passed, will history repeat itself, or will there be a transformation in the market? Let's find out.
First, Election Background of 2016 vs. Election Background of 2024
The 2016 US presidential election was an adventurous affair full of uncertainty. At that time, the market generally expected Hillary Clinton to smoothly take office at the White House, but Donald Trump's unexpected victory was like a sudden "black swan" flying out, instantly stirring up the calm of the global capital markets. US stock futures immediately fell in response, with Dow futures plummeting more than 800 points at one point, reflecting investors' anxiety about the unknown policy direction.
However, the atmosphere of the 2024 election today is completely different. As President Trump runs for re-election, the market seems to have prepared in advance, with some expectations already reflected in current trading. This time, investors no longer fear the unknown, but are optimistic about the economic policies the Trump administration may continue, including tax cuts, deregulation, and promoting infrastructure development, among others.
Second, in 2016, the unexpected election of Donald Trump...

Author: Chancy Chen, Licensed Analyst
Meta is about to release its third-quarter financial report after the market closes on October 30th, Eastern Time, with extremely high market attention. According to Bloomberg's unanimous expectations, the company's 24Q3 revenue is expected to increase by 17.83% to $40.235 billion, and diluted EPS is expected to increase by 19.22% to $5.23 year-on-year.
Meta's stock performance this year has been very outstanding, with a price increase of over 60% since the beginning of the year. It is expected that Meta's performance this quarter will still be excellent. How should we plan our investment strategy?
1. Advertising business is expected to be strong, supporting the company's performance to exceed expectations
Advertising revenue is META's main source of income. It is expected that the company's advertising revenue growth rate for this quarter will still be able to maintain a high growth of around 20%, with the advertising revenue growth rate of the previous quarter at about 21%. The reasons are as follows:
1. The strong support of the US economy continues to drive the growth of advertising revenue.
Based on the macroeconomic data of the United States in the third quarter, the retail rates in July, August, and September all achieved month-on-month growth, with a 0.4% increase in retail rates in September compared to the previous month, higher than market expectations. This indicates strong consumer spending in the United States, with virtually no substantial signs of downward trends in the economy. Supported by a robust US economy, advertising prices are expected to continue to rise, and it is anticipated that the advertising revenue for 24Q3 will still perform very well.
Chart: US retail rates as of September 2024 (%)
Source: U.S. Census Bureau...

Key conclusions:
Looking ahead at the electric vehicle business, the delivery volume has resumed growth this quarter. The launch of new models next year is expected to bring about a definite recovery in Tesla's electric vehicle sales growth. However, the competitive landscape remains intense, and the stabilization of the gross margin is still subject to observation.
For Tesla's financial report, the most critical aspect is not the financial performance numbers, especially since the electric vehicle delivery data is released before the financial report. It is instead focused on Elon Musk's remarks during the post-earnings performance call.
Despite the revenue falling short of expectations this quarter, the stock price surged significantly after the earnings conference call. However, the valuation based solely on the electric vehicle business is indeed unable to support the current valuation (forecasted PE ratio of nearly 70 times in 2025). This is because Musk has the ability to convince investors that Tesla's future valuation will derive more from low-cost vehicle models, Robotaxis, or imaginative businesses like Optimus. Looking back at Musk's historical statements and execution, it can be observed that Musk possesses strong execution abilities, which form the core logic supporting Tesla's current valuation.
In the short term, we cannot accurately predict when these technologies will mature or become profitable. The current valuation is not low. If there is uncertainty in the future progress of implementation, the stock price may decline again. However, considering Musk's strong historical track record of execution, we believe Tesla can absorb the valuation over time. But how long this process will take can only be gradually verified over time...

Tesla will release its 2024 third-quarter financial report as of September 30, 2024, after the market close on October 23, 2024, Eastern Time. Over the past few weeks, Tesla's stock price has experienced multiple fluctuations, especially after the sales data announced earlier this month fell below market expectations, and the 'We, Robot' event, these factors combined to lead to a decline in Tesla's stock price.
According to Bloomberg's unanimous expectations, Tesla is expected to report for the third quarter:
- Revenue of $25.534 billion, up 9.36% year-on-year, up 0.14% quarter-on-quarter.
Adjusted net income is $2.055 billion, a year-on-year decrease of 11.28%, and a quarter-on-quarter increase of 13.4%.
Overall, Tesla's performance has grown compared to the previous quarter, maintaining a certain momentum of growth despite facing market competition and technological challenges. However, the year-on-year decline in adjusted net income and earnings per share also reflects the pressure the company is facing during its expansion process.
The focus will at least return to the fundamentals of car manufacturing for now.
Tesla's business structure is mainly divided into three major business segments: automotive business, energy business, and services and other.
- The automotive department includes sales revenue of electric vehicles, leasing revenue, and sales revenue of automotive regulatory credits;
- The energy business covers a full range of solutions from solar energy generation, energy storage to electric vehicle charging. The department's revenue comes from the sales, leasing of related products, and services.
The service and other departments include non-warranty sales...

In the afternoon of October 18, the Hong Kong stock market surged across the board, with the Hang Seng Index rising by 3.61% to close at 20804.11 points; the Technology Index even soared by 5.77% to 4600.85 points. This upward trend not only reflects the positive change in market sentiment, but also the strengthened confidence of investors in future economic growth.
Looking back at recent analysis, after experiencing previous fluctuations, from a medium to long-term perspective, the valuation of Hong Kong stocks, especially the Hang Seng Index and Hang Seng Tech Index, remains at relatively attractive levels. Next, we will analyze the valuation of these two indices in detail and compare them with the valuation of industry sectors in the US stock market, showing that the valuation of Hong Kong stocks is more advantageous.
1. Hang Seng Index
1. PE-TTM
As of October 18th, the price-earnings ratio (PE-TTM) of the Hang Seng Index was 9.78 times, at the 42.61st percentile of historical data for the past decade, below the historical average level, indicating that the current valuation is in a reasonable range.
Chart: Comparison of historical PE-Band of Hang Seng Index, where the red line represents the historical valuation central position.
Source: Wind
2. PB
On the same day, the Hang Seng Index's pb ratio was 0.97 times, which is at the 27.45th percentile of historical data over the past decade, significantly lower than the historical average level, indicating a relatively low valuation and a certain margin of safety.
Chart: Historical PB-Band comparison of the Hang Seng Index, with the red line indicating the historical valuation central position.
Source: Wind...

On Thursday, October 17, global chip manufacturing giant Taiwan Semiconductor released its third-quarter financial report for 2024. The performance in the third quarter was strong, with revenue, net income, and gross margin all surpassing expectations.Especially with the gross margin returning to around 58%, significantly higher than the market expectation (54.8%).The guidance for the next quarter on both revenue and gross margin significantly exceeded market expectations, demonstrating continued strong demand for AI.
1. Demand for AI remains strong, while smart phone demand is recovering.
Q3 net revenue was 759.69 billion New Taiwan dollars, approximately 23.5 billion US dollars, a year-on-year increase of 39%, exceeding the estimated 751.06 billion New Taiwan dollars; however, the revenue surprise was actually lagging behind, as the monthly sales figures for taiwan semiconductor were already well anticipated by the market.Of particular interest is the breakdown of the revenue side, including the demand drivers for revenue and the increase in average selling price.
Chart: Revenue situation of taiwan semiconductor
Source of Information: Company Announcement, Compilation of Futu Securities
Looking at the breakdown of the revenue side, high-performance computing platforms account for 51%, while smart phone revenue accounts for 34%. Compared to the previous quarter, demand for AI remains very strong, with a quarter-on-quarter growth of 11%; while the quarter-on-quarter growth of smart phones reached 16% (compared to -1% in the previous quarter), with a 1% increase in share.Indicating that the demand for smart phones is gradually recovering season by season.
Chart: Sales revenue situation of Taiwan Semiconductor by platform.
Source of Information: Company Announcement, Compilation of Futu Securities
Given the Apple Intelligent...

In today's volatile Chinese asset market, we have witnessed the increased elasticity of multiple asset varieties. High-yield assets have shown a steady upward trend amid the market's large fluctuations. In such a market environment, although filled with uncertainty, it also provides excellent traders who dare to forge ahead with rich opportunities.
Due to the high level of uncertainty in the market itself, we do not recommend specific directions and targets. We simply provide more choices to facilitate everyone's own decisions at the trading level.
1. Varieties suitable for swing trading
If you believe in your logical and data-driven judgment, and can successfully gain insights into human nature, then pursuing the trend and counter-trend swing trading can be considered as an alternative strategy based on behavioral finance principles.
For example, participating in the fluctuations of Chinese technology stocks listed in Hong Kong and the United States through ETFs like Hang Seng Tech Index ETF (03032) or China Internet ETF (KWEB) not only provides a convenient investment channel, but also effectively diversifies the risk of individual stocks, preventing the risk of stock selection failure. It is obvious that this type of variety offers great flexibility (the chart below compares the elasticity of the Hang Seng Tech Index with the Hang Seng Index, where blue represents the Hang Seng Tech Index, and purple represents the Hang Seng Index).
For investors who prefer high volatility and higher risk preferences, triple-long FTSE China ETF (YINN) and triple-short FTSE China ETF (YANG) provide amplified market opportunities.