U.S. Pre-Market Update | Major European and U.S. Indices Rise Across the Board; Institutions Significantly Raise Luckin Coffee’s Price Target

Bloomberg reported that, as the U.S. government seeks ways to finance its ballooning deficit, the U.S. Department of the Treasury will resume issuing 20-year U.S. Treasury bonds in the first half of 2020—marking the return of a bond maturity not issued for 34 years. This is not the first time the Treasury has offered 20-year bonds: it discontinued them in 1986 in favor of 30-year Treasuries, long considered the benchmark “long bond” in U.S. markets. Moreover, between 1955 and 1963, the Treasury issued 40-year bonds; and as far back as 1911, it sold 50-year bonds to help fund construction of the Panama Canal. According to Japan’s Kyodo News, Nissan Motor Co. submitted a report to the Tokyo Stock Exchange on the 16th stating that former Chairman Carlos Ghosn—who faces prosecution under Japan’s Companies Act and other laws—had privately used over ¥400 million (approximately RMB 24.95 million) of Nissan funds to host parties at the Palace of Versailles. The report noted that a joint investigation by Nissan and its French alliance partner Renault revealed Ghosn had also drawn at least €3.9 million from their jointly managed company to cover expenses including Rio de Janeiro’s Carnival, guest invitations to the Cannes Film Festival, and purchases of high-end Cartier gifts. Germany’s Federal Statistical Office announced on the 16th that the country’s annual inflation rate fell to 1.4% in 2019, down from 1.9% in 2018 and 1.8% in 2017. Data showed Germany’s December 2019 inflation rate stood at 1.5%; excluding energy prices, the month’s inflation rate was 1.8%. Food prices rose 2.1% year-on-year, with meat and meat products posting particularly sharp increases. H&M, the world’s second-largest fashion retailer, announced on Friday that it plans to expand into Central America, opening its first store in Panama by the end of 2020. H&M currently operates in 73 markets, with 50 online markets and physical stores. In a statement, the company said it will operate in Central America via a franchise agreement with Panama-based Hola Moda S.A. Key Events to Watch: 18:00 — Eurozone December 2019 CPI Annual Rate; 21:30 — U.S. December 2019 Total Building Permits; 23:00 — U.S. November 2019 JOLTS Job Openings, University of Michigan January Consumer Expectations Index, University of Michigan January Consumer Sentiment Index; Notable Rating Changes: Upgrades: Barclays upgraded Ericsson from “Hold” to “Overweight”;

Absurd! Can an accusation by a tiny U.S. company really knock China’s A-share market flat today?

Can an accusation by a tiny U.S. company knock China’s A-share market flat? US Conec, Ltd., a U.S. company, filed a complaint with the U.S. International Trade Commission (USITC) under Section 337 of the U.S. Tariff Act of 1930, alleging that certain fiber-optic connectors, adapters, jump cables, patch cords, products containing them, and related components imported into or sold in the United States infringe its patents. The company requested initiation of a Section 337 investigation and issuance of a general exclusion order, limited exclusion order, and cease-and-desist order. Five Chinese companies are named respondents. Why highlight this? Optical transceivers were somewhat innocent today. Though optical transceivers play a vital role in fiber-optic communication systems, they do not fall directly within the five product categories listed above. While optical transceivers typically incorporate fiber-optic connectors as interface components, they are far more complex electronic devices featuring optoelectronic conversion functionality—not merely simple components for connecting or transmitting optical signals. Thus, optical transceivers do not directly correspond to the product categories targeted in US Conec, Ltd.’s Section 337 complaint. Frozen assets exceeding RMB 10 billion! Has Country Garden followed Wanda’s footsteps? On March 25, following the freezing of Wanda Commercial Management’s equity valued at RMB 16.2 billion, real estate giant Country Garden also reportedly faced asset freezes. According to TianYanCha legal litigation data, Country Garden Real Estate Group Co., Ltd. recently added multiple new equity freeze entries. Frozen entities include Shenzhen Paladine Phase V Equity Investment Partnership (Limited Partnership) and Shenzhen Huixin No. 22 Investment Consulting Partnership (Limited Partnership), with frozen equity amounts ranging from RMB 39 million to RMB 6.705 billion—totaling over RMB 10 billion in frozen equity. We have repeatedly emphasized that no matter how vigorously policymakers attempt to revive property developers, the key lies in recovery at the sales end: only when developers restore their own “blood-making” capacity can they survive. Moreover, well before widespread debt defaults occurred, Country Garden had already donated its shareholdings—ostensibly for charitable purposes—to a Hong Kong–based charity foundation controlled by its founding family—a move that, viewed objectively, appears to lack sincerity. CATL: Collaborating with Tesla to Develop Faster-Charging Batteries According to a Bloomberg report dated March 25, Zeng Yiqun, Chairman of Contemporary Amperex Technology Co. Limited (CATL), stated in an interview that CATL is collaborating with Tesla to develop fast-charging batteries for electric vehicles. Zeng revealed that both parties are jointly researching novel electrochemical structures and other battery technologies aimed at accelerating charging speeds. He further noted that CATL is supplying equipment to Tesla’s Nevada factory in the United States. Notably, Mizuho Securities downgraded Tesla’s rating from “Buy” to “Neutral,” lowering its price target from USD 270 to USD 195. Leapmotor: Achieved RMB 16.75 Billion in Revenue in 2023; Gross Margin and Operating Cash Flow Turned Positive for the First Time Leapmotor released its full-year 2023 financial results.

Mizuho cuts target for Element Solutions stock to USD 42.00

Oct 5, 2026

Mizuho cut its price target for Element Solutions to USD 42.00 despite strong Q2 performance driven by AI infrastructure electronics growth. Management raised full-year EBITDA guidance, though the analyst maintained a Neutral rating with a selective valuation approach.

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