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May 10 local timeZyngapoker500millionchipsfreeThe three major indexes of US stocks closed mixed, with the Dow up 0.Zyngapoker500millionchipsfree.32%, the Japanese line recorded eight consecutive gains; the S & P 500 index rose 0.Zyngapoker500millionchipsfree.16%; the Nasdaq fell 0.03%.
Most large technology stocks fell, Tesla fell more than 2%, Amazon fell more than 1%, Intel, Apple, Netflix and Google fell slightly, Nvidia rose more than 1%, Microsoft and Meta rose slightly.
Most of the hot Chinese stocks fell, with the Nasdaq China Golden Dragon Index falling 0.58% and 1.93% this week. Xiaopeng fell by more than 5%, Weilai by more than 4%, ideal car by more than 2%, Baidu and Futu Holdings by more than 1%, iqiyi, JD.com, Weibo, Tencent Music and pinduoduo fell slightly. Alibaba, VIPSHOP, bilibili, Man Bang and NetEase rose slightly.
Novax Pharmaceuticals rose nearly 99%.
Novax Pharmaceuticals rose more than 135% at one point after trading, the biggest one-day gain since the company's IPO in the United States. Novax Pharmaceuticals closed at $8.88, an increase of 98.66%, with a market capitalization of $1.247 billion.
According to the news, Novax, a US vaccine development and biotechnology company, announced on Friday local time that it had reached a cooperation agreement worth more than $1 billion with French pharmaceutical giant Sanofi.
According to public data, Novax Pharmaceutical is a new clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of nanoparticle recombinant vaccines and adjuvants.
According to the announcement, Novax and Sanofi have reached a licensing agreement worth up to 1.2 billion US dollars, including the joint commercialization of COVID-19 and flu vaccines. Starting from next year, the two sides will jointly commercialize the COVID-19 vaccine of Novax Pharmaceutical, and jointly develop a combined vaccine against COVID-19 and influenza.
As part of the deal, Sanofi will buy a 4.9 per cent stake in Novax for $70 million.
In addition, Sanofi will pay Novax $500 million in cash as an advance and an additional payment of up to $700 million when development, regulatory and listing milestones are reached.
Polar krypton rose 34.57% on the first day of listing on the New York Stock Exchange.
ZK opened at $26 on its first day of trading, up 23.8% from its offering price of $2.1 billion at the top of the guidance range. It was up nearly 40% in intraday trading and closed up 34.57% at $28.26, with a market capitalization of $6.898 billion.
On May 10, local time, Polar Krypton officially landed on the New York Stock Exchange under the symbol "ZK". As a result of being oversubscribed, Polar Krypton expanded the size of IPO by issuing a cumulative total of 21 million American depositary shares (ADS, 10 common shares per ADS) at a price of $21 per share, raising approximately $441 million. If the underwriter exercises its over-allotment right, the issue will be further expanded to 24.15 million ADS shares, raising approximately $507 million.
It is reported that polar krypton is the fourth Chinese new energy car company to enter the US stock market. It is worth noting that since the brand was launched on April 15, 2021, it has only taken 37 months for polar krypton to enter the capital market, setting a new record for the fastest listing in the history of Chinese new energy vehicle companies.
An Conghui, president of Geely Holdings Group and CEO of Polar Krypton Intelligent Technology, said that in 37 months, Polar Krypton broke the record for the fastest launch of a new energy vehicle brand to IPO, according to the Securities Times. Behind this is the 37-year accumulation of our parent company Geely Holdings Group, and the groundbreaking exploration of the third track of the new energy automobile industry. Polar Krypton will take the listing as an opportunity to further upgrade the governance structure, achieve global compliance, transparent and sustainable development, create the most extreme experience of travel life with global users, and bring stable long-term value for investors.
According to public information, on May 1, 2024, polar krypton announced the latest delivery.Zyngapoker500millionchipsfree16089 units were delivered in April 2024, an increase of 99% over the same period last year and 24% month-on-month, setting another all-time high. From January to April, it increased by 111% compared with the same period last year, ranking first among Chinese pure electricity brands in sales of more than 200000. Polar krypton accumulatively delivered more than 240000 batteries (zero spontaneous combustion), continuously refreshing the global safety limit for electric vehicles.
International gold prices rise Fed officials: interest rates will be cut by the end of the year
Gold futures for June delivery on the New York Mercantile Exchange rose 1.5% to close at $2375 an ounce. Gold prices are up 2.9% this week, the best weekly gain since April 19.
According to the China Securities Journal, UBS said that although gold prices may be slightly weakened by strong US economic data in the short term, gold prices still have a basis to rise in the long run. Gold prices will reach $2500 an ounce between the end of 2024 and early 2025. However, there may be frequent brief corrections in the gold market, and investors need to be vigilant and adjust their investment strategies accordingly.
Bowman, governor of the Federal Reserve and a member of the Federal Reserve Open Market Committee (FOMC), said on May 10 that Fed policy should be carried out cautiously and cautiously.
On the same day, Atlanta Fed Chairman Bostick said in an interview that although the timing and extent of policy easing are uncertain and the rate of further decline in inflation is slow, the Fed may still cut interest rates as planned this year.
Mr Bostick said conversations with companies in his southeastern Fed region suggested that wage and job growth was likely to slow and that most companies believed their pricing power was declining after rapid price rises pushed inflation to a 40-year high in 2022.
The Daily Economic News integrates China Securities News, Securities Times and public information.
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Source: visual China-VCG211300009287