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Market News Asia-Pacific stocks mixed after US stocks declined. Ark's Cathie Wood: Confidence growing in Tesla, buying more

Asia-Pacific stocks mixed after US stocks declined. Ark's Cathie Wood: Confidence growing in Tesla, buying more

US stocks were mixed yesterday, and Asia-Pacific stocks have fallen more and rose less today. Hong Kong's Hang Seng Index fell by 361.11 points or 1.16%, and closed at 30,723.83 points temporarily in midday; the Nikkei 225 index slightly converged to 93.51 points or 0.31% to 30385.7 points.

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2021-02-18
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In the US stock market, the Dow Jones Industrial Average closed up 90.30 points, or 0.29%, to 3,161,302 points yesterday; the S&P 500 index closed down 1.30 points, or 0.03%, to 3,931.32 points; the Nasdaq closed 82.00 points, or 0.58%, to 13,965.49 points.


Ark's Cathie Wood is optimistic about Tesla


Cathie Wood, founder and CEO of Ark Invest, the female stock god, said on Wednesday that Ark Investment is still optimistic about Tesla and continues to buy its shares.


She said: "We have more and more confidence in Tesla. Carpooling is a more profitable business than electric cars. Even though Tesla has some disputes about whether it should launch a carpooling network, we think it will It is a very good bridge for Tesla's autonomous strategy, and we think they will decide to do so."


According to FactSet data, Ark Invest’s flagship fund, Ark Innovation, received $5.3 billion in capital inflows this year. Tesla is Ark Innovation's largest holding, accounting for more than 8.5% of the total weight of the ETF. "Over time, we learned about their artificial intelligence expertise. No other company can compare the 30 billion miles of real-world driving data they collected. I think Google (GOOG.US) may be 30 million. Compared to 30 billion, we know that in the world of artificial intelligence, the company with the most data and the best data will win.”


QE will remain loose in the future


The United States Federal Reserve (Fed) announced the records of the regular meeting from January 26 to 27, showing that the Fed directors believe that the conditions for the large-scale bond acquisition plan to be reduced are mature. I am afraid it will take some time before 2022. The current quantitative easing (QE) measures add to the question, which means that investors are still expected to enjoy an ultra-loose monetary environment in the next few years.


The Fed stated in the regular meeting record: “Given that the (U.S.) economy is still far from the target, and the judges of the meeting’s directors, it may take some time before substantial further progress is expected.” This reinforces Fed Chairman Jerome Powell’s recent Dovish made a speech. He mentioned last week that the United States is "very far away from reaching a strong labor market with widespread benefits," and the level of employment is still nearly 10 million less than before the COVID-19 outbreak.



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