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Employees hide $154 million in accounts. Macy's said that internal control was ineffective. On Thursday, Macy's said that a reassessment of its financial situation showed that as of February this year, the internal control (including proper record maintenance) of the chain department store was not effective. The retailer launched an evaluation at the end of November after discovering that an employee had concealed as much as $154 million in expenses for many years. Therefore, the company postponed the release of the third quarter earnings report until December 11th. Macy's said that under the supervision of the board of directors, Tony Spring, its CEO, and Adrian Mitchell, its chief financial officer, re-evaluated the effectiveness of internal control, and pointed out that its financial report was not effective as of February 3 due to major defects. The department store chain said that it is implementing changes to improve internal control and make up for major defects.The A-share financing balance hit a new high of more than 9 years, and the big consumption sector broke out. According to china securities journal, on December 12, the A-share market opened lower and went higher. At the close, the Shanghai Composite Index rose by nearly 1%, the Shenzhen Composite Index rose by 1% and the Growth Enterprise Market Index rose by more than 1%. More than 3,500 stocks in the entire A-share market rose, with more than 150 stocks trading daily, and the big consumer sector broke out. The market turnover was 1.89 trillion yuan, which has exceeded 1 trillion yuan for 52 consecutive trading days, setting a new record for the A-share market. In terms of funds, Wind data shows that as of December 11th, the financing balance in the A-share market was 1,875.85 billion yuan, a record high of over 9 years. In the first three trading days of this week, the financing balance "increased three times in a row", with a cumulative increase of 22.579 billion yuan. Analysts believe that short-term ample liquidity and optimistic policy expectations are still the main support of the market. In the medium and long term, the A-share market is expected to continue to fluctuate upward under the dual promotion of policy expectations and economic trends.Fang Yi, Chief Strategy Officer of Guotai Junan: The conditions of "transformation cattle" in China stock market are forming four themes, focusing on mergers and acquisitions and self-control. Fang Yi, Chief Analyst of Guotai Junan Strategy, said at the main forum of Guotai Junan 2025 investment strategy that the bottom of China stock market has appeared, and the conditions of "transformation cattle" are forming; The key driving force of the market comes from the decline of risk-free interest rate and the boost of risk preference, and the economic expectation is expected to be revised up in 2025H2; The mid-line of the stock market is expected to get out of the N-rhythm. Theme recommendation: merger and reorganization/self-control/humanoid robot/self-consumption. 1) M&A and reorganization: the regulatory tolerance of cross-border M&A and acquisition of unprofitable assets has been improved, and we are optimistic about the traditional industry leaders who are the main enterprises of science and technology chain and benefit from the optimization of industry structure; 2) Self-control: global science and technology supply chain reconstruction, optimistic about the improvement of localization rate of advanced semiconductors/basic software; 3) Humanoid robot: mass production and application scenario expansion are accelerated, and key components such as dexterous hands/actuators are optimistic; 4) Self-satisfaction consumption: demographic changes have given birth to new consumption patterns, and we are optimistic about the high growth of secondary consumption/pet consumption.

China calls for supporting Afghanistan to rebuild its financial system and eradicate the breeding ground for terrorism. On December 12, local time, the UN Security Council reviewed the situation in Afghanistan, paying attention to the serious restrictions on women's rights and interests in the country and the still insufficient humanitarian funds. The Chinese representative pointed out that Afghanistan is currently at a critical stage of peaceful reconstruction, and the international community should play a better role in solving the outstanding problems facing Afghanistan. Fu Cong, Permanent Representative of China to the United Nations, pointed out that humanitarian relief concerns the vital interests of all Afghan people and must not be used as a bargaining chip for political pressure. China calls on traditional donors to increase capital investment, especially on the United States to unconditionally unfreeze and fully return overseas assets belonging to the Afghan people. Affected by unilateral sanctions, Afghanistan's banking system has been isolated from the international financial system for a long time. Relevant countries should immediately and unconditionally lift illegal unilateral sanctions and support Afghanistan in rebuilding its financial system.Many places support housing consumption in the form of issuing housing subsidies. Recently, many places have taken the form of issuing housing subsidies and optimizing housing provident fund policies to support housing consumption and release housing demand. For example, recently, the General Office of the Government of Guangxi Zhuang Autonomous Region issued "Measures for Promoting the Stable and Healthy Development of the Real Estate Market in Guangxi", which mentioned that "optimizing the housing provident fund policy" and "financial subsidies support the reasonable demand for housing purchase". Shanxi Datong, Hubei Xiangyang, Hubei Xianning and other places have also recently launched relevant measures to support residents' rigid and improved housing demand and boost the real estate market. Zhang Bo, dean of 58 Anjuke Research Institute, said in an interview that the role of promoting housing consumption in "stabilizing the property market" is expected to continue to increase, and more policies will be introduced in the future to help stabilize the property market. (Securities Daily)Goldman Sachs Asset Management announced the liquidation of three exchange-traded funds.

 Suspected of misleading investors and being accused of bundling sales, NVIDIA is frequently involved in anti-monopoly investigations around the world. After China filed an anti-monopoly investigation against NVIDIA a few days ago, on the 12th, this artificial intelligence chip manufacturing giant was once again involved in the judicial turmoil. The US Supreme Court allowed investors to file a class action lawsuit against chipmaker NVIDIA, and rejected NVIDIA's appeal. This is the latest judicial dispute that NVIDIA has fallen into since the French, European Union and China launched an "anti-monopoly investigation" against NVIDIA.Peru's central bank kept its benchmark interest rate unchanged at 5%.