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Here's what happened in China's markets last trade day (11/27):
1. China's CSI 300 Index to Include More Tech Firms
China's CSI 300 Index, akin to the S&P 500, is set to include more technology-related companies in its bi-annual review. This move reflects China's evolving economy driven by technological advancements. Chip industry leaders like Cambricon Technologies, Empyrean Technology, and Hygon Information Technology will be added, aiming to balance the index, currently skewed towards fina...
China's CSI 300 Index, akin to the S&P 500, is set to include more technology-related companies in its bi-annual review. This move reflects China's evolving economy driven by technological advancements. Chip industry leaders like Cambricon Technologies, Empyrean Technology, and Hygon Information Technology will be added, aiming to balance the index, currently skewed towards fina...
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MEITUAN Plummets 4%+ to 52-Wk Low Pre-results
$MEITUAN-W(03690.HK$ will announce its 3Q results after market close today (28th).
The stock suffered a fall for the 3rd consecutive trading day. After opening 0.6% higher at $109.3 this morning, it turned down and dropped to $103.6 in the afternoon, hitting a 52-week low. It now trades at $103.9, down 4.3%, with 22.5932 million shares traded, involving $2.389 billion.
While MEITUAN's takeaway order volume may be affected by macroeconomic and subsi...
The stock suffered a fall for the 3rd consecutive trading day. After opening 0.6% higher at $109.3 this morning, it turned down and dropped to $103.6 in the afternoon, hitting a 52-week low. It now trades at $103.9, down 4.3%, with 22.5932 million shares traded, involving $2.389 billion.
While MEITUAN's takeaway order volume may be affected by macroeconomic and subsi...
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Here's what happened in China's markets last trade day (11/22):
1. Jack Ma's Shift in Share Plans:
Jack Ma's family trusts reconsider selling 10 million Alibaba shares.
Planned disposal impacted Alibaba's stock, despite good quarterly results.
Jack Ma intends to retain his Alibaba stake, citing undervaluation.
The company declared a $1 cash dividend for the quarter.
$BABA-SW(09988.HK$$Alibaba(BABA.US$
2. Upcoming IPOs for CATL and SHEIN:
CATL, a leading EV battery supplier, co...
Jack Ma's family trusts reconsider selling 10 million Alibaba shares.
Planned disposal impacted Alibaba's stock, despite good quarterly results.
Jack Ma intends to retain his Alibaba stake, citing undervaluation.
The company declared a $1 cash dividend for the quarter.
$BABA-SW(09988.HK$$Alibaba(BABA.US$
2. Upcoming IPOs for CATL and SHEIN:
CATL, a leading EV battery supplier, co...
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ByteDance asserts more power within China’s BAT tech grouping as revenue growth beats Tencent, Alibaba: report
Key Information:
- ByteDance surpasses Baidu in China's BAT tech grouping.
- Q2 2023 revenue reaches $29 billion, a 40% YoY surge.
- ByteDance's growth outpaces Tencent and Alibaba, surpassing Tencent in total sales.
- ByteDance's H1 sales hit $54 billion, nearing Meta Platforms' $60.6 billion.
- ByteDance's aggressive push into online shopping contributes to growth.
- Tencent reports a...
- ByteDance surpasses Baidu in China's BAT tech grouping.
- Q2 2023 revenue reaches $29 billion, a 40% YoY surge.
- ByteDance's growth outpaces Tencent and Alibaba, surpassing Tencent in total sales.
- ByteDance's H1 sales hit $54 billion, nearing Meta Platforms' $60.6 billion.
- ByteDance's aggressive push into online shopping contributes to growth.
- Tencent reports a...
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$Hang Seng TECH Index(800700.HK$ +1.5% with little help from majors like $BABA-SW(09988.HK$$MEITUAN-W(03690.HK$ . Still some overhang and confusion with Jack Ma's sale-no-sale statement. But as expected, the HSTI still has some short-term upside left (~7%). Looks like it's going to be led by EVs and AIs including $LI AUTO-W(02015.HK$$XPENG-W(09868.HK$$BIDU-SW(09888.HK$$NIO-SW(09866.HK$ which are getting investors most excited when looking at China.
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M Stanley's Top Pick Switches from Alibaba to TENCENT; Latter's Rating Restated at Overweight
Morgan Stanley remarked in a report that it expected TENCENT's natural growth in margins to be sustainable, with steady growth in its video account advertising business and potential to boost shareholder returns.
The broker maintained its Overweight rating and target price of $430 on TENCENT, reflecting 15x core P/E ratio for next year. TENCENT also replaced Alibaba as the broker's top pick.
The bro...
The broker maintained its Overweight rating and target price of $430 on TENCENT, reflecting 15x core P/E ratio for next year. TENCENT also replaced Alibaba as the broker's top pick.
The bro...
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Brokers' TPs & Opinions on JD-SW After 3Q Results Ann
Ratings and target prices of JD-SW given by 4 brokers:
Broker│Rating│Target price
Jefferies│Buy│HK$312
Goldman Sachs│Buy│HK$205
Macquarie│Buy│HK$124 -> HK$125
JPMorgan│Neutral│HK$120
Broker│Rating│Target price
Jefferies│Buy│US$80
Goldman Sachs│Buy│US$53
Citi│Buy│US$43
UBS│Buy│US$39
Morgan Stanley│Equalweight│US$32 -> US$33
JPMorgan│Neutral│US$31
Macquarie│Neutral│US$31
Broker│Opinion
Jefferies│Revenue and earnings growth in 3Q beat, laying ...
Broker│Rating│Target price
Jefferies│Buy│HK$312
Goldman Sachs│Buy│HK$205
Macquarie│Buy│HK$124 -> HK$125
JPMorgan│Neutral│HK$120
Broker│Rating│Target price
Jefferies│Buy│US$80
Goldman Sachs│Buy│US$53
Citi│Buy│US$43
UBS│Buy│US$39
Morgan Stanley│Equalweight│US$32 -> US$33
JPMorgan│Neutral│US$31
Macquarie│Neutral│US$31
Broker│Opinion
Jefferies│Revenue and earnings growth in 3Q beat, laying ...
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Baidu's 3Q results
Revenue 34.45 billion yuan, vs Est. 34.21 blnAdjusted profit per ADS 20.4 yuan, vs Est. 17.61 yuanAdjusted EPS +21% $2.80 vs. $2.34 (Major BEAT)Free Cash Flow $822MOperating Cash Flow $1.31B$KraneShares CSI China Internet ETF(KWEB.US$$BIDU-SW(09888.HK$$Baidu(BIDU.US$$Chatgpt Concept(BK1347.HK$$ChatGPT(BK2136.US$
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XIAOMI Grants 47.06M Award Shrs
$XIAOMI-W(01810.HK$ announced that the Company awarded a total of 47.06 million Award Shares to 812 Selected Participants, which include employees and service providers of the Group, under the 2023 Share Scheme. The closing price of the Award Shares on the date of grant was HK$15.380 per Share.
$XIAOMI-WR(81810.HK$$Xiaomi Corp. Unsponsored ADR Class B(XIACY.US$$Xiaomi Corp.(XIACF.US$$KraneShares CSI China Internet ETF(KWEB.US$$Hang Seng Index(800000.HK$
$XIAOMI-WR(81810.HK$$Xiaomi Corp. Unsponsored ADR Class B(XIACY.US$$Xiaomi Corp.(XIACF.US$$KraneShares CSI China Internet ETF(KWEB.US$$Hang Seng Index(800000.HK$
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The Chinese stock market closed down.
Benchmark $SSE Composite Index(800146.HK$ drops 0.79%, $Shenzhen Component Index(399001.SZ$ falls 1.4% and $CSI 300 Index(800122.HK$ drops 1.02%.
Meanwhile, the Beijing Stock Exchange 50 Index rallied by 8%, and small-cap stocks won today.
$Hang Seng Index(800000.HK$
$Hang Seng TECH Index(800700.HK$
Meanwhile, the Beijing Stock Exchange 50 Index rallied by 8%, and small-cap stocks won today.
$Hang Seng Index(800000.HK$
$Hang Seng TECH Index(800700.HK$
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