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News
Wall Street: Taobao and Tmall performed strongly during the 618 promotion, with the expected GMV growth rate exceeding 10%.
Bloomberg Intelligence released a report on June 19th analyzing China's 618 e-commerce promotion. It is expected that Alibaba's Taobao and Tmall will see a GMV growth of over 10% during this year's 618 cycle, reflecting the new management's initial success in responding to competition in China's e-commerce market. The report was jointly completed by Bloomberg senior analysts Catherine Lim and Trini Tan, who predict that five Chinese e-commerce platforms, including Taobao and Tmall, JD.com, Douyin, PDD Holdings, and Kuaishou, will see an overall growth rate of approximately 10% during this year's 618 promotion.
Market Chatter: JD.com, Xiaomi, Alibaba Record High Sales During 618 Festival
Online shopping platforms in China logged high sales during the 618 shopping festival, Yicai Global reported Wednesday. The number of orders receive by JD.com's (HKG:9618) livestreaming platform tripl
[Exclusive Big V] Deng Shengxing: The tension in the Middle East continues, and the oil price has reached a seven-week high.
Jingu financial news | The Hang Seng index closed at 18430 on Wednesday (19th), up 514 points or 2.9%. The total daily turnover of the market was 112.758 billion yuan. The national index rose 219 points or 3.5% to 6587; the Science and Technology index rose 135 points or 3.7% to 3832. The overall blue chips were good, with only two blue chips down for the whole day. Tencent (00700) rose 3.2%; Alibaba (09988) rose 2.9%; Hong Kong Stock Exchange (00388) rose 2.8%; the overall automobile stocks were good. Geely (00175) rose 3.9%; Chang'an (02333) rose 4.8%; Dow Jones on Wednesday (19th)
Hong Kong Shares Rebound 2.9% Amid Positive Sentiment
Hong Kong's Hang Seng Index extended early gains to close 2.9% higher at 18430.39. There could be some optimism among investors that more may be done by the Chinese authorities in 2H, IG market strate
Brokerage Focus: CMB International points out that China's internet-related performance in the first quarter as well as industry performance are in line with expectations. Pay attention to three main lines when selecting stocks.
Zhaojin Financial News | CICC International stated that in the review of the performance and industry 1Q24 results of China's Internet sector since the beginning of the year, the Internet sector has retreated to some extent after a relatively rapid rise under the boost of emotional improvement and short-term capital inflows, which is in line with the bank's previous expectations. From the perspective of stock selection throughout the year, with the interest rate cut trading not yet trending, and with liquidity still tight, the bank recommends selecting stocks around three main lines:
Market Chatter: Alibaba, Xiaohongshu See Growth in 618 Shopping Festival
Alibaba Group Holding (HKG:9988) and Xiaohongshu have registered growth during the 618 midyear online shopping bonanza, the South China Morning Post reported Saturday. Alibaba's Taobao and Tmall said
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Taobao Live, part of Alibaba, reported 81 livestream rooms with over a million yuan in sales, a 53% increase year-on-year as of June 18.
This year's 618 shopping festival saw brands and merchants significantly increase their investment in live broadcasting, with 47 stores achieving over RMB 100 million in live broadcast turnover.
$ALIBABA GROUP HOLDING LTD(BABAF.US$ $Alibaba(BABA.US$ $BABA-SW(09988.HK$
This year's 618 shopping festival saw brands and merchants significantly increase their investment in live broadcasting, with 47 stores achieving over RMB 100 million in live broadcast turnover.
$ALIBABA GROUP HOLDING LTD(BABAF.US$ $Alibaba(BABA.US$ $BABA-SW(09988.HK$
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Fitch Ratings raises the 2024 global economic growth to 2.6% from 2.4%, citing improved confidence in Europe's recovery, Chinese export rebounds and stronger momentum in emerging markets.
Fitch keeps its US forecast at 2.1% and raises the China forecast to 4.8% from 4.5%.
$KraneShares CSI China Internet ETF(KWEB.US$ $NASDAQ Golden Dragon China(.HXC.US$ $Global X MSCI China Consumer Discretionary ETF(CHIQ.US$ $BABA-SW(09988.HK$ $MEITUAN-W(03690.HK$
Fitch keeps its US forecast at 2.1% and raises the China forecast to 4.8% from 4.5%.
$KraneShares CSI China Internet ETF(KWEB.US$ $NASDAQ Golden Dragon China(.HXC.US$ $Global X MSCI China Consumer Discretionary ETF(CHIQ.US$ $BABA-SW(09988.HK$ $MEITUAN-W(03690.HK$
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Christopher Hui stated that Hong Kong stocks already have RMB counters, with 24 major stocks available for trading in both HKD and RMB. Close negotiations with mainland regulators are underway to enable mainland investors to directly purchase RMB-denominated stocks listed in Hong Kong, integrating RMB counters into the Stock Connect program.
$HKEX(00388.HK$ $HSBC HOLDINGS(00005.HK$ $BABA-SW(09988.HK$ $TENCENT(00700.HK$ $XIAOMI-W(01810.HK$ $XIAOMI-W(01810.HK$
$HKEX(00388.HK$ $HSBC HOLDINGS(00005.HK$ $BABA-SW(09988.HK$ $TENCENT(00700.HK$ $XIAOMI-W(01810.HK$ $XIAOMI-W(01810.HK$
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Market Growth: Between May 20 and June 3, Chinese e-commerce platforms saw double-digit YoY growth in daily active users.
Simplified Sales: Platforms simplified 618 shopping festival sales, eliminating pre-sale segments and offering early discounts, boosting GMV in May.
Platform Performance:
Taobao Tmall ( $BABA-SW(09988.HK$ ): 370,000 small and medium-sized merchants more than doubled GMV YoY on...
Simplified Sales: Platforms simplified 618 shopping festival sales, eliminating pre-sale segments and offering early discounts, boosting GMV in May.
Platform Performance:
Taobao Tmall ( $BABA-SW(09988.HK$ ): 370,000 small and medium-sized merchants more than doubled GMV YoY on...
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Exports and manufacturing are expected to be the main drivers, while consumption remains relatively weak.
Excess deposits on the mainland account for around 15% of GDP, reflecting weak market confidence. The government is expected to focus on boosting consumption in the second half of the year.
$BABA-SW(09988.HK$ $TENCENT(00700.HK$ $Hang Seng Index(800000.HK$ $XIAOMI-W(01810.HK$ $KraneShares CSI China Internet ETF(KWEB.US$
Excess deposits on the mainland account for around 15% of GDP, reflecting weak market confidence. The government is expected to focus on boosting consumption in the second half of the year.
$BABA-SW(09988.HK$ $TENCENT(00700.HK$ $Hang Seng Index(800000.HK$ $XIAOMI-W(01810.HK$ $KraneShares CSI China Internet ETF(KWEB.US$
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