27.250High27.170Low29.71KVolume27.250Open27.320Pre Close807.61KTurnover0.27%Turnover Ratio--P/E (Static)10.90MShares30.58152wk High--P/B296.15MFloat Cap23.03052wk Low1.09Dividend TTM10.90MShs Float45.679Historical High4.02%Div YieldTTM0.29%Amplitude20.375Historical Low27.184Avg Price1Lot Size
- Alibaba plans to sell 25 million Xpeng Inc. shares, raising $391 million, reducing its stake from 10.2% to 7.5%.
- It also trims GOGOX stake by 4.7 million shares, decreasing Alibaba's stake to 10.42%.
- China's State Council announces stricter rules for non-bank payment institutions effective May 1, 2024.
- Regulatory uncertainties may delay Ant Group's spin-off.
$BABA-SW(09988.HK)$ $Alibaba(BABA.US)$ $XPeng(XPEV.US)$ $XPENG-W(09868.HK)$ $GOGOX(02246.HK)$
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US Treasury Secretary Janet Yellen plans her second trip to China, emphasizing cooperation in non-sensitive areas like climate and money laundering. Simultaneously, the US Treasury targets Chinese solar panels and EV batteries with clean energy manufacturing subsidy rules.
$XPENG-W(09868.HK)$ $XPeng(XPEV.US)$ $NIO-SW(09866.HK)$ $NIO Inc(NIO.US)$ $NIO Inc. USD OV(NIO.SG)$ $JinkoSolar(JKS.US)$ $BYD COMPANY(01211.HK)$ $BYD Co.(BYDDF.US)$ $Tesla(TSLA.US)$
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UOB KH report.
MSCI China now trades at an undemanding 12-month forward PE of 10.2x, or a 37.0% discount to Emerging Asia. This steep discount is unwarranted and they expect valuation to normalise in 2H23, backed by additional policy support. However, a significant rerating is only possible if credit growth accelerates; hence, their index target is at 74 points for now, implying 12.0x target PE. They prefer exposure to automobiles, co...
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