The central bank has launched two measures at the same time! The reserve requirement ratio is reduced by 0.5 percentage points, and the 7-day reverse repurchase operation interest rate is lowered by 20 basis points.
Starting from September 27, 2024, the reserve requirement ratio for financial institutions is reduced by 0.5 percentage points. After this reduction, the weighted average reserve requirement ratio for financial institutions is approximately 6.6%.
Alibaba Cloud collaborates with nvidia to challenge the key level of 100 Hong Kong dollars in stock price.
This week, the stock market experienced a surge, with technology stocks particularly shining in the Hong Kong stock market. Alibaba (09988) rose more than 13% this week. According to news from earlier this week, Alibaba Cloud announced at its annual flagship event Yunqi Conference that its self-developed Tongyi Large Model, a generative AI platform called 'Bailian,' has served over 0.3 million customers, a significant increase from the 0.09 million customers in May this year. Alibaba Cloud, through the Tongyi Large Model and its scalable global cloud infrastructure, provides better customer experience and mature innovative solutions to customers in industries such as autos, gaming, tourism, and news technology.
Express News | Alibaba's chain supermarket Sunart Retail is reportedly attracting private equity interest, with potential buyers including Dehong Capital and Hillhouse Capital. (Sina)
Taobao officially announced: now supports WeChat Pay!
On September 27th, Taobao announced that it now supports multiple payment methods such as Alipay and WeChat Pay. To experience this, update the app to the latest version. Earlier this month, Taobao and Tmall officially announced the addition of WeChat Pay capabilities after lifting a previous restriction.
Putting half of his wealth into Chinese concept stocks, 'The Big Short prototype' Michael Burry made a profit this time.
As of June 30th, stocks of Alibaba, baidu, and jd.com together account for about 46% of Burry's entire investment portfolio. Billionaire investor David Tepper previously stated that now is the time to 'buy everything', as Chinese stocks still have a lot of upside potential.
Hong Kong stocks are popping champagne! The Hang Seng Tech Index soared more than 20% in a week, while the Hang Seng Index's year-to-date gain has exceeded the S&P. What other opportunities are worth exploring?
Multiple fund companies and fund managers suggest that investors can focus on two main directions in the Hong Kong stock market: on one hand, pay attention to opportunities in interest rate-sensitive industries in the growth track, such as internet, electric vehicles, technology hardware, and biomedical sectors with longer durations; on the other hand, focus on high dividend-paying symbols with more certain shareholder returns.