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Stock ETFs with abnormal movements! Pre-market trading led by China concept stocks ETFs! Leveraged 3 times to long FTSE China ETF surged over 18%, leveraged 2 times to long CSI 300 ETF surged over 12%.
On Wednesday, October 2nd in pre-market trading, US-listed Chinese concept stocks ETF led the gains, triple leveraged FTSE China ETF rose by 18.26%, double leveraged China internet-related stocks ETF rose by 14.14%, and double leveraged 300ETF rose by 12.29%.
Who's buying? The A-share market is closed, but the Hong Kong stock market is still going strong! There's a big shift in foreign capital underway.
According to the latest report published by Goldman Sachs, after the People's Bank of China announced easing measures and the September Political Bureau meeting, mainland consumer stocks rebounded strongly by an average of about 32% in the past week.
Chinese concept stocks experienced a "short squeeze" with short sellers losing nearly $7 billion.
Despite the recent rise in Chinese stocks listed in the US, the short sellers are not eager to close their positions. If the market continues to rise, analysts expect a significant short squeeze to further boost stock prices.
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Alibaba, PDD Holdings, and JD.com have a combined market cap that is only one-fourth of Amazon's. Goldman Sachs: Huge room for revaluation of the value of Chinese e-commerce.
Goldman Sachs pointed out that the median PE ratio of the Chinese internet plus-related industry for the next 12 months is 14.3 times, with a discount of over 40% compared to the USA internet plus-related industry. The valuations of e-commerce companies such as alibaba, pdd holdings, and jd.com are only 9-12 times, still lower than the median of the chinese internet plus-related industry, with great potential for value reassessment.