Shares of US-listed Chinese Companies Are Trading Higher Possibly Amid Continued Strength Following a Report Suggesting China Will Issue up to $284 Billion of Sovereign Debt as Part of a Stimulus.
U.S. stock market early session | The three major indexes rose together, with the Dow hitting a new high again; Chinese concept stocks continued their strong momentum, with Nio Inc. soaring over 8%, pdd holdings up nearly 6%
On the evening of the 27th Beijing time, the U.S. stock market opened slightly higher on Friday. The PCE inflation data most favored by the Federal Reserve rose by 2.2% year-on-year, lower than expected, indicating easing inflation pressure and a cooling economy. The market expects these data to continue to lead the Fed to cut interest rates in the coming months.
Express News | Li Auto up 1.3%, JD.com up 3.2%, NIO up 4.5%, Xpeng up 4.2%
Express News | Kraneshares CSI China Internet ETF up 2.2%
Express News | PDD Holdings up 3.3%, NetEase up 2.6%, Baidu up 1%
Express News | Alibaba up 0.7%, Bilibili up 0.9%, Tencent Music Entertainment up 4.4%
Express News | U.S.-Listed Shares of Chinese Firms Rise on New China Stimulus
US stock market outlook | As expected! USA's core PCE in August rose by 2.7% year-on-year, short-term pull-up of the three major index futures; Making a fortune! Well-known major short sellers bet on Chinese concept stocks to usher in a glorious moment
Before the market opened on Friday, the three major equity index futures fell slightly, with the market waiting for PCE data; tesla's 0-interest car purchase event was postponed again; jd.com continued to rise by over 2% before the market, Alibaba and jd.com will open up to each other.
What's Going On With Chinese EV Stocks NIO, XPeng, Zeekr On Friday?
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.
This week in the US stock market | China's assets experience a "big carnival", goldman sachs and other major banks are all bullish! Ke Holdings surged nearly 40% during the week, with jd.com and pdd holdings rising by about 30%.
This week, the Dow Jones Industrial Average rose by 0.27% to 42175.11 points; during the same period, the S&P 500 index rose by 0.75% to 5745.37 points; the Nasdaq index rose by 1.35% to 18190.29 points during the same period.
Express News | The China Banking and Insurance Regulatory Commission: will study optimizing the range of independent pricing factors for electric vehicle insurance.
US stocks are on the move | Chinese electric vehicle stocks are rising in pre-market trading, supported by the policy of replacing old with new and driving demand recovery.
Gelonghui on September 27th | Chinese new energy vehicle stocks rose before the market, with Nio up over 5.5%, Xpeng up over 4.8%, Jidexing up over 2.8%, and Li Auto Inc up over 1.5%. On the news front, a report by Lyon pointed out that China's policy support for replacing old cars with new ones is driving the recovery of the automotive industry, especially benefiting electric vehicles, mainly because consumers' preferences are shifting from joint venture brands' internal combustion engine (ICE) models to new energy vehicle models. In addition, various automakers are expected to launch new energy vehicles in the second half of the year. It is expected that the penetration rate of domestically produced new energy vehicles in China will steadily increase. Lyon believes that leading car companies can sustainably benefit.
From January to August, the electric heavy truck market achieved an '8 consecutive growth', with an average monthly growth rate of 222%.
In August 2024, the domestic new energy fund heavy truck market sold a total of 6,303 vehicles, a decrease of 5% from July, while continuing to grow year-on-year, with an increase of 117%.
Credit ratings of major banks | Lyon: BYD, Li Auto, and Xpeng are listed as industry favorites, with a rating of "outperform the market" for all.
On September 27th, Guolonghui | Lyon released a research report stating that China's old-for-new support policy is driving the recovery of the automotive industry demand, especially benefiting electric vehicles, mainly because consumer preferences are shifting from joint venture internal combustion engine (ICE) models to new energy models. In addition, various new energy vehicle models are being introduced by car companies in the second half of the year, and it is expected that the penetration rate of domestically produced new energy vehicles in China will steadily increase. Lyon rates BYD, li auto inc, and Xpeng as top choices in the industry, all with an "outperform the market" rating, believing that leading automotive companies can continue to benefit from policy stimuli and the momentum of electric vehicle development; particularly bullish on li auto inc ADAS development.
CICC raised the target price of Li Auto (02015.HK) to 109 yuan, sales growth improves profit visibility.
Lyon released a research report stating that China's old-for-new support policy is driving the recovery of the automobile industry demand, especially benefiting electric vehicles, mainly because consumer preferences are shifting from joint venture internal combustion engine (ICE) models to new energy models. In addition, various new energy vehicle models are being launched by car manufacturers in the second half of the year, expecting the steady increase in the penetration rate of domestically produced new energy vehicles in China. Lyon has listed BYD Company Limited (01211.HK), Li Auto Inc (02015.HK)(LI.US), and Xpeng (09868.HK)(XPEV.US) as top picks in the industry, all rated as "outperform the market".
Express News | Interface Finance Society Ten Years Ten People - Li Xiang: Thanks to Interface Finance Society for accompanying the most critical ten years of the Chinese automotive industry.
Foreign capital unanimously bullish! Morgan Stanley, Goldman Sachs support the Chinese stock market, hedge fund tycoons shout out: buy all Chinese assets.
①Morgan Stanley believes that, from a technical perspective, the China CSI 300 Index may still have about 10% upside potential in the short term; ②Goldman Sachs said that once the US election is over, the Chinese stock market should be an important part of investors' investment plans; ③Hedge fund legend David Tepper said he didn't expect such a strong policy stance from China, and he will buy all Chinese assets.
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%.
Global stock markets welcome the 'most call morning of the year,' as Goldman Sachs fund flow experts exclaim that this 'china trade' is different from the past.
Goldman Sachs expert Rubner mentioned that FOMO is starting to appear locally in China; in the past 48 hours, he conducted more China-related Zoom calls than all related meetings within this year; short-term traders in Goldman Sachs PB business have been buying Chinese stocks for eight consecutive days, with the net buying amount of Chinese stocks in PB business this Tuesday reaching the second highest level in ten years, almost entirely from long positions.