Express News | According to reports, netease has launched "Netease Little Bee" to compete with Xiaohongshu.
NetEase, Inc. Goes Ex Dividend Tomorrow
Netease (09999.HK) is partnering with XCMG Group to establish a strategic collaboration.
Netease-S (09999.HK) (NTES.US) announced a strategic cooperation agreement with XCMG Group, planning to further deepen cooperation in the intelligent and unmanned fields of construction machinery. Liu Jie, Vice President of Netease, stated that through this cooperation, Netease will apply the AI capabilities and embodied intelligence (Embodied AI) accumulated in the gaming virtual world to the field of construction machinery, jointly promoting the upgrade of the construction machinery intelligence industry with XCMG Group. Both parties expect to deepen their efforts in the intelligent field, focusing on "AI + construction machinery", "AI + construction equipment", and so on.
U.S. stocks closed higher with all three major indices rising. The Dow, S&P, and Russell 2000 all hit record highs, while nvidia fell more than 4% against the market; bitcoin fell below $93,000, while microstrategy dropped more than 4%.
Funds continue to flow out of the technology sector, rotating into cyclical stocks. The Dow rose more than 400 points, while the Russell small cap stocks rose by 2.5% at one point. The S&P hit a new intraday high before narrowing its gains. Nvidia dropped over 4% to a three-week low, Tesla fell by nearly 4%, Nio dropped by 3.6%, but Alibaba rose by nearly 3%.
US stocks closed | All three major indices rose for the entire week! The Dow Jones hit a new closing high, Tesla rose nearly 4%; cryptos concept stocks all rose, MSTR increased by over 6%.
Funds flowed out of technology stocks and into economically sensitive cyclical stocks. The Nasdaq fluctuated between gains and losses, dragged down by over 3% drop in Nvidia and 1.7% drop in Google Class A. The Dow Jones rose by about 1%, small caps rose by 1.8%, and Chinese concept stocks fell by 1.4%. The S&P 500 and Nasdaq accumulated gains of 1.7% for the week, the Dow rose by about 2%, Tesla rose nearly 10% for the week, and Super Micro Computer soared by over 78%, its best week ever. MicroStrategy, known as a 'Bitcoin whale', rebounded by 6% on Friday. Economic weakness pushed the Euro to a two-year low, while the US Dollar rose for the third consecutive week to a two-year high. Offshore Renminbi fell by over 200 points for the week to nearly a four-month low. US oil had its best two-month gain with a 6.5% increase for the week, gold rose by over 1% to surpass $2700, marking its best week in over a year with a 5.7% increase.
US stocks fluctuate | Netease falls more than 2% before the market, with mixed performance in the third quarter, and its Hong Kong-listed stocks target price lowered by Daiwa.
Gridline News on November 22nd | Netease (NTES.US) fell more than 2% in pre-market trading to $86.86. On the news front, Daiwa published a research report stating that Netease's third-quarter mobile game revenue fell short of expectations by 6 to 8%, but the computer game revenue exceeded expectations, while deferred revenue remained stable. Daiwa stated that due to the limited pipeline of mobile games, it has lowered Netease's mobile game revenue growth forecast for next year from 10% to 8%, and adjusted the revenue forecast for 2024 to 2026 by 2 to 3%, leading to a 1% downward revision in earnings per share forecast for 2024 to 2026. The firm reiterated its "buy" rating on the stock.