Chinese concept stocks are gaining favor again! Morgan Stanley raised ratings on multiple Chinese concept internet companies, these industries are highly favored.
①Australia's well-known bank Macquarie released a report, upgrading the ratings of multiple Chinese internet plus-related stocks; ②The reason for the rating upgrade is increased profit visibility, as well as continued policy support from the Chinese government.
Top Midday Decliners
Spotlight on PDD Holdings: Analyzing the Surge in Options Activity
NASDAQ rebounded by 170 points in the early stage, while Chinese stocks declined. Alibaba and pdd holdings both dropped by 7%.
Investors are paying attention to US economic data this week, with the trade deficit and September consumer price index set to be released on Tuesday and Thursday respectively. US stocks rose on Tuesday. The Nasdaq rebounded by 170 points or 1% in the early session, while the S&P 500 index and the Dow Jones also recovered from Monday's losses, rising by 36 points and 29 points respectively. After China failed to announce any new economic stimulus plans, Chinese concept stocks listed in the US fell, with Bilibili (BILI.US) plummeting by 14%; auto manufacturer NIO Inc (NIO.US) dropped by 9%; PDD Holdings (PDD.US), Alibaba (BABA.US), and JD.com (JD.US) all fell by 7%-8%. Wynn Resorts
Shares of US-listed Chinese Stocks Are Trading Lower After Chinese Planning Officials Reportedly Fell Short of Investor Stimulus Expectations.
US stock outlook | Popular Chinese stocks pulled back sharply before the market, Pinduoduo fell more than 8%; the market refocused on US CPI, Damo: US core CPI is expected to rise moderately in September
Overseas listed china etfs pulled back, 3x long ftse china etf-direxion plunged more than 25% in pre-market trading, 3x short ftse china etf-direxion soared more than 32% in pre-market trading; Piper Sandler bullish on Google, pinterest and other internet plus-related stocks Q3 performance; US earnings season kicks off this week: profit expectations significantly decreased.