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.
Is the volatility of US stocks intensifying in October? Strategist: Maintain a moderate optimistic attitude and bullish on the public utility sector.
October is usually a strong month for the US stock market, but it is also known for its volatility and occasional market crashes.
Futu Morning Post | The situation in the Middle East has escalated! US oil and gas stocks rose; BlackRock raised Chinese stock ratings, Chinese assets fervent
China increases subsidies for electric vehicles, tesla is expected to achieve its first quarter sales growth this year; New carmaking forces show strong potential: Li Auto sets a new delivery record with 'Zhiling Xia', nio has delivered over 20,000 vehicles for 5 consecutive months.
Iran warns of devastating blow if retaliated against, Israel may carry out major retaliation in the coming hours.
Iran launched the largest-ever missile attack on Israel overnight! Iran warns that any response from Israel will result in a devastating attack, with Prime Minister Netanyahu vowing to make them pay, and the usa is ready to defend Israel.
U.S. stocks closed | the Nasdaq fell by 1.5%, Meta and defense stocks hit new highs, while the Chinese index rose more than 5% against the market trend.
Popular Chinese concept stocks surged, Bilibili rose over 14%, Li Auto Inc rose over 11%; Growth Tech Apple fell by 2.91%, Meta rose by 0.70% to a new high, Microsoft fell by 2.23%, Tesla fell by 1.38%, Nvidia dropped by 3.66%.
Top 20 turnover | Nvidia fell more than 3%, with a turnover exceeding 35 billion US dollars; china concept stocks soared, pdd holdings rose more than 8%.
On Tuesday, Tesla, the world's second largest stock by turnover, fell by 1.38%, trading at 22.256 billion US dollars. According to analysts' estimates, Tesla's global deliveries in the third quarter are expected to be around 0.4639 million vehicles, an increase of about 7% from the same period last year. Apple, ranking third, dropped by 2.91%, trading at 14.29 billion US dollars. Barclays mentioned soft demand for Apple's iPhone 16.