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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%.
Nomura: The rebound wave seems to be sustainable. It is recommended to increase shareholding in Tencent (00700.HK), Trip.com (TCOM.US), Meituan (03690.HK), Alibaba (BABA.US), and pdd holdings (PDD.US) when there is a pullback.
Daiwa's report indicates that most mainland internet stocks covered by the bank have risen by three to five percent since the stimulus measures were announced. Based on discussions with investors, it is determined that there are still multiple rounds of market increase, as several clear signs are observed, including Fear of Missing Out (FOMO) trades, and situations where investors are eager to reduce their exposure to Chinese stocks. While most investors believe that substantial policy driving is needed to rationalize the long-term market turnaround, the bank estimates that the process may take several months, anticipating that investors will take rapid action first to avoid being too late. Daiwa believes that many global long-term investors are eager to reduce their underweight exposure to China, with internet stocks being one of them.
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.
Ctrip (09961.HK) reaches a strategic cooperation agreement with Azerbaijan.
Ctrip-S (09961.HK) (TCOM.US) announced last week that it has signed a memorandum of understanding with the Azerbaijan Tourism Bureau and Azerbaijan Airlines to achieve strategic cooperation to promote the local tourism industry. According to the agreement, Ctrip will establish an Azerbaijan flagship store on its platform, increase detailed introductions to Azerbaijan tourist destinations, develop more local specialty tourism products, and promote Azerbaijan's tourism resources through social media influencers. Data from the Azerbaijan National Tourism Bureau shows that the number of Chinese tourists visiting Azerbaijan in the first eight months of this year has significantly increased to 26,866, far exceeding the same period last year.
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.
Shares of US-listed Chinese Stocks Are Trading Higher on Continued Strength Following Recent Stimulus Measures and Amid the China National Day Celebrations This Week.