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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.
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 Semiconductor Stocks Are Trading Lower Amid a Possible Pullback. The Sector Recently Surged on Strong Earnings From Micron.
Hong Kong and A-shares are in high spirits! How much room is left in the market under the new round of policies?
Interest rate-sensitive growth stocks, export chains driven by usa real estate demand, Hong Kong stocks local dividends and real estate, all show greater resilience in this round of rise.
US stocks close | US PCE inflation cools down, S&P Nasdaq falls but Dow hits new high; China concept index surges 24% for the whole week, jd.com hits fourteen-month high.
US PCE inflation cooling solidifies the confidence of the Fed in rate cuts, but US stocks fell in the afternoon, with nvidia dropping nearly 4% at one point. China's stimulus policies drove the Chinese concept index up by 4%, nio inc rose by nearly 13%, pan-European stock indexes and German stocks hit new highs for two consecutive days, luxury goods stocks rose again. The Dow, S&P, and Nasdaq have all risen for three consecutive weeks, with two China-focused ETFs achieving the best weekly gains in history.
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.