Funds are rushing to buy in large quantities! Several Chinese concept stocks, china assets etfs have doubled, who is betting on them?
Behind the recent rise in Chinese assets, foreign capital with keen sense of smell is undergoing significant changes, returning to the Chinese market has become the hottest topics now.
U.S. stock market anomaly | Chinese auto stocks generally fell before the market, with Xpeng and Nio both dropping more than 4%.
gelonhui October 3rd | China's autos stocks fell before the market, with xpeng and nio inc down more than 4%, li auto inc down nearly 3%. French President Macron supports the European Commission in imposing tariffs on imported Chinese electric vehicles (EVs).
Hong Kong stocks fluctuate | Auto stocks collectively fell, Macron supports imposing tariffs on Chinese-made electric cars
Oct 3, Gruntal News | French President Macron supports the European Commission in imposing tariffs on imported China-made electric vehicles (EV). Hong Kong auto stocks collectively plummeted. Evergr Vehicle dropped over 20%, Xpeng dropped over 8%, Nio Inc dropped over 7%, Li Auto Inc, Guangzhou Automobile Group dropped over 5%, Brilliance Chi, Yadea, Geely Auto dropped over 4%, BAIC Motor dropped nearly 4%, Great Wall Motor dropped nearly 3%.
Hang Seng Index fell by 330 points, mainland real estate stocks gave back gains, Meituan reversed the increase by 4%.
Hang Seng Index consolidated after six consecutive sharp rises stimulated by mainland financial measures. The Hang Seng Index opened high with a 40-point increase but then fell back. It once dropped 1,001 points to a low of 21,442 points, the afternoon decline narrowed significantly, closing down 330 points or 1.5% at 22,113 points; the China Enterprises Index fell 127 points or 1.6%, closing at 7,914 points; the Hang Seng Tech Index fell 178 points or 3.5%, closing at 4,978 points. The total turnover in the market for the day shrank to 310.344 billion yuan. Mainland real estate stocks retreated, Shimao (00813.HK), Sunac China (01918.HK), and Country Garden (00884.HK) all dropped by 21 points.
Express News | Ishares MSCI China ETF Down 2.5%, Ishares China Large Cap ETF Down 2%, Kraneshares CSI China Internet ETF Down 3.2%
Express News | PDD Holdings Down 3.5%, NetEase Down 1.4%, Baidu Down 3%
Express News | Li Auto Down 2.3%, JD.com Down 3.1%, NIO Down 3.6%, Xpeng Down 3.8%
Express News | Alibaba Down 2.3%, Bilibili Down 6.1%, Tencent Music Entertainment Down 3.4%
Express News | U.S. Listed Shares of Chinese Firms Fall Premarket After Hong Kong Stocks Close Lower
xpeng-W(09868.HK): MONA deliveries exceed expectations, first glimpse of profitability.
Event: On October 2, 2024, xpeng announced delivery data for September 2024. In September 2024, xpeng delivered a total of 21,352 new cars, a year-on-year increase of 39%, and a month-on-month increase of 52%. 2024
Hong Kong stocks closed (10.03) | Hang Seng Index fell by 1.47% to stabilize at 22,000. Mainland real estate stocks collectively plunged, while certain brokerages rose in the afternoon and strengthened.
Hong Kong stocks staged a 'V-shaped' reversal in the afternoon, with the Hang Seng Index temporarily erasing the morning decline and successfully holding above the 22,000 mark. Earlier, the three major indices experienced a sudden plunge, the Hang Seng Index retreated from its high of over half a year, dropping nearly 1000 points; the Hang Seng Technology Index fell more than 7% mid-session.
Deutsche Bank: xpeng is expected to maintain strong sales performance.
Deutsche Bank's research analyst Bin Wang stated in a report that xpeng is expected to maintain strong sales performance for the remaining time of this year. Wang pointed out that xpeng's delivery volume in September increased by 39% year-on-year, reaching the highest monthly delivery level since the establishment of the company, driven by strong demand for the Mona M03 model in the market. Wang estimates that xpeng will deliver 11,000, 15,000, and 20,000 units of the M03 model in October, November, and December respectively. The analyst maintains a buy rating on the stock and sets the target price for it.
XPeng Likely to Maintain Strong Sales Performance -- Market Talk
BOCI International: Mainland China's automotive market continued its peak season characteristics in the fourth quarter. Bullish on fuyao glass (03606) in the medium term.
CICC expects Xiaomi's annual delivery volume to reach 0.13 million units or higher, exceeding earlier expectations.
In Daihang, Bank of China International expects the mainland fourth quarter car market to continue the characteristics of the peak season, with a bullish outlook on Xiaomi (01810.HK), Li Auto Inc (02015.HK), and Fuyao Glass (03606.HK).
Bank of China International's research report stated that in September this year, the sales volume of major electric vehicle companies showed monthly growth. Among them, BYD (01211.HK) set a record for the first time with over 0.4 million units sold; li auto inc-W (02015.HK) achieved a historical high with 0.0537 million units sold; Xpeng-W (09868.HK) benefited from significant contributions from its 'MONA M03' model, with delivery volume exceeding 0.02 million units. Bank of China International predicts that Xiaomi-W (01810.HK) could achieve a new record of 0.015 million to 0.016 million units in sales in September, with a weekly delivery volume reaching 6,000 to 7,000 units by the end of September.
What's going on? Hong Kong stocks plunge sharply, the technology index once fell more than 6%, with real estate, autos, and network technology sectors experiencing heavy losses.
At the morning opening, the Hong Kong stock market experienced an adjustment. The Hang Seng Index and the Hang Seng Tech Index both fell, with the Hang Seng Index dropping more than 3% and the Tech Index falling over 6% at one point.
Express News | Most Hong Kong auto stocks weakened, with Xpeng Auto falling nearly 9%.
XPeng's Smart EV Deliveries Surge 39% in September
China's assets across the board surged, with foreign institutions rushing to buy in frenzy.
Mark Mobius, known as the "father of emerging markets", recently expressed the view that under stimulus measures, the Chinese stock market is rejuvenated, with the intensity and timing of this round of stimulus exceeding expectations.
Express News | Market research institutions: Using history as a reference, Chinese stocks still have room to rise.