Asian Equities Traded in the US as American Depositary Receipts Flat in Friday Trading; Ends Week Sharply Higher
Technology stocks led the S&P to four consecutive gains, Oracle reached a new high after hours, the US dollar and US bonds fell, gold hit a new high, and commodities rose.
In August, the PPI in the United States showed a cooling down of inflation, and the market slightly raised its bets on the Fed's aggressive interest rate cuts. US stocks rose together, with Nvidia up nearly 2%, while NIO Inc and XPeng fell more than 5%. The European Central Bank cut interest rates for the second time this year, but maintained a restrictive policy. European bonds fell, and the euro rebounded from its four-week low. Commodities rose across the board, with US oil briefly rising by 3.7%, gold reaching a new high with a nearly 2% increase, palladium rising by over 4%, and copper experiencing its largest two-month increase.
6-K: Report of foreign private issuer (related to financial reporting)
China Merchants Securities International: The stock prices of leading domestic internet platforms show resilience. Preferred choices are Tencent, Alibaba, and Bilibili.
China Merchants Securities International published a report stating that although the stock market has recently weakened overall, the stock prices of mainland leading internet platforms have still shown resilience. It is believed that this is due to the improvement of the competitive environment and the enhancement of profit prospects. After this quarter's performance, companies with large declines are still worth attention, such as PDD Holdings, Tencent Music, and Netease. These companies still have attractiveness in terms of business strength, market position, and valuation. The bank pointed out that the overall market position and profit capability of mainland leading internet platforms are still solid. Industry first choices: Tencent, Alibaba, and Bilibili, all given a "shareholding" rating, with target prices of HKD 474 and USD 126 respectively.
Hong Kong Stock Market: Bilibili-W (09626) rose nearly 4% with excellent performance in the 'Three Strategies' data. The company is expected to achieve a balance between revenue and expenditure in the third quarter.
Bilibili-W (09626) rose nearly 4%, as of press time, it rose 3.78%, reporting HKD 123.5, with a turnover of HKD 0.176 billion.
Top Gap Ups and Downs on Wednesday: NVS, HUM, WIT and More
