"China Dragon" ETF landed on Wall Street as the bull market returns, benchmarking the seven major ETFs in the US.
A new ETF called DRAG, "China Dragon", tracking the performance of major Chinese companies has landed on the US stock market. Its components currently include Tencent, Pinduoduo, Alibaba, Meituan, BYD, Xiaomi, JD.com, Baidu, and Netease. DRAG aims to track an equally weighted basket of stocks composed of the 5 to 10 largest and most innovative Chinese technology companies. This ETF will be rebalanced quarterly.
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The European Union car market is shrouded in gloom: new car sales in August hit a three-year low, with EV sales falling sharply by 43% year-on-year.
① The EU's new car sales in August fell by an astonishing 18.3% year-on-year, reaching the lowest level in three years; ② The European Automobile Manufacturers Association (EAMA) stated that sales of electric cars in the EU in August fell by 43.9% year-on-year, marking the fourth consecutive month of decline.
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Is the domestic battery production capacity underestimated? JPMorgan: Potential additional capacity reaches 700GWh, it will take at least 3 years to digest.
jpmorgan believes that more than 700GWh of 'under construction fixed assets' will not be fully absorbed until the end of 2027, and this phenomenon is particularly evident among second-tier battery manufacturers. Third-tier companies may exhaust their cash and quietly exit the market in the coming years. However, given the market concentration, the exit of these companies has almost no impact on the industry's competitive landscape.