Goldman Sachs: US hedge funds significantly increased their shareholding of Chinese concept stocks in the third quarter.

A report by Goldman Sachs, a US investment bank, shows that US hedge funds increased their investments in Chinese companies listed in the US in the third quarter, with jd.com and GDS Holdings stocks being bought the most. According to a report sent to clients on Wednesday by Goldman Sachs, the exposure of US hedge funds to US-listed Chinese concept stocks has risen to the highest level since the end of 2021. The bank stated that as of early the fourth quarter, approximately 25% of US long-short stock funds hold at least one long position in Chinese concept stocks. E-commerce giant jd.com is the most popular, attracting 47 hedge funds, with 26 funds net buying in the third quarter.

Global market broadcast02:31 ET

Top 20 trading volume on November 20th in US stocks: bitcoin concept stock MicroStrategy's market cap surpasses 100 billion US dollars

On Wednesday, the top stock by trading volume in the U.S. was nvidia, which fell by 0.76% with a transaction volume of 39.661 billion USD. nvidia announced its earnings report after Wednesday's close, with third-quarter revenue of 35.1 billion USD, exceeding the analyst expectation of 33.25 billion USD. The revenue from the datacenter in the third quarter was 30.8 billion USD, expected to be 29.14 billion USD. The adjusted eps for the third quarter was 0.81 USD, compared to an estimate of 0.74 USD. nvidia CEO Jensen Huang predicted that the demand for the Blackwell products/series will exceed supply in the coming quarters. As the largest publicly traded company by market cap globally, nvidia's stock price continues to surge this year.

Global market report16:59 ET

China ADRs Have Increased to the Largest Share Since Late 2021 – GS

Seeking Alpha11:22 ET

JD.com (JD) Surged on Improved Investor Confidence

Yahoo Finance11:17 ET

JD.com Tops Q3 Earnings & Revenue Estimates: Buy, Sell or Hold Shares?

Zacks Nov 19 11:15 ET

[Brokerage Focus] GTJA Raises jd.com Group (09618) Target Price by 6%, Expects Q3 Net Income Growth to Exceed Expectations.

Jingwu Financial News | gtja released a research report indicating that in FY24 Q3, jd.com (09618) revenue increased by 5.1% year-on-year to 260.4 billion yuan, showing significant recovery compared to zero growth in Q2 year-on-year. Achieved a gross margin of 17.3%, a significant year-on-year increase of 0.7 percentage points, determined mainly by the increase in the proportion of high-margin general commodities in the retail commodity structure and the significant decline in the cost rate of the logistics sector. Non-GAAP net income rose by 29.3% year-on-year to 13.2 billion yuan, exceeding the expected 11.4 billion yuan. The report pointed out that under the old-for-new policy, the revenue growth has warmed up, leading to a net income that exceeded expectations. JD.com is effectively managing logistics cost control.

Jinwu Financial NewsNov 19 02:44 ET