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Hong Kong Shares Rise 1.0%, Tracking Wall Street Gains -- Market Talk
Hong Kong's benchmark Hang Seng Index rises 1.0% to 17653.69 in early trade, tracking Wall Street gains overnight.
Top Gap Ups and Downs on Wednesday: MA, INTU, HDB and More
Gaps can show signals that something important has happened to the fundamental or the psychology of traders that accompanies this market movement.
Overnight news: European and American stocks close higher, Tesla raises prices of some autos in certain European countries, non-performing asset investors target USA commercial real estate.
For more global financial news, please visit 24-hour real-time financial news market closing: Powell said no need to wait for inflation to fall to 2% to start cutting interest rates, S&P index broke through 5,600 points. On July 10, Tesla had an 11-day consecutive increase, and Morgan Stanley maintained a buy rating. Popular China concept stocks rose and fell on Wednesday. TSMC rose 3.5%, Xiaopeng rose 7.5%, and Netease fell 3.7%. US WTI crude oil closed higher on Wednesday, breaking $82 per barrel. European stocks closed generally higher, with the Euro Stoxx 50 index rising 1.1%. Macro-wise, Fed Chairman Powell told the Senate that it is possible to "start relaxing".
Sensor Tower: Tencent (00700) Dungeon and Warriors: Origin topped the global mobile game sales list in June.
According to Sensor Tower Store Intelligence Platform, in June 2024, a total of 37 Chinese companies made it to the TOP100 global mobile game publishers revenue list, with a total revenue of 1.92 billion USD, accounting for 37% of the revenue of TOP100 global mobile game publishers in this quarter.
US stocks hit new highs, with Nvidia up 4.4% leading the technology stocks, Tesla rising for ten consecutive days, and Apple having the highest market cap.
The Nasdaq and S&P 500 large caps hit a new intraday high again, while the Dow Jones weakened; the US stock market's "Seven Sisters" rose except Microsoft, with Nvidia leading the gains, up nearly 4.4%, while Tesla rose more than 2% for ten consecutive days; Apple rose more than 0.6% and still has the highest market cap; chip stocks generally gave back more than half of their gains after rising, Arm Holdings and KLA Corp hit new intraday highs again; Chinese concept stocks index rose.
Orient Securities: high-quality development with emphasis on shareholder returns and long-term value highlight of internet plus-related industry allocation.
According to a research report released by Orient Securities, the internet plus-related sector is a preferred sector for long-term capital entry, and the long-term development logic of the industry coincides with the specific requirements of the new national guideline on "high-quality development" and "improving investment value".
Why Do Chinese Stocks Keep Faltering?
BofA Securities China Equity Strategist Winnie Wu says that's due to a combination of factors, including pressures on China's economy and company earnings, as well as a tense geopolitical environment. She says investors should trim SOE holdings and add quality beta stocks.
Hong Kong stock concept tracking: in June, the number of game version approvals increased month-on-month. Institutions see the sector's undervalued potential (including concept stocks).
The number of game licenses has once again increased, and products from Tencent, 37 Interactive Entertainment Network Technology Group, G-bits Network Technology, and iDreamSky have been approved.
US stocks hit new highs, with Apple's market cap surpassing Microsoft's, Tesla rising for the ninth consecutive day, silver futures falling by 3% at one point, and French stocks opening high and falling low.
Waiting for this week's US CPI and PPI inflation and Powell's congressional hearing. The New York Fed survey found that Americans' inflation expectations have fallen for two consecutive months, and the market is still betting on two interest rate cuts later this year. The S&P and Nasdaq have hit new highs for at least four days in a row, and Apple's market cap has surpassed Microsoft to become the largest company. Nvidia's increase has been cut in half after a nearly 4% increase, and TSMC briefly rose more than 4.8% in market cap, breaking the $1 trillion barrier. AI concept stocks such as Arm and Oracle also hit new highs and Intel and Super Micro Computer rose more than 6%. The Chinese concept stock index fell 1%, Xpeng Motors fell more than 6%, and Niu Technologies rose 16%. The second round of the French parliament elections unexpectedly ended without any political party obtaining an absolute majority, and European stocks rose but fell in the final session. The euro and French bond yields also opened high
Express News | PDD Holdings Down 1.8%, NetEase Down 1.3%, Baidu Down 0.9%
Express News | Li Auto Down 2.0%, JD.com Down 1.8%, NIO Down 1.5%, Xpeng Down 4.3%
Express News | Ishares China Large Cap ETF Down 0.6%, Kraneshares CSI China Internet ETF Down 0.9%
Express News | Li Auto Down 1.6%, NIO Down 1.3%, Xpeng Down 3.5%
Express News | PDD Holdings Down 1%, Alibaba and JD.com Fall 1.1% Each
Express News | U.S.-Listed Shares of Chinese Firms Fall Premarket After Domestic Stocks Close at Over Four Month Low
The Hang Seng Index hit a two-and-a-half month low, and shipping and consumer stocks were significantly under pressure.
ATFX Hong Kong stocks opened low this morning with a drop of more than 200 points. The decline intensified in the afternoon, hitting a near two-and-a-half-month low. The Hang Seng Index fell 238 points or 1.3%, to 17,561 points; the national index fell 83 points or 1.3%, to 6,299 points; and the Hang Seng Tech Index fell 25 points or 0.7%, to 3,571 points. Technology stocks Alibaba (09988), Meituan (03690), and Netease (09999) fell 1.5% to 1.7%. Tencent (00700) and Xiaomi (01810) fell 0.2%, while Baidu (09888) and jd.com (09618)
Express News | Ishares China Large Cap ETF Down 2%, Kraneshares CSI China Internet ETF Down 2.3%
Express News | PDD Holdings Down 1.5%, NetEase Down 2.8%, Baidu Down 1.7%
Express News | U.S.-Listed Shares of Chinese Companies Fall as China Stocks Close at 4-1/2 Month Low
7 Analysts Have This To Say About NetEase
Across the recent three months, 7 analysts have shared their insights on NetEase (NASDAQ:NTES), expressing a variety of opinions spanning from bullish to bearish.The following table provides a quick o