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BlackRock, a trillion-dollar asset management giant, reduces its shareholding in Nvidia and increases its shareholding in PDD Holdings.
Recently, Baillie Gifford submitted a U.S. stock holding report to the U.S. Securities and Exchange Commission at the end of the second quarter of 2024. The report shows that the asset management giant reduced its holdings in U.S. technology leaders and increased its holdings in Chinese e-commerce giants. As of the end of 2023, the century-old asset management giant had an asset under management of approximately 225 billion pounds, equivalent to approximately 2,000 billion yuan. In the second quarter of this year, Baillie Gifford reduced its holdings in U.S. technology giants, and reduced its first heavy stock holding, NVIDIA, by as much as 20.34%. Looking back at history, Baillie Gifford has been buying NVIDIA since 2016,
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S&P rises over 2%, the best in nearly two years, with chip stocks up about 7%, Nasdaq and Chinese stocks up 2.8%, and US Treasury yields and the yen falling for three consecutive days.
The latest employment data alleviates concerns over the US economy, and US stocks rose more than 1.7%. Nvidia's stock rose more than 6%, and Tesla, Alibaba, PDD Holdings, and Tencent ADR rose more than 3%. Bullish on weight loss drug reports, Eli Lilly and Co's stock rose more than 13%, and Novo-Nordisk A/S's US stock rose nearly 8%. The 10-year US Treasury yield rose above 4%, and short-term bond yields rose by 10 basis points. Oil prices rose for the third consecutive day, gold halted its five-day decline, and digital currency had a big increase.
$100 Invested In PDD Holdings 5 Years Ago Would Be Worth This Much Today
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