Chinese Concept Stocks | Alibaba Hit by J.P. Morgan Stake Reduction Amid Mixed Nasdaq Performance
AInvestMonday, Oct 21, 2024 6:31 pm ET
4min read
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On October 21st (Monday), Eastern Time, the three major U.S. stock indices showed mixed movements. The S&P 500 Index fell by 0.18% to 5853.98 points; the Dow Jones Index dropped by 0.80% to 42931.60 points; and the Nasdaq Index rose by 0.27% to 18540.01 points.

On October 21st, the Nasdaq Golden Dragon China Index decreased by 0.80%.

Among popular Chinese stocks, XPeng Motors rose by 3.00%, TSMC increased by 0.56%, Bilibili went up by 0.35%, Pinduoduo rose by 0.19%, Baidu fell by 2.94%, Alibaba decreased by 1.50%, NetEase dropped by 1.37%, NIO declined by 1.15%, and JD.com decreased by 0.75%.

Chinese stocks on a rising streak include: Tyra Biosciences rising by 3.45% over 6 days with a cumulative increase of 27.36%; Eureka Acquisition up by 0.15% over 6 days with a cumulative increase of 0.30%; Jiuzi Holdings increased by 0.25% over 6 days with a cumulative increase of 23.97%; Zai Lab rose by 1.86% over 5 days with a cumulative increase of 13.27%; UP Fintech Holding rose by 3.05% over 4 days with a cumulative increase of 5.53%; ECARX Holdings increased by 0.54% over 4 days with a cumulative increase of 6.32%; Sohu increased by 0.07% over 4 days with a cumulative increase of 2.92%; OceanPal rose by 24.81% over 4 days with a cumulative increase of 43.10%; Yunji rose by 0.48% over 4 days with a cumulative increase of 7.65%.

Chinese stocks on a declining streak include: Vipshop declining by 1.96% over 8 days with a cumulative decrease of 15.59%; LakeShore Biopharma dropped by 7.94% over 5 days with a cumulative decrease of 23.48%; WiMi Hologram Cloud decreased by 3.87% over 4 days with a cumulative decrease of 21.02%; 9F Inc. fell by 5.56% over 4 days with a cumulative decrease of 13.27%; 17 Education & Technology Group dropped by 14.57% over 4 days with a cumulative decrease of 20.22%; Antelope Enterprise Holdings decreased by 2.23% over 4 days with a cumulative decrease of 23.77%.

Tmall Double 11: Apple Sales Surpassed 1 Billion in 5 Minutes
At 8 PM tonight, Tmall Double 11 started selling in-stock items. Within just 5 minutes, Apple's sales exceeded 1 billion. Other brands like Huawei, Xiaomi, vivo, Samsung, and Sony also quickly surpassed 100 million in sales. The vivo and iQOO brands achieved sales exceeding last year's first hour within 15 minutes.

Fliggy Double 11: Sales Surpassed 1 Billion in 53 Seconds
At 8 PM on the 21st, the 2024 Fliggy Double 11 in-stock sales began. The latest news shows that within 53 seconds of starting, the total transaction volume of the activity surpassed 1 billion, 12 minutes faster than last year.

JD Finance: Daily Purchases of QDII Products Increased by 40% Since October
QDII funds are increasingly becoming a preferred channel for ordinary investors to invest globally. Exclusive information from JD Finance reveals that since October, the daily purchase volume of QDII products on the JD Finance platform has increased by about 40% compared to September. Regarding single-account investment amounts, some users on the JD Finance platform hold more than 2 million yuan in India-related QDII funds; in terms of growth, the Manulife India Equity Fund (QDII) has grown by nearly 24% over the past year. By age group, the most popular global investment tracks for users aged 20-30 are technology, for those aged 30-40 are consumption, and for users over 60 are pharmaceuticals.

Alibaba Reduced by Approximately 51.54 Million Shares by JPMorgan
According to data from the Hong Kong Stock Exchange, JPMorgan recently reduced its holdings of approximately 51.542997 million shares of Alibaba. Based on an average sale price of 100.7764 HKD, the transaction amounted to approximately 51.94 billion HKD. JPMorgan's long position decreased from 8.09% to 7.82%, with the number of shares held dropping to about 1.552 billion shares.

Industry Association Advocates for Minimum Pricing; Jinko Solar Responds: Future Results Expected
Recently, the China Photovoltaic Industry Association's emphasis on industry self-discipline has garnered widespread market attention. On October 21st, Jinko Solar stated that feedback from the meeting showed positive attitudes and consensus was reached. Specific work was deployed from the aspects of "limiting low prices" and "reducing production capacity." The meeting was initiated by the industry association and received attention and support from various regulatory departments and decision-makers. The subsequent effects are expected. Last Friday (October 18th), the association issued a call to limit the minimum bid price, indicating that the meeting's consensus is being rapidly implemented. As a company, they welcome and support these measures and hope to soon establish more long-term mechanisms to help the industry return to a healthy development track.

Rumors of "Regulatory Involvement in JD Finance" are Greatly Misleading
On October 21st, regarding rumors that "JD Finance was visited by a regulatory task force and borrowed funds from some banks," a person close to JD stated that the information is greatly misleading. "These contents are baseless rumors, and JD Finance's operations are running smoothly," said the individual close to JD. Regarding related bank matters, it is a "standard process for quick redemption of money market funds." JD has reported and complained about the rumors. Earlier on October 18th, JD Finance stated that there was no "run" situation as rumored online, and the claims were completely false. They reserve the right to pursue legal responsibility.

JD Invests in New Company Involving New Energy Vehicle Sales
According to the Qichacha app, Zhuhai Hongyue Trading Co., Ltd. was recently established with Zhang Yan as the legal representative and a registered capital of 100,000 yuan. Its business scope includes food sales, publication retail, and new energy vehicle sales. Qichacha's equity penetration shows that the company is wholly owned by Beijing JD Century Trading Co., Ltd.

Beike: Second-hand Housing Daily Signings Increased by 228% in Shenzhen Since New Policy
According to monitoring data released by Beike Research Institute in Shenzhen today, since the implementation of the new real estate policy in Shenzhen (from September 30th to October 20th), the daily signing volume of second-hand housing in Beike's Shenzhen partner stores has increased by 228% compared to before, far exceeding the growth after this year's "506 Policy." After the "929 Policy," the daily signing volume of second-hand housing is 144% higher than after the "506 Policy."

0.68 Yuan/W is the Component Price Floor? Jinko Solar Responds: It's Currently a Proposal
Today, the photovoltaic equipment sector continues to strengthen. On October 18th, the official WeChat account of the China Photovoltaic Industry Association issued a notice stating that bidding below cost for photovoltaic modules is illegal, and announced a minimum cost price of 0.68 yuan/W. When contacted as an investor, Jinko Solar's investor relations department stated that this is a proposal by the association. Whether the price requires companies to enforce it, and if bidding below 0.68 yuan/W will be penalized, "it's currently a proposal, and the situation will depend on future developments." The representative said that most tenders should be above this price, but individual cases may occur.

BeiGene's PD-1 Inhibitor Approved for 14th Indication in China
BeiGene announced today that its PD-1 inhibitor Baizean (Tislelizumab) has been approved by the China National Medical Products Administration for neoadjuvant therapy combined with platinum-containing chemotherapy, followed by monotherapy as adjuvant treatment after surgery, for patients with resectable stage II or IIIA non-small cell lung cancer. As the first PD-1 drug approved in China for perioperative treatment of stage II-III non-small cell lung cancer (NSCLC), Tislelizumab offers a new option for surgical lung cancer patients, helping them achieve longer survival benefits.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.