Chinese Concept Stocks | Nasdaq Golden Dragon Index Drops 1.63% as Major Stocks Decline

On August 14 (Wednesday), Eastern Time, the three major U.S. stock indexes collectively closed higher. The S&P 500 rose by 0.38% to 5455.21 points; the Dow Jones index rose by 0.61% to 40008.39 points; and the Nasdaq index rose by 0.03% to 17192.60 points.

On August 14, the Nasdaq Golden Dragon China Index fell by 1.63%.

Among the popular Chinese stocks, Bilibili fell by 6.29%, NIO fell by 4.37%, XPeng Motors fell by 4.16%, Baidu fell by 2.56%, Alibaba fell by 2.04%, NetEase fell by 1.98%, Pinduoduo fell by 1.42%, TSMC fell by 1.37%, and JD.com fell by 0.88%.

【Rising Chinese Stocks】

Zhenkunxing rose by 9.47% for 6 consecutive days, with a total increase of 19.08% over the period. Youjia Insurance rose by 1.11% for 6 consecutive days, with a total increase of 97.25% over the period. Qifu Technology rose by 12.27% for 5 consecutive days, with a total increase of 21.79% over the period. Silverway rose by 6.21% for 5 consecutive days, with a total increase of 8.92% over the period. Jiuzi New Energy rose by 12.28% for 5 consecutive days, with a total increase of 60.00% over the period. 36Kr rose by 4.65% for 5 consecutive days, with a total increase of 14.41% over the period. Mobile Finance rose by 1.33% for 5 consecutive days, with a total increase of 35.71% over the period. Tiancheng Jinhui rose by 0.92% for 5 consecutive days, with a total increase of 6.28% over the period.

【Falling Chinese Stocks】

Xiao-i Robot fell by 4.71% for 6 consecutive days, with a total decrease of 43.40% over the period. eHome Fast Service fell by 30.00% for 6 consecutive days, with a total decrease of 93.05% over the period. 1Drug Network fell by 3.00% for 5 consecutive days, with a total decrease of 11.01% over the period. Bimai Pharmaceutical fell by 12.13% for 5 consecutive days, with a total decrease of 24.51% over the period. Quhuo fell by 0.67% for 5 consecutive days, with a total decrease of 25.13% over the period.

【Chinese Stock News】

"Big Short" Michael Burry Increases Holdings in Alibaba and Baidu, Slashes JD.com Holdings
An analysis of Scion Asset Management LLC's 13F filing shows that in the three months ending June 30, the hedge fund managed by "Big Short" Michael Burry increased its holdings in Baidu and Alibaba. Specifically, it added 30,000 ADR shares of Alibaba and 35,000 ADR shares of Baidu, while reducing its holdings of JD.com ADR shares by 110,000. Alibaba remains its largest holding, accounting for 21% of its assets.
Futu Holdings: U.S. Stock Night Trading Gradually Resumes
Futu Holdings announced that U.S. stock night trading is gradually resuming.
Trip.com: Domestic Car Rental Orders Increase by 50% Year-on-Year During Summer, Breaking Historical Peak
Trip.com released the "2024 Summer Car Rental Self-Drive Report" showing that domestic car rental self-drive orders during the 2024 summer increased by over 40% compared to last year; the daily order volume during the summer set a historical peak for the platform, increasing by 50% year-on-year; the per capita spending on car rentals during the summer increased by 20% compared to last year. Overseas self-drive tours are also booming, with overseas car rental orders on the Trip.com platform increasing by 160% year-on-year, and the sales revenue of overseas car rentals increasing by 150% year-on-year, with the longest self-drive rental period reaching 90 days.
Rumors of Alipay's China Technology Department Head Resigning, No Official Response Yet
There are rumors that the head of Alipay's China Technology Department, Miaocai, has resigned, with a rank of P10. Alipay has not yet responded. According to the rumors, after Miaocai's resignation, the payment technology, internet payment technology, and offline payment technology departments will be merged into the payment technology department, reporting to the original chief architect of Alipay, Moxian.