Chinese Concept Stocks | Nasdaq Golden Dragon Index Falls 1.84% Amid Mixed Performance of Popular Stocks
3min read On August 2nd (Friday) Eastern Time, the three major U.S. stock indices all fell by more than 1%. The S&P 500 index dropped 1.84% to 5346.56 points; the Dow Jones index fell 1.51% to 39737.26 points; and the Nasdaq index declined 2.43% to 16776.16 points.
On August 2nd, the Nasdaq Golden Dragon China Index decreased by 1.84%.
Regarding popular Chinese concept stocks, Bilibili rose 1.77%, TSMC fell 5.25%, Baidu dropped 2.23%, NetEase declined 1.24%, Xpeng Motors fell 0.85%, Alibaba decreased 0.72%, Pinduoduo dropped 0.32%, JD.com fell 0.32%, and NIO declined 0.12%.
【Rising Chinese Concept Stocks】
Color Star rose 0.34% for 8 consecutive days, with a cumulative increase of 48.74%. Viomi increased 1.96% for 7 consecutive days, with a cumulative rise of 20.93%. Antelope Enterprise Holdings rose 2.16% for 4 consecutive days, with a cumulative increase of 8.14%. Bilibili increased 1.77% for 3 consecutive days, with a cumulative rise of 3.89%. Sunlands Online Education Group rose 10.94% for 3 consecutive days, with a cumulative increase of 24.87%. Tenaya Therapeutics rose 5.41% for 3 consecutive days, with a cumulative increase of 21.33%. Abits Group rose 0.86% for 3 consecutive days, with a cumulative rise of 5.22%. Highveld Steel and Vanadium rose 0.65% for 3 consecutive days, with a cumulative increase of 2.75%.
【Falling Chinese Concept Stocks】
Blue Hat Interactive Entertainment Technology fell 0.57% for 8 consecutive days, with a cumulative decrease of 14.22%. Xiao-i Robot fell 8.16% for 8 consecutive days, with a cumulative drop of 29.96%. Tiansheng Pharmaceutical Holdings fell 7.41% for 8 consecutive days, with a cumulative decrease of 35.23%. Zhongchao Inc. fell 6.36% for 8 consecutive days, with a cumulative drop of 19.28%. Fangdd Network Group Ltd. fell 2.04% for 7 consecutive days, with a cumulative decrease of 28.62%. Boqii Holding Limited fell 6.90% for 7 consecutive days, with a cumulative drop of 25.82%.
【Chinese Concept Stocks News】
Fed's Barkin: 114,000 Nonfarm Payrolls Data is Not Ideal, But Still a "Reasonable Number"
Fed's Barkin: 114,000 nonfarm payrolls data is not ideal, but still a "reasonable number".
Trip.com: Orders for New Energy Vehicle Rentals Increased by 46% Year-on-Year Since Summer Vacation
Data released by Trip.com shows that since July during the summer vacation, orders for new energy vehicle rentals accounted for more than 90%, with a year-on-year increase of 46%.
Automotive Market Price War Pauses, Li Auto to End L6 Discounts
Following price hikes by BBA, another brand has joined in; this time it's new energy car companies. On August 2nd, it was learned from Li Auto that they will retract benefits. According to Li Auto's brand personnel, cash benefits for the Li Auto L6 will be reduced in August. Currently, the car is equivalent to a 5,000-yuan discount based on the "5,000-yuan deposit for 10,000-yuan car purchase" benefit. When contacted, Li Auto sales personnel confirmed that the discount of 5,000-yuan will end on the 14th of this month. NIO's sales personnel also revealed that the brand will begin retracting benefits in August. "There won't be much change before the 11th, but after the 11th, benefits like battery swap vouchers will no longer be provided. Currently, purchasing a car can get you 20 battery swap vouchers, equivalent to a 2,000-yuan discount." According to incomplete statistics, since BMW first announced price hikes on July 12th, about 10 brands have followed suit in the past 20 days.
Taobao Tests After-Sales Negotiation Tool: Automatically Provides Multiple Negotiation Plans to Consumers, Effectively Reducing Refund Rates
Taobao will launch an after-sales negotiation tool for all Taobao Tmall merchants to meet the needs of merchants and consumers for autonomous negotiation in after-sales scenarios. The tool is currently being tested by some merchants and can automatically provide multiple personalized negotiation plans based on different consumer needs in after-sales scenarios, helping merchants strengthen proactive after-sales service capabilities and reduce refund rates.
TSMC: Rumors of Low-Priced Treasury Stock Purchases are Fraudulent, Legal Action Reserved
On August 2nd, TSMC issued a statement saying that the company has never participated in any public groups related to investment or stock trading, published such advertisements, or shared investment and financial experiences. TSMC pointed out that investment advertisements on social networks claiming to allow low-priced purchases of TSMC treasury stocks are fraudulent. The company reserves the right to take legal action against such fraudulent activities.
New Oriental Statement: No Dismissal of Dong Yuhui
New Oriental issued a statement saying that during the company's FY2024 Q4 earnings conference, when asked by an analyst about the costs and expenses paid to teacher Dong Yuhui, the term "one-time compensation" was used. This expression was misunderstood by some as New Oriental Group giving Dong Yuhui a one-time severance pay to dismiss him. The separation of "With Hui" from Oriental Selection was a result of mutual friendly discussions and agreement and does not involve any dismissal. The company arranged to pay all the proceeds since the establishment of "With Hui" and all the equity transfer funds related to "With Hui" to Dong Yuhui, which supports Dong Yuhui and "With Hui" for future development, rather than being severance pay.