Chinese Concept Stocks | Nasdaq Golden Dragon Index Soars as Key Stocks Surge
3min read On September 24th, Eastern Time (Tuesday), the three major U.S. stock indices closed higher, with the S&P 500 index rising 0.25% to 5732.93 points; the Dow Jones index rising 0.20% to 42208.22 points; and the Nasdaq index rising 0.56% to 18074.52 points.
On September 24th, the Nasdaq Golden Dragon China Index rose 9.13%.
Among popular Chinese stocks, NetEase rose 8.06%, Alibaba rose 7.92%, Baidu rose 7.40%, TSMC rose 4.12%, Bilibili rose 17.02%, JD.com rose 13.91%, XPeng Motors rose 11.87%, NIO rose 11.47%, and Pinduoduo rose 11.24%.
The stocks that have consecutively risen include Douyu with a latest increase of 2.26% over 8 consecutive days, with a cumulative increase of 24.67% during this period. Distoken rose 0.18% over 6 days with a cumulative increase of 0.28%. Ctrip rose 8.09% over 5 days with a cumulative increase of 13.74%. Autohome rose 3.20% over 5 days with a cumulative increase of 10.29%. Li Auto rose 11.35% over 4 days with a cumulative increase of 19.08%. Yum China rose 7.13% over 4 days with a cumulative increase of 11.83%. Bilibili rose 17.02% over 4 days with a cumulative increase of 25.62%. GDS Holdings rose 4.97% over 4 days with a cumulative increase of 25.17%. Melco Resorts & Entertainment rose 9.00% over 4 days with a cumulative increase of 15.96%. Haidilao rose 7.32% over 4 days with a cumulative increase of 24.18%. Huya rose 4.61% over 4 days with a cumulative increase of 15.80%. 21Vianet Group rose 6.23% over 4 days with a cumulative increase of 25.42%. TuanChe rose 1.08% over 4 days with a cumulative increase of 21.43%. Metalpha Technology rose 0.83% over 4 days with a cumulative increase of 9.01%. Jowell Global rose 4.94% over 4 days with a cumulative increase of 9.68%.
The stocks that have consecutively fallen include LightInTheBox with a latest decrease of -3.39% over 8 consecutive days, with a cumulative decrease of -38.04% during this period. Yunhong CTI fell -4.01% over 6 days with a cumulative decrease of -24.71%. KXIN fell -9.38% over 5 days with a cumulative decrease of -20.03%. Yuchai International fell -2.52% over 4 days with a cumulative decrease of -6.10%. Haozhi Health fell -16.67% over 4 days with a cumulative decrease of -86.67%. Antelope Enterprise fell -5.06% over 4 days with a cumulative decrease of -31.82%.
EHang's EH216-S Unmanned eVTOL Completes First Flight in Brazil
EHang announced that its unmanned electric vertical take-off and landing (eVTOL) aircraft EH216-S successfully completed its first flight in Brazil, marking a new milestone. The test flight was conducted in partnership with local operator Gohobby Future Technologies ("Gohobby") in the city of Quadra, São Paulo State, Brazil, which is significant for advancing UAM solutions in the country. Brazil, a pioneer in Latin American aviation, has a leading aviation industry and is one of the world's largest eVTOL markets.
JD Fashion Launches First Offline Outlet, Aiming for "Deep Discount Sales"
Following an additional "10 billion" investment in apparel at the end of August and a 50% site-wide subsidy in mid-September, JD Fashion is making a major offline move. On September 24, it was reported that JD will launch an outlet full-channel business operation and open its first JD Outlet offline store in October at Hailan Pegasus Water City in Jiangyin, Wuxi, Jiangsu Province. The online JD Outlet official flagship store will also open officially. The outlet project is a collaboration with Hailan Group, a leading domestic apparel company. JD will offer self-operated products for sale in "JD Outlet" stores, while Hailan Group will provide a rich supply of products for offline sources and store operations, creating a price advantage. The store will feature six major zones: sports apparel, outdoor, men's and women's wear, children's wear, light luxury, and footwear, with brands like Under Armour, Adidas, and PUMA, targeting "deep discount sales."
Agora Launches aPaaS Product "Lingdong Conference"
On September 24, Agora officially launched the aPaaS product "Lingdong Conference," which leverages RTE technology and generative AI capabilities to offer clients a low-code video conferencing platform. It features a multi-cloud, multi-platform design, providing SFU+MCU hybrid architecture deployment capabilities, supporting flexible deployment and expansion, mainly targeting clients' meeting, collaboration, and dispatch needs.
Pinduoduo Expands "Billion Discount" Refund Coverage to All Products
Today, Pinduoduo upgraded the merchant rights for refunding technical service fees under the "Billion Discount" initiative, expanding the refund scope from previously activity-specific products to all products. No merchant application is needed; refunds are automatically credited back to the merchant's account upon order refund, further reducing operating costs for over ten million merchants.
Tmall Announces 300 Billion Consumer Vouchers and Red Packets for Double 11, Invests Hundreds of Billions to Reduce Merchant Operating Costs
This year's Tmall Double 11 will offer an additional 300 billion in consumer vouchers and red packets on top of reductions and direct discounts. It will also invest billions to purchase traffic, collaborating with over 200 internet platforms to fully expand customer reach for merchants. Before the Double 11 event, Taobao Tmall will officially support multiple payment methods, including Alipay and WeChat. Additionally, this year’s Double 11 will invest billions to comprehensively reduce merchants' operating costs: to address high funding costs, Tmall Double 11 will offer merchants 0% commission fast repayment services; for "Billion Subsidy" merchants, the platform will 100% return Tmall commissions for goods participating in the "Billion Subsidy"; and for Taobao merchants, Tmall Double 11 will fully implement promotions such as commission-free events and store broadcasts.
Miniso Becomes Largest Shareholder in Yonghui Superstores with a 6.3 Billion Investment
Yonghui Superstores hit the limit-up, as Miniso announced a 6.3 billion investment in Yonghui Superstores, acquiring 29.4% equity to become the largest shareholder.