Nasdaq Golden Dragon China Index Rises 0.74%, NIO Surges 8.09%

Chinese stocks showed mixed performance on Friday, with the Nasdaq Golden Dragon China Index rising 0.74%. NIO surged 8.09%, while Pinduoduo and JD.com gained 3.67% and 0.38%, respectively. Conversely, Alibaba and NetEase declined 0.83% and 0.35%. In broader US markets, the Dow Jones rose 0.08%, while the Nasdaq and S&P 500 fell 0.40% and 0.29%, respectively. Retail sales met expectations, but consumer confidence declined, prompting some investors to take profits.

Chinese stocks demonstrated mixed performance on Friday, with the Nasdaq Golden Dragon China Index rising by 0.74%. NIO surged by 8.09%, while Pinduoduo and JD.com gained 3.67% and 0.38%, respectively. Conversely, Alibaba and NetEase declined by 0.83% and 0.35%. In broader US markets, the Dow Jones rose by 0.08%, while the Nasdaq and S&P 500 fell by 0.40% and 0.29%, respectively. Retail sales met expectations, but consumer confidence declined, prompting some investors to take profits.

Institutional investors have been making notable adjustments to their stakes in Chinese equities. Neuberger Berman Group LLC increased its stake in NetEase, Inc. (NASDAQ:NTES) by 51.0%, owning 193,939 shares valued at approximately $19.94 million as of the end of the first quarter [1]. This move comes as the company received a "strong buy" rating from Wall Street Zen, while JPMorgan Chase downgraded the stock from "overweight" to "neutral," raising its price target to $140.00.

Meanwhile, Singapore's Temasek Holdings and Saudi Arabia's Public Investment Fund (PIF) have made significant adjustments to their portfolios. Temasek cut its stake in Alibaba Group Holding by two-thirds to 1.85 million shares and reduced its NetEase holdings by 38% to 1.45 million shares. It also increased its stake in Pinduoduo by 28% and Yum China by 30% [2]. PIF sold all its 1.61 million Alibaba shares, worth $212 million, at the end of June.

These moves reflect broader trends in the market, where investors are adjusting their portfolios in response to volatile markets and rising US-China tensions. The changes in institutional holdings and analyst ratings provide valuable insights into the current sentiment and potential future performance of these companies.

References:
[1] https://www.marketbeat.com/instant-alerts/filing-neuberger-berman-group-llc-raises-stake-in-netease-inc-nasdaqntes-2025-08-14/
[2] https://www.scmp.com/business/china-business/article/3322039/temasek-fine-tunes-chinese-stock-portfolio-pif-exits-alibaba-sovereign-fund-tweaks?module=top_story&pgtype=homepage