The Hang Seng Index has been extend its world-beating run-up from April, rising almost 5% this week, as stocks' beaten-down valuations drive inflows and the mainland's regulator pledged to support the offshore market by expanding the exchange link programme with the city and encouraging quality listings. Optimism is growing that China's recovery will gather further pace after two key cities of Hangzhou and Xian scrapped all restrictions on home purchases, and both imports and exports beat projections last month. Let's look into a few hot Chinese stocks in market. BABA Alibaba Group Holding, one of the world's largest e-commerce platforms, reported a 10-per cent jump in net profit, its biggest annual earnings growth since 2021, as its revenue beat analysts' forecasts in the financial
A year and a half into the AI boom, there is growing evidence that the hype machine is slowing down. Drastic warnings about AI posing an existential threat to humanity or taking everyone's jobs have mostly disappeared. While money keeps pouring into AI, very few companies are turning a profit on the tech, which remains hugely expensive to build and run. The immense cost of training AI algorithms, which requires running mind-boggling amounts of data through warehouses of expensive and energy-hungry computer chips, means that even as companies like Microsoft, OpenAI and Google slowly begin charging for AI tools, they are still spending billions to develop and run those tools. NVIDIA Nvidia is set to release its first-quarter earnings report next week, on May 22. Nvidia has been steadily bea
The underlying shift towards electric vehicles is continuing despite a recent slowdown in the pace of growth. Last week, another Chinese electric vehicle maker Zeekr, owned by Geely, was listed on the New York Stock Exchange. However, the top EV leaders remain Tesla and BYD for the moment. Let's dip further into their chart review. TESLA Last month, Musk announced Tesla's first round of mass layoffs for the year, telling staff in a memo that he was laying off more than 10% of employees. Tesla employed more than 140,000 people before the layoffs. The widespread job cuts came as the company grappled with poor sales and increased competition from Chinese automakers such as BYD. Tesla daily chart For Tesla, the share price pullbacked for over 2 weeks after being rejected somewhere nearb
The United States plan to levy tariffs on imports from China's emerging industries, including a potential 100% tariff on Chinese electric vehicles (EV). Experts argue that the US' protective measures reveal its defensive mindset and its struggles in competing with China's new energy industries. NIO On Wednesday, 15 May, NIO launched the first vehicle in its new lower-priced brand Onvo which aims to compete there with Tesla's Model Y, the world’s best-selling EV. Nio unveiled the Onvo L60 SUV with a sticker price starting from 219,900 yuan, 12% below the price of Tesla's Model Y which starts at 249,900 yuan in China. Nio plans to start delivery of the Onvo L60 in September. NIO daily chart As we can observe from the chart above, the stock started well early of the week and erased all
Amazing week for meme stocks, notably GameStop (GME) and AMC Theatres (AMC) which have surged significantly at the beginning of the week, although their share prices are pulled back from peak towards the end of the week. This rally is attributed to a social media post by Roaring Kitty, the key figure in the 2021 meme stock frenzy. His renewed activity has sparked speculation of a comeback. For such, we can observe mostly all the memes speculated last week. My top picks of FFIE and AMC also skyrocketed to the moon. You may refer back to my last Saturday article and see how I catch this surge through technical analysis. Well, I cannot deny that it consists of a certain portion of good luck. AMC Despite extreme volatility and over 100% growth these days, AMC stock is far fro
* Wall Street retreats on mixed corporate earnings forecasts; Hang Seng cheers on housing policy 🇺🇸 S&P 500: -0.19% 📉 🇺🇸 Nasdaq: -0.25% 📉 🇪🇺 Stoxx 600 Index: -0.09% 📉 🇯🇵 Nikkei 225 Index: 1.39% 📈 🇭🇰 Hang Seng Index: 1.60% 📈 🇨🇳 CSI 300 Index: 0.39% 📈 * U.S. stocks fell, with the S&P 500 and Nasdaq Composite down -0.2% and -0.3%, respectively, as investors adjusted interest rate cut expectations in response to slowing inflation and strong corporate earnings data. * U.S. jobless claims fell by 11,000 to 222,000 in the week ended May 11, beating estimates of 219,000, suggesting the labor market remains quite tight and is finding a delicate balance. * Asia-Pacific stocks rose, with Hong Kong's Hang Seng rising 1.6% to a nine-month high and China's CSI 300 rising 0.4%, driven by supporti
* Wall Street welcomes signs of cooling of inflation, but remains elevated, Fed remains vigilant 🇺🇸 S&P 500: 1.19% 📈 🇺🇸 Nasdaq: 1.42% 📈 🇪🇺 Stoxx 600: 0.61% 📈 🇯🇵 Nikkei 225 Index: 0.08% 📈 🇭🇰 Hang Seng Index: Market closed 🇨🇳 CSI 300 Index: -0.77% 📉 * U.S. stocks cheered, with the S&P 500 and Nasdaq Composite rising 1.2% and 1.4%, respectively, as inflation data rose less than expected, calming sentiment and boosting hopes of a rate cut from the Federal Reserve. * The U.S. CPI rose less than expected in April, up 0.3% month-on-month and 3.4% year-on-year. The growth rate was lower than expected. This is a positive development for cooling down after three consecutive months of higher-than-expected data. This also fueled market expectations for the Federal Reserve this year. A bet on e
* Wall Street sighs with relief at avoiding further rate hikes after Fed Chairman Powell's unsurprising speech; Chinese markets remain cautious ahead of tech earnings 🇺🇸 S&P 500: 0.50% 📈 🇺🇸 Nasdaq: 0.75% 📈 🇪🇺 Stoxx 600: 0.16% 📈 🇯🇵 Nikkei 225 Index: 0.46% 📈 🇭🇰 Hang Seng Index: -0.19% 📉 🇨🇳 CSI 300 Index: -0.21% 📉 • U.S. stocks cheered, with the S&P 500 and Nasdaq Composite rebounding 0.5% and 0.8% respectively. In a cautious statement, Federal Reserve Chairman Powell emphasized patience in waiting for the current high interest rates to work to curb inflation and pledged to increase Interest rates are no longer on the table, citing some relief in the producer price index, which was mixed but not by much. • U.S. PPI beat expectations, rising steadily by 0.5% quarter-on-quarter, with ra
* Caution returns as investors stay on the sidelines ahead of Fed's Powell speech; Hang Seng soars to 9-month high on earnings optimism 🇺🇸 S&P 500: -0.02% 📉 🇺🇸 Nasdaq: 0.29% 📈 🇪🇺 Stoxx 600: 0.09% 📈 🇯🇵 Nikkei 225 Index: -0.13% 📉 🇭🇰 Hang Seng Index: 0.81% 📈 🇨🇳 CSI 300 Index: -0.04% 📉 * U.S. stocks were mixed, with the S&P 500 -0.02% edging lower and the Nasdaq Composite inching up 0.3% as caution grew ahead of key inflation data and earnings reports. * Asia-Pacific stocks were mixed, with Hong Kong's Hang Seng rising 0.8% to close above 19,000, while China's CSI 300 -0.04% edged lower as markets were optimistic about an earnings recovery and hoped policy support would replace the weekend Released on pessimistic credit expansion. The Nikkei 225 briefly fell -0.1% ahead of quarterly gr
* Wall Street resumes pace later this week, bracing for incoming inflation data 🇺🇸 S&P 500: 0.18% 📈 🇺🇸 Nasdaq: -0.02% 📉 🇪🇺 Stoxx 600: 0.78% 📈 🇯🇵 Nikkei 225 Index: 0.41% 📈 🇭🇰 Hang Seng Index: 2.30% 📈 🇨🇳 CSI 300 Index: 0.06% 📈 * U.S. stocks were mixed, with the S&P 500 gaining 0.2% and the Nasdaq Composite -0.02% edging lower, as investors digested relatively hawkish comments from Federal Reserve members and looked ahead to key inflation data. * Asia-Pacific stocks were mixed, with Hong Kong's Hang Seng rising 2.3% to an 8-month high, while China's CSI 300 edged up 0.06% as two major cities, Hangzhou and Xi'an, added to the Contest for all home buying restrictions. The Nikkei 225 briefly rose 0.4% as upbeat household spending boosted confidence in the economy. * China's CPI in April