24H | China ADRs & ETFs Fall. YINN Drops 13%; CHAU Drops over 10%; Nio Slides 6%; PDD Holdings, JD.com Sink 4%

Tiger Newspress12-10

China ADRs & ETFs continued to fall in overnight trading. YINN fell 13%; CHAU fell over 10%; Bilibili dropped nearly 10%; XPeng, Nio fell 6%; iQiyi, PDD Holdings, JD.com fell over 4%.

China A50 index futures fell 3.6% after a 4.6% rally in prior session.

China ADRs & ETFs skyrocked on Monday. China will adopt an "appropriately loose" monetary policy next year as part of steps to support economic growth, state media reported on Monday citing a Politburo meeting, marking the first such shift towards loosening since 2010.

China may raise its budget deficit to the highest in three decades and make the deepest interest-rate cuts since 2015 following the boldest stimulus signals from its top leaders in years, according to economists.

At least seven Chinese brokerages forecast that next year’s fiscal deficit target could reach 4% of gross domestic product, the widest since a major tax reform in 1994. Beijing has historically kept its budget deficit ratio at or below 3%.

Six of the brokerages expect policy rate cuts of 40 to 60 basis points next year, echoing earlier predictions from several foreign banks, according to research notes published since late Monday after a meeting of top leaders.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Guavaxf30
    12-10
    Guavaxf30
    NIO is a long term medium risk play.  For those banging on yesterday's 12% rise, sorry to say it will likely retrace downwards. You need to be prepared to hold for longer than a year to see real appreciation. 
Leave a comment
1
1