Alibaba, JD and Meituan Surge After China Stimulus Announcement

Bloomberg09-27

(Bloomberg) -- Alibaba Group Holding Ltd., JD.com Inc. and Meituan enjoyed their best trading days in years after the Chinese government announced measures to stimulate the troubled domestic economy. ...

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Meituan and JD rose more than 20% in Hong Kong trading across Thursday and Friday, marking each firm’s best two-day performance since 2022, while Alibaba rose as much as 15% over the period.The Chinese government surprised many with the breadth of its stimulus actions, offering support for the ailing property sector, cash handouts to residents facing hardship and more social security benefits for unemployed graduates. The announcements helped ease concern about the debt-ridden property market and high youth unemployment figures, boosting consumer and internet firms.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE0008368742.USD":"首域中国增长基金I Acc","BK4534":"瑞士信贷持仓","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4558":"双十一","BK4587":"ChatGPT概念","BK4575":"芯片概念","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","BK4509":"腾讯概念","BK4220":"综合零售","BK4524":"宅经济概念","JD":"京东","LU0918141705.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AM\" (HKD) INC","BK4535":"淡马锡持仓","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","BK4527":"明星科技股","BK4538":"云计算","IE00BGV7N243.SGD":"FSSA Global Emerging Markets Focus I Acc SGD","BK4526":"热门中概股","BK4579":"人工智能","BK4588":"碎股","LU1282648689.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AMG\" (USD) INC","LU0797268264.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (HKD) ACC","BK4503":"景林资产持仓","LU1046421795.USD":"富达环球科技A-ACC","BK4502":"阿里概念","BK4505":"高瓴资本持仓","LU0918141887.USD":"安联亚洲实际收益股票基金","BK4581":"高盛持仓","BK4504":"桥水持仓","MPNGY":"美团ADR","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0106959298.USD":"UBS (LUX) EQUITY FUND - EMERGING MARKETS SUSTAINABLE LEADERS (USD) \"P\" (USD) ACC","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","LU1046422090.SGD":"Fidelity Pacific A-SGD","BK4548":"巴美列捷福持仓","BABA":"阿里巴巴","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","BK4565":"NFT概念","09618":"京东集团-SW","LU0880133367.SGD":"UBS (LUX) EQUITY FUND CHINA OPPORTUNITY USD \"P\" (SGD) ACC","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","09988":"阿里巴巴-W","BK4554":"元宇宙及AR概念","LU2226246903.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","BK4531":"中概回港概念","BK4585":"ETF&股票定投概念"},"translate_title":"中国宣布刺激措施后，阿里巴巴、京东和美团股价飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MPNGY":0.9,"BABA":0.9,"JD":0.9,"09988":0.6,"09618":0.6},"content_text":"(Bloomberg) -- Alibaba Group Holding Ltd., JD.com Inc. and Meituan enjoyed their best trading days in years after the Chinese government announced measures to stimulate the troubled domestic economy.\nConsumer tech firms were swept up in a buying spree that extended across sectors on bets that Beijing’s wide-ranging new policies will have the desired effect. Meituan and JD rose more than 20% in Hong Kong trading across Thursday and Friday, marking each firm’s best two-day performance since 2022, while Alibaba rose as much as 15% over the period.\nThe Chinese government surprised many with the breadth of its stimulus actions, offering support for the ailing property sector, cash handouts to residents facing hardship and more social security benefits for unemployed graduates. The announcements helped ease concern about the debt-ridden property market and high youth unemployment figures, boosting consumer and internet firms.\nCash-rich tech firms like Hangzhou-based Alibaba are leading a surge in repurchases of shares listed in Hong Kong this year. Returns from China’s biggest tech stocks are surpassing those of global rivals, with Alibaba’s shareholder yield at more than 8% at the start of this month, more than double that of any company in the Magnificent Seven in the US. Up until this week, the repurchases had largely been a defensive move to staunch stock declines as doubts about economic weakness persisted, though together with the new announcements from Beijing, the buyback spree is helping revive interest in China’s embattled tech firms.\nWhat Bloomberg Economics Says\nTogether with the People’s Bank of China’s surprise stimulus Tuesday, and the strong statement of intent from the Politburo Thursday to use fiscal and monetary measures to support growth, the program suggests policymakers are getting more serious about reviving the recovery, stabilizing employment and maintaining social stability. Given the growing policy momentum, more support in other areas looks likely — especially steps focusing on stabilizing the job market and lifting consumption demand.\n— Eric Zhu, Bloomberg economist\nClick here for the full analysis\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Policy And Regulatory","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2470219397"}