Zacks Investment Ideas feature highlights: JD.com, Futu, UP Fintech, FXI and Alibaba

Zacks10-09

For Immediate Release Chicago, IL – October 9, 2024 – Today, Zacks Investment Ideas feature highlights JD.com JD and Futu Holdings FUTU, UP Fintech Holding TIGR, iShares China ETF FXI and Alibaba BABA...

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The Chinese stimulus package included monetary stimulus, which slashed mortgage rates to help rejuvenate China’s real estate market, which has been ailing years.A combination of depression-like sentiment, bargain-basement equity valuations, and heavy short interest sent Chinese stocks flying higher in their biggest rally in years. Chinese ADRs like JD.com and Futu Holdings are up more than 50% in the past month, while UP Fintech Holding soared a staggering 240% before retreating Tuesday!Chinese stocks cratered on Tuesday. 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The Chinese stimulus package included monetary stimulus, which slashed mortgage rates to help rejuvenate China’s real estate market, which has been ailing years.\nA combination of depression-like sentiment, bargain-basement equity valuations, and heavy short interest sent Chinese stocks flying higher in their biggest rally in years. Chinese ADRs like JD.com  and Futu Holdings are up more than 50% in the past month, while UP Fintech Holding  soared a staggering 240% before retreating Tuesday!\nChinese Stocks Suffer Worst Day Since Financial Crisis\nChinese stocks finally took a well-deserved breather after a multi-week face-ripping rally. The iShares China ETF (a proxy for large-cap Chinese stocks) had soared from $25 to $37 over the past few weeks and gained ground in 11 of 13 sessions before retreating ~9% Tuesday. Several news sources quickly pointed out that the one-day drubbing in Chinese stocks was the worst since the heart of the Global Financial Crisis when former banking juggernaut Lehman Brothers went bust.\nChina: Should Investors Buy the Dip?\nThough the one-day drop in Chinese stocks is painful for those who chased the bull move, such action is standard in the context of the mega short squeeze that has occurred. A 10% pullback in the depths of a bear market is entirely different from a 10% pullback after a significant short squeeze.\nFor instance, FXI is giving back roughly 1/3 of its move higher. To give investors an idea of its strength, the stock is retreating to its short term 10-day moving average for the first time. The current level is a perfect place for investors who missed the initial bull move but didn’t chase strength and are likely to jump in at these levels.\nBuybacks are a Bullish Catalyst\nAlibaba, China’s leading e-commerce company, is worth watching as a proxy for investors. Like Apple years ago, BABA is driving its stock higher through buybacks. In fact, the company bought back its own shares nearly every day in September and buybacks totaled more than $4 billion in Q3. BABA paused buybacks as Chinese equities started squeezing, but I anticipate that the company will use the dip to resume buybacks, thus cutting the supply of shares and driving them higher.\nChinese Equities Remain Cheap\nDespite the epic short squeeze in Chinese stocks, valuations remain historically cheap. For example, BABA’s price-to-sales ratio of ~2x is a fifth of what it was in 2020.\nBottom Line\nChinese stocks cratered on Tuesday. However, the fundamentals and technical suggest that the pullback is likely a buying opportunity rather than a top.\nWhy Haven't You Looked at Zacks' Top Stocks?\nSince 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.\nToday you can access their live picks without cost or obligation.\nSee Stocks Free >>\nMedia Contact\nZacks Investment Research\n800-767-3771 ext. 9339\nsupport@zacks.com\nhttps://www.zacks.com\nPast performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\niShares China Large-Cap ETF (FXI): ETF Research Reports\nJD.com, Inc. (JD) : Free Stock Analysis Report\nAlibaba Group Holding Limited (BABA) : Free Stock Analysis Report\nFutu Holdings Limited Sponsored ADR (FUTU) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":4,"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":"4.29.3","shortVersion":"4.29.3","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/2474216838"}