HSTECH slides due to a lack of new catalysts and a strong US

BrianTycangco鄭彥渊
10-25

$HSTECH(HSTECH)$ slides 2.6% on Thursday (10/24) due to a lack of new catalysts and a strong US dollar (bearish for risk assets like Chinese equities). $KraneShares Hang Seng TECH Index ETF(KTEC)$ $KraneShares CSI China Internet ETF(KWEB)$

Short-selling turnover picked up to 15.9% by the end of the day, slightly lower than the mid-day ratio. $BABA-W(09988)$ at 10% $JD-SW(09618)$ at 17.5% $BIDU-SW(09888)$ at 19.4% in terms of short turnover. But EV names had some of the highest short-selling rates, with $NIO-SW(09866)$ at 59%.

Most HK-listed CN techs ended the day trading just 1% to 2% below their ADR equivalents. No chatter about any new policy announcement coming up soon.

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Major Meeting: Can China Stocks Soar Again?
The Standing Committee of the National People's Congress of China will convene a meeting on November 4. It is widely expected that significant fiscal stimulus policies will be announced. Analysts believe that the outcome of the US presidential election could influence the scale of these policies. If Trump is elected, the scale of the stimulus may increase by 10% to 20% compared to the current plan. ------------------ Are you bullish on China's policies or not? Will the stimulus policy come as estimated?
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