I certainly believe that these stocks have bottomed.
Systematically, the reasons for the drop these few weeks were the threat of delisting Chinese ADRs from the US market and inherently a potential trade war, COVID-19 cases surge in China, the Russia-Ukraine war, inflation risks and rate hikes, and the relentless regulatory risks in China that have been going on for the past year and still going on…
The huge rally today is in response to the Chinese government’s support for overseas listing and with some progress with the US regulatory bodies to formulate a cooperation plan. Decoupling of both markets is detrimental to both sides and the Chinese can’t afford taking a huge influx of these companies back into their market. This promises some form of backing away from a trade war. It also seems like the US is pressing less hard against the Chinese for their stand in the Russia-Ukraine war. Thus, there is some light for the tension reduction between both countries.
However, the other risks like COVID-19 cases which would threaten supply chain, regulatory scrutiny by the Chinese government, rate hikes through the year remain.
While I believe the bottom is over, the road back to former glory and greater glory will be a bumpy one. Within this group, they are heterogeneous and they face different degrees of toughness in their hike back up.
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Whereas @Venus_M , hers done at the main page