Lack of China Tech Short Covering Means Rally Is Fresh Buying

Bloomberg10-04

Hang Seng Tech Index up more than 45% in less than four weeksShort positions on Alibaba, JD.com and Baidu stayed stableChinese tech stocks have had a tremendous rally since the nation announced its ...

Source Link

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.

Report

Comment（1）

King19
·10-04
These ppl are still hoping / praying perhaps to convince more that China is just a temp rebound and would be normAlice's.. so that they won't need to cover their short...
Reply
Like
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2472606557?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-04 12:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2472606557","market":"hk","top_or_hot":-1,"title":"Lack of China Tech Short Covering Means Rally Is Fresh Buying","media":"Bloomberg","content":"<div>\n<p>Hang Seng Tech Index up more than 45% in less than four weeksShort positions on Alibaba, JD.com and Baidu stayed stableChinese tech stocks have had a tremendous rally since the nation announced its ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-10-04/lack-of-china-tech-short-covering-means-rally-is-fresh-buying?srnd=homepage-americas\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lack of China Tech Short Covering Means Rally Is Fresh Buying</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLack of China Tech Short Covering Means Rally Is Fresh Buying\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-04 12:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-10-04/lack-of-china-tech-short-covering-means-rally-is-fresh-buying?srnd=homepage-americas><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hang Seng Tech Index up more than 45% in less than four weeksShort positions on Alibaba, JD.com and Baidu stayed stableChinese tech stocks have had a tremendous rally since the nation announced its ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-10-04/lack-of-china-tech-short-covering-means-rally-is-fresh-buying?srnd=homepage-americas\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1105468828.SGD","symbol_name":"Allianz Total Return Asian Equity AM DIS H2-SGD","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2024-10-04/lack-of-china-tech-short-covering-means-rally-is-fresh-buying?srnd=homepage-americas","article_id":"2472606557","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472606557","pubTimestamp":1728014400,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":" -- Chinese tech stocks have had a tremendous rally since the nation announced its stimulus spree. And this time, it may be real.Short positions on American Depositary Receipts of major companies including Alibaba Group Holding Ltd., JD.com Inc. and Baidu Inc. haven’t changed dramatically in recent days, according S3 Partners and JPMorgan Chase & Co. That could be good news for the market.“The sharp rally in Chinese ADRs over the past week has been mostly the result of fresh buying rather than short covering,” JPMorgan Chase & Co. strategists including Nikolaos Panigirtzoglou wrote in a note this week. “Short covering in individual stocks appears to have played only a modest role in the Chinese equity rally.”The Hang Seng Tech Index, which tracks 30 Chinese tech companies listed in Hong Kong, has soared more than 45% in less than four weeks, including a record surge in the six days through Wednesday. Alibaba, JD.com and food-delivery company Meituan were among those that had some of th","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","DRAG":"中国龙ETF-Roundhill","BABA":"阿里巴巴","BK4505":"高瓴资本持仓","LU0918141705.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AM\" (HKD) INC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","BK4581":"高盛持仓","BK4560":"网络安全概念","BIDU":"百度","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","BK4504":"桥水持仓","LU1046421795.USD":"富达环球科技A-ACC","IE00BFMHRM44.USD":"NEUBERGER BERMAN GLOBAL EQUITY MEGATRENDS \"A\" (USD) ACC","000001.SH":"上证指数","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD","YINN":"三倍做多富时中国ETF-Direxion","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","IE00BVYPNW00.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) ACC","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","SG9999002224.SGD":"Allianz Global High Payout SGD","LU1506573853.SGD":"MANULIFE GF GLOBAL EQUITY \"AA\" (SGD) INC","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","PDD":"拼多多","09988":"阿里巴巴-W","LU1883839398.USD":"AMUNDI FUNDS INCOME OPPORTUNITIES \"A2\" (USD) ACC","LU1046422090.SGD":"Fidelity Pacific A-SGD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","IE00B3T34201.USD":"BNY MELLON GLOBAL EQUITY INCOME \"B\" (USD) INC","LU1051768304.USD":"贝莱德新兴市场股票收益A6","BK4585":"ETF&股票定投概念","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","SG9999002232.USD":"Allianz Global High Payout USD","LU0731783394.SGD":"Fidelity Global Dividend A-MINCOME(G)-SGD","LU0651946864.USD":"贝莱德新兴市场股票收益A2","JD":"京东","BK4587":"ChatGPT概念","BK4575":"芯片概念","BK4525":"远程办公概念","IE00BFXG1179.USD":"BNY MELLON U.S. EQUITY INCOME \"B\" (USD) INC","BK4524":"宅经济概念","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","BK4527":"明星科技股","IE00BVYPNV92.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) ACC","BK4020":"通信设备","BK4526":"热门中概股","BK4579":"人工智能","BK4588":"碎股","HSI":"恒生指数","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","BK4503":"景林资产持仓","LU1688375341.USD":"贝莱德中国灵活股票基金","BK4502":"阿里概念"},"translate_title":"缺乏中国科技空头回补意味着反弹是新的买盘","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"YINN":1.1,"000001.SH":1.1,"DRAG":1.1,"HSI":1.1,"BABA":1,"BIDU":1,"JD":1,"PDD":0.7,"09988":0.6},"content_text":"Hang Seng Tech Index up more than 45% in less than four weeksShort positions on Alibaba, JD.com and Baidu stayed stableChinese tech stocks have had a tremendous rally since the nation announced its stimulus spree. And all signs point to fresh buying being the main cause.Short positions on American Depositary Receipts of major companies including Alibaba Group Holding Ltd., JD.com Inc. and Baidu Inc. haven’t changed dramatically in recent days, according S3 Partners and JPMorgan Chase & Co. If the bears were forced out of their bets, the rally could get further momentum.“The sharp rally in Chinese ADRs over the past week has been mostly the result of fresh buying rather than short covering,” JPMorgan Chase & Co. strategists including Nikolaos Panigirtzoglou wrote in a note this week. “Short covering in individual stocks appears to have played only a modest role in the Chinese equity rally.”The Hang Seng Tech Index, which tracks 30 Chinese tech companies listed in Hong Kong, has soared more than 45% in less than four weeks, including a record surge in the six days through Wednesday. Alibaba, JD.com and food-delivery company Meituan were among those that had some of their best trading days in years as investors swept up in a buying spree after the Chinese government announced measures to stimulate the troubled domestic economy. The tech gauge climbed on Friday for the seventh in eight days.While short sellers have incurred mark-to-market losses, there hasn’t been a rush to cover bearish bets, Ihor Dusaniwsky, managing director of predictive analytics for S3 wrote in an Oct. 1 report. The short interest for Alibaba, JD.com and Baidu had remained around 2% to 3% of shares available. Should the rally continue, though, expect a “significant amount” of short covering, which will push up stock prices even further, Dusaniwsky warned.“The data is surprising as the magnitude of the bounce will normally cause shorts to be wiped out many times over and forced-covered in a traditional risk monitoring and control framework,” said Han Piow Liew, a fund manager at Maitri Asset Management Pte. “The latest round of stimulus pivot by the Chinese government shows that the leadership has significant zeal and intent to turn things around.”Chinese tech stocks have had a tough few years. While the nation’s economy weakened, a government supervision on the sector and fierce e-commerce competition hurt results at the firms that once were market darlings.Short sellers who are holding on to their positions may be doing so because they’re skeptical on the recent rally, according to Sonija Li, an analyst at MIB Securities Hong Kong Ltd. Morningstar Inc.’s Chelsey Tam notes that consumers’ “downtrading trend” is still pronounced in sectors including e-commerce, travel and food delivery.Still, when it comes to the options market, bulls are alive and well. Bets for gains on a US exchange-traded fund tracking China’s large-cap stocks are near their priciest ever relative to bearish wagers after record call trading. Alibaba’s and JD.com — companies that have seen a burst of bullish options trading recently — are among its biggest components.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":356427352506752,"gmtCreate":1728027871792,"gmtModify":1728027875629,"author":{"id":"4088135301967120","authorId":"4088135301967120","name":"King19","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"4088135301967120","authorIdStr":"4088135301967120"},"htmlText":"These ppl are still hoping / praying perhaps to convince more that China is just a temp rebound and would be normAlice's.. so that they won't need to cover their short...&nbsp;","listText":"These ppl are still hoping / praying perhaps to convince more that China is just a temp rebound and would be normAlice's.. so that they won't need to cover their short...&nbsp;","text":"These ppl are still hoping / praying perhaps to convince more that China is just a temp rebound and would be normAlice's.. so that they won't need to cover their short...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/356427352506752","repostId":2472606557,"repostType":2,"repost":{"id":"2472606557","pubTimestamp":1728014400,"share":"https://ttm.financial/m/news/2472606557?lang=&edition=fundamental","pubTime":"2024-10-04 12:00","market":"hk","language":"en","title":"Lack of China Tech Short Covering Means Rally Is Fresh Buying","url":"https://stock-news.laohu8.com/highlight/detail?id=2472606557","media":"Bloomberg","summary":" -- Chinese tech stocks have had a tremendous rally since the nation announced its stimulus spree. And this time, it may be real.Short positions on American Depositary Receipts of major companies including Alibaba Group Holding Ltd., JD.com Inc. and Baidu Inc. haven’t changed dramatically in recent days, according S3 Partners and JPMorgan Chase & Co. That could be good news for the market.“The sharp rally in Chinese ADRs over the past week has been mostly the result of fresh buying rather than short covering,” JPMorgan Chase & Co. strategists including Nikolaos Panigirtzoglou wrote in a note this week. “Short covering in individual stocks appears to have played only a modest role in the Chinese equity rally.”The Hang Seng Tech Index, which tracks 30 Chinese tech companies listed in Hong Kong, has soared more than 45% in less than four weeks, including a record surge in the six days through Wednesday. Alibaba, JD.com and food-delivery company Meituan were among those that had some of th","content":"<html><head></head><body><ul style=\"\"><li><p>Hang Seng Tech Index up more than 45% in less than four weeks</p></li><li><p>Short positions on Alibaba, JD.com and Baidu stayed stable</p></li></ul><p>Chinese tech stocks have had a tremendous rally since the nation announced its stimulus spree. And all signs point to fresh buying being the main cause.</p><p style=\"text-align: start;\">Short positions on American Depositary Receipts of major companies including Alibaba Group Holding Ltd., JD.com Inc. and Baidu Inc. haven’t changed dramatically in recent days, according S3 Partners and JPMorgan Chase &amp; Co. If the bears were forced out of their bets, the rally could get further momentum.</p><p style=\"text-align: start;\">“The sharp rally in Chinese ADRs over the past week has been mostly the result of fresh buying rather than short covering,” JPMorgan Chase &amp; Co. strategists including Nikolaos Panigirtzoglou wrote in a note this week. “Short covering in individual stocks appears to have played only a modest role in the Chinese equity rally.”</p><p>The Hang Seng Tech Index, which tracks 30 Chinese tech companies listed in Hong Kong, has soared more than 45% in less than four weeks, including a record surge in the six days through Wednesday. Alibaba, JD.com and food-delivery company Meituan were among those that had some of their best trading days in years as investors swept up in a buying spree after the Chinese government announced measures to stimulate the troubled domestic economy. The tech gauge climbed on Friday for the seventh in eight days.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/3f2f54faf100a7b72e399d4ec6685d7b\" tg-width=\"1200\" tg-height=\"675\"/></p><p>While short sellers have incurred mark-to-market losses, there hasn’t been a rush to cover bearish bets, Ihor Dusaniwsky, managing director of predictive analytics for S3 wrote in an Oct. 1 report. The short interest for Alibaba, JD.com and Baidu had remained around 2% to 3% of shares available. Should the rally continue, though, expect a “significant amount” of short covering, which will push up stock prices even further, Dusaniwsky warned.</p><p>“The data is surprising as the magnitude of the bounce will normally cause shorts to be wiped out many times over and forced-covered in a traditional risk monitoring and control framework,” said Han Piow Liew, a fund manager at Maitri Asset Management Pte. “The latest round of stimulus pivot by the Chinese government shows that the leadership has significant zeal and intent to turn things around.”</p><p style=\"text-align: start;\">Chinese tech stocks have had a tough few years. While the nation’s economy weakened, a government supervision on the sector and fierce e-commerce competition hurt results at the firms that once were market darlings.</p><p>Short sellers who are holding on to their positions may be doing so because they’re skeptical on the recent rally, according to Sonija Li, an analyst at MIB Securities Hong Kong Ltd. Morningstar Inc.’s Chelsey Tam notes that consumers’ “downtrading trend” is still pronounced in sectors including e-commerce, travel and food delivery.</p><p style=\"text-align: start;\">Still, when it comes to the options market, bulls are alive and well. Bets for gains on a US exchange-traded fund tracking China’s large-cap stocks are near their priciest ever relative to bearish wagers after record call trading. Alibaba’s and JD.com — companies that have seen a burst of bullish options trading recently — are among its biggest components.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lack of China Tech Short Covering Means Rally Is Fresh Buying</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLack of China Tech Short Covering Means Rally Is Fresh Buying\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-04 12:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-10-04/lack-of-china-tech-short-covering-means-rally-is-fresh-buying?srnd=homepage-americas><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hang Seng Tech Index up more than 45% in less than four weeksShort positions on Alibaba, JD.com and Baidu stayed stableChinese tech stocks have had a tremendous rally since the nation announced its ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-10-04/lack-of-china-tech-short-covering-means-rally-is-fresh-buying?srnd=homepage-americas\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","DRAG":"中国龙ETF-Roundhill","BABA":"阿里巴巴","BK4505":"高瓴资本持仓","LU0918141705.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AM\" (HKD) INC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","BK4581":"高盛持仓","BK4560":"网络安全概念","BIDU":"百度","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","BK4504":"桥水持仓","LU1046421795.USD":"富达环球科技A-ACC","IE00BFMHRM44.USD":"NEUBERGER BERMAN GLOBAL EQUITY MEGATRENDS \"A\" (USD) ACC","000001.SH":"上证指数","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD","YINN":"三倍做多富时中国ETF-Direxion","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","IE00BVYPNW00.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) ACC","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","SG9999002224.SGD":"Allianz Global High Payout SGD","LU1506573853.SGD":"MANULIFE GF GLOBAL EQUITY \"AA\" (SGD) INC","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","PDD":"拼多多","09988":"阿里巴巴-W","LU1883839398.USD":"AMUNDI FUNDS INCOME OPPORTUNITIES \"A2\" (USD) ACC","LU1046422090.SGD":"Fidelity Pacific A-SGD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","IE00B3T34201.USD":"BNY MELLON GLOBAL EQUITY INCOME \"B\" (USD) INC","LU1051768304.USD":"贝莱德新兴市场股票收益A6","BK4585":"ETF&股票定投概念","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","SG9999002232.USD":"Allianz Global High Payout USD","LU0731783394.SGD":"Fidelity Global Dividend A-MINCOME(G)-SGD","LU0651946864.USD":"贝莱德新兴市场股票收益A2","JD":"京东","BK4587":"ChatGPT概念","BK4575":"芯片概念","BK4525":"远程办公概念","IE00BFXG1179.USD":"BNY MELLON U.S. EQUITY INCOME \"B\" (USD) INC","BK4524":"宅经济概念","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","BK4527":"明星科技股","IE00BVYPNV92.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) ACC","BK4020":"通信设备","BK4526":"热门中概股","BK4579":"人工智能","BK4588":"碎股","HSI":"恒生指数","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","BK4503":"景林资产持仓","LU1688375341.USD":"贝莱德中国灵活股票基金","BK4502":"阿里概念"},"source_url":"https://www.bloomberg.com/news/articles/2024-10-04/lack-of-china-tech-short-covering-means-rally-is-fresh-buying?srnd=homepage-americas","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2472606557","content_text":"Hang Seng Tech Index up more than 45% in less than four weeksShort positions on Alibaba, JD.com and Baidu stayed stableChinese tech stocks have had a tremendous rally since the nation announced its stimulus spree. And all signs point to fresh buying being the main cause.Short positions on American Depositary Receipts of major companies including Alibaba Group Holding Ltd., JD.com Inc. and Baidu Inc. haven’t changed dramatically in recent days, according S3 Partners and JPMorgan Chase & Co. If the bears were forced out of their bets, the rally could get further momentum.“The sharp rally in Chinese ADRs over the past week has been mostly the result of fresh buying rather than short covering,” JPMorgan Chase & Co. strategists including Nikolaos Panigirtzoglou wrote in a note this week. “Short covering in individual stocks appears to have played only a modest role in the Chinese equity rally.”The Hang Seng Tech Index, which tracks 30 Chinese tech companies listed in Hong Kong, has soared more than 45% in less than four weeks, including a record surge in the six days through Wednesday. Alibaba, JD.com and food-delivery company Meituan were among those that had some of their best trading days in years as investors swept up in a buying spree after the Chinese government announced measures to stimulate the troubled domestic economy. The tech gauge climbed on Friday for the seventh in eight days.While short sellers have incurred mark-to-market losses, there hasn’t been a rush to cover bearish bets, Ihor Dusaniwsky, managing director of predictive analytics for S3 wrote in an Oct. 1 report. The short interest for Alibaba, JD.com and Baidu had remained around 2% to 3% of shares available. Should the rally continue, though, expect a “significant amount” of short covering, which will push up stock prices even further, Dusaniwsky warned.“The data is surprising as the magnitude of the bounce will normally cause shorts to be wiped out many times over and forced-covered in a traditional risk monitoring and control framework,” said Han Piow Liew, a fund manager at Maitri Asset Management Pte. “The latest round of stimulus pivot by the Chinese government shows that the leadership has significant zeal and intent to turn things around.”Chinese tech stocks have had a tough few years. While the nation’s economy weakened, a government supervision on the sector and fierce e-commerce competition hurt results at the firms that once were market darlings.Short sellers who are holding on to their positions may be doing so because they’re skeptical on the recent rally, according to Sonija Li, an analyst at MIB Securities Hong Kong Ltd. Morningstar Inc.’s Chelsey Tam notes that consumers’ “downtrading trend” is still pronounced in sectors including e-commerce, travel and food delivery.Still, when it comes to the options market, bulls are alive and well. Bets for gains on a US exchange-traded fund tracking China’s large-cap stocks are near their priciest ever relative to bearish wagers after record call trading. Alibaba’s and JD.com — companies that have seen a burst of bullish options trading recently — are among its biggest components.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":14,"commentSize":1,"repostSize":1,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false}}