Meituan reports 3rd consecutive profitable quarter, sales up 22%
$MEITUAN-W(03690)$$MEITUAN(MPNGY)$ 3Q Results Out: Revenue +22.1% to RMB 76.5B vs. RMB 76B est. (BEAT) Adjusted NPAT +62.4% to RMB 5.7B vs. RMB 5.3B est. (BEAT)Meituan reported a bigger-than-expected 22% rise in third-quarter revenue, China’s largest food delivery firm extended its recovery from the global health crisis impact of last year.I'm wondering how this can't be manipulation. Meituan crashed in the AM on light volume, only to be bought at the lows on high volume and in the run-up to the close (look at the vol spike). Then the company announces massive 3Q earnings beat 35 mins after the end of the day.
China's property sector is pulling back away from the abyss.
China's property sector is pulling back away from the abyss. Beijing is starting to bring out the bigger guns to ensure this sector doesn't derail the economy's more gradual growth outlook. Stable financing to builders + low cost financing to homebuyers + Singapore-style mass housing devt program. Sunac China jumps 8% in Hong Kong as the property developer is expected to satisfy restructuring conditions.Image
Here's what happened in China's markets today (11/6)
Asia markets: Hang Seng jumps, Caixin PMI below 50, RBA raises rates1. China’s urban employment was stable for the first 9 months of the year despite the weaker overall environment.Every year, Beijing is under enormous pressure to ensure there are enough jobs to satisfy its swelling workforce as around 10 million new graduates enter the job market. For the year until September 30, #China’s urban employment grew 10.22 million, attaining 85% of its annual target of 12 million new jobs. That pushed urban unemployment rate to 5%. While China has ceased publishing youth unemployment rate, improvement in youth employment was seen improving, possibly owing to stronger hiring in China’s tech sector. $iShares MSCI China ETF(MCHI)$ ,
Very strong rally in $HSTECH today following Thursday's tentative bounce
Very strong rally in $HSTECH(HSTECH)$ today following Thursday's tentative bounce. We broke through that downtrend and looks like another 10% move higher - a move that's been known to happen in just 2 to 3 days. Strong EV sales and news of pension funds and insurance companies buying into the stock market fueling optimism. Still a lot of headwinds. We need to get past this earnings season with better guidance from companies like $Alibaba(BABA)$$JD.com(JD)$$Tencent Holding Ltd.(TCEHY)$ , $Baidu(BIDU)$ , $Bilibili Inc.(BILI)$ ,
Demand for APPLE's new flagship smartphone remains weaker than expected
News: $JD.com(JD)$'s Apple $Apple(AAPL)$ franchise store offers higher price cuts in the iPhone 15 series than Tmall during the 'Double Eleven' shopping festival, which is the first cut in one of the official supply channels ever seen.ImageMy comment:JD's stores cut $Apple(AAPL)$ 's #iPhone15 prices deeper than those in $Alibaba(BABA)$ 's TMall. Indicative of weaker-than-expected demand for the new flagship smartphone despite a foreseen recovery in industry sales in 4Q (i.e. Golden Week sales +15% YoY).
$NIO Inc.(NIO)$ Sept deliveries +44% YoY, -19.1% MoM. Impact of 30k yuan price cut in mid-June seen in sales but how it impacts overall profitability remains the big concern.”Some argue that Nio is treading a financial tightrope to chase its long-term vision. But the company’s CEO, William Li, remains resolute about its future prospects.”Chinese multinational automobile company Nio has invested over RMB 3 billion in R&D for consecutive quarters, accounting for over 20% of its revenue. The result? Substantial losses in excess of RMB 6 billion, setting a gloomy tone for Nio’s R&D efforts. $NIO Inc.(NIO)$ ’s heavy outlay on R&D in recent quarters forms part of a broader m
My ETFs Watch List of Semiconductor & Gaming Entertainment Industry
I don't think the AI wave is finished. I think the beat on earnings of $NVIDIA Corp(NVDA)$ proved another blowout quarter, and the indications are even for more of the same in the coming quarters, however.We have $NVIDIA Corp(NVDA)$and company $C3.ai, Inc.(AI)$ having more than tripled so far this year. It tells you how young the market is because a lot of most of the money is just going into a few names that are already established.So as the industry matures, you will start to see money flow out of these already very profitable positions into those new up-and-coming names.So it's not yet over with AI investments about to hit $200 billion by 2025. So, these are ind