To The Moon

With a $280 billion government rescue plan announced by the authorities to steam the stock market rout and restored market confidence, the Chinese stock market has been buoyed by the prospect that the market may have bottomed out. Also in an attempt to revive the domestic electric vehicle industry, China has promised to help its EV makers expand overseas through overcoming foreign trade restrictions and improving their overseas compliance capabilities.

At the same time, Jack Ma and Joe Tsai, the co-founders of Alibaba, have overtaken SoftBank to emerge as the e-commerce giant's top and second-largest shareholders respectively, after the duo took advantage of its earlier depressed share prices to aggressively scooped up its shares, as votes of their confidence over the recovery of the tech giant after several years of underperformance first triggered by regulatory crackdown of the Chinese tech sector. More significantly, it marks the first mark after nearly a quarter of a century for Alibaba's largest stake to return to Chinese ownership. The market seems to agree that a turnaround of Alibaba's fortunes is in play as it cheered the move. Hence, I'm cautiously optimistic of the Chinese tech behemoth $Alibaba(BABA)$  .

Likewise, the Chinese EV startup trio $NIO-SW(09866)$  ,$XPENG-W(09868)$ and $LI AUTO-W(02015)$   , as well as the latest EV entrant $XIAOMI-W(01810)$  appear to be adapting well to waning domestic demands, intensifying local competition and excessive capacity, as they turn their focus to foreign markets. With their lower cost structures and richer EV lineup to capture different segments of the market, I'm sure that the Chinese Tesla-wannabes will give Tesla a run of its money.

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