JD, Leapmotor, and HSTECH Will Surge Upward
1. $JD.com(JD)$ $JD-SW(09618)$
The order flow in JD's HK-listed shares is dominated by bullish orders today despite it being down more than 2%. Sign of accumulation by institutional buyers ahead of tomorrow's 3Q24 earnings release?
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One of the few Chinese EV makers doing very well but flying under the radar of Wall Street is Leapmotor which you can only trade in the HKEX Group.
Its 3Q24 rev +74% to RMB 9.86b ($1.4b) and net loss narrowed to RMB 690m ($98m) beating expectations by around 40%. At a market cap of $4.6bn, trading at a P/S of 1.3X fwd 12m revenue.
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The Hang Seng Tech Index closed flat on Wednesday but it started out very weak following overnight losses on Wall Street. Late buying in the final 30 minutes of the session lifted most names, particularly $TENCENT(00700)$ $Tencent Holding Ltd.(TCEHY)$ , which announced a strong set of 3Q24 results after the closing bell.
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