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Shares of US-listed Chinese Stocks Are Possibly Trading Higher Ahead of Expectations That the People's Bank of China Will Cut Rates. Also, the Sector May Be Experiencing Strength After the Fed Cut Rates by 50 Basis Points.
Hong Kong stocks continued to rise strongly in the afternoon! The Hang Seng Index and the H-Share Index rose more than 2%, while the Technology Index surged more than 3%; large technology stocks are all performing well, with jd.com up more than 7% and Mei
The three major stock indexes in Hong Kong rose unilaterally throughout the day, with a surge in market bullish sentiment. The Hang Seng Tech Index continued to climb in the afternoon, leading the way with a sustained increase of 3.8%, ultimately closing significantly higher at 3.25%, reaching a two-month high. The Hang Seng Index and the Mainland China Stock Index rose by 2% and 2.1% respectively.
Express News | YU Minhong once again resigned as the legal representative of a company under the New Oriental Culture and Tourism Group.
Hong Kong stocks surge | New Oriental-S (09901) rises more than 4%, the tutoring industry is expected to maintain good growth, and the company is at a new stage of growth.
New Oriental-S (09901) rose by over 4%, as of the publication, it rose by 4.63%, to 48.55 Hong Kong dollars, with a turnover of 54.0585 million Hong Kong dollars.
BOCI Securities: Market correction brings the opportunity to buy new oriental (EDU.US).
According to the research report from Bank of China International, although the stock price of New Oriental (EDU.US) has recently experienced a pullback, it continues to outperform the overall market in recent market adjustments. The bank pointed out that the prospects for the after-school tutoring industry remain robust. The market leaders in after-school tutoring focus on major subjects such as mathematics and English, and the cost of after-school tutoring has become one of the essential expenses for families in mainland China. Due to the intensifying competition in the job market, the demand for after-school tutoring to improve children's competitiveness in the college entrance examination is becoming increasingly strong. The bank expects the tutoring industry to continue to experience healthy growth. The bank reiterates its "buy" rating on New Oriental with a target price of $99.41, which is 6 higher than the current price.
US stocks closed | S&P and Dow set new intraday highs, Chinese concept stocks performed well, li auto inc rose more than 12%.
In the late trading session, the US stock market saw a significant decline, but the S&P 500 index rose for the seventh consecutive day, and the Nasdaq and semiconductor index erased gains of more than 1%, with Intel rising 8% and closing up 2.7%, while Nvidia declined 1%. The Chinese concept index rose nearly 2%, and Li Auto Inc. rose more than 12%.
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