Tech Rally Puts China Stocks on Track for Best Day This Month

Food delivery behemoth Meituan’s stock surged as much as 7.8% to be the biggest contributor to the advance on the Hang Seng China Enterprises Index, which climbed nearly 3%. The company’s results due later Thursday are expected to show sales surged 32% in the second quarter.

Baidu Inc.’s shares climbed 6%, extending their rally after the company earlier this week reported sales that rose the most in more than a year. The search-engine operator joined China’s largest internet firms such as Alibaba Group Holding Ltd. and Tencent Holdings Ltd. in rediscovering growth. The gains are coming “on the back of solid earnings from Chinese companies lately,” said Redmond Wong, a market strategist at Saxo Capital Markets.The Hang Seng Tech Index jumped as much as 4.2%. The rally came on the heels of a stellar set of results from Nvidia Corp., the standard bearer of the artificial intelligence theme, which sparked gains in technology shares across Asia. The CSI 300 Index, a benchmark of onshore Chinese stocks, rose more than 1%.

GQG Partners Emerging Markets Equity Fund, one of the world’s biggest fund investing in developing-nation stocks, is slowly rebuilding its exposure to Chinese internet firms, Bloomberg News reported on Wednesday.

ایران آخرین اخبار, ایران سرفصلها

Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.

Tech stocks rally, yields drop, ahead of Nvidia earnings: Stock market news todayStocks were higher on Wednesday afternoon with investors bracing for results from Nvidia after the bell.
منبع: YahooFinanceCA - 🏆 47. / 63 ادامه مطلب »

China Property Stocks Gauge on Cusp of Erasing Reopening RallyChinese real estate stocks are close to losing all the gains notched during last year’s massive reopening rally as troubles mount for the debt-laden sector.
منبع: BNNBloomberg - 🏆 83. / 50 ادامه مطلب »

Sudden Rally in China Stocks Has Traders Scratching Their HeadsChinese stocks staged a sudden rally late on Tuesday, with several traders attributing the rebound to technical reasons in the absence of any fresh triggers.
منبع: BNNBloomberg - 🏆 83. / 50 ادامه مطلب »

Stock market today: Wall Street ticks higher in early trading, led again by Big TechNEW YORK (AP) — Wall Street is ticking higher in early trading, on track for its first back-to-back gain in what’s been a miserable August. The S&P 500 was up 0.3% early Tuesday, coming off a gain powered by Big Tech stocks.
منبع: SooToday - 🏆 8. / 85 ادامه مطلب »