Kuaishou Earnings Overview Kuaishou reported earnings that came in below analyst estimates, posting a third-quarter loss of RMB -3 billion. Some analysts have lowered their revenue and user growth estimates because of this release, as COVID and other macroeconomic headwinds have weighed on the company’s growth lately. Nonetheless, Kuaishou cut costs and improved its margin…
China Last Night KraneShares Week in Review Asian equities were mixed this week while Hong Kong-listed internet and real estate stocks outperformed. President Biden met with President Xi on the sidelines of the G20 on Monday, notching a key improvement in relations between the two superpowers and the first time the leaders have met face…
China Last Night KraneShares Alibaba & NetEase Q3 Earnings Overview Alibaba (BABA US, 9998 HK) reported before the US market open this morning. Zero COVID policy continued to weigh on domestic consumption, and thus Alibaba, as one tends to hoard cash and not spend it if worried about facing a quarantine. We knew this was…
China Last Night KraneShares Key News Asian equity markets posted small losses except for India which managed a small gain. The Asia dollar posted a loss of -0.23% versus the US dollar breaking a four-day win streak. Hong Kong and China were off on profit-taking after the recent surge higher with real estate underperforming as…
China Last Night KraneShares Week in Review Auditors from the US Public Company Accounting Oversight Board (PCAOB) have left Hong Kong, which investors took as a positive sign that they had a successful trip reviewing the audit books of auditors of US-listed Chinese companies. This week, we witnessed some reprieve from China’s zero COVID policy…
China Last Night Kraneshares Key News Asian equities had a nice start to the week as Hong Kong outperformed to the upside. Investors continue to read the tea leaves on China’s reopening as small, incremental positives unfold. Yes, this weekend’s National Health Commission (NHC) meeting reiterated zero COVID policies, though this isn’t where a policy…
Xi Jinping’s presidency will continue for a third five-year term, scaring investors concerned about his crackdown on China’s tech companies in recent years. Getty Images Chinese president Xi Jinping’s move on Sunday to secure an unprecedented third term in power and replace four of the seven members of the powerful standing committee of the Politburo…
Richard Liu Qiangdong, founder and chairman of JD.com, at the Nasdaq MarketSite in New York in … [+] 2014. Michael Nagle/Bloomberg Shares in Chinese companies traded in the U.S. plunged in trade this morning on concerns about a left turn in policy in the country after a Communist Party congress re-elected Xi Jinping as leader…
China Last Night KraneShares Week in Review Asian equities had a choppy week of trading as Mainland investors poured into Hong Kong stocks, awaiting the results of the 20th National Party Congress (NPC), which has been taking place all week. Electric vehicle maker BYD announced strong preliminary Q3 results on Tuesday, indicating a net profit…
China Last Night KraneShares Key News Asian equity markets were mixed as China outperformed. In the words of a Mainland stock broker, it was “an exciting trading day”. Onshore China (Shanghai/Shenzhen) outperformed offshore China (Hong Kong) in a fairly dramatic fashion today as a late-day rally reversed the Shanghai Composite from -1.53% to +1.53%, Shenzhen…