China Last Night KraneShares Baidu Earnings Overview Prior to the US open, Baidu (BIDU US, 9888 HK) reported first-quarter financial results that beat analyst expectations. Baidu is a good canary in the coal mine as its search business is driven by advertising, which is coming back following the repeal of the zero COVID policy. Revenue…
China Last Night KraneShares Key News Asian equities had a strong start to the week though Southeast Asia was mostly lower. Mainland China and Hong Kong opened down but made strong positive moves in the afternoon. Friday was a very weak day in US-listed China stocks as China’s loan data was weak and the low…
China Last Night KraneShares Key News Asian equities were lower overnight on light volumes and US debt ceiling concerns in advance of today’s US CPI release. Foreign investors bought a healthy $804 million of Mainland stocks today via Northbound Stock Connect. China and Hong Kong were mixed as Mainland traders booked profits in SOEs with…
China Last Night KraneShares Week in Review Asian equities had a surprisingly strong week, both on an absolute basis and relative to the US and Europe, though Hong Kong and Mainland China had short weeks due to the May Day holiday. China’s May Day travel numbers were released this week and indicated strong demand for…
China Last Night KraneShares Key News Asian equities were lower overnight with Mainland China still on holiday until tomorrow. Hong Kong was lower though not nearly as much as US-listed China ADRs yesterday. Yesterday’s bear raid took advantage of Asian investors being on vacation as there was no news except some clickbait nonsense. If you…
China Last Night KraneShares Key News Asian stocks were largely higher post yesterday’s global holiday, less the United States while China remains on holiday until Thursday. Australia’s central bank unexpectedly hiked interest rates by 25 basis points which had one of our currency traders fired up as they believe it is an indication that central…
People walk outside the Shanghai Stock Exchange building in Shanghai in 2020. (Photo by Hector … [+] RETAMAL / AFP) (Photo by HECTOR RETAMAL/AFP via Getty Images) AFP via Getty Images Stock exchanges in mainland China, Hong Kong and Taiwan will be closed on Monday, May 1 for a May Day holiday. Mainland China’s stock…
China Last Night KraneShares Week in Review Geopolitical concerns weighed on China equity markets this week as China’s incrementally improving economic data has yet to translate fully into stock performance. President Xi and Ukraine’s Zelensky held a consequential phone call on Wednesday. Both leaders had positive comments about the call. BYD sold 440,000 electric vehicles…
China Last Night KraneShares Week in Review Asian equities were mostly higher after a turbulent week that included a cooler inflation print in the US and key economic positive economic data coming out of China, including growth in exports and a very low inflation print. Prosus’ selling of its stake in Tencent and SoftBank’s sale…
China Last Night KraneShares Key News Overnight the Hang Seng Index and the Hang Seng Tech closed at +0.17% and -0.17% after US-listed China ADRs fell more than -4% yesterday! Let’s compare how Hong Kong’s most heavily traded closed in Hong Kong today versus their US-listed ADRs yesterday: Tencent gained +1.68% versus a -5.42% drop,…