As China's affluent middle class continues to grow, so has their desire to invest more of their money in stock markets, including a strong interest in U.S. equities. X It's fueled by the rise of mobile online trading, bullish trends in the U.S. stock market and the emergence of brand-name China stocks such as Alibaba (BABA), Baidu (BIDU) and Tencent Holdings (TCEHY). Reasons also include the growing interest among millennials to further balance their investment portfolio with securities. Recent initial public offerings of Hong Kong-based Futu Holdings (FHL) and UP Fintech (TIGR) in Beijing are capitalizing on these trends. They both specialize in mobile online trading platforms. Both came public in March. UP Fintech, better known in Asia as Tiger Brokers, raised $103 million. Futu raised $90 million. Futu and Tiger Brokers are seeing rapid growth, particularity among upwardly mobile Chinese consumers around age 30 with rising incomes. IBD Newsletters Get exclusive IBD analysis … [Read more...] about Chinese Stock Market Investors Expanding Their Portfolios To U.S.
Chinese stock traders
Chinese stocks fell sharply as traders and investors returned after a weeklong national holiday, catching up to a global selloff that dragged down many emerging markets while China’s financial markets were closed. The benchmark Shanghai Composite Index lost 3.2% by early afternoon Monday, with its smaller but tech-heavy counterpart in Shenzhen dropping 3.3%. The losses were broad-based, and included banks and tech stocks such as ZTE Corp. that are at the forefront of the escalating U.S.-China trade spat.... … [Read more...] about After Golden Week, Chinese Stocks Lose Shine on Investor Pessimism
By Noel RandewichSAN FRANCISCO (Reuters) - A steep downturn in heavyweight Chinese internet stocks and recent weakness in half of the so-called FANG group have some investors worried that a key component of Wall Street's near-decade long rally may be low on fuel.Outstanding gains in Facebook <FB.O>, Amazon <AMZN.O>, Netflix <NFLX.O> and Alphabet <GOOGL.O> have underpinned much of the U.S. stock market's rally in recent years, along with the broader tech sector, but the group is widely viewed as overbought and valuations remain expensive.Backed up by strong earnings growth and investor confidence in Silicon Valley's innovation track record, the S&P 500 technology index <.SPLRCT> is up 16 percent in 2018, making tech Wall Street's top performer.But a recent slump in China's own superstar technology stocks, brought into sharper focus after Tencent Holdings <0700.HK> reported its first profit drop in almost 13 years on Wednesday, has increased … [Read more...] about Chinese internet stock sell-off may shake faith in FANGs
By Swati PandeySYDNEY (Reuters) - Asian shares pared gains on Monday as Chinese stocks swung into negative territory, dragged lower by the escalating Sino-U.S. trade war, though Beijing's efforts to stop sharp declines in the yuan helped support the currency.Spreadbetters pointed to a tentative start for European shares with futures for London's FTSE <FFIc1> up 0.07 percent. E-Minis for the S&P 500 <ESc1> were up 0.08 percent. MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> climbed 0.3 percent, after having risen about 1 percent earlier in the day.Chinese shares turned negative with the blue-chip share index <.CSI300> and Shanghai's SSE Composite <.SSEC> down more than 1 percent each. Japan's Nikkei <.N225> and South Korea's Kospi index <.KS11> slipped 0.1 percent. Among the gainers, Australian shares <.AXJO> added 0.6 percent and Hong Kong's Hang Seng index <.HSI> rose 0.5 percent. The trade dispute … [Read more...] about Asian stocks trim gains as China, Japan swing to red, trade fears weigh
By Swati PandeySYDNEY (Reuters) - Asian shares pared gains on Monday as Chinese stocks swung into negative territory, driven lower by the escalating Sino-U.S. trade war, though Beijing's efforts to stop sharp declines in the yuan helped support the currency.MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.5 percent, having risen about 1 percent earlier in the day.Chinese shares turned negative with the blue-chip share index and Shanghai's SSE Composite down 0.7 percent each. Japan's Nikkei was flat, while Australian shares added 0.5 percent and Hong Kong's Hang Seng index gained 0.7 percent.The trade dispute remains a live issue for markets with China proposing tariffs on $60 billion worth of U.S. goods on Friday, while a senior Chinese diplomat cast doubt on prospects of talks with Washington to resolve the bitter trade conflict. That was followed by a report in China's state media saying Friday's retaliatory tariffs were "rational" while accusing the United States … [Read more...] about Asian stocks trim gains as China swings to red, trade fears weigh