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.
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Chinese stocks listed in the U.S. have staged a sharp comeback, buoyed by more supportive policies in the world’s top two economies and signs of resilience among Chinese consumers. What’s Happening As of Thursday’s close, the MSCI Overseas China Index, which primarily tracks American depositary receipts in Chinese companies, had risen 24% this year, nearly recouping all of last year’s 27% loss. ADRs,... … [Read more...] about U.S.-Listed Chinese Stocks Stage Major Rally in 2019
Mainland Chinese shares surged Monday on signs of easing trade tensions with the U.S. and top-level support for the country’s financial sector. By late morning, the benchmark Shanghai Composite Index rose 3.3% to a seven-month high. Its smaller counterpart in Shenzhen gained 4.1%, while the startup-heavy ChiNext index rose 4.7%. The gains... … [Read more...] about Chinese Stocks Jump After U.S. Postpones Tariff Increase
By Shinichi SaoshiroTOKYO (Reuters) - Asian stocks rose across the board on Wednesday as expectations that Beijing would implement stimulus to soften the economic blow from the Sino-U.S. trade war helped Chinese shares rally.Spreadbetters expected European stocks to follow Asia's lead and open higher, with Britain's FTSE rising 0.15 percent, Germany's DAX adding 0.2 percent and France's CAC gaining 0.2 percent.MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.95 percent. Global equities have been on a steady footing this week as investors looked past the latest escalation in the U.S.-China trade feud, seen by some market participants as less severe than expected. Hong Kong's Hang Seng was up 1.3 percent and the Shanghai Composite Index rose more than 1 percent following a surge of 1.8 percent the previous day. Economists at Bank of America Merrill Lynch wrote China was likely to step up policy easing as a buffer against the negative effects of higher tariffs. "In our … [Read more...] about Asia rises as stimulus hopes lift Chinese stocks amid trade row
Weekly domestic crude production and inventories fell as shale earnings continue with Diamondback Energy (FANG) and Viper Energy Partners (VNOM) after the market closes Wednesday. Occidental Petroleum (OXY) also reports late. X The Energy Information Administration reported weekly U.S. oil inventories fell by 1.4 million barrels while gasoline stockpiles fell by 2.9 million barrels. Analysts surveyed by S&P Global Platts expect a 3.7 million-barrel decline. Late Tuesday, the American Petroleum Institute, an industry group, reported a 6 million-barrel drop in crude supplies. U.S. crude production fell to 10.8 million barrels per day from 10.9 million barrels in the week prior, EIA said. U.S. crude tumbled 2% to $67.81 per barrel. Brent fell 1.6% to $73.48. China announced a 25% tariff on $16 billion worth of U.S. goods including crude. Chinese crude imports in July rose to 8.48 million bpd vs. 8.36 million in June according to General … [Read more...] about U.S. Oil Production Drops As Top Shale Stocks Get Ready To Report