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☆ Worried about Alibaba’s share price slump? Analysts name 4 alternatives in China tech
▼ + stars: | 2023-02-02 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

No Chinese tech stock has generated as much excitement as Alibaba , one of the most recognizable names in the Chinese internet sector. More than 76% of analysts covering the stock rate it a "buy," giving it average upside of 31%, according to FactSet data. Kuaishou is rated buy or overweight by 94% of analysts covering the stock, who give it average upside of around 24.4%. It is rated buy by 88% of analysts covering it, and has average upside of 37.7%, according to FactSet data. Rounding off the list is food delivery giant Meituan , with average upside of 32.5%.

Jan 27 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. There are no major Asian economic indicators or corporate earnings releases on Friday to really drive market direction, and volumes will be relatively light due to China still being closed for Lunar New Year. Hong Kong's Hang Seng is open again after the Lunar New Year holiday, and its 2.37% surge to a 10-month high on Thursday was the regional standout. It's worth noting that this measure of annual inflation was negative for most of 2021 and only 0.2% a year ago. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Wall Street is excited about Chinese tech — and loves one mega-cap stock in particular
▼ + stars: | 2023-01-24 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

A growing number of positive analyst calls has reinforced optimism in the sector, with recent share price gains reflecting renewed interest. How is Wall Street playing the resurgence in Chinese tech? Morgan Stanley too, has named Alibaba its "top pick" in the Chinese tech sector — for the first time in three years. Cohen is reported to have told Alibaba executives that he thought the company could reach double-digit sales growth and nearly 20% free cashflow growth over the coming five years. He said he would "not be surprised" to see Alibaba's share price rise to $140 to $150 — a "significant amount of upside" from current levels.

☆ Alibaba shares hit 6-month high after Jack Ma cedes control of Ant Group, amid a broad rally in Asian shares
▼ + stars: | 2023-01-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The gains also come on the back of a broader market rally in Asian shares, thanks to China's reopening. A top Chinese central banker suggested over the weekend Beijing's tech crackdown is coming to a close. The Hang Seng Tech Index — an index that tracks the 30 largest tech companies listed in Hong Kong — closed 3.2% higher. Shares of Hong Kong-listed Chinese tech giants Tencent and NetEase closed 3.6% and 2.6% higher respectively. Hong Kong's Hang Seng Index closed 1.9% higher, the Shanghai Composite Index gained 0.6%, and the Shenzhen Composite Index rose 0.7%.

The fairly upbeat mood in Asia and Europe was crushed in U.S. hours as another collapse in Tesla Inc (TSLA.O) shares dragged tech lower, soured risk appetite, and prompted defensive flows into Treasuries and the dollar. Hong Kong's Hang Seng tech index kicked off the year with a stellar 2.5% rise on Tuesday and the MSCI Asia tech index has advanced three days in a row, its best run in a month. Global financial conditions - across developed and emerging markets - have tightened since then, according to Goldman Sachs. Its U.S. financial conditions index has risen some 40 bps, mainly due to higher long rates and lower equities. If global tech and equity bulls are to get any traction, easing financial conditions and central bank rate hike expectations will have to set in first.

☆ China funds with energy bets stand out in a bleak year
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +3 min

SHANGHAI, Dec 30 (Reuters) - Chinese fund managers who made big bets on energy companies are celebrating a year that was brutal for many of their peers. Huang Hai, who manages three funds for Wanjia Asset Management, far outperformed the market by wagering on energy stocks such as CNOOC , China Shenhua Energy (601088.SS) and Shaanxi Coal (601225.SS). Energy companies including Shaanxi Coal, Shanxi Lu'an Environmental Energy (601699.SS), Guanghui Energy (600256.SS) and Shenhua Energy are among her fund's top 10 holdings. A Chinese index fund that tracks the Dow Jones U.S. The Lion Oil and Gas Energy Equity Fund, which invests in global energy funds under China's outbound QDII scheme, delivered a return of 53% for domestic investors.

☆ From recovery to regulation: How China's tech giants could fare in 2023 after a bruising year
▼ + stars: | 2022-12-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +11 min

But investors are starting to feel slightly more optimistic toward Chinese tech giants in 2023. Jakub Porzycki | Nurphoto | Getty ImagesIt's been another rough year for China's tech stocks. Xin Sun King's College LondonHow the exit from zero-Covid is handled could ultimately determine the extent of the rebound for China tech. Since the start of 2021, the Hang Seng tech index in Hong Kong, which includes most of China's tech giants, has fallen more than 50%. Firstly, Chinese tech firms have been cutting costs and exiting non-core businesses in order to boost profitability.

☆ Chinese stocks rally on reopening hopes; Morgan Stanley upgrades to overweight
▼ + stars: | 2022-12-05 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

The Hang Seng TECH Index, which represents the 30 largest technology companies listed in Hong Kong, surged 8% in Asia's trade. Electronic vehicle-maker Xpeng gained 24%, leading gains for the broader index, Li Auto jumped 12% and Nio climbed more than 15%. The Hang Seng index rose 4% while China's CSI 300 index, which tracks the largest largest mainland-listed stocks, rose almost 2%. Hong Kong-listed casino operators also saw significant gains, with MGM China rising 19%, Wynn Macau climbing 16% and Sands China adding 13%. Morgan Stanley upgrades to overweight

☆ U.S.-listed Chinese stocks rally as investors turn bullish on reopening shift
▼ + stars: | 2022-12-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Shares of Chinese companies listed in the U.S. jumped Monday after China loosened more Covid restrictions to accelerate the reopening of the economy. The index holds 65 companies whose common stocks are publicly traded in the U.S. The rally came as some big cities including Beijing and Shenzhen are taking steps to ease Covid testing requirements and quarantine rules amid an economic slowdown and public unrest. Morgan Stanley upgraded Chinese stocks to an overweight rating in light of the change in policy. The Hang Seng Tech Index, which represents the 30 largest technology companies listed in Hong Kong, surged 9.3% in Asia trading hours.

☆ China's stocks, yuan tumble as COVID protests rattle nerves
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +4 min

A U.S. crackdown on Chinese tech giants citing national security concerns also weighed on shares of technology firms. Nevertheless, the social unrest and rising coronavirus cases had fuelled expectations of an earlier end to China's zero-COVID policy, putting a floor under stocks and boosting tourism and consumer shares. "The market does not like uncertainties that are difficult to price and the China protests clearly fall into this category. While state media has not reported the protests, photos and videos of the protests circulated on social media. "The demonstrations ... mean the current COVID policy mix is no longer politically sustainable.

China’s technology sector has taken a pounding since watchdogs cancelled Ant’s $37 billion stock market debut at the last minute in 2020. The Hang Seng Tech index (.HSTECH), which includes social media giant Tencent (0700.HK) and JD, has fallen another 38% this year. China's powerful market regulator proposed amendments on Tuesday to a law on unfair competition. The e-commerce giant intends, in addition, to allocate at least 10 billion yuan to offer employees interest-free loans to buy a house. The benefits include plans to allocate 10 billion yuan ($1.40 billion) to a fund to assist employees of JD and recently acquired courier firm Deppon Logistics with buying homes.

☆ Goldman Sachs says China is still 'months away' from reopening
▼ + stars: | 2022-11-07 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

Thomas Peter | ReutersStocks in Hong Kong and China rallied at the end of a volatile week last week, driven by speculation that Beijing could soon ease its Covid-zero policy — but economists at Goldman Sachs say China may still be "months away" from reopening. We estimate that a full reopening could drive 20% upside for Chinese stocks... Goldman Sachs"The actual reopening is still months away as elderly vaccination rates remain low and case fatality rates appear high among those unvaccinated based on Hong Kong official data," Goldman Sachs economists led by Hui Shan said in a Sunday note. China stocks may jump 20% at reopeningGoldman maintains its view that China could reopen in the second quarter of 2023. The latest Hong Kong government statistics show only 60.81% of people aged 80 and older have received all three doses. "A safe and orderly reopening is very difficult right now," the Goldman Sachs note said.

The Hang Seng (.HSI) surged 5.3% and notched its biggest weekly gain in 11 years. Shares in online giants Alibaba (9988.HK) and JD.com (9618.HK) each rose more than 10% and the Hang Seng Tech index (.HSTECH) rose 7.5%. However the Hang Seng remains down 30% this year against a 24% fall in world stocks (.MIWD00000PUS). China stocks market capBUY THE RUMOURChanges to COVID policies have not been officially flagged. Yet markets have desperate reasons to rally after the Hang Seng hit a 13-year low last month in the wake of China's Communist Party Congress.

SINGAPORE/HONG KONG, Nov 4 (Reuters) - Chinese stocks soared and the yuan jumped on Friday, setting Hong Kong's Hang Seng on course for its best week in a decade, on hopes for twin relief in U.S.-China tension and COVID rules. The Hang Seng (.HSI) surged either side of the midday break and was last up 7%, and heading for a weekly gain of more than 10% for the first time since November 2011. The Shanghai Composite (.SSEC) rose 2.7% and was headed for a 5.6% weekly gain, the largest in more than two years. The Hang Seng Tech index (.HSTECH) rose 8%. The yuan rose about 0.9% to 7.2410 per dollar, despite broad dollar gains elsewhere.

☆ China, HK stocks rebound sharply on unverified social media posts over COVID easing
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Nov 1 (Reuters) - Hong Kong and China stocks jumped on Tuesday after rumours based on an unverified note circulating on social media that China was planning a reopening from strict COVID curbs in March triggered a sharp rebound following last month's savage selling. The Hang Seng Index (.HSI) jumped more than 5%, while the Hang Seng Tech Index (.HSTECH) gained nearly 8%. I truly don't know anything about this," foreign ministry spokesman Zhao Lijian said when asked about such a committee. "The market has fallen so much, and has a willingness to rebound," said Yip. Reporting by the Shanghai Newsroom Editing by Tony Munroe and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Asia stocks struggle as Xi's leadership team spooks markets
▼ + stars: | 2022-10-25 | by ( Anshuman Daga | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) fell to the lowest since April 2020 before an attempted rebound in beaten-down Hong Kong tech shares dragged it back to flat. "A short-term technical rebound is the main factor for today's rise," said Kenny Ng, a strategist at China Everbright Securities in Hong Kong. "(The) cumulative decline of Hong Kong stocks is deep." CHINA FLIGHTChinese markets remained volatile and jittery following Monday's withering selloff in Hong Kong. Xi Jinping's new leadership team has raised worries that China will increasingly prioritise the state at the cost of the private sector.

☆ European markets expected to open higher; UK awaits results for a new prime minister
▼ + stars: | 2022-10-24 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

European markets are anticipating a higher open Monday, with U.K. politics expected to settle as the ruling Conservative Party picks a new prime minister following the resignation of Liz Truss last week. French President Emmanuel Macron and Italy's new Prime Minister Giorgia Meloni held informal talks Sunday in their first meeting together, while Germany is still contemplating its gas price strategy. In the U.S., stock futures were little changed Monday morning after all three major averages notched their best week since June at Friday's close. Shares in the Asia-Pacific were mixed Monday, but Hong Kong's Hang Seng index plunged about 6%, with the Hang Seng Tech index down more than 8%.

☆ China GDP: 2022 Q3 data stronger-than-expected after Xi Jinping secures third term in power
▼ + stars: | 2022-10-23 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN Business —China released stronger-than-expected GDP and other economic data on Monday, just a day after Xi Jinping clinched a historic third term in power following the conclusion of a major political gathering. But Hong Kong’s Hang Seng (HSI) Index, a key gauge of overseas investor sentiment on China, tumbled at Monday’s open and headed for its biggest losses in more than seven months. On Monday, Hong Kong’s benchmark Hang Seng Index opened down and sank 4.6% in early trading, poised for its biggest daily decline since March. The Hang Seng Tech Index, which tracks 30 largest technology firms listed in Hong Kong, plunged nearly 6%. Meanwhile, the Shanghai Composite Index, which trades on the tightly controlled domestic market in China, dropped 0.5%.

☆ Hong Kong tech leads losses in Asia; China cuts rates ahead of Fed, Bank of Japan meetings this week
▼ + stars: | 2022-09-19 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

Shares in the Asia-Pacific fell on Monday ahead of major central bank meetings this week. The Hang Seng index in Hong Kong was 0.89% lower in the final hour of trade, with the Hang Seng Tech index down 1.93%. In mainland China, the Shanghai Composite dipped 0.35% to 3,115.60 and the Shenzhen Component also declined 0.48% to 11,207.04. The People's Bank of China cut its 14-day reverse repo rates. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.59%.

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