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史上最强单月表现!中概股指数11月涨超40%

The strongest monthly performance in history! China Securities Index rose more than 40% in November

華爾街見聞 ·  Dec 1, 2022 07:57

The Nasdaq Golden Dragon China Index closed up 9.6%, the constituent stock XPeng Inc. rose nearly 50%, station B rose more than 12%, BABA rose nearly 10%, and Baidu, Inc. rose 9%. Other electric vehicle stocks also soared, with NIO Inc. up more than 20% and Li Auto Inc. nearly 19%.

On the closing day in November, hot Chinese stocks continued to rise strongly, beating the market for the third day in a row.

The Nasdaq Golden Dragon China Index (HXC), which tracks US-listed Chinese stocks, opened high on Wednesday, Nov. 30, with US stocks up more than 8 per cent in early trading. After Powell's speech in midday, the intraday gains widened to more than 10 per cent and finally closed up 9.6 per cent, up more than 42 per cent in November, the biggest one-month gain in history.

Commentators believe that the strong quarterly results of some large technology companies, the optimization and adjustment of China's epidemic prevention policy, and the favorable landing of domestic real estate all contributed to the rise of Chinese stocks in November.

Among HXC's constituent stocks, as of Wednesday's close, XPeng Inc. led the way, Bilibili Inc. more than 12%, BABA nearly 10%, Trip.com more than 9% and Baidu, Inc. about 9%. Other electric vehicle stocks also soared, with NIO Inc. Motor up nearly 22% and Li Auto Inc. up nearly 19%. Among the Nasdaq 100 constituent stocks, JD.com rose more than 7%, Pinduoduo rose more than 4%, and NetEase, Inc rose more than 3%.

Before US stocks opened on Wednesday, XPeng Inc. reported lower-than-expected third-quarter revenue and a higher-than-expected net loss compared with the same period a year earlier, but higher-than-expected gross profit margins for the quarter and hinted that a drop in delivery could bottom out.

On the performance call, XPeng Inc. said that he believes that the sales contribution of the G9 will lead the company's car sales out of the October trough, and is confident that the G9 will become the top three in the pure electric SUV market of more than 300000 yuan, and next year, with the accumulation of word-of-mouth, the gap between the G9 and the first place will be further narrowed.

Tim Hsiao, an analyst at Morgan Stanley, believes that XPeng Inc. gives people a clearer understanding of the launch of more competitive models next year, which will restore market confidence.

In addition, in Asia on Wednesday, there were market rumors that the domestic subsidy for new energy vehicles scheduled to end at the end of this year would be extended by 50% next year, and the tax reduction policy for the purchase of fuel vehicles would be fully continued. A-share auto plate set off a rising tide on the same day. However, the relevant policies did not fall within days. According to the Shanghai Stock Exchange News, some institutions have made it clear that the policy rumors are uncertain. There are also brokerage analysts believe that policy rumors to stimulate the automotive sector can only bring a short-term market.

Edit / phoebe

The translation is provided by third-party software.


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