Daily Macro Economic View
Chinese Wealth Effect
Yesterday I talked about the Chinese governments initiative to promote it’s stock market - in a similar manner to major global markets. With about 230 Chinese listed companies on the NASDAQ and NYSE, I’ll take a look at some of the more significant movers since the promotion policy was stated.
Alibaba (BABA) - China’s biggest, and on of the worlds biggest e-commerce platform and cloud company. This is a $650 Billion company that is up 24% since last week.
JD.COM (JD) - China’s biggest e-retailer, and with it’s infrastructure, the closest to China’s version of Amazon. The stock has been near verticle since May, when the Senate passed a bill to de-list Chinese companies from US exchanges. The bill does have to go through the House too, which is likely to reject it (IMO).
Chinese Life Insurance (LFC) - unlike the two tech giants above, this stock is moving off a bottom, and is up 36% since early last week.
Petro China (PTR) - another stock moving off the bottom, the fourth largest Chinese ADR by market cap is up about 12% in a week.
Tencent (TCEHY) - one of the more powerful companies from China, the stock has broken out over the last seven days.
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