China Market Update: China Technology's Outperformance Vs. US Tech Since February Widens [Forbes]
Li Auto Inc. - American Depositary Shares (LI)
Company Research
Source: Forbes
Hong Kong had a strong day after the China Securities Regulatory Commission (CSRC), China's SEC, announced policies aimed at bolstering Hong Kong's status as a financial hub. The measures seek to broaden Stock Connect rules related to ETFs and REITs that trade in RMB and facilitate more IPOs from “leading enterprises”. Hong Kong's market was led by higher internet stocks. The most heavily traded stocks by value were Tencent, which gained +5.46% as the company announced May 21st as the release date of the widely anticipated game Dungeon & Fighter , Meituan, which gained +5.56% on another $4 million stock buyback, Alibaba, which gained +2.62%, Li Auto, which fell -8.33% on more price cuts for electric vehicles and light initial demand for a new model, and the Bank of China, which gained +1.19%. It is also worth noting that Tencent bought back another 3.2 million shares today. Other internet stocks rose as well, including Kuaishou Technology, which gained +1.92%, NetEase, which gained
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LI
Sec Filings
- 5/1/24 - Form 6-K
- 4/30/24 - Form SC
- 4/23/24 - Form 6-K
- LI's page on the SEC website