Investors Try To Distill Mixed News From China's Head-Spinning Economic Data As Q4 Kick-Off Gets Underway
Portfolio Pulse from Daniel Harrison
China's economy showed signs of expansion in September, with the purchasing manufacturers index (PMI) rising to 50.2 and non-manufacturing activity climbing to 51.7. Despite this, investors remain concerned about the domestic property market. Overseas investors have sold around $5.2 billion in stocks this month, extending $12.7 billion in sales in August. However, fund managers forecast a rise of 21% for Hong Kong shares and gains of 8.4% for mainland stocks by year-end. Alibaba Group Holding Limited (NYSE:BABA), BYD Co Ltd (OTC:BYDDY), and Tencent Holdings Limited (OTC:TCEHY) are seen as potential bargains due to the sell-off and focus on tech by the Chinese government.
October 02, 2023 | 4:53 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Alibaba Group Holding Limited (NYSE:BABA) is seen as a potential bargain due to the sell-off and focus on tech by the Chinese government.
The Chinese government's focus on tech and the recent sell-off have created attractive value in Alibaba, making it a potential bargain for investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
BYD Co Ltd (OTC:BYDDY) is seen as a potential bargain due to the sell-off and focus on tech by the Chinese government.
The Chinese government's focus on tech and the recent sell-off have created attractive value in BYD, making it a potential bargain for investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tencent Holdings Limited (OTC:TCEHY) is seen as a potential bargain due to the sell-off and focus on tech by the Chinese government.
The Chinese government's focus on tech and the recent sell-off have created attractive value in Tencent, making it a potential bargain for investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80