Streetbeat News

MPNGY

Meituan

Open

45.41

Mkt cap

141B

Volume

103K

High

46.66

P/E Ratio

48.52

52-wk high

56.75

Low

45.41

Div yield

N/A

52-wk low

22.46

Chinese stocks have surged, driven by economic recovery signs and a rally in the SSE Composite Index, despite concerns over premature investor optimism and downward earnings revisions. ETFs like KWEB, MCHI, FXI, GXC, CNYA, PGJ, and FLCH offer exposure to China's market, each with unique strategies and year-to-date returns.

Portfolio Pulse from Piero Cingari

May 08, 2024 | 4:04 pm

Henry Greene, Investment Strategist at KraneShares, highlights the investment opportunities in China's market, focusing on the internet and technology sectors due to low internet penetration and government support for domestic tech companies. He remains optimistic about China as an asset class despite geopolitical tensions, noting the KraneShares CSI China Internet ETF (KWEB) and its top holdings. KraneShares has also launched two ETFs, KPRO and KBUF, offering downside protection on KWEB. Greene believes China's stock market has bottomed, presenting a rare buying opportunity, especially in internet stocks and AI applications.

Portfolio Pulse from Surbhi Jain

April 04, 2024 | 5:20 pm

Alibaba Group Holding Limited (NYSE:BABA) led a rebound in Hong Kong stocks, ending a two-day decline as optimism grew from the Federal Reserve's openness to policy easing and a private survey showing China's manufacturing industry's expansion. Other tech and e-commerce companies like JD.com Inc (NASDAQ:JD), Meituan (OTC:MPNGF, OTC:MPNGY), NetEase Inc (NASDAQ:NTES), and Tencent Holding Ltd (OTC:TCEHY) also saw gains. Alibaba is exploring the sale of its InTime department store branch, indicating a strategic pivot and refocusing on core e-commerce and cloud computing sectors. Alibaba's stock increased by 1.40% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 01, 2024 | 1:13 pm

Alibaba Group Holding Limited (BABA) stock is trading lower, in line with broader indexes like iShares China Large-Cap ETF (FXI) and KraneShares CSI China Internet ETF (KWEB), due to a plunge in Hong Kong stocks to a 15-month low. Investor confidence is shaken by China's economic recovery pace and unchanged key lending rates. Chinese tech companies, the real estate sector, EV sector, and financial firms saw stock value declines. Alibaba co-founder Jack Ma expressed support for rural teachers in China. Alibaba lost its position as China's most valuable company to PDD Holdings Inc (PDD) last year, with Alibaba's stock down 42% and PDD's up 51%.

Portfolio Pulse from Anusuya Lahiri

January 22, 2024 | 1:17 pm

Moody's Investors Service downgraded its outlook on China's government credit ratings from stable to negative, citing concerns over fiscal stability and economic growth. This has led to a significant sell-off in Chinese stocks, with the iShares China Large-Cap ETF (FXI) dropping over 10% in the last 10 sessions. Major Chinese companies listed in the US, including Alibaba (BABA), Tencent (OTCPK: MPNGY), and Meituan, saw negative trading, with Yum China (YUMC) and NIO Inc. (NIO) experiencing the most notable moves.

Portfolio Pulse from Piero Cingari

December 05, 2023 | 6:07 pm

Alibaba Group Holding Limited (NYSE:BABA) is undergoing business restructuring, including closing its quantum computing research lab and donating the equipment to Zhejiang University. The move affects about 30 staff members and marks a shift from advanced technology research to cost-cutting. Alibaba co-founder Jack Ma has started a new venture, 'Hangzhou Ma's Kitchen Food,' focusing on pre-packaged food. Alibaba's workplace app, DingTalk, is being updated to support Huawei's HarmonyOS, with a partnership that aligns with other Chinese tech giants like JD.com Inc (NASDAQ:JD) and Meituan (OTC:MPNGF) (OTC:MPNGY) developing apps for HarmonyOS. BABA shares traded slightly lower in premarket.

Portfolio Pulse from Anusuya Lahiri

November 27, 2023 | 10:35 am

Hong Kong stocks rallied on Friday, driven by strong consumer turnout and hopes of government stimulus. Alibaba Group Holding (NYSE:BABA) and JD.com Inc (NASDAQ:JD) saw their stocks rise due to successful Single’s Day presales promotions. Tencent Holdings Limited (OTC:TCEHY) also got a boost from its investment in J&T Global Express Limited's IPO. EV stocks, including Nio Inc (NYSE:NIO), XPeng Inc (NYSE:XPEV), and Li Auto Inc (NASDAQ:LI), rose after Tesla Inc (NASDAQ:TSLA) scrapped a discount on its Model Y EV. Financials China Construction Bank (OTC:CICHY), AIA Group (OTC:AAGIY), and Ping An Insurance Group (OTC:PNGAY) also rose despite heavy short-selling.

Portfolio Pulse from Daniel Harrison

October 27, 2023 | 1:41 pm

Alibaba Group Holding Limited (NASDAQ:BABA) stock is trading higher as China ends its regulatory overhaul and voices its desire to boost Big Tech. The National Development and Reform Commission (NDRC) praised projects by ten leading internet giants, including Alibaba, Tencent Holding Ltd (OTC:TCEHY), and Meituan (OTC:MPNGF) (OTC:MPNGY), signaling efforts to restore national economic growth. Alibaba's grocery subsidiary Freshippo revealed its largest wholly-automatic supply chain center in Shanghai and is preparing for an IPO in Hong Kong by 2024.

Portfolio Pulse from Anusuya Lahiri

July 12, 2023 | 11:51 am

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