GMT EIGHT - Market

US Stock Market Move | Lexinfintech Holdings Ltd. Sponsored ADR Class A (LX.US) rose by 15.41%, with digital finance driving high-quality business development.

On Wednesday (March 6) Eastern Time, the U.S. stock market closed with Chinese concept stocks generally rising, the upcoming release of 2024 full-year results, and policy encouragement driving the market. Lexinfintech Holdings Ltd. Sponsored ADR Class A (LX.US), a leading Chinese new consumer digital technology service provider, rose by 15.41%, closing at $9.81, with a total daily trading volume of $48.1241 million. Since the beginning of the year, the stock price of Lexinfintech Holdings Ltd. Sponsored ADR Class A has performed strongly, repeatedly breaking historical records. The closing price of $9.81 is the highest in three and a half years, and the 15.41% increase is the second largest since the beginning of 2025, only behind the 15.96% increase on January 24, ranking 11th among the 317 Chinese concept stocks. However, the trading volume ranks second among the top 11. On the market front, benefiting from the rise of large technology stocks, all three major U.S. stock indexes rose more than 1%, ending the "two-day decline". At the close, the Dow rose by 1.14%, the Nasdaq rose by 1.46%, and the S&P rose by 1.12%. Chinese concept stocks performed strongly, with the Nasdaq Golden Dragon Index rising by 6.4%. Among popular Chinese concept stocks, VNET Group, Inc. Sponsored ADR rose by over 16%, Full Truck Alliance Co. Ltd. Sponsored ADR rose by over 13%, EHang Holdings Ltd. Sponsored ADR Class A rose by over 12%, Xpeng rose by over 10%, KE Holdings, Inc. Sponsored ADR Class A rose by over 9 %, Alibaba Group Holding Limited Sponsored ADR rose by over 8%, Trip.com Group Ltd. Sponsored ADR rose by over 7%, KINGSOFT CLOUD rose by over 7%, and JD.com, Inc. Sponsored ADR Class A rose by over 6%. The rise in the stock price of Lexinfintech Holdings Ltd. Sponsored ADR Class A is mainly influenced by factors such as the global revaluation of Chinese assets, the upcoming release of the 2024 full-year financial report, and the clear presentation of the new SLOGAN for brand positioning. In the global stock market, Chinese assets have undoubtedly become a hot spot for fund inflow. It is widely believed that global funds are increasingly betting on Chinese assets, with Chinese concept stocks and Hong Kong stocks especially attracting global capital inflows. At the same time, policies encouraging the development of consumer finance and addressing key issues have been continuously released recently, especially emphasizing the improvement of a multi-level, widely covered sustainable inclusive financial system and promoting the high-quality development of digital finance. As a representative of digital finance, Lexinfintech Holdings Ltd. Sponsored ADR Class A is undoubtedly one of the leaders and beneficiaries. Recently, many Chinese concept stocks have started to disclose their 2024 Q4 and full-year performance, with many exceeding market expectations, such as Full Truck Alliance Co. Ltd. Sponsored ADR with a net profit growth of 43.5%. Regarding Lexinfintech Holdings Ltd. Sponsored ADR Class A, its 2024 financial report is expected to be released at the end of March. As of the end of the first three quarters, the net profit of Lexinfintech Holdings Ltd. Sponsored ADR Class A has reached 1 billion RMB; the market expects that with the fourth quarter profit included, the profit of Lexinfintech Holdings Ltd. Sponsored ADR Class A may reach a three-year high. Given the continuous growth of profits, Lexinfintech Holdings Ltd. Sponsored ADR Class A has announced an increase in dividend payouts. With approval from the board of directors, starting from 2025, the dividend ratio of Lexinfintech Holdings Ltd. Sponsored ADR Class A will increase from the current 20% of net profits to 25%. Lexinfintech Holdings Ltd. Sponsored ADR Class A has made significant breakthroughs in its overseas business. In the third quarter, apart from the Mexican market, Lexinfintech Holdings Ltd. Sponsored ADR Class A has increased its investments and operations in the Southeast Asian market. Within the quarter, the Indonesian market experienced rapid growth, with a 31% increase in trading users and an 18% increase in trading volume compared to the previous quarter. At the company level, Lexinfintech Holdings Ltd. Sponsored ADR Class A has redefined the positioning of its "Fenqile" brand and introduced the slogan "For easy consumption and flexible turnover, choose Fenqile". With recent technological innovations and user insights, Lexinfintech Holdings Ltd. Sponsored ADR Class A has introduced five core functions, upgrading the installment consumption experience and boosting platform user engagement by 62% year-on-year. In the past two months, many renowned brokerages such as UBS Group AG, Industrial Bank, Citigroup, CLSA, and Huatai have successively released research reports covering Lexinfintech Holdings Ltd. Sponsored ADR Class A.A, multiple companies have raised their target prices.UBS Group AG believes in its research report that from 2024Q3 onwards, Lexinfintech Holdings Ltd. Sponsored ADR Class A will see huge benefits: potential improvement in asset quality; decrease in financing costs; better loan pricing. Based on these reasons, UBS Group AG has raised the earnings (non-GAAP) forecast for Lexinfintech Holdings Ltd. Sponsored ADR Class A for the years 2025-2026 by 56% and 103%, to 21 billion and 31 billion respectively; and rated Lexinfintech Holdings Ltd. Sponsored ADR Class A as a "buy", with a target price of $9.6 for the coming year - this target price has already been surpassed as of March 6th. It is reported that Lexinfintech Holdings Ltd. Sponsored ADR Class A was established in August 2013 and is based in Shenzhen, China. It has actively connected online and offline consumption scenarios through its platforms, connecting millions of young Chinese consumers with new consumer brands. In December 2017, Lexinfintech Holdings Ltd. Sponsored ADR Class A officially listed on the Nasdaq in the United States.

45 min ago

Overnight US stocks | The three major indexes rose by more than 1%. The China Golden Dragon Index rose by 6.4%. The US dollar index dropped by more than 1%.

On Wednesday, all three major indices closed up by over 1%, with Chinese concept stocks collectively rising. President Trump of the United States announced a one-month tariff exemption for cars imported through the USMCA agreement. [US Stocks] At the close, the Dow rose 485.60 points, up 1.14%, to 43006.59 points; the Nasdaq rose 267.57 points, up 1.46%, to 18552.73 points; the S&P 500 rose 64.48 points, up 1.12%, to 5842.63 points. Chinese concept stocks surged, with the China Golden Dragon Index up 6.4%, the China Overseas Internet ETF (KWEB.US) up 7.13%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) up 8.61%, PDD Holdings Inc. Sponsored ADR Class A (PDD.US) up 6%, and Bilibili, Inc. Sponsored ADR Class Z (BILI.US) up 5.59%. [European Stocks] The German DAX30 index rose 746.09 points, up 3.34%, to 23075.00 points; the UK FTSE 100 index fell 4.67 points, down 0.05%, to 8754.33 points; the French CAC40 index rose 125.83 points, up 1.56%, to 8173.75 points; the European Stoxx 50 index rose 93.00 points, up 1.72%, to 5490.05 points; the Spanish IBEX35 index rose 186.50 points, up 1.43%, to 13212.00 points; the Italian FTSE MIB index rose 767.84 points, up 2.03%, to 38504.00 points. [Asia-Pacific Stocks] The Nikkei 225 index rose by 0.23%, the KOSPI index in South Korea rose by 1.16%, and the Indonesian Composite index rose by 2.37%. [Foreign Exchange] The US Dollar Index against six major currencies fell by 1.36% to close at 104.301 in the forex market. At the New York market close, 1 euro exchanged for 1.0790 US dollars, higher than the previous trading day's 1.0597 US dollars; 1 pound exchanged for 1.2897 US dollars, higher than the previous trading day's 1.2787 US dollars. 1 US dollar exchanged for 148.79 Japanese yen, lower than the previous trading day's 149.27 Japanese yen; 1 US dollar exchanged for 0.8904 Swiss francs, higher than the previous trading day's 0.8888 Swiss francs; 1 US dollar exchanged for 1.4336 Canadian dollars, lower than the previous trading day's 1.4503 Canadian dollars; 1 US dollar exchanged for 10.1990 Swedish kronor, lower than the previous trading day's 10.4760 Swedish kronor. [Cryptocurrency] Bitcoin rose by over 3.5%, surpassing $90,000. President Trump of the United States will host the first White House cryptocurrency summit on March 7, where industry leaders will gather to discuss regulatory policies, stablecoin regulation, and the potential role of Bitcoin in the American Financial Group, Inc. system. [Gold] At the New York market close, spot gold rose slightly by 0.04% to $2919.19 per ounce, with a V-shaped trend after the release of the US ADP employment figures. COMEX gold futures rose by 0.29% to $2929.00 per ounce, with a trading range of $2903.40-2941.30 per ounce during the day. [Crude Oil] President Trump's trade war has cast a shadow on the outlook for oil demand, with international oil prices plunging to their lowest level in over three years as OPEC+ signals an increase in supply. Brent crude futures fell below $69 per barrel, reaching their lowest point since December 2021. US crude futures approached $65 per barrel, hitting their lowest point since May 2023. Trump's trade measures may reduce demand and alter the flow of oil. At the same time, OPEC+ countries are increasing production as planned, and last week's increase in US domestic inventories has exacerbated expectations of oversupply. Growing pessimism has led many companies to lower their price forecasts. Rebecca Babin, senior energy trader at CIBC, said, "The market is repricing the downside risk for crude oil, with the $65 floor for US crude shifting to close to $60. The focus has shifted entirely from supply risk to demand concerns, which may indicate that we are approaching a bottom." [Macro News] US service sector economic activity expanded for the eighth consecutive month in February. The Institute for Supply Management (ISM) stated that the US service sector economic activity expanded for the eighth consecutive month in February. The services PMI recorded 53.5%, marking the 54th expansion in 57 months since the economic recession caused by the pandemic began to recover in June 2020. Steve Miller, Chairman of the Services Business Survey Committee, said, "In February, 14 industries reported growth, the same as last month. The February PMI was 53.5%, higher than January's 52.8% and the average PMI of 52.5 over the past 12 months." "February is the third consecutive month where all four sub-components directly affecting the services PMI - business activity, new orders, employment, and supplier deliveries - are in the expansion zone, the first time since May 2022. The slight increase in the business activity index was offset by the growth in the other three sub-component indices. However, anxiety continues due to the potential impact of tariffs. Some respondents noted that federal spending cuts are negatively affecting their business forecasts." The United States will grant a one-month tariff exemption for any cars imported through the USMCA agreement. On March 5 local time, White House Press Secretary Lavett announced that the United States will grant a one-month tariff exemption for any cars imported through the USMCA agreement. On March 3 local time, President Trump of the United States stated that the 25% tariffs on Mexican and Canadian goods would be imposed on March 4.Take effect. Trump reiterated on the joint session of Congress on the 4th that equivalent tariffs will be imposed starting on April 2nd.Fed Beige Book: Economic activity slightly increased with moderate price increases. The Fed Beige Book shows that since mid-January, economic activity has "slightly" increased, but consumer spending has decreased. The report states, "Overall consumer spending has declined, with reports suggesting strong demand for necessities but increased price sensitivity for discretionary items, particularly among lower-income shoppers." Meanwhile, prices have "moderately increased," with some regions experiencing faster price increases than before. The Fed noted that "abnormal weather conditions" in some regions weakened demand for leisure and hospitality industries. Elon Musk: U.S. Postal Service and Amtrak should be privatized as both are significantly losing money. According to foreign media reports, Musk is advising President Trump on a plan to greatly reduce the size of the U.S. government. On Wednesday, he stated that the U.S. Postal Service and Amtrak should be privatized. Musk said, "Logically, I think we should privatize anything that can be privatized within reason." He mentioned that these actions would require approval from Congress. Amtrak, established in 1970, and the U.S. Postal Service, government-owned entities, have not immediately commented on this proposal. The U.S. Postal Service has reported losses exceeding $100 billion since 2007, with a $9.5 billion loss in the 12 months ending September 30. Amtrak reported an adjusted operating loss of $705 million in the 12 months ending September 30. [Stock News] Alphabet Inc. Class C (GOOG.US, GOOGL.US) tests new AI search mode for complex queries. Alphabet Inc. Class C will begin testing a new AI search mode that allows users to ask multi-part questions. Robby Stein, VP of Search Products at Alphabet Inc. Class C, said the new feature named "AI Mode" can run multiple related searches in the background, predict which subtopics users may be interested in next, and provide a comprehensive answer summarizing multiple questions. The feature will run in a separate tab and is suitable for handling more complex queries. Early tests show that queries in AI Mode take twice as long as regular searches. Stein stated that this feature allows users to access information on the web and across all of Alphabet Inc. Class C's new information systems. AI Mode can process text, images, and videos, and runs on Alphabet Inc. Class C's latest flagship AI model, Gemini 2.0. AI Mode will first be available to users who purchase Alphabet Inc. Class C's AI subscription package. Apple Inc. (AAPL.US) introduces new MacStudio with up to 512GB of memory. Apple Inc. has launched its new MacStudio, with a maximum configuration upgrade to 512GB of unified memory, AppleM3Ultra (32+80+32 core) processor, and a 16TB solid-state drive. The increased unified memory of over 256GB helps users run large AI tasks on the device. This new product will be available for purchase on March 12.

5 h ago

US Stock Market Move | Chinese concept stocks continue to rise, with the Nasdaq China Golden Dragon Index gaining over 5%.

On Wednesday, Chinese concept stocks continued to rise, with the Nasdaq Golden Dragon Index up over 5%. XPeng, Inc. ADR Sponsored Class A (XPEV.US) and Alibaba Group Holding Limited Sponsored ADR (BABA.US) both rose nearly 7%, while PDD Holdings Inc. Sponsored ADR Class A (PDD.US) rose over 6% and JD.com, Inc. Sponsored ADR Class A (JD.US) rose over 5%.

11 h ago

US Stock Market Move | EHang Holdings Ltd. Sponsored ADR Class A (EH.US) rose more than 7%. The company partners with the University of Zaragoza and the University of Guangzhou to jointly build a Low-Altitude Flight Safety Joint Laboratory.

On Wednesday, EHang Holdings Ltd. Sponsored ADR Class A (EH.US) rose over 7% to $22.63. In terms of news, EHang Holdings Ltd. Sponsored ADR Class A announced the signing of a cooperation memorandum with the University of Zaragoza in Spain and Guangzhou University in China. The three parties will collaborate to establish a joint low-altitude flight safety laboratory, promoting innovative research in the field of low-altitude economy and intelligent aerial traffic management, aiming to provide solid support for the development of urban air traffic worldwide.

05/03/2025

US Stock Market Move | KINGSOFT CLOUD (KC.US) rose by 11%, Lyon expects the company GenAI's revenue to increase by 60% this year.

On Wednesday, KINGSOFT CLOUD (KC.US) rose by 11% to $17.79. Lyon expects KINGSOFT CLOUD's GenAI revenue to grow by 60% to about 2 billion yuan this year, with incremental revenue mainly from Xiaomi's training demand in autonomous driving, about 400 to 500 million yuan, and expanding demand from AILLM startups, about 100 to 200 million yuan. Lyon pointed out that some investors are concerned that there may be a price war in the mainland cloud market this year, and whether ByteDance's VolcanoEngine will be a trigger for the price war. The bank predicts that there will not be an extreme price war in the mainland cloud market in the short term, as all mainland network cloud manufacturers have experienced two years of losses or reduced low-profit businesses.

05/03/2025

US Stock Market Move | China Yuchai International Limited (CYD.US) rose nearly 10% as engine sales in the second half of 2024 showed a significant growth of 10.9%.

On Wednesday, China Yuchai International Limited (CYD.US) rose nearly 10% to $21.82. Financial data shows that in 2024, China Yuchai International Limited's total revenue was 19.134 billion RMB, a year-on-year increase of 6.02%; net profit attributable to shareholders was 323 million RMB, a year-on-year increase of 13%. In the second half of 2024, the company's total engine sales reached 163,843 units, a 10.9% increase compared to 147,700 units in the second half of 2023. This growth was mainly attributed to increased sales in the truck, bus, industrial and marine, and power generation markets. Guotai Junan Securities stated that benefiting from the continued high prosperity of domestic AIDC and data center construction, there is a high demand for high-end diesel generators. Data center power distribution systems have strict requirements, and high-grade data centers require strong backup power sources, with diesel generators being the mainstream backup power configuration with high performance requirements.

05/03/2025

US Stock Market Move | The China Golden Dragon Index rose by over 4%. Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose by nearly 5%.

On Wednesday, Chinese concept stocks rose, as of the time of publication, the NASDAQ Golden Dragon Index rose by more than 4%, the China Overseas Internet ETF (KWEB.US) rose by more than 4.4%, Full Truck Alliance Co. Ltd. Sponsored ADR (YMM.US) surged nearly 12%, KINGSOFT CLOUD (KC.US) rose by nearly 9%, Niu Technologies Sponsored ADR Class A (NIU.US) rose by more than 6%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose by nearly 5%, JD.com, Inc. Sponsored ADR Class A (JD.US) rose by more than 4%, and Bilibili, Inc. Sponsored ADR Class Z (BILI.US) rose by more than 1.7%.

05/03/2025

US Stock Market Move | Crude oil prices have fallen for the fourth consecutive day. Occidental Petroleum Corporation (OXY.US) dropped by over 2.5%.

On Wednesday, the price of crude oil fell for the fourth consecutive day, with the S&P 500 Energy Index dropping 2% to its lowest point in over two months. As of the time of writing, Chevron Corporation (CVX.US) fell over 1.3%, SLB (SLB.US) fell over 1%, Occidental Petroleum Corporation (OXY.US) fell over 2.5%, BP p.l.c. Sponsored ADR (BP.US) edged lower, and Exxon Mobil Corporation (XOM.US) fell over 1.9%.

05/03/2025

US Stock Market Move | Car stocks rise, Stellantis NV (STLA.US) up more than 7%

On Wednesday, U.S. automotive stocks rose. As of the time of writing, Stellantis NV (STLA.US) surged over 7%, General Motors Company (GM.US) rose over 4%, Ford Motor Company (F.US) rose nearly 3%, and Tesla, Inc. (TSLA.US) rose 0.5%. In terms of news, Trump said he had talks with the three major U.S. automakers on Tuesday, preparing to give tax incentives for car loan interest payments, but the condition is that the cars must be manufactured in the U.S.

05/03/2025

US Stock Market Move | XPeng, Inc. ADR Sponsored Class A(XPEV.US) rose by 6%, winning the top spot in new energy vehicle deliveries for the second consecutive month.

On Wednesday, XPeng, Inc. ADR Sponsored Class A (XPEV.US) rose by 6% to $21.45. In terms of news, XPeng, Inc. ADR Sponsored Class A delivered 30,453 vehicles in February, a significant increase of 570% year-on-year. With delivery volumes of 30,400 and 30,500 vehicles in January and February respectively, XPeng has taken the top spot in delivery volume for new energy vehicles for two consecutive months. The company has delivered a total of 60,803 new vehicles this year, a 375% increase compared to the same period last year. It is reported that the XPeng MONA M03 has delivered over 15,000 units for three consecutive months, and the XPeng P7+ has delivered over 30,000 units in three months since its launch, breaking the record for the fastest delivery in the same segment. In addition, He Xiaopeng recently expressed confidence at the XPeng X9 overseas delivery ceremony, stating that XPeng is confident in becoming one of the first companies in China to mass produce L3Siasun Robot&Automation.

05/03/2025

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