Latest news with #KraneShares
Forbes
4 days ago
- Business
- Forbes
China Market Update: Regulatory Support For AI & Tech Raises Growth Stocks, Trump & Xi Speak
CLN KraneShares Asian equities were positive overnight, led by Hong Kong and South Korea, while Japan underperformed, as Trump and Xi are said to have held a phone call. Helping sentiment was May's Caixin Services PMI, which increased month over month to 51.1 from 50.7, beating expectations of 51.0. Hong Kong and Mainland China were led higher by growth and technology stocks following a speech from a senior official of the CSRC, China's SEC, affirming strong support for the science and technology sector in the capital markets. This follows a similar message from the Ministry of Industry and Information Technology (MIIT) supporting AI development. Alibaba gained +3.23% despite a Financial Times article, widely publicized by Bloomberg News, that Apple and Alibaba's AI iPhone partnership was being held back by the China's government, according to 'two people familiar with the matter'. This was a great sign of resiliency! Alibaba likely benefited from a rise in AI plays, including Kuaishou, which gained +5.01%, along with semi conductors, including Semiconductor Manufacturing International (SMIC), which gained +4.19%. Healthcare and biotech were hit with profit taking along with precious metals and home appliances. According to a Mainland media article, a great indicator of Hong Kong's market rebound is that $77.6 billion of capital has been raised by listings, which is 7 times the amount raised versus last year and 90% of 2024's total. Today, Tencent was Hong Kong's most heavily traded stock by value in Hong Kong, with HKD 9.3 billion in total volume, which is almost 2X the average HKD 5 billion for the highest value last year. The US appears to be going the other direction on reports that the SEC will tighten scrutiny of foreign listings. Autos, including electric vehicles (EVs) and hybrids, had a good day in both markets following strong May results, along with insurance and capital markets. Mainland China opened lower but managed to grind higher, led by technology hardware, software, and semiconductors. The Renminbi closed at 7.17 per US dollar, having rallied from 7.34 on April 9th, which was also a 52-week low. It feels like stocks are starting to play catch-up to the currency. Fingers crossed! Live Webinar Join us Friday, May 30, at 11 am EDT for: Innovation In Hedged Equity - With Hedgeye's CEO Keith McCullough Please click here to register New Content Read our latest article: Navigating Global Crosswinds: Carbon Markets Respond to Tariff Tactics and Executive Orders Please click here to read Chart1 KraneShares Chart2 KraneShares Chart3 KraneShares Chart4 KraneShares Chart5 KraneShares Chart6 KraneShares
CNBC
16-05-2025
- Business
- CNBC
Appaloosa's David Tepper trimmed China exposure ahead of trade war
Hedge fund billionaire David Tepper trimmed his exposure to Chinese internet stocks in the first quarter as a trade war between the U.S. and China heated up, while adding a big bearish bet against an exchange-traded fund that rejects fossil fuel investments. Tepper, acting through his Appaloosa Management, had gone all in on China in the wake of Beijing's pledge to boost its economy last fall. Now, he reduced his stakes in Alibaba , PDD and in the first quarter, according to a new 13F regulatory filing. The hedge fund also slashed its holding in iShares China Large-Cap ETF (FXI) and KraneShares CSI China Internet ETF (KWEB) last quarter. In September 2024, Tepper told CNBC he was buying "everything" tied to China because of Beijing's vow to provide massive fiscal support to its economy. Back then, the high-profile investor even said he was raising his usual allocation limit and not hedging his big China bet. Appaloosa's first-quarter moves out of China came before President Donald Trump slapped steep tariffs of more than 100% on China imports into the U.S. in early April, sparking a sell-off in the most prominent Chinese stocks as well as the broader U.S. market. Earlier this week, the U.S. and China agreed to suspend most tariffs on each other's goods for 90 days in a thawing of trade tensions. Also at the end of the first quarter, Tepper owned put options with a notional value of $2.5 billion against the SPDR S & P 500 Fossil Fuel Reserves Free ETF (SPYX), the filing revealed. The filing didn't include the put options' value, strike price or expiration, and Appaloosa could also have exited the position since the end of the first quarter in March. Investors profit from puts when the underlying security falls in prices. The ETF tracks 489 S & P 500 companies that are "fossil fuel free," or companies that do not own fossil fuel reserves. Its top holdings include many of the Magnificent 7 stocks — Microsoft , Nvidia , Apple , Amazon , Alphabet and Tesla — which means the put options could serve as a hedge against a drop in tech stocks. The fund is about flat on the year, but dropped 7.5% in February and March.
Forbes
29-04-2025
- Business
- Forbes
China Market Update: Robotics Ecosystem Outperforms, IPOs Are On The Rise In Hong Kong
CLN KraneShares Asian equities were mixed but mostly higher overnight as Thailand and Taiwan outperformed while Malaysia and Singapore underperformed. Markets opened lower in Hong Kong, only to swing sharply higher following positive comments from the National Development and Reform Commission (NDRC) on high-quality development and supporting consumption and employment. Unfortunately, the Hang Seng ended the session close to flat. Mainland China-based restaurant chain Green Tea Group will go public on the Hong Kong Stock Exchange after its fifth attempt in four years. The company has no business outside of China, so it does not expect any impact from trade tensions. We have seen some IPOs of China-based companies in Hong Kong and New York, after and despite 'Liberation Day' tariffs. This shows how consumer-oriented China's economy has become, enabling these firms to weather the tariff storm. Meanwhile, the Hong Kong Stock Exchange is amending its rules to make it easier for firms to list there, especially US listed firms that are seeking a secondary listing on the exchange. Internet earnings reports for Q1 are due to start in mid-May. However, TAL Education already reported, as it tends to be early in the cycle, and missed estimates on revenue, net income, and earnings per share. The private tutoring and educational technology company has idiosyncratic risks, so we do not think its results are indicative of the internet sector overall. Health care was a top-performing sector in both Mainland China and Hong Kong overnight. The industry continues to rally, with significant improvements in regulatory posture and government support. Humanoid robot plays outperformed in Hong Kong. Jiangsu Guomao Reducer Inc., which makes small motors used for robots, gained +3.37% in Mainland China. The humanoid robotics theme has become a hot topic in China's markets after robots were displayed dancing during the CCTV Gala, a massive TV event celebrating Lunar New Year, and ran in the Beijing Half Marathon. Mainland investors were net sellers of Hong Kong-listed stocks and ETFs via Southbound Stock Connect, which may have led to the market's decline in the second half of the session. New Content Read our latest article: New Drivers For China Healthcare: AI Med-Tech Innovation, Cancer Treatment, & Favorable Balance of Trade Please click here to read Chart1 KraneShares Chart2 KraneShares Chart3 KraneShares Chart4 KraneShares Chart5 KraneShares Chart6 KraneShares
NBC News
26-04-2025
- Business
- NBC News
Trump administration live updates: Trump arrives in Rome for pope's funeral; George Santos sentenced to 87 months in prison
The U.S. may move to reduce tariffs on China to stimulate talks, according to the U.S. envoy to China during Trump's first administration, Terry Branstad. "There'll be some movement that'll reduce the burden and an indication that we want to deal," Branstad said during a forum hosted by the New York-based asset management firm KraneShares on Wednesday. But Beijing will need to reciprocate in a way "that shows that they have an interest in it," he added. Branstad pointed to "tremendous resurgence in comeback" of the markets, which had tanked following Trump's announcement. "That's because of the signal that Trump has made that these initial tariffs on China are not the end of the day, and they're to get their attention and eventually to try to get a better deal,' he added. "I don't know that there will be a deal, but I know that Trump like to see one at the end of the day."
South China Morning Post
25-04-2025
- Business
- South China Morning Post
Donald Trump's former envoy to China says US tariff cuts could come soon
The US may move to lower tariffs on Chinese goods in an attempt to revive trade talks, but Beijing will need to reciprocate if there is to be a deal, according to President Donald Trump's former envoy to China. Advertisement Terry Branstad , who was ambassador during Trump's first term, predicted there would be 'some movement that will reduce the burden and [give] an indication that we want a deal'. 'And then we need a reciprocal response from the Chinese that shows they have an interest in it,' he said, during a discussion with the New York-based asset management firm KraneShares on Wednesday. 'And we'll see. I don't know that there will be a deal, but I know that Trump would like to see one at the end of the day … I think Trump wants it to happen quicker and not take years. So we'll see what happens, but I suspect we'll see movement within the next year.' The Wall Street Journal reported on Wednesday that the White House was considering slashing tariffs by more than half on non-strategic Chinese goods, in a week that has also seen an easing in Trump's tone on China. Advertisement While most countries, including many US allies, saw a 90-day pause in Trump's so-called reciprocal tariffs introduced on April 2, the 145 per cent duties imposed on China were kept in place, bringing the effective rate to about 156 per cent. According to a White House fact sheet, China now faces tariffs of up to 245 per cent, a figure that includes tariffs ranging from 7.5 per cent to 100 per cent that predate the second Trump administration.
