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【 Introduction 】 Fangduoduo once surged by over 70%! Chinese concept stocks outperform US stocks
Guo Wenjun, reporter from China Fund News
The Dow Jones Industrial Average has reached a new historical closing high. Fangduoduo once surged by over 70%! US listed Chinese real estate stocks all rose. Chinese concept stocks outperform US stocks.
Dow Jones Industrial Average hits new historic closing high

On October 16th Eastern Time, all three major stock indexes in the United States closed higher. As of the close, the Dow Jones Industrial Average rose 0.79% to 43077.7 points, setting a new historical closing high; The S&P 500 index rose 0.47% to 5842.47 points; The Nasdaq rose 0.28% to 18367.08 points.
Bank stocks collectively rose, with Morgan Stanley up 6.49%, Citigroup up 2.57%, and Goldman Sachs, Bank of America, and Wells Fargo up over 1%.
Morgan Stanley's net revenue for the third quarter was $15.383 billion, compared to $13.273 billion in the same period last year; Net profit was 3.188 billion US dollars, compared to 2.408 billion US dollars in the same period last year; Diluted earnings per share were $1.88, compared to $1.38 in the same period last year.
Airline stocks rose across the board, with United Airlines up 12.44%, American Airlines up 7.15%, Delta Air Lines up 6.78%, and Boeing and Southwest Airlines up over 1%.
Fangduoduo surged by over 70% at one point

US listed Chinese concept real estate stocks all rise

On October 16th Eastern Time, driven by recent favorable policies and market expectations for the upcoming press conference by the State Council Information Office to introduce relevant information on promoting stable and healthy development of the real estate market, US listed real estate stocks generally rose.
Fangduoduo rose sharply, with the largest increase reaching 70.65%, closing at $1.43 for the day, up 55.43%, and a turnover rate of 304.89%.
Except for Fangduoduo, a group of US listed Chinese concept real estate stocks all rose. XCHANGE TEC rose 22.79%, Xinyuan Real Estate rose 6.85%, and Beike rose 4.58%.
CMB Research published a research report stating that the goal of "stopping the decline and stabilizing the real estate market" at the September Central Politburo meeting was clearly positive, and therefore various policy spaces were gradually opened up accordingly. The past two weeks have been a period of intensive introduction of real estate policies. On October 12th, the Ministry of Finance launched a package of incremental policies targeting the real estate market at a press conference. The incremental policies include allowing special bonds to be used for land acquisition and stock commodity housing, optimizing tax support, etc. From the recent online signing data (September 30th to October 13th), it can be seen that the average weekly online signing area for new houses has improved significantly compared to the average level of the year; The average weekly online signing area of second-hand houses has recovered after weakening from August to mid to early September, and has basically returned to a relatively high level around 517. New houses in Guangzhou and second-hand houses in Shenzhen have seen significant improvements in first tier cities. In addition, considering that it takes about two weeks for residential subscriptions to be signed online, the subscription data during the National Day holiday is expected to gradually reflect in the online signing data in mid to late this month, and we will closely monitor the improvement and sustainability of sales in the future.
The Information Office of the State Council will hold a press conference at 10:00 a.m. on October 17, when Ni Hong, Minister of the Ministry of Housing and Urban Rural Development, and heads of the Ministry of Finance, the Ministry of Natural Resources, the People's Bank of China, and the State Administration of Financial Supervision and Administration will jointly introduce the relevant information on promoting the steady and healthy development of the real estate market.
The market is generally optimistic about this real estate press conference, believing that it will bring positive policy signals and new development opportunities to the real estate market.
Chinese concept stocks outperform US stocks

On October 16th Eastern Time, most popular Chinese concept stocks rose. The Nasdaq China Golden Dragon Index surged 2.18% at one point and rose 0.93% throughout the day, outperforming the three major stock indexes in the United States.
Century Internet rose 9.88%, Dingdong Maicai rose 6.55%, Qudian rose 6.21%, leading the Nasdaq China Golden Dragon Index constituent stocks. Zhongtong Express, iQiyi, and Ctrip Group rose by over 2%; In terms of decline, Zhongjin Medical fell 11.20%, Youjia Insurance fell 9.12%, and Youdao fell 6.91%, leading the decline in the constituent stocks of the Nasdaq China Golden Dragon Index. Miniso and JinkoSolar fell more than 2%, while NIO and Tencent Music fell more than 1%.
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