Chinese concept stocks in the US stock market experience a sharp rise
On Tuesday Eastern Time, all three major US stock indices closed higher, while Chinese concept stocks experienced a collective surge. As of the close, the Nasdaq China Golden Dragon Index rose nearly 6%, and the Wanda China Concept 100 Index rose 5.44%.
The new energy vehicle sector surged, with NIO, Xiaopeng Motors, and Ideal Motors all rising by over 10%. Online gaming, live streaming, and other sectors collectively surged, with iQiyi and Bilibili up over 12%, Weibo up over 8%, and Huya Live and Douyu following suit. E-commerce stocks also recorded significant gains, with JD.com rising 7.68% and Alibaba, Pinduoduo, and Baidu all rising more than 3%.
On the news side, from February 5th to 6th, the third meeting of the China US Economic Working Group was held in Beijing, and Minister of Finance Lan Foan attended the meeting and had a brief exchange with the US side.
This meeting was co chaired by Vice Secretary of the Treasury Liao Min and Vice Secretary of the US Treasury Shang Bo, with relevant departments in the economic fields of the two countries participating. Both China and the United States conducted in-depth, candid, pragmatic, and constructive exchanges on topics such as the macroeconomic situation and policies of the two countries, G20 financial cooperation, developing country debt, and industrial policies, in accordance with the three important consensus reached at the San Francisco meeting as the leaders of both sides. The Chinese side has expressed concerns about the US imposing tariffs on China, bilateral investment restrictions, and sanctions against Chinese companies. Both parties agree to continue communication.
On the morning of February 6th, Central Huijin Corporation announced that it fully recognizes the current allocation value of the A-share market and has recently expanded the scope of holdings of trading open-ended index funds (ETFs). It will continue to increase its holdings and expand its scale, resolutely maintaining the stable operation of the capital market.
The China Securities Regulatory Commission (CSRC) stated its firm support for Central Huijin Company to continue increasing its holdings and efforts, which will create more convenient conditions and smoother channels for its entry into the market. At the same time, the China Securities Regulatory Commission has responded to issues such as the "two financing" margin trading and securities lending business, severe punishment for manipulating the market and maliciously short selling, enhancing the investment value of listed companies, and supporting mergers and acquisitions.