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home / news releases / SPY - Alibaba's Bottoming Despite Odds Baidu's Dog Days Are Over

SPY - Alibaba's Bottoming Despite Odds Baidu's Dog Days Are Over

SPDR S&P 500
  • In a positive start to 2021, the representative ETFs of Chinese companies rallied by a wide margin over with their respective U.S. counterparts.
  • The outperformance came despite the dark cloud of investment bans on Alibaba and Tencent, as well as usage prohibition of certain Chinese apps in the U.S., including Alipay and WeChat Pay.
  • The level of fear-mongering on Alibaba was so high that some readers took it to be the contrarian "buy" signal. The rebound rewarded the brave shareholders who ignored the naysayers.
  • Baidu soared as it made progress in its EV-making plans and secondary listing in Hong Kong. Its video unit iQIYI also announced a series of positive developments.
  • NetEase established a record high share price following the official launch of its highly anticipated large-scale 3D version of its oriental fantasy MMORPG mobile game "Revelation Online".

For further details see:

Alibaba's Bottoming Despite Odds, Baidu's Dog Days Are Over
Stock Information
Company Name: SPDR S&P 500
Stock Symbol: SPY
Market: NYSE
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