BIDU - Alibaba: The Narrative Has Changed Be Informed

• ETFs heavy on Chinese internet names such as KWEB and CQQQ continued their strong performance.
• The dazzling IPO of Tencent-backed Kuaishou was massively oversubscribed both by institutions and retail investors and it opened at triple its raised offering price.
• Short-seller target JOYY soared 25 percent last week and 44 percent YTD but its share price climb seemed to be more attributable to its fundamental merits than the Redditors' effect.
• Alibaba delivered earnings surprises yet again with significant improvements in FCF and net cash. The management subtly guided new growth areas during the earnings call.
• The media narrative has changed for the positive, boding well for investor sentiment and fueling the climb in Alibaba's share price.

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