QQQ - Spring-Loaded Chinese Internet Stocks Build On Bullish Macro Data
- A plethora of positive data points reflecting a buoyant Chinese economy was released late in the week.
- Healthy signs of continued economic growth from travel and trade data as well as PMI results particularly bodes well for Chinese e-commerce companies like Alibaba Group.
- On a year-to-date basis, the ARKK ETF has significantly underperformed both the CQQQ ETF and the KWEB ETF, indicating that the current tech slump is not limited to Chinese equities.
- I discuss the implications of Baidu's launch of its fully driverless robotaxi service to the public in Beijing from May 2.
- I also took a deeper look at JD, and in particular its logistics arm, based on its updated IPO prospectus.
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Spring-Loaded Chinese Internet Stocks Build On Bullish Macro Data