- The People's Bank of China decided to be more overt with its actions last week, rather than relying on messaging about its commitment to keep liquidity ample, defying the skeptics.
- In the tussle of the trove of consumer data, Ant Group has averted the worst-case scenario with the formation of a joint venture with state-owned enterprises.
- Baidu's big share price jump, which boosted the CQQQ ETF, could be a delayed reaction to its mid-June announcement of rolling out a fleet of 1,000 autonomous EV robotaxis.
- Somewhat supportive of the market sentiment last week was perhaps the US and China heading towards more reconciliatory stances. The bark-is-worse-than-the-bite revelation bodes well for investors in Chinese internet stocks.
- The geographical and business diversification of Futu would go a long way to shock-proofing its prospects and serves as a model for Alibaba to follow, even as an SEC leadership overhaul suggests a substantially diminished delisting threat for U.S.-listed ADRs.
For further details see:
Futu's Diversification Success Points A Way Forward For Alibaba