Dear readers, yesterday overnight, Chinese tech stocks listed on the US stock exchanges had a stellar performance. Take for example, AliBaba stock, which rallied up by 10.40% on the US stock exchange yesterday. Thus it is not surprising that AliBaba has gone up by 10.03% on the Hong Kong stock exchange as at this point in writing. The rally in Chinese stocks was fuelled by Beijing’s move to bolster the economy.
I lost count on all the developments in relation to Chinese technology stocks listed on the US stock exchange this year. Geo-political factors between US and China, Chinese regulations, for example. And broad-based macro factors. This is why I continue to think that Chinese stocks are still being rather volatile right now.