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AliExpress, a subsidiary of BABA-SW (09988.HK) +1.500 (+1.848%) Short selling $634.39M; Ratio 9.795% (BABA.US) , entered into a cooperation agreement with 4 South Korean logistics companies, including CJ Logistics and Hanjin. The above logistics companies will provide delivery tasks within South Korea for the next year.
Temu, the cross-border e-commerce platform of PDD Holdings Inc. (PDD.US) , plans to shift its focus to markets outside the US as a way to reduce risks, and find other growth drivers, The Wall Street Journal quoted sources as saying.
TME-SW(01698.HK) +4.350 (+7.931%) Short selling $437.89K; Ratio 1.868% released its 1Q24 results ended March 2024. Net profit amounted to RMB1.422 billion, up 23.9% YoY. EPS was RMB0.46, and earnings per ADS was RMB0.92. Non-IFRS net profit increased by 20.8% YoY to RMB1.704 billion. TME-SW also declared a dividend of US$6.85 cents per share for 2023.
As the market waits for the release of the latest inflation data from the US this week to see if it matches the upwardly revised inflation expectations, DJIA fell on Monday, ending an eight-day streak of gains. DJIA closed 81 points or 0.2% lower at 39,431. S&P 500 closed decrementing 1 point or 0.02% at 5,221. Nasdaq closed 47 points higher at 16,388.
TME-SW (01698.HK) +4.350 (+7.931%) Short selling $437.89K; Ratio 1.868% announced its 1Q24 results ended March after the Hong Kong market closed yesterday (13 May). It declared a dividend of USD6.85 cents per share for the year 2023, with total cash dividends expected to be paid out at around US$210 million. The US ADR of TME (TME.US) surged 10.9% to US$14.8 overnight. Many brokers highlighted that this is the company's first dividend payment since it went public.
HSBC HOLDINGS (00005.HK) +0.850 (+1.248%) Short selling $278.19M; Ratio 16.169% repurchased a total of 6.7891 million shares in the UK and Hong Kong markets yesterday (13th), involving a total of $462 million, according to HSBC HOLDINGS' announcement.
TME-SW (01698.HK) +4.350 (+7.931%) Short selling $437.89K; Ratio 1.868% opened up 4.8% today and once surged 11.3% to peak at $61.05. It trades now at $61, mushrooming 11.21%, with a volume of 70,900 shares and a turnover of $4.239 million.
TME-SW (01698.HK) +4.350 (+7.931%) Short selling $437.89K; Ratio 1.868% 's 1Q24 results beat expectations, with total revenue and non-IFRS net profit exceeding estimations, and net growth in music subscribers hitting a new high, Jefferies issued a research report saying.
China's internet sector rebounded strongly over the past 2 weeks on improved market sentiment, with key drivers including upcoming 1Q24 results, UBS issued a research report saying. With the release of 4Q23 results between late February and March, UBS believed that much of the management guidance should have been reflected in the 1Q24 forecast.
MNSO (09896.HK) -0.200 (-0.404%) Short selling $81.28M; Ratio 29.201% announced its 1Q24 results for the period ended March this year. Revenue was RMB3.724 billion, up 26% YoY, mainly due to a 19.3% YoY growth in the average number of shops at the group level and a same-store sales growth of about 9%. Net profit reached RMB582 million, up 25.1% YoY, with an EPS of RMB0.47.