US stock market

13 brokers' ratings and target prices on BABA-SW (09988.HK)  -1.900 (-2.434%)    Short selling $250.23M; Ratio 6.038%   are listed below:

Stock│ Rating

The management of Onvo, a subsidiary of NIO-SW (09866.HK)  -0.750 (-1.705%)    Short selling $17.77M; Ratio 13.795%   , will make a public appearance on Thursday (9th), and is expected to bring news including the person in charge, branding & meaning of the logo and the Onvo App, etc., a Chinese Weibo blogger said.

IMOTIONAUTOTECH (01274.HK)  +0.300 (+0.503%)   marked a three-day free fall after setting an all-time high. It last printed at $58.8, collapsing 40.46%, on volume of 391,300 shares and turnover of $32.0779 million.

Warren Buffett's investment flagship Berkshire Hathaway Inc. (BRK.A.US)      (BRK.B.US)      released its 1Q24 results saying that it reduced its stake in Apple Inc. (AAPL.US)      by 13% during the quarter, which is estimated to be about 116 million shares in total, according to CNBC.

ISM Services PMI for Apr in United States is 49.4, lower than the previous value of 51.4. The forecast was 52.0.AAStocks Financial News

UOB Kay Hian recently released its Greater China market strategy report. HSI and MSCI China Index rose 7.4% and 6.4% MoM respectively in April, driven by the news of an expansion to the Stock Connect programme in the Chinese market and further relaxation of the restriction on domestic property purchases. With the possibility of further supportive policies rolling out during the Politburo meeting in mid-July, the broker expected that domestic consumer stocks could benefit.

NIO (NIO.US)      is expected to launch a new model under its mass-market brand at the end of this month, and a second small electric car in Europe next year, priced at less than US$30,000, according to sources cited by Reuters.

Chinese media reported that Dai Houliang, Party Group Secretary and Chairman of China National Petroleum Corporation (CNPC), parent of PETROCHINA (00857.HK)  +0.080 (+1.117%)    Short selling $157.83M; Ratio 19.657%   (601857.SH)  +0.110 (+1.099%)   , met with BIDU-SW (09888.HK)  -2.400 (-2.168%)    Short selling $188.11M; Ratio 24.208%   (BIDU.US)      Founder, Chairman and CEO Robin Li and his entourage yesterday (6 May).

China Merchants Securities wrote in a report that China's Internet industry is moving from stability to recovery. Over the past two weeks, a boost in overall stock market sentiment has fuelled a sharp rebound in China's Internet sector.