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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% 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.
The following table shows the ratings and target prices of 10 brokers on NTES-S (09999.HK) +2.400 (+1.552%) Short selling $156.00M; Ratio 14.704% :
Roaring Kitty, the leader of the original GameStop (GME.US) short squeeze event, has returned to social media platforms. After a sharp rise yesterday, GameStop skyrocketed another 36% in today's pre-market session. It was last quoted at US$41.55, spiking US$11.1.
Citing sources, Bloomberg reported that US President Joe Biden is set to announce a major increase in tariffs on some Chinese goods this week, with total tariffs on EVs set to surge from 27.5% to 102.5%, while tariffs on other affected target industries are set to double or triple. Still, the exact scope is not yet clear.
TENCENT (00700.HK) +7.200 (+1.941%) Short selling $845.93M; Ratio 10.947% will release its 1Q24 results next Tuesday (14th).
Li Bin, CEO of NIO-SW (09866.HK) -0.700 (-1.705%) Short selling $107.86M; Ratio 56.408% , said that the NIO brand focuses on the high-end market, while Onvo focuses on the household market, and needs to balance the experiential value and costs, according to China Business Network.
Initial Jobless Claims for May/04 in United States is 231K, higher than the previous value of 209K. The forecast was 210K.AAStocks Financial News
TSMC (TSM.US) reported consolidated operating revenue of NT$236.021 billion in April, lifting 20.9% MoM and 59.6% YoY.
HSBC Global Research noted in a report that SJM HOLDINGS (00880.HK) -0.040 (-1.361%) Short selling $15.51M; Ratio 20.148% surprised the market with its 1Q24 performance, with fundamentals continuing to improve and both the Grand Lisboa and Grand Lisboa Palace (GLP) outperforming expectations, with cost containment being a key contributing factor.