|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's range||141.66 - 145.80|
|52-week range||73.60 - 186.00|
|Beta (5Y monthly)||0.74|
|PE ratio (TTM)||N/A|
|Earnings date||20 Nov 2023 - 24 Nov 2023|
|Forward dividend & yield||N/A (N/A)|
|1y target est||178.92|
Yahoo Finance Markets Reporter Ines Ferre examines Chinese stocks, such as Alibaba (BABA), JD.com (JD), and Baidu (BIDU), after investors bought the dip on China's markets, while also taking a look at the property manager Country Garden (2007.HK) first-half results amid liquidity pressures.
China's major tech companies have shed more than $1 trillion in value -equivalent to the entire Dutch economy - since the government's regulatory crackdown on the sector began more than two years ago, according to Refinitiv data. Investors are now hoping the strict rules that have stymied growth since late 2020 will start to ease, after the People's Bank of China (PBOC) indicated a change in direction could be under way. The state planner on Wednesday praised Tencent Holdings, the world's largest video game company, and e-commerce titan Alibaba Group, for their contributions to China's tech innovation, in another sign that authorities are warming to the technology sector once more.
U.S. equity markets opened lower and turned mixed on the heels of disappointing retail sales data and weak guidance from home improvement retailer, Home Depot Inc. (NYSE: HD). Retail sales rose by just 0.4% in April –– missing forecasts calling for an increase of 0.8%, following the retreat in March. Ahead of a slew of earnings from U.S. retailers, Home Depot shares slid over 1% in morning trade as it slashed its sales and earnings forecasts for the year. Overseas in China, economic data releases reflected an economy that is still in recovery. Key data including retail sales, industrial production, fixed asset investment, and manufacturing PMI came in below expectations. Earnings from Baidu Inc. (NASDAQ: BIDU) topped earnings estimates with Q1 revenue rising by 10% as businesses boosted ad spending. Baidu shares advanced on Tuesday, extending a higher close ahead of quarterly results. Separately, Alibaba Group Holding Ltd. (NYSE: BABA) is scheduled to report an improvement in EPS and revenue when it releases earnings on Thursday. China abandoned strict COVID restrictions at the end of last year. Some investors took bets on the reopening trade in the economy. Q1 2023 GDP for China expanded 4.5% but only time will tell if momentum will remain strong among businesses in the world’s second-largest economy.