KWEB - （KraneShares Trust KraneShares CSI China Internet ETF）

Related Stocks: KWEB , SCRMU , PCG , TMUS , BABA ,

Related Stocks: BABA , KWEB , YMM , BX , AMZN ,

The Chinese Communist Party broadcasted a dramatic shift in its zero Covid policy late last year. Long-time investors who read the signal benefited greatly. The China Internet ETF (KWEB) rose by over 100% from its 52-week low. Weibo (WB), Alibaba …

Profit-Taking Hits Chinese Stocks After Lunar New Year Break China stocks pulled back from bull market territory on Monday, the first trading session after a week-long Lunar New Year break. The CSI 300 index initially surged but lost steam in afternoon trading to end up about half a percent higher, failing to maintain bull market territory. Today''s pop then selling pressure is a suspicious start to the Year of the Rabbit and might indicate profit-taking. Some analysts believe Chinese stocks might take a much-needed breather after nearly three months of gains. The CSI 300, which tracks the largest Chinese mainland-listed stocks, gained 19.88% from its October 2022 low. "It seems like a classic move for onshore — open high then go lower. I think the market is very excited about the Chinese New Year data, but in reality, if you look at the details, it is kind of mixed," said Willer Chen, senior analyst at Forsyth Barr Asia Ltd. Despite the bullish views on the reopening narrative that has helped propel Chinese stocks in recent months, there are a bunch of lingering negatives, including the Biden administration''s tech war against Beijing, Covid infections, broad slowdown, and a housing crunch.

China delivers more punches to bears as it decisively downgraded the threat level for managing COVID. See why fund managers turned from pessimistic to optimistic.

The Chinese stock market is having a rough 2022 . For the year, the S&P 500 cash index is lower by nearly 17% (3,970). The iShares China Large-Cap ETF (NYSE: FXI ) is off by 26% and the KraneShares CSI China Internet ETF (NYSE: KWEB ) has tumbled 36% ($26.70). If you are taking the declines since their peaks in early 2021, the numbers are much more daunting. Despite the recent chaos in China regarding COVID-19 restrictions, the market and some individual issues have distanced themselves from their recent lows. One of those issues is Pinduoduo Inc. (NASDAQ: PDD ), which is the PreMarket Prep Stock of the Day . The Company: Pinduoduo is the third-largest e-commerce platform by gross merchandise volume and the largest platform by active buyers in China. In 2021, it achieved 2,441 billion yuan ($345 billion) of gross merchandise volume and 2,810 billion yuan ($397) billion of annual spending per active buyer. It had 11.5 million active merchants in 2021 and 882 million active buyers in the year ended March 2022.

Futures tracking Canada''s resource-heavy stock index was flat on Wednesday as investors awaited inflation data for clues on the pace of monetary policy tightening. The TSX Composite gained 72.97 points to conclude Tuesday at 19,994.78. December futures on the S&P/TSX index were up 0.02%. Loblaw Cos surpassed Wall Street estimates for third-quarter revenue as the Canadian retailer credited robust demand for groceries and drugs despite higher prices. On the economic slate, Statistics Canada reported October’s consumer price index rose 6.9% on a year-over-year basis, matching the increase in September. On a seasonally adjusted monthly basis, the CPI increased 0.6% last month. ON BAYSTREET The TSX Venture Exchange dropped 8.22 points, or 1.4%, to 593.53. ON WALLSTREET Stock futures dipped Wednesday as investors weighed another lighter-than-expected inflation report and looked ahead to retail sales data. Futures for the Dow Jones Industrials retreated 16 points to 33,589. Futures for the S&P 500 inched back two points to 3,997.50.

Stock futures dipped Wednesday as investors weighed another lighter-than-expected inflation report and looked ahead to retail sales data. Futures for the Dow Jones Industrials retreated 16 points to 33,589. Futures for the S&P 500 inched back two points to 3,997.50. Futures for the NASDAQ Composite faded 11 points, or 0.1%, to 11,893.25. Traders were also on the look out for U.S. retail sales data for further cues on the strength of the U.S. economy. Target fell 13% after the retailer forecast a surprise drop in holiday-quarter sales. Shares of Lowe’s rose about 2% in pre-market trading after the home improvement retailer beat estimates on the top and bottom lines for the third quarter and raised its full-year earnings forecast. Lowe’s reported $3.27 in adjusted earnings per share on $23.48 billion of revenue. Analysts surveyed by Refinitiv had penciled in $3.13 in earnings per share on $23.10 billion of revenue. Comparable sales also beat expectations, Walmart, Bed Bath & Beyond, Home Depot and Costco slipped about 1%.

The KraneShares CSI China Internet Fund, an exchange-traded fund holding more than 40 Chinese stocks, soared 7.4%.

Last Friday, Oct. 28, 2022, China’s city of Wuhan entered lockdown again. Over 800,000 people in one district needed to stay at home. China has dozens of cities under some form of lockdown. Alibaba (BABA), an e-commerce firm in China, and Baidu (BIDU), a search engine, erased its rally last week. Chances are high that the downtrend that began in late 2020 will continue. The lockdown disrupts global trade. American firms relying on Chinese workers will face delays. Already, firms like Apple (AAPL) are diversifying a small percentage of iPhone production. The company is shifting from China to India to de-risk its supply chain. Investors must watch out for further selling pressure from Chinese internet firms. Dynamic zero covid is hurting China’s economy. The Chinese government’s Common Prosperity and regulations against technology firms could intensify. In the electric vehicle market, investors should pick Tesla (TSLA) over Chinese EV firms. Nio (NIO) peaked at $60. Its 52-week low is in the high single digits.

Last Friday, Oct. 28, 2022, China’s city of Wuhan entered lockdown again. Over 800,000 people in one district needed to stay at home. China has dozens of cities under some form of lockdown. Alibaba (BABA), an e-commerce firm in China, and Baidu (BIDU), a search engine, erased its rally last week. Chances are high that the downtrend that began in late 2020 will continue. The lockdown disrupts global trade. American firms relying on Chinese workers will face delays. Already, firms like Apple (AAPL) are diversifying a small percentage of iPhone production. The company is shifting from China to India to de-risk its supply chain. Investors must watch out for further selling pressure from Chinese internet firms. Dynamic zero covid is hurting China’s economy. The Chinese government’s Common Prosperity and regulations against technology firms could intensify. In the electric vehicle market, investors should pick Tesla (TSLA) over Chinese EV firms. Nio (NIO) peaked at $60. Its 52-week low is in the high single digits.

Related Stocks: ONON , DOCU , KWEB , AMZN , NFLX ,

Chinese ADRs Spike After SEC Reaches Audit Agreement With Beijing The U.S. and China, in their first measure of any type of diplomatic progress in months, appear to have reached a preliminary agreement on audit inspections for U.S. listed, China-based companies. China-linked U.S. listed stocks are rocketing higher in the pre-market session as a result. The KraneShares CSI China Internet ETF was up almost 5% on the news, as China-based tech stocks like Alibaba, JD and others were bid higher. Even Chinese equities caught a bid, with the iShares China Large-Cap ETF rising almost 3% pre-market: "Beijing and Washington have reached a preliminary agreement to allow American officials to review audit documents of Chinese businesses, according to American officials," Bloomberg reported early on Friday morning. SEC Chair Gary Gensler said in a statement : "This agreement marks the first time we have received such detailed and specific commitments from China that they would allow PCAOB inspections and investigations meeting U.S. standards." It "will be meaningful only if the PCAOB actually can inspect and investigate completely audit firms in China.

https://www.investing.com/news/pro/kraneshares-csi-china-internet-etf-call-put-ratio-158-calls-to-1-put-as-shares-rally-74-432SI-2880160

Pinduoduo, the 10th biggest weight in KWEB, hangs just above key technical support. See why PDD stock looks attractive here ahead of earnings.