Mixed Performance for Chinese Stocks as Nasdaq Golden Dragon Index Declines

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Nov 26, 2024
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On Tuesday, Chinese stocks listed in the U.S. experienced mixed results. The Nasdaq Golden Dragon China Index (HXC) decreased by 0.84%. Among the gainers, NetEase rose by 0.95%, JD.com increased by 2.38%, Baidu went up by 1.02%, KE Holdings gained 1.74%, BeiGene climbed 0.95%, Full Truck Alliance surged 4.85%, WSP Holdings edged up 0.35%, 360 DigiTech advanced 5.41%, and MINISO Group rose by 2.96%.

Conversely, several stocks saw declines. TSMC fell by 0.67%, Alibaba dropped 0.47%, Pinduoduo decreased by 1.37%, Trip.com Group was down 2.53%, Chunghwa Telecom slipped 0.16%, Li Auto declined 2.72%, ASE Technology Holding fell 1.51%, Tencent Music dropped 1.07%, UMC decreased 0.29%, ZTO Express fell 1.05%, Futu Holdings slipped 0.29%, XPeng Motors dropped 1.98%, Huazhu Group fell 5.89%, New Oriental Education decreased 0.36%, NIO plunged 7.71%, Bilibili fell 1.74%, Vipshop decreased 2.95%, and Zeekr fell 4.28%.

U.S. stock markets closed higher on Tuesday, with both the Dow Jones Industrial Average and the S&P 500 Index reaching intraday and closing record highs. The Federal Reserve's monetary policy meeting minutes indicated a potential for future interest rate cuts, albeit gradually. Markets are also evaluating tariff threats from President-elect Trump. U.S. consumer confidence in November reached its highest level in over a year.

The Dow Jones rose by 123.74 points, or 0.28%, to 44,860.31 points. The Nasdaq increased by 119.46 points, or 0.63%, to 19,174.30 points, and the S&P 500 rose by 34.26 points, or 0.57%, to 6,021.63 points. During the session, the Dow reached a record high of 44,903.01 points, and the S&P 500 hit an intraday high of 6,025.42 points.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.