Mixed Performance for Chinese Stocks; SMCI Among Top Gainers

Dec 05, 2024

On Thursday, Chinese stocks showed mixed performance. The NASDAQ Golden Dragon China Index (HXC) rose by 0.42%. Among the gainers, Super Micro Computer (SMCI, Financial) rose significantly by 5.43%, while other notable gainers included Miniso Group (4.06%) and Kanzhun Limited (3.27%).

Conversely, Alibaba (BABA) saw a decline of 0.92%, with other declines from Netease (NTES) at 0.47% and XPeng Inc. (XPEV) at 1.88%.

In the U.S. markets, major indices fell, with the Dow Jones down 248.33 points (0.55%), the NASDAQ down 34.86 points (0.18%), and the S&P 500 down 11.38 points (0.19%). Bitcoin's price surged past $100,000, attracting attention amid expectations of favorable U.S. cryptocurrency regulations.

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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.

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