On Friday, Chinese stocks continued their upward momentum. As of this writing, Pinduoduo (PDD, Financial) rose by 5.7%, Alibaba (BABA) increased by over 3.6%, Bilibili (BILI) surged more than 7.8%, So-Young (SY), Tuniu (TOUR), and JinkoSolar (JKS) all climbed over 10%, while Baidu (BIDU) saw gains of over 4%, and Tencent Music (TME) edged up slightly.
On September 25th, the Chinese Communist Party's Politburo held a meeting to analyze the current economic situation and strategize the next steps. The meeting emphasized focusing on key areas, taking proactive measures, effectively implementing existing policies, and introducing new policies to further enhance their effectiveness. The goal is to accomplish the year’s economic and social development objectives.
Morgan Stanley believes that, from a technical perspective, the China CSI 300 Index may have approximately 10% more room to rise in the short term. Legendary hedge fund manager David Tepper (Trades, Portfolio) said on Thursday that he would buy all Chinese assets. In an interview, Tepper mentioned, "I thought the Federal Reserve's rate cut decision last week would lead to China easing policies, but I didn't expect such a significant move. This is a complete shift."
