July 9, 2020
There are about 230 Chinese companies listed on the Nasdaq and New York Stock Exchange.
Let's take a look how a few of the biggest Chinese stocks, listed and tradable on U.S. exchanges, are performing.
First we have Alibaba (symbol BABA), China's biggest (and one of the world's biggest) e-commerce platforms and one of the biggest cloud companies…
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It has broken out. This is a $650 billion company that is up 24% since early last week. Next, is JD.com (symbol JD). JD is China's biggest e-retailer, and with its infrastructure, the closest to China's version of Amazon.
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This stock (JD) has gone vertical since late May, which happens to be when the Senate passed a bill to de-list Chinese companies from U.S. exchanges. Of course that would have to get through the House too, which seems unlikely.
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This chart above is Chinese Life Insurance (symbol LFC). Unlike the two tech giants, this stock is moving off of the bottom. It's up 36% since early last week.
Another stock moving off of the bottom is Petro China (symbol PTR). This is the fourth largest Chinese ADR, by market cap, and is up about 12% from last week. |
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Finally, here's Tencent (symbol TCEHY). This is one of the most powerful companies in China. This stock, too, has broken out in the past seven trading days.
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