BEIJING – Mainland Chinese stock markets rallied this week after their benchmark indices hit high five-year highs in recent years.
Shanghai SHCOMP Integrated Index,
Shenzhen SZCP Component Index,
and large CSI index 300 Table 000300,
they all fell in the 1% range on Monday. They opened down later Tuesday.
Despite the start of the week, major Chinese stocks at home have been driving a bull run lately. But what about overseas? Here are several Chinese stocks listed overseas – those in the U.S. and Hong Kong – that have gained a strong 2021.
Baidu: Baidu Inc., a Chinese listed search engine director at Nasdaq, BIDU
they had a strong 2020 but in particular the bullet was picked up last month, amid a wave of positive news. Initially, UBS called for improvements to its key areas of focus as part of why the investment bank upgraded it from “neutral” to “buy”. But the share price has surpassed these gains in the past few days on rumors that the company would finally confirm plans to produce electric vehicles – which it did over the weekend – announces it will partner with Zhejiang Geely Holding Group GELYY,
175,
which has Lotus and Volvo among other brands.
Noah: Noah Holdings Ltd., which provides wealth management services to wealthy people in China, has been running for months. But their New York-registered NOAH ADRs have listed 70% since early December, just after the company announced a stock-buying plan, a move that often reveals that company leadership sees shares as they are not valued enough. The bull’s run could slow, however, as JPMorgan Chase & Co. downgraded. the stock went from “fat” to “neutral” last week.
Oilfield Services China Ltd .: This oil services company registered in Hong Kong 2883,
is a subsidiary of a large state-owned CNOOC Chief Executive,
883,
its shares saw it climb nearly 17% this year, after turning a profit of 2.5 billion Yuan ($ 386 million) from 31.3 billion Yuan in revenue last year. Analysts at Argus energy experts said, “The focus of Chinese state-controlled companies on coal gas, as part of China’s disarmament plans, offers a clear place for domestic oil field services companies this year. “Reporters at Simply Wall St said a recent review of the company’s financial statements leads them to” expect China Oilfield Services to make higher profits next year. “
NetEase: Nasdaq NTES listed shares,
of game and e-commerce company NetEase Inc. has jumped around 14% so far this year, as the company continues to download the financial services-related arms – an area that, under the control of the Ant Financial government, has gone under major study in China. Two weeks ago NetEase announced the closure of Youqian, which allowed users to manage their personal expenses through an app.
Meanwhile, in Hong Kong:
Tencent: Jitters over Trump administration’s efforts to 700cent Tencent Holdings Ltd. to prevent,
A wide range of products – including WeChat’s “everything” app in China – caused the Hong Kong-listed company’s stock price to fall sharply at the end of December. But he has earned that loss and more, gaining around 5% this month. Part of Tencent’s deception? Its extremely wealthy but lowly leader, Pony Ma, has avoided the government scalping of Alibaba BABA’s rival titan Jack Ma,
Sunny Optical: Other winners include Sunny Optical 2382,
which makes camera lenses for several major Chinese phone manufacturers. Its stock has grown 29% over the past month and hit a full-time Monday considering Apple AAPL,
listed to produce some of the iPhone manufacturer’s lens parts.
Tanner Brown covers China for MarketWatch and Barron’s.