The positive sentiment in the A-share real estate sector was transmitted to the US stock market tonight.
On May 17, local time, after the opening of the U.S. stock market, Chinese concept stocks, especially those in the real estate sector, rose strongly. Fang Duoduo once rose by more than 400% intraday to trigger a circuit breaker, and many Chinese-funded real estate stocks rose sharply and hit a new high in the stock price stage. Due to the announcement of a partnership with OpenAI, the stock price of REDDIT, known as the "U.S. stock post bar", rose strongly tonight.
Chinese real estate stocks rose sharply
Wind data shows that Fang Duoduo, which rose sharply before the market, once soared by more than 320% after the opening of the market, triggering a circuit breaker, and the company's stock price regained its momentum after a slight retreat. As of 22:45 Beijing time on May 17, Fang Duoduo's share price was $1.97, an increase of more than 380%, and the intraday increase once reached more than 400%, hitting a new high of $2.1 per share.
Image source: Wind
On the news side, the domestic real estate market ushered in the centralized release of favorable policies: from the cancellation of the lower limit of the interest rate policy for commercial personal housing loans for the first and second houses at the national level, to the adjustment of the minimum down payment ratio of personal housing loans, to the announcement of multiple departments that they will introduce supporting policy documents related to guaranteed delivery of housing, and the central bank announced the establishment of a 300 billion yuan scale of affordable housing refinancing, a series of policies directly detonated the real estate sector of the A-share market, and drove the trading enthusiasm of the relevant sectors of the US stocks.
Wind data shows that as of 22:50 Beijing time, FLJ rose by more than 81%, and the intraday increase once expanded to nearly 90%; Xinyuan Real Estate rose nearly 20%, with its share price hitting a new high of $4.225 per share during the session, while Nam Tai Real Estate rose more than 11%.
Hand in hand with AI giant "U.S. stock stickers" strengthened
Riding on OpenAI's "fast train", the stock price of REDDIT, known as the "U.S. stock sticker", also rose strongly tonight.
Wind data shows that REDDIT shares remained high after the open, and as of 22:20 Beijing time on May 17, the company's intraday gains expanded to nearly 15%, with a total market value of $10.6 billion.
Image source: Wind
On the news side, on May 16, local time, OpenAI issued a statement saying that in a partnership with REDDIT, OpenAI will introduce content from the REDDIT website to chatbot ChatGPT and other products, while also helping the social media company add new artificial intelligence features to its forums.
OpenAI said that the partnership between REDDIT and OpenAI will benefit the REDDIT and OpenAI user communities in a variety of ways.
For the AI sector of U.S. stocks, Tianfeng Securities said that it saw that some major technology companies continued to raise their annual capital expenditure guidance, and from the software side, most companies' performance in the first quarter of 2024 exceeded expectations, and product innovation continued to promote the long-term trend of the AI industry chain. It is recommended to pay attention to the hardware requirements of AI computing power and infrastructure, and the investment opportunities brought by the continuous iteration of applications and models.
Reviewer: Wang Chao Editor: Zhang Nan Jiao Yuanyuan Proofreader: Yu Hongbo Signed: Peng Yong