Market Updates
China Markets Halt 5-Week Rally Amid Valuation and Earnings Growth Worries
Li Chen
15 May, 2025
Hong Kong
China and Hong Kong stock market indexes struggled to gain their footing on Thursday's trading as investors awaited quarterly results from tech companies.
Investors turned cautious after a five-week market rally drove indexes higher by 19% amid unresolved structural issues between the U.S. and China.
The rapid run-up in stock over the last weeks is worrying some investors, and mixed results from e-commerce leader JD.com also dented market sentiment.
Alibaba Group Holding is scheduled to release its quarterly results later today, and investors are hoping that the e-commerce company's results will surpass market expectations.
Beijing policymakers are less likely to announce additional stimulus measures to
China Indexes and Stocks
The Hang Seng index decreased 0.3% to 23,581.29, and the CSI 300 index dropped 0.6% to 3,919.65.
JD.com Inc. dropped 3.5% to HK $136.50 after the e-commerce company reported better-than-expected sales growth in the first quarter, but earnings fell short of market expectations.
Alibaba Group Holding Ltd. declined 0.3% ahead of the company's financial results later today.
Contemporary Amperex Technology Company declined 0.2% to ¥262.0 in Shanghai trading ahead of the company's public offering in Hong Kong.
The lithium-ion battery maker for electric vehicles is expected to price its $4.6 billion offering at the top end of its filing range at HK $263 per share.
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