Institutional buying boosted Chinese ADRs in past two weeks - Vanda Research

DiDi Global

18/11/2021 11:45

** Chinese ADRs were among the best performing sectors over
the past fortnight, with institutional investors buying stocks
amid hopes of improving U.S.-Sino relations, according to data
firm Vanda Research
    ** E-commerce giant Alibaba's  BABA.K  positive single's day
sale and ride-hailing giant Didi's  DIDI.K  plans to relaunch
its apps in China also helped improve the sentiment, Vanda
analysts said in a note [ urn:newsml:reuters.com:*:nL1N2S307W] urn:newsml:reuters.com:*:nL1N2S21GC
    ** Retail investors were net sellers of most China tech ADRs
- Vanda 
    ** U.S. President Joe Biden and Chinese leader Xi Jinping
held a three-hour talk on Tuesday, where they stressed their
responsibility to the world to avoid conflict  urn:newsml:reuters.com:*:nL1N2S60ON
    ** Vanda analysts added potential removal of U.S. tariffs
and Chinese regulators' decision to loosen property market
restrictions also added to the positive outlook toward the
sector
    ** The S&P/BNY Mellon China Select ADR index  .BKTCN , which
tracks the ADRs of major U.S.-listed Chinese cos gained 7.7%
last week, but has lost some 3.3% so far this week 
    ** IShares MSCI China ETF  MCHI.O , iShares China Large-Cap
ETF  FXI.N  and KraneShares CSI China Internet ETF  KWEB.K  are
all set to drop between 0.5% to 3% this week, but gained between
4.4% and 10.8% last week

 (Reporting by Shashank Nayar)
 ((Shashank.Nayar@thomsonreuters.com;))