$PDD

Chinese equities rebounded unevenly over the week, with the ChiNext Index up about 7.1% and the Shanghai Composite up 4.1%, while the Shenzhen Component rose 6.5%. Chip-related shares gained after reports Samsung Electronics and SK Hynix may use more Chinese equipment. Hong Kong’s Hang Seng fell slightly. Alibaba ADRs rose to $132.32 and PDD gained; JD.com is set to report Aug. 13.

Bank of America analyst Alex Liu says overseas sentiment toward China internet and AI stocks has shifted from late-June “helplessness” to “tactical longs” after a July rebound. Key themes include LLM commoditization, easing ByteDance competition, and weak consumption. The article highlights potential beneficiaries such as Tencent, Meituan, JD.com, Alibaba, and Trip.com, with EPS and cloud-growth expectations cited.

On Aug 6-7, US indexes were only slightly down, but memory chip stocks sold off sharply. Western Digital fell 13.03% on Aug 6 and dropped over 5% intraday on Aug 7; SanDisk -6.81% and SK Hynix -4.97%. Goldman Sachs said expectations were priced too high. Nonfarm payrolls missed estimates, lifting gold and silver.

The International Chamber of Shipping urged Bahrain’s foreign minister to restore toll-free passage through the Strait of Hormuz, citing maritime security and seafarer protection. Temu denied EU subsidy allegations after the European Commission’s inspection of PDD Holdings and WhaleCo. Eurobank announced a €2.46m share buyback, and Demetra Holdings reported a small CSE buyback. Cyprus data covered e-kalathi grocery price swings and June 2026 deposit and loan rates.

Shein received approval for a long-delayed Hong Kong IPO, according to a CSRC notice. The company had previously faced failed attempts in New York and London. The article cites a possible September or October listing, a target valuation of $40B to $50B, and a plan to sell up to 8% of shares. Backers include SoftBank and PDD’s rival Temu’s parent PDD Holdings is compared.

Daiwa downgraded PDD Holdings (NASDAQ:PDD) to Hold from Buy, cutting its price target to $80 from $145, citing China’s 2026 6.18 shopping festival data showing GMV up 0.9% YoY vs 15% in 2025, per Syntun. BofA cut its PDD target to $113 from $140 and lowered 2026-27 revenue forecasts; Benchmark lowered its target to $127 from $160 after Q1 results.

The article highlights “fastest-growing” Asian stocks selected via a Finviz screener (annual revenue growth >30% over 3 years) and recent company updates. It cites views from Capital Group, BlackRock, and Baillie Gifford on AI-driven demand and East Asia chip concentration. It provides Q1 results and dividend/repurchase details for Yuanbao (NASDAQ:YB) and analyst rating/price-target changes for PDD Holdings (NASDAQ:PDD).

China’s 618 mid-year shopping festival is ending more quietly than in prior years, reflecting weaker consumer confidence and government pressure on e-commerce platforms to curb excessive discounting. Reuters cites Syntun data: 2025 GMV rose 15% to 855.6 billion yuan, but daily spending fell. Retail sales dropped 0.6% y/y in May. Platforms say brands are prioritizing margins; firms are also using 618 to test AI tools.

Jeffrey Gundlach of DoubleLine Capital told CNBC on June 17 that the Fed’s unchanged funds rate and “consultant task forces” suggest rates may stay steady until fall, with his model indicating inflation could fall into year-end. The article lists hedge-fund high-conviction stocks (Q1 2026, data June 16), including Accenture (ACN) and PDD (PDD), citing recent price-target cuts by JPMorgan, Berenberg, BofA, and Barclays.

Wall Street rallied as President Trump said the Strait of Hormuz is reopening and oil prices fell. WTI dropped 5.4% to about $80/bbl, over 30% below its wartime peak, after the U.S. and Iran moved to end the conflict. Benzinga Pro screened 20 stocks worth $100B+ still down 15%–24% vs Feb. 27. Weakness clusters in staples, healthcare, comms, software and mining; Abbott (down 24%) leads.