Mixed Performance for Chinese Stocks; Kingsoft Cloud (KC) Surges

Feb 03, 2025

On Monday, Chinese stocks showed mixed performance. The Nasdaq Golden Dragon China Index (HXC) fell by 0.53%. Among the gainers, NetEase rose 0.80%, Trip.com increased 2.65%, United Microelectronics Corporation (UMC) gained 4.24%, and XPeng Motors climbed 3.29%. Kingsoft Cloud (KC, Financial) saw a significant increase of 20.45%.

Conversely, several Chinese stocks experienced declines. Taiwan Semiconductor Manufacturing Company (TSM) dropped 4.55%, Alibaba slipped 0.23%, and Pinduoduo fell 5.96%. JD.com decreased by 1.69%, while Baidu saw a 3.19% decline. Tencent Music fell by 1.71%, and KE Holdings dropped 5.36%.

In the broader U.S. market, stocks closed lower on Monday. The Dow Jones Industrial Average fell over 100 points but managed to recover from its intraday lows. Investors are closely watching U.S. President Trump's tariff policies. He announced new tariffs on countries like Canada and Mexico but later delayed the implementation for Mexico by a month.

The Dow Jones dropped 122.75 points, or 0.28%, to 44,421.91. The Nasdaq declined 235.49 points, or 1.20%, to 19,391.96, and the S&P 500 decreased 45.96 points, or 0.76%, to 5,994.57.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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