Yahoo Finance Markets Reporter Ines Ferre examines Chinese stocks, such as Alibaba (BABA), JD.com (JD), and Baidu (BIDU), after investors bought the dip on China’s markets, while also taking a look at the property manager Country Garden (2007.HK) first-half results amid liquidity pressures.
BRAD SMITH: Some stocks in China are taking a breather today after investors bought the dip over the last several sessions. Talk of more government intervention to help China’s struggling property market is raising investor sentiment. Iness Ferre has the details here. Hey, Ines.
INES FERRE: Hey, Brad. Yeah. And we are seeing a little bit of pressure on some of these stocks today, a little bit of a breather as you just put it, especially when it comes to the EV space. Part of that has to do, of course with Nio’s latest results. So you can see on our YFi Interactive that you’re looking at the EV stocks that are under pressure. But the rest a little bit of a breather, mixed picture.
I’m going to pull up a three-day chart here so you can see some of the dip buying that went on over the last couple of sessions. And if I pull up a one-month chart, you can see the action there. I’m going to pull up BABA because in a one month chart, you can see here, a low here around August 21 and then the dip buying that went on after that. A one-month chart here shows that it’s down 7%.
But look, the government has been taking measures, the Chinese government, a couple of measures to lift the market, the stock market, cutting a stamp duty on stock trading for the first time since 2008. Also Chinese