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BYD’s Electric Vehicle Crown While Tencent & Alibaba Buyback Stock

Posted on AllSides January 2nd, 2024
From The Center

Asian equities were mixed overnight as Thailand and the Philippines outperformed, while Hong Kong and Mainland China underperformed after strong moves last week. Japan was closed for the New Year’s holiday. The main culprit was the “official” December Manufacturing PMI data missing expectations of 49.6 with a release of 49 versus November’s 49.4. PMIs are a diffusion index comparing month-over-month data with readings below 50 marking a contraction/growth slowing. CNY fell -0.59% versus the US dollar to 7.14 from Friday’s 7.10 (unlike most currencies, CNY is quoted as US $...

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