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last night, chinese concept stocks continued to rise sharply.

chinese concept stocks surge

last night, all three major u.s. stock indexes closed higher, with the dow jones industrial average rising 0.81%, the s&p 500 index rising 0.9%, and the nasdaq composite index rising 1.22%. jpmorgan chase rose more than 3%, leading the dow jones industrial average.

tesla rose about 4%, and amazon rose more than 2%. chinese concept stocks generally rose, with tiger brokers up about 35% and ehang intelligent up about 20%.

in terms of news, yesterday evening, the u.s. bureau of labor statistics released the number of non-farm employment in september, which greatly exceeded expectations.

u.s. nonfarm payroll employment increased by 254,000 in september, compared with expectations for an increase of 140,000 and the previous increase of 159,000. the u.s. unemployment rate fell to 4.1% in september, with the total number of unemployed people at 6.8 million. these figures are higher than a year ago, when the unemployment rate was 3.8% and the number of unemployed people was 6.3 million.

the u.s. bureau of labor statistics revised the number of new non-farm jobs in july from 89,000 to 144,000; the number of new non-farm jobs in august was revised from 142,000 to 159,000. after the revision, the total number of new jobs in july and august was 72,000 higher than before the revision.

after the data was released, traders wiped out bets that the federal reserve would cut interest rates by 50 basis points in november.

david kostin, chief u.s. equity strategist at goldman sachs, said he raised his 12-month target for the s&p 500 from 6,000 to 6,300, taking into account expectations for profit growth in 2025. kostin raised his 2025 s&p 500 earnings per share forecast to $268 from $256, an 11% improvement from the previous year.

popular chinese concept stocks generally rose, with the nasdaq china golden dragon index rising 3.05%. this week, the index rose 11.9%.

tiger securities rose by about 35%, ehang intelligent rose by about 20%, jinkosolar rose by more than 14%, zhihu rose by more than 12%, daqo new energy rose by more than 11%, huya live and weibo rose by about 10%, minso youpin rose more than 8%, century internet and ctrip group rose about 6%, and gds and jd.com rose more than 5%.

foreign capital continues to buy, buy, buy

on october 4, the latest data from the hong kong stock exchange showed that a number of chinese-funded companies listed in hong kong were purchased by jpmorgan chase.

xpeng motors acquired approximately 12.15 million shares from jpmorgan chase on september 30 at an average price of hk$52.6312 per share, involving an investment of approximately hk$639 million.

after increasing its holdings, jpmorgan chase recently held approximately 83.1 million shares, and its position ratio increased from 4.57% to 5.35%.

the investment bank also increased its holdings in zijin mining group by hk$222 million, raising its shareholding ratio from 6.98% to 7.19%, and increased its holdings in anhui conch cement co., ltd. by hk$287 million, raising its shareholding ratio from 5.56% to 5.56%. 6.53%.

kanzhun technology, which operates the online recruitment platform boss direct recruitment, received an increase in its holdings of approximately 2.02 million hong kong shares from jp morgan on september 30. the average price per share was approximately hk$68.68, involving an investment of approximately hk$138 million. the shareholding ratio increased from 9.88% to 10.05%.

previous document disclosures show that on september 27, jpmorgan chase purchased china pacific insurance h shares worth hk$267 million, byd h shares worth hk$1.791 billion, tsingtao brewery h shares worth hk$242 million, etc.