On September 12, 2024, pre-market trading in the U.S. saw widespread declines among prominent Chinese stocks listed on American exchanges. Specifically, the NASDAQ Golden Dragon China Index fell by 0.79%. Notable decliners included BeiGene, which decreased by nearly 7%, and automotive stocks such as NIO and XPeng, both of which declined by over 5%, while Li Auto fell by more than 3%. Additionally, other stocks such as Manbang, Bilibili, and NetEase experienced declines exceeding 1%. In contrast, spot gold surged to a historic peak, closing up by 1.88%, and spot silver also demonstrated strong performance, rising by 4.15%.

The decline in U.S.-listed Chinese stocks on September 12 was evident, with the NASDAQ Golden Dragon China Index dropping by 0.79%. For instance, DouYu experienced a substantial drop of 13.7%, and BeiGene fell by 7.05% following allegations of trade secret theft by AbbVie. BeiGene has vehemently denied these allegations and is preparing a robust defense.

(Source: uSMART HK)

Moreover, the automotive sector, represented by NIO, XPeng, and Li Auto, saw declines of 5.71%, 5.69%, and 3.58%, respectively. These declines are likely attributed to increased global competition, supply chain disruptions, and macroeconomic uncertainties affecting the electric vehicle industry, which faces challenges related to rising production costs and shifting market demand.In addition to the aforementioned declines, stocks such as Manbang, Bilibili, and NetEase also fell by more than 1%.

Nevertheless, despite the overall downward trend, some Chinese stocks exhibited positive performance. For example, Dingdong Maicai rose by 6.67%, Pinduoduo increased by over 2%, and Alibaba, JD.com, Weibo, Baidu, and Vipshop all saw modest gains.

(Source: uSMART HK)

Following the announcement of the European Central Bank's policy decision on the evening of September 12, spot gold experienced a sharp rise, reaching a historic high of $2,560.12 per ounce and closing up by 1.88%. Similarly, spot silver demonstrated strong performance with a short-term increase, closing up by 4.15% at $29.857 per ounce.

How to Invest Using uSMART:

To invest using the uSMART HK app, first log in and select "Search" from the top right corner of the page. Enter the asset code, such as "DDL," to view detailed information and historical trends. Then, click on "Trade" at the bottom right, choose the "Buy/Sell" function, and enter your trading conditions before submitting the order. A visual guide for this process is provided below:

(Source: uSMART HK)