This Week: Trump's Win Triggers Market Turmoil In China Ahead Of Earnings -

This Week: Trump’s Win Triggers Market Turmoil In China Ahead Of Earnings

Nov 11, 2024Jeremy ParkinsonFinance0

Trump’s win sparks fears of tariffs

Beijing’s lack of greater support disappoints investors

Tencent earnings on Nov 13 may impact stock movement

JD.com, NetEase, Geely report on Nov 14, key indicators

Alibaba’s earnings on Nov 15 expected to show weakness

The CHINAH along with CN50, and HK50 were left reeling from last week’s double whammy.First, President Trump’s election win triggered declines amid fears of incoming tariffs.Despite Thursday’s rebound, they fell again Friday after Beijing disappointed hopes for greater imminent economic support.

Focus turns back to company earnings for major companies such as Tencent, Alibaba, and JD.com.

If their financial results can punch past the gloom, that could help these indexes stay above their respective 21-day SMAs, at least temporarily.Bulls will also be hoping that the November 11th Singles Day sales can give these companies a boost to start off the week, helping the indices rise in tandem.
Events Watchlist:

Wednesday, November 13th: Tencent earnings (before US markets open)

Tencent’s stocks, listed in Hong Kong and the US, are expected to move by 5% either up or down after this earnings release.Though Tencent’s video game segment should offset weakness in its fintech and advertising businesses, this stock is unlikely to be immune from the potentially darkening clouds over the Chinese economy.

Thursday, November 14th: Earnings from JD.com, NetEase, Geely (before US markets open)

These 3 stocks have a combined market cap of about US$135 billion and are all members of the CHINAH stock index.When US markets open on November 14th, after their respective results, these stocks are forecasted to move anywhere between 3% – 10%, either up or down.From e-commerce, to automotives, and even gaming, their respective results are likely to serve as a barometer of the health of the world’s second largest economy.

Friday, November 155th: Alibaba earnings (before US markets open)

Alibaba’s stocks, listed in Hong Kong and the US, are expected to move by 6.3% either up or down after this earnings release.Though it’s hoped that government measures to boost Singles Day sales could help Alibaba’s fortunes, this e-commerce giant is still expected to post lacklustre Q3 figures amid slowing consumption.Here’s a comprehensive list of other key economic data and events due this week:Monday, November 11

JPY: Bank of Japan meeting minutes

Tuesday, November 12

AUD: Australia November consumer confidence

GER40 index: Germany November ZEW survey; October CPI (final)

GBP: UK September unemployment; October jobless claims

USDInd: Speeches by Fed Governor Christopher Waller, Richmond Fed President Tom Barkin, Philadelphia Fed President Patrick Harker

Wednesday, November 13

JP225 index: Japan October PPI

EU50 index: Eurozone September industrial production

US500 index: US October CPI

USDInd: Speeches by Kansas City Fed President Jeffrey Schmid, Dallas Fed President Lorie Logan, St. Louis Fed President Alberto Musalem

Tencent earnings