Chinese assets continue to rise, with the Nasdaq China Golden Dragon Index rising nearly 24% this week! Buffett sells Bank of America again
Guo Wenjun, reporter from China Fund News
Good morning everyone! Last night and this morning, many big things happened again.
The three major stock indexes in the United States closed with mixed gains and losses, with the Dow Jones Industrial Average reaching a new closing high. The Nasdaq China Golden Dragon Index rose nearly 24% this week! The offshore Chinese yuan has risen for two consecutive weeks. Buffett is selling Bank of America again.
Dow Jones Industrial Average hits new closing high
The three major stock indexes in the United States closed with mixed gains and losses. As of the close, the Dow Jones Industrial Average rose 0.33% to 42313 points, setting a new closing high; The S&P 500 index fell 0.13% to 5738.17 points; The Nasdaq fell 0.39% to 18119.59 points. This week, the Dow Jones Industrial Average rose 0.59%, the S&P 500 index rose 0.62%, and the Nasdaq rose 0.95%.
Chip stocks fell across the board. TSMC fell 4.72%, Broadcom fell 3.03%, Micron Technology fell 2.20%, Nvidia fell 2.17%, and AMD, Qualcomm, and ASML all fell more than 1%.
Gold stocks have shown weak performance. Anglo Gold and Corrdane Mining fell by about 5%, El Lado Gold fell by over 4%, Pan American Silver fell by about 4%, and Barrick Gold and Kinross Gold fell by over 3%.
The Nasdaq China Golden Dragon Index rose nearly 24% this week
Popular Chinese concept stocks have generally risen, with the Nasdaq China Golden Dragon Index up 4% on September 27th and a cumulative increase of 23.94% this week.
Lufax rose 19.01%, leading the component stocks of the Nasdaq China Golden Dragon Index. Alibaba rose 2.16%, JD.com rose 5.09%, and Baidu rose 2.54%.
The new forces in car manufacturing have surged. Extreme Krypton rose 14.95%, NIO rose 12.72%, and Xiaopeng Motors rose 8.91%.
Buffett resells Bank of America again
Buffett's Berkshire Hathaway continues to sell Bank of America stocks.
According to the latest regulatory filing from the US Securities and Exchange Commission (SEC), Buffett's Berkshire Hathaway sold 11.6784 million shares of Bank of America stock from September 25th to 27th, cashing out $461 million.
Since July, Berkshire Hathaway has cumulatively reduced its holdings of approximately $9.413 billion in Bank of America stocks.
After this reduction, Buffett's Berkshire Hathaway's shareholding in Bank of America's circulating shares decreased to 10.46%. According to relevant regulations, if the shareholding ratio exceeds 10%, the transaction must be disclosed within 2 days; If the shareholding ratio does not exceed 10%, there is no need to disclose the trading situation as soon as possible. Usually, it may take several weeks to disclose in each quarterly report.
Offshore RMB rises for two consecutive weeks
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