U.S. stock night market fluctuations: PDD rose 4.35% in the night market, can regulatory investigations and valuation discounts reverse market sentiment?

U.S. Stock Night Market Movements

PDD rose 4.35% in the night market. Based on recent news,

1. On January 21, JP Morgan released a report indicating that PDD is under investigation by Chinese market regulators, which has put pressure on its stock price, causing it to drop about 13% over the past two weeks. JP Morgan maintains a "Neutral" rating on PDD, with a target price of $130.

2. On January 20, Bloomberg reported that after a physical altercation between PDD employees and regulatory personnel, Chinese authorities intensified their investigation into the company, sending over a hundred investigators to PDD's Shanghai headquarters. The investigation covers improper behaviors such as fraudulent shipping and tax issues, leading to a slowdown in marketing activities before the Lunar New Year.

3. On January 19, Goldman Sachs emphasized that investment in Chinese internet companies will shift to an alpha era of selective stocks, with PDD being a key recommended giant stock due to its valuation discount and strong growth of Temu. Competition in the e-commerce industry is intensifying, and regulatory risks are increasing.

Top Stocks by Industry Transaction Volume

Alibaba rose 3.14% in the night market. Based on recent key news:

1. On January 20, an AI startup invested by Alibaba, Dark Side of the Moon, completed a new round of fundraising, raising its valuation to $4.8 billion. This news boosted market confidence in Alibaba, driving its stock price up. Source: CNBC

2. On January 19, Citigroup increased its bullish position in Alibaba to 6.03%. This change in holdings indicates institutional investors' optimism about Alibaba, further supporting the stock price increase. Source: Hong Kong Stock Exchange documents

3. On January 21, Alibaba and China National Nuclear Power established a joint venture in nuclear energy to provide power support for AI data centers. This move is seen as a strategic expansion for Alibaba in the technology and energy sectors, enhancing market expectations for its future growth. Source: Tianyancha AI industry IPO boom, significant capital inflow

Amazon rose 0.35% in the night market. Based on recent key news:

1. On January 21, Amazon CEO Andy Jassy stated that Trump tariffs have begun to drive up product prices. Sellers' pre-purchased inventory has been depleted, and some sellers are choosing to raise prices to pass on costs, affecting consumer shopping habits. Source: Hong Kong Economic Journal

2. On January 20, HSBC reiterated its "Buy" rating on Amazon, with a target price of $300. It is expected that growth in AWS cloud services will drive performance beyond expectations, expanding e-commerce market share. Source: Zhitong Finance

3. On January 21, Amazon plans to open its largest retail store in Chicago, expanding its physical retail business. This move aims to increase market share and meet diverse consumer demands. Source: Zhitong Finance e-commerce market share expansion, strong cloud demand

JD.com rose 1.66% in the night market. Based on recent news:

1. On January 20, JD.com announced the establishment of the JD Art Museum, located in the Shenzhen Bay Super Headquarters Base, expected to open by the end of 2027. This move is seen as a new measure for JD.com in the cultural industry layout, aiming to expand cross-field art experiences and drive stock price growth

2. On January 21, JD Logistics launched a full cargo flight route for beef and lamb, improving the circulation efficiency and freshness guarantee of beef and lamb products in the northwest, enhancing the competitiveness of its logistics business, and stimulating stock price increases.

3. On January 20, JD Hong Kong launched the "Happy Home Plan," which helps public housing families in Hong Kong reduce housing and living costs through multiple subsidies and exclusive services, enhancing market influence and driving stock price increases. Competition in the logistics industry is intensifying, and ecological warfare is becoming a trend