In today’s briefing:
- China TMT Update (May.6) – Douyin/PDD/ByteDance/BEKE/NIO: Douyin Launches “Super Cheap Little Shop”
- Mat-Chem Notes : For the Week Ended April 28, 2023
China TMT Update (May.6) – Douyin/PDD/ByteDance/BEKE/NIO: Douyin Launches “Super Cheap Little Shop”
- PDD: Douyin launches “Super Cheap Little Shop” to provide low cost products (-)
- ByteDance/BEKE: ByteDance give up offline housing brokerage business, while online business remains（+）
- NIO: NIO to officially launch all-new ES6 on May 24 (+)
Mat-Chem Notes : For the Week Ended April 28, 2023
- WTR-CMI last week. In what was a mixed week for the market, with S&P 500 appreciating 0.9% and the Russell 2000 slipping 1.3%, our WTR-CMI index of 30 specialty chemicals and materials stocks outperformed both broader indexes by appreciating 1.1%, led by a recovery in prices of lithium stocks, which took a tumble the previous week after the announcement of the Chilean government’s intention to increase its financial participation in large lithium projects in the country.
- Better weather drives stronger planting progress. Following last year’s planting delays caused by unseasonal weather, the 2023 planting season in the US is picking up the pace after a slower start, with both corn and soybean planting well ahead of last year and the five-year average, boding well for North American crop protection and the fertilizer market, at least when it comes to demand.
- Chinese auto sales look to rise. According to the China Automobile Dealers Association, the country should see a 50% surge in Y/Y new passenger vehicle sales in April, following a strong March, compared with the COVID lockdown period a year ago.
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