U.S. stocks pulled up late Friday to close higher across the board, with all three major stock indexes up more than 1%.
As of the close, the Dow rose 453.4 points to 33,072.88 points, or 1.39%; the Nasdaq rose 161.05 points to 13,138.73 points, or 1.24%; the S&P 500 rose 65.02 points to 3,974.54 points, or 1.66%.
In technology stocks, well-known technology stocks in Apple rose 0.51%; Facebook rose 1.54%; Amazon rose 0.19%; Microsoft rose 1.78%; Google fell 0.43%; Nifty rose 1.03%; tesla fell 3.39%.
Nike shares rose 3.38%, H&M rose 1.07%, and Adidas ADR rose 1.06%.
Notably, Education and popular Chinese stocks fell heavily, with Heilongjiang falling 42%, Good Future down more than 7%, New Oriental down more than 11% and Aiki down 13%. Zhihu, which landed on the New York Stock Exchange on Friday, broke open and closed down more than 11%, with a market cap of $4.7 billion, down nearly 30% at one point during the day.
Chinese stocks suffered heavy losses this week, including Vipshop down 30.94%, Tencent Music down 34.12%, Misty Core Technology down 53.08%, with who learned down 54.97%, Aqiyi down 37.23%, Tiger Securities down 30.3%, Blue City down 30.02%.
Education Chinese stocks fell in general
Who’s Who share price was once cut
Education Chinese stocks are in a general decline.
Among them, with the Who’s Who shares have fallen for seven consecutive trading days, Friday once plunged more than 50%, finally closing down 41.56%, seven trading days shares fell 58%, the current market value of about $ 9.9 billion.
Good Future and New Oriental have also recently seen a continuous downward trend, with Good Future’s current market cap at $33.7 billion and New Oriental’s current market cap at $24.4 billion.
Aiki’s market value evaporated nearly $60 billion in 3 trading days
Zhihu broke on its first day of listing
Other Chinese stocks that plunged during Friday’s session were Baidu, Tencent Music, Vipshop, and Aiki.
However, Baidu turned upward after the mid-day plunge and closed up 1.97%, Tencent Music fell less than 2%, Vipshop closed down 2.38%, while Aqiyi was down 13.20%.
It is worth noting that this is the third consecutive trading day that Akiyon has plunged, with shares falling about 40% from Tuesday’s close of $28.91 per share to Friday’s close of $17.43, and the market value evaporating about $9.058 billion (about 59.2 billion yuan) in three trading days, with Akiyon’s current market value at $13.8 billion.
In addition, Zhihu was officially listed on the New York Stock Exchange on Friday under the ticker symbol “ZH.” Zhihu issued 55 million ADS shares (before exercising its over-allotment option) at an issue price of $9.50. However, ZH opened down more than 15% on its first day of trading and fell nearly 30% during the day, closing down more than 10% at $8.50 per share, with a market value of about $4.7 billion.
On March 24, local Time, the U.S. Securities and Exchange Commission (SEC) issued an updated notice that it has adopted the final amendments to the Foreign Company Accountability Act and solicited public comments. The Act requires that foreign issuers that fail to meet the requirements of the Public Company Accounting Oversight Board’s examination of accounting firms for three consecutive years are prohibited from trading in the United States.
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