Shares of Bilibili Inc., a popular video streaming platform in China, plummeted by 9.38% on October 15, 2024, amid a broader sell-off in Chinese stocks traded both domestically and on U.S. exchanges.
The sharp decline in Bilibili's stock price was driven by investor concerns over China's economic growth prospects and the lack of clarity surrounding the government's plans for fiscal stimulus measures. Specifically, the Chinese finance ministry's announcement on Saturday about increasing borrowing, without providing details on the timing or the extent of the stimulus, disappointed investors and fueled uncertainty.
According to a Reuters poll, China's economy is now expected to grow by only 4.8% in 2024, missing the government's target. This gloomy economic outlook, coupled with the absence of concrete details on stimulus measures, prompted investors to step back and reassess their positions in Chinese equities, leading to widespread selling across various sectors.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。