Tag: Chinese

Posted on

Stellantis CEO Tavares warns of ‘terrible fight’ with Chinese automakers

Stellantis CEO Tavares warns of ‘terrible fight’ with Chinese automakers

LAS VEGAS — Stellantis CEO Carlos Tavares sees the European vehicle industry at a crossroads in competitiveness with its Chinese rivals.

If politicians in Europe do not obtain an respond to to the force into Europe by Chinese automakers, there will be a “horrible fight,” Tavares informed Automobilwoche on the sidelines of CES 2023 in Las Vegas.

Europe’s vehicle industry could be compelled to massively lessen its output capacity in the confront of growing competition from China, Tavares claimed.

Chinese firms are expanding in Europe with competitive and aggressively priced autos, Tavares extra.

“The price variance involving European and Chinese motor vehicles is considerable. If very little is improved in the existing scenario, European prospects from the middle class will increasingly transform to Chinese styles. The buying power of quite a few folks in Europe is lowering noticeably.”

Tavares’s remarks echo these of  Forvia CEO Patrick Koller, who claimed in Las Vegas that European automakers will have to acquire affordable tiny battery-electric powered motor vehicles for urban use.

Europe’s emissions regulatory regime is not helping the region’s automakers, Tavares mentioned.

“Regulation in Europe ensures that electric cars and trucks crafted in Europe are about 40 per cent far more expensive than similar vehicles manufactured in China,” he explained.

If the European Union does not improve the latest scenario, the region’s automobile industry will suffer the similar fate as the European solar panel business, Tavares warned. “I assume we have observed this movie in advance of. It truly is a extremely bleak circumstance. But it isn’t going to have to go that way.”

SAIC’s MG, BYD, Geely’s Zeekr and Nio are amid Chinese automakers focusing on European customers with their electrical cars.

‘Unpopular decisions’

There are two paths the Europeans could consider, Tavares reported.

“If you preserve the European market place open up, then we have no choice: we have to fight the Chinese instantly. And that applies to the whole automotive benefit chain.”

The effects would then be important, he mentioned. “That would inevitably guide to unpopular conclusions.”

Capacities would have to be slash and vegetation would have to be relocated to extra favorable locations.

An additional possibility, Tavares stated, is to “re-industrialize” Europe, to provide back misplaced industries and generation chains. 

“If you want that, on the other hand, there is nevertheless a large amount to do in the EU, then you would have to have a different trade plan.”

German industry in specific would not be enthusiastic about a trade coverage placing boundaries on China due to the fact it would massively have an impact on European things to do in China, Tavares mentioned.

“Eventually, this challenge is akin to squaring the circle. In the recent context, if absolutely nothing is done in the European Union, there will be a horrible battle,” he mentioned.

Posted on

A Chinese man called “Ma” was detained. The news wiped $26 billion off Alibaba’s stock

A Chinese man called “Ma” was detained. The news wiped $26 billion off Alibaba’s stock

Alibaba, the Chinese e-commerce large Ma co-founded, noticed its Hong Kong-detailed shares plunge as a lot as 9.4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Tuesday after Chinese point out media described that an person surnamed “Ma” in the city of Hangzhou — where by Alibaba is dependent — had been detained on countrywide security grounds.

According to China’s condition broadcaster CCTV, the suspect was placed underneath “obligatory measures” on April 25 on suspicion of “colluding with overseas anti-China hostile forces” to “incite secession” and “incite subversion of point out electric power.”

The one particular-sentence report, which was quickly picked up by other state media outlets and alerted across Chinese news platforms, induced worry providing in Hong Kong, erasing an believed $26 billion from Alibaba’s industry value inside minutes.

Amid the frenzy, Hu Xijin, the previous editor-in-main of the state-owned nationalist tabloid the World wide Occasions, rushed to make clear on China’s Twitter-like Weibo that the report was misleading simply because the title of the suspect in query has 3 characters. Jack Ma’s Chinese title, Ma Yun, has only two figures. (CCTV later on quietly current its first report to match Hu’s assessment).

To more dispel concerns, the Worldwide Times reported the accused guy was born in 1985 in Wenzhou (whilst Jack Ma was born in 1964 in Hangzhou) and worked as the director of components research and progress at an IT company.

The clarifications led to a rebound, with Alibaba recovering the greater part of its losses by the day’s close.

The market’s roller coaster reaction is the most recent indicator of just how skittish buyers are receiving around China’s embattled tech sector, which has been a focus on of the Chinese government’s large-handed regulatory crackdown because late 2020.

Even with latest signals from the Chinese federal government it is making ready to rollback the campaign due to the financial affect, as very first noted by the Wall Street Journal, the market frenzy on Tuesday indicates investor self confidence stays shaky.

“I assumed this was sort of an odd episode,” reported Victor Shih, a political science professor at the College of California San Diego. “Whether or not that was a warning of kinds to the technology sector as a complete, or maybe Jack Ma individually. Who is aware of? But it is really surely demonstrated the authorities does not even have to arrest a senior technological know-how government to erase tens of billions of bucks from a firm’s current market valuation. It just requires to launch some kind of data,” Shih extra.

“Which is pretty powerful. And definitely what happened yesterday was a apparent illustration of that electricity, whether it was sent or not.”

Jack Ma, founder of Alibaba, in Paris in 2019.

But the truth investors ended up so swift to believe Jack Ma, the moment China’s most superior-profile billionaire, would slide afoul of condition security authorities reveals something of the political actuality several Chinese tycoons now reside in.

“It will not seriously make a difference any more if it is really genuinely him. The crucial issue is: a whole lot of men and women feel it truly is him, a ton of people today count on it to be him, now that is intriguing,” said a preferred comment on Weibo, which drew 57,000 likes.

The convert in public sentiment towards Ma is pretty much as amazing as his rags to riches story. Till about a few yrs in the past, the English teacher-turned billionaire was extensively worshiped for his charisma, outspokenness and self-manufactured results. (He was even nicknamed “Daddy Ma” by some fans).

But as tech businesses like Alibaba expanded their businesses empires, they’ve grow to be the goal of escalating annoyance and resentment amongst youthful Chinese employees who are fed up with gruelingly extended get the job done several hours, significant tension and stagnant shell out. (Jack Ma’s endorsement of China’s so-called “996” do the job lifestyle, indicating doing the job from 9 a.m. to 9 p.m. six times a week, drew rigorous criticism in 2019.)

As tech giants fell under the crosshairs of the Chinese government, “evil capitalists” have been ever more blamed for many social ills, from relentless level of competition, skyrocketing property rates to absence of social mobility.

“In just a several many years, ‘Daddy Ma’ has been labeled as a ‘rotten capitalist’ in public opinion, and quite a few people today are looking forward to Ma’s downfall,” Xiang Dongliang, a blogger, wrote on WeChat.

“But the problem is, will bringing down capitalists and driving out (so-known as) international forces truly make everyone’s everyday living far better?”

Jack Ma has primarily light from public life and kept a small profile due to the fact Ant Group’s IPO in the US was halted by regulators in late 2020. As soon as among the the most outspoken figures in China, he hasn’t posted anything at all on Weibo, where by he has almost 25 million followers, given that Oct 2020.

His past Weibo put up, about a meeting with some 100 faculty principals to examine the foreseeable future of China’s training, was flooded with critical responses.

“I will not be astonished if aged Ma is jailed a person working day,” the major remark reported. “You might be just a capitalist! You should not faux to be a excellent particular person!” yet another remark screamed.

Jack Ma remained silent through Tuesday, as rumors from him swirled on the Chinese online. Hashtags about the detention of the suspect surnamed Ma ended up amid the best trending subject areas on Weibo, drawing hundreds of thousands and thousands of sights.

“He has only silence, which is a ‘special way of existing’,” Zhang Feng, a columnist, wrote in a widely shared WeChat posting following the incident.

“This type of silence is of profound importance. For a general public figure, his speech itself is an ‘extension’ of his existence. When a individual no for a longer time speaks up, though he is still alive, however executing things, at the very least component of him has ‘vanished’.”

Posted on

Pronounce, the Chinese fashion label subverting masculine stereotypes

Pronounce, the Chinese fashion label subverting masculine stereotypes

Published by Oscar Holland, CNN

The topic of masculinity — and perceived threats to it — appears to be ever more sensitive in today’s China. The country’s state broadcaster has moved to ban exhibits portraying “effeminate styles,” education and learning officers have proposed approaches to overcome “feminization” in universities and condition media has decried the “sickly aesthetics” that propel younger “gender-ambiguous” adult men to stardom.

For the co-founders of menswear label Pronounce, whose androgynous collections defy categorization, the headlines belie an rising actuality among the country’s youth. In point, Chinese-born Yushan Li and Jun Zhou see a “disconnect” between official attitudes and what’s taking place at ground amount.

“The ambiance on the online has come to be a lot more and extra conservative,” Li mentioned over the cellular phone from Shenzhen. “But we’ve been back again residing in China given that (the begin of) Covid-19, connecting with a large amount of younger people today, and it is just a actually gender-fluid technology. Persons are heading to take it inevitably.

“When I was young, equivalent conversations have been also occurring,” he included. “Masculinity and the plan that boys need to have to be males — these subject areas have always existed in our Asian lifestyle.”

Though considered a menswear label, Pronounce often shows its gender-neutral designs on female models.

Even though deemed a menswear label, Pronounce usually displays its gender-neutral layouts on woman models. Credit score: Courtesy of Pronounce

Pronounce may well be greatly considered a men’s brand name — even starting to be, in 2019, the to start with Chinese label to phase a runway display at Italy’s most prestigious menswear occasion, Pitti Uomo — but the pair would not design and style with a particular demographic in thoughts. Alternatively both equally male and feminine products are used to showcase their loose-fitting nonetheless structural creations, which have been produced to be worn by any one “who is curious, who loves new and desirable stuff, who wishes to be confident,” Li claimed.

Bridging worlds

As perfectly as its progressive angle to gender, Pronounce’s attractiveness in Europe attracts from its founders’ means to bridge the aesthetic divide involving East and West.

Having both of those researched in London right before launching Pronounce in 2016, Zhou and Li headquartered their label concerning Shanghai and — before the pandemic struck — Milan. With Zhou drawn to Italian tailoring heritage and Li a lot more targeted on Asian crafting (“that is why we have a great deal of arguments,” the latter joked, “but we obtain a balance at the close of the working day”), the pair have recognized a reputation for incorporating Chinese influences into their work.

The famous Terracotta Warriors are among the Chinese themes that Li and Zhou have incorporated into their designs.

The well-known Terracotta Warriors are amid the Chinese themes that Li and Zhou have included into their types. Credit rating: Courtesy of Pronounce

Their Spring-Summer time 2020 collection, for instance, noticed visuals of the country’s legendary Terracotta Warriors printed on outsized turtlenecks and huge-legged jeans. But nods to their homeland are usually subtler and expressed via shapes, patterns or elements, from woven bamboo vests to modern-day iterations of the “Mao suits” greatly worn in China immediately after the country’s communist revolution in the late 1940s.

In their layouts, the duo has played with the proportions, strains and sleeve lengths of Mao suits for successive collections. Variations have come in pink with enlarged collars or embroidered with sensitive gold thread. Other interpretations of the tunic saw Li and Zhou use fishnet fabric to expose models’ skin, or cinch the clothes at the waist just before buttoning them up with butterfly-shaped fasteners.

“We are truly obsessed with Mao satisfies,” Li stated. “We believe individuals who dress in them seem really handsome, really charming — the silhouette, the emotion when they are worn, the seriously positive electricity.”

A contemporary take on the "Mao suits" widely worn in China after the communist revolution.

A up to date consider on the “Mao fits” widely worn in China following the communist revolution. Credit history: Courtesy of Pronounce

Pronounce’s newest assortment, unveiled digitally at London Fashion 7 days in February, epitomizes this method. In a blur of weighty woolen overcoats, shaggy knee-large boots and animal-horn add-ons, seems to be influenced by Mongolian and Tibetan cultures flashed on monitor from a backdrop of vibrant patterned rugs.

Dubbed “Modern Nomads,” the venture was informed by the robes and outerwear discovered on the Tibetan plateau, and the pair’s vacation to Interior Mongolia, exactly where most of China’s ethnic Mongol minority live (going to Mongolia by itself, or Tibet, was ruled out because of to pandemic-period vacation constraints, Li said). Following spending time with the region’s nomadic communities and buying regional textiles for reference, the designers put their personal spin on rugged, textured garments built to weather conditions hard problems.

An overcoat from the label's new collection, "Modern Nomads."

An overcoat from the label’s new assortment, “Modern Nomads.” Credit score: Courtesy of Pronounce

By reinterpreting what they observed in a gender-neutral model, the label’s founders hoped to perform on Chinese stereotypes that connection nomadic cultures with commonly masculine traits.

“The gentlemen are super sturdy, tremendous challenging,” Li claimed. “But we uncovered that the Mongolian lady are truly rough as very well. Even participating in with the tiny little ones, we saw they experienced started out (increasing animals) and making properties. It can be beyond gender, over and above technology — it really is section of their DNA. For those people of us who are living in metropolitan areas, it is really so different, and they experienced this kind of a big affect on us.”

Averting cliche

In spanning visual languages, Pronounce’s challenge is, partly, obtaining Asian motifs that are familiar sufficient to resonate with world wide audiences devoid of veering into stereotypes.

“This is a matter we talked about from the starting of our brand name,” Li stated. “How to get rid of cliche, or to have our own (get) on all those seriously renowned styles.”

For this cause, he added, the manufacturer has steered very clear of typical clothes like the qipao, the kind-fitting dress greatly affiliated with China in the Western creativity. “We could not find a answer and you should not have (a one of a kind interpretation) of that fashion nonetheless,” Li stated, “so we haven’t touched it.”

Pronounce's recent collaboration with Puma was inspired by the ancient Pumapunku temple complex in Bolivia.

Pronounce’s current collaboration with Puma was encouraged by the historic Pumapunku temple advanced in Bolivia. Credit: Puma

Nor does the model want to pigeonhole itself, as Li and Zhou look beyond China for inspiration. Pronounce’s Spring-Summer months 2019 selection, for occasion, was based on the pair’s excursion to flower marketplaces in India, while a current collaboration with Puma seemed to the historic Pumapunku temple complicated in Bolivia.

“It really is not like, ‘We are Chinese designers, so we have to do this form of type,'” Li claimed. “It is really more that we have really solid inner thoughts about some thing, and then we have that arrive out.”

Posted on

Chinese official calls sanctions on Russia increasingly ‘outrageous’

Chinese official calls sanctions on Russia increasingly ‘outrageous’

Standard Electrical CEO Larry Culp discusses how the enterprise has pivoted amid the war on Ukraine, inflation and the pandemic in a broad-ranging interview on ‘Barron’s Roundtable.’

A senior Chinese government official mentioned on Saturday that sanctions imposed by Western nations on Russia about Ukraine are more and more “outrageous”.

Vice International Minister Le Yucheng also acknowledged Moscow’s place of perspective on NATO, expressing the alliance really should not even more grow eastwards, forcing a nuclear power like Russia “into a corner”.

Chinese Vice Minister of Foreign Affairs Le Yucheng attends the Universal Periodic Assessment of China ahead of the United Nations (UN) Human Rights Council on November 6, 2018 in Geneva. (Fabrice Coffrini/AFP via Getty Images )

China has nonetheless to condemn Russia’s motion in Ukraine or connect with it an invasion, though it has expressed deep problem about the war. Beijing has also opposed economic sanctions on Russia about Ukraine, which it states are unilateral and are not authorised by the U.N. Stability Council.

“The sanctions versus Russia are acquiring far more and more outrageous,” Le said at protection discussion board in Beijing, incorporating that Russian citizens were currently being deprived of overseas property “for no cause”.

“Heritage has verified time and all over again that sanctions are unable to address problems. Sanctions will only harm standard people today, effect the economic and monetary process… and worsen the international economic climate.”

Russia phone calls its steps in Ukraine a “specific procedure” that it suggests is not created to occupy territory but to demolish its neighbour’s armed forces abilities and capture what it regards as risky nationalists.

Russian President Vladimir Putin shakes palms with his Chinese counterpart Xi Jinping at the Kremlin in Moscow, Russia, June 5, 2019. ( Reuters/Evgenia Novozhenina/Pool / Reuters Photos)

Chinese President Xi Jinping speaks with Russian President Vladimir Putin via a online video link, from the Good Corridor of the People on December 2, 2019 in Beijing, China.  (Noel Celis – Pool/Getty Images / Getty Photos)

In a phone on Friday amongst Joe Biden and Xi Jinping, the U.S. president warned his Chinese counterpart of “penalties” if Beijing gave materials aid to Russia’s assault, the White Dwelling said. 

Moscow has demanded lawfully binding ensures from NATO that it will quit its enlargement and return to its 1997 borders.

“This pursuit of complete protection (by NATO) precisely prospects to absolute non-protection,” Le stated. “The effects of forcing a big energy, especially a nuclear electric power, into a corner are even far more unimaginable.”

President Volodymyr Zelenskiy mentioned this week that Ukraine could accept worldwide stability ensures that stopped quick of its longstanding goal to be a part of NATO.

Posted on

Dow Jones Rallies As Tesla Surges 10{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} On Deliveries; Chinese EV Stocks Mixed

The Dow Jones Industrial Average briefly rallied 125 points Monday, as the stock market rally looked to kick off 2022 on a positive note. Tesla stock surged 10{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} on blowout deliveries. Chinese EV leaders Li Auto, Nio and Xpeng Motors also reported strong deliveries over the weekend.




X



Among the Dow Jones leaders, Apple (AAPL) rose 1.7{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday, while Microsoft (MSFT) moved down 0.4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} in today’s stock market. Also among the Dow 30, Home Depot (HD) continues to rebound from support, while Nike (NKE) aimed to retake a key level.

Electric-vehicle leader Tesla (TSLA) traded up 10{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday. Its rival, Rivian (RIVN), was down over 2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. Lucid Group (LCID) climbed around 2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. And Chinese EV leaders Li Auto (LI), Nio (NIO) and Xpeng Motors (XPEV) were sharply mixed Monday morning after their December sales reports over the weekend.

Among Monday’s top stocks to buy and watch, Applied Materials (AMAT), Datadog (DDOG), Fortinet (FTNT), Huntsman (HUN) and Icon (ICLR) are in or near new buy zones.

Icon, Microsoft and Tesla are IBD Leaderboard stocks. Datadog is an IPO Leader. Fortinet was featured in last week’s Stocks Near A Buy Zone column. Applied Materials is an IBD SwingTrader stocks. Huntsman was Wednesday’s IBD Stock Of The Day.

Dow Jones Today

After the stock market open Monday, the Dow Jones Industrial Average rose 0.15{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, while S&P 500 moved up 0.2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. The Nasdaq rose 0.4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} in morning trade.

Among exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) gained 0.1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday, while the SPDR S&P 500 ETF (SPY) traded up 0.1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. Chip stocks were strong performers Monday morning, and the iShares Semiconductor ETF (SOXX) rose 1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. Chip giant Taiwan Semiconductor (TSM) rose about 4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday.

Elsewhere, the 10-year Treasury yield ticked up to near 1.59{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday morning, following a fall to near 1.51{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday.

Benchmarks in Frankfurt and Paris rose more than 1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} near midday in light, post-holiday trade. Markets in London, Tokyo and Shanghai remained closed on holiday.

Stock Market ETF Strategy And How To Invest

Stock Market Rally

The stock market closed out 2021 with mild, weak action on Friday. That extended the tech-heavy Nasdaq composite’s losing streak to four sessions. The Dow Jones Industrial Average and S&P 500 fell for a second straight day.

Despite the weakness, the market outlook remains in a “confirmed uptrend.” This gives investors a green light to buy top-rated growth stocks breaking out past correct buy points.

Friday’s The Big Picture commented: “Investors should show prudence going into the new year, but there is reason for optimism. History shows that when the S&P 500 gains 20{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} or more in a calendar year it averages a gain of 7.7{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} the next, according to Dow Jones market data. In addition, the median return in the following year is a gain of 10.2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}.”

For daily stock market commentary, check out IBD’s The Big Picture.

IBD’s 2022 Stock Market Forecast

Dow Jones Stocks To Watch: Home Depot, Nike

Home Depot stock advanced 1.2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday, nearing a record high. Home Depot was the No.1 Dow Jones performer in 2021, up 56.2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} for the year. (The No. 2 Dow Jones stock was Microsoft with a 51.2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} advance.) HD shares were up 0.1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday.

Dow Jones retail leader Nike is tracing a new flat base that has a buy point at 179.20, according to IBD MarketSmith chart analysis. Shares fell further below their 50-day line during Friday’s 0.5{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} decline, as they fight to decisively move above that resistance. Nike shares gained 0.4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday.

Four Top Growth Stocks To Watch In The Current Stock Market Rally

Stocks To Buy And Watch: Applied Materials, Datadog, Fortinet

IBD SwingTrader stock Applied Materials retreated back below a 159.10 buy point in a flat base during Friday’s 0.4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} loss. The initial breakout occurred in weak volume, but remains in play. Look for a volume increase of at least 40{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} if and when the stock retakes its buy point.  The 5{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} buy area runs up to 167.06. Applied shares were up 1.1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday.

IPO Leader Datadog is approaching a cup base’s 199.78 buy point. Meanwhile, resistance around the 186 price level could provide an early entry for aggressive investors. Shares lost 0.5{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday, as they pull back to their key 50-day moving average. DDOG shares gained 1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday.

Cybersecurity leader Fortinet remains in the 5{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} buy area above a 355.45 buy point in a consolidation despite Friday’s 0.1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} loss. The buy area tops out at 373.22. Bullishly, the stock’s relative strength line hit a new high on the breakout day, confirming the stock as a market leader. The RS line measures a stock’s price performance vs. the S&P 500. Fortinet shares were up 0.3{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday.

IBD Leaderboard stock Icon is still in buy range past a 301.82 buy point in a consolidation, according to IBD MarketSmith chart analysis, in the wake of the Dec. 22 breakout move. The 5{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} buy area runs to 316.91. Per Leaderboard commentary, Icon also cleared resistance around 290, which served as an early entry. The stock was up 0.3{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} early Monday.

Wednesday’s IBD Stock Of The Day, Huntsman, remains in buy range past a 34.57 flat-base entry following Friday’s 0.35{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} gain. The 5{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} buy range goes up to 36.30. HUN stock shows an 89 out of a perfect 99 IBD Composite Rating, according to the IBD Stock Checkup. Huntsman stock rose 1.4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday.

Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live

EV Stocks: Li Auto, Nio, Xpeng, Lucid Motors, Rivian

Over the weekend, Chinese EV leaders Li Auto, Nio and Xpeng Motors reported their December deliveries.

Li Auto delivered 14,087 Li One hybrid SUVs in December, up 130{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year over year. Q4 deliveries reached 35,221, above its 30,000-32,000 target and Q3’s 25,116. The stock dropped nearly 1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday.

LI stock continues to work on a new base, after triggering the 7{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}-8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} loss-cutting sell rule below a cup-with-handle base’s 34.93 buy point in early December. Shares surged above their 50-day moving average last week, which is bullish price action as the stock looks to build the right side of a new base.

Nio delivered 10,489 vehicles, up 49.7{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year over year, but down slightly from November’s 10,878. NIO stock rose about 2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday. Shares closed Friday about 53{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} off their 52-week high and sharply below their 50- and 200-day moving averages.

Xpeng deliveries surged 181{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} to 16,000 vehicles last month, a new record after November’s 15,613. Shares moved down over 2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday.

XPEV stock activated a round-trip sell signal from a 48.08 buy point during early December’s sharp sell-off. Xpeng shares surpassed resistance around the key 50-day moving average Thursday, jumping 10{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. There is no valid buy point yet, but Thursday’s action was a step in the right direction.

Among U.S.-based EV stocks, Lucid Motors shares climbed around 2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday, looking to recover from Friday’s 1.8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} decline. LCID stock remains extended past a 28.49 buy point in a cup-with-handle base, but huge gains have faded. Shares are setting up for another try to retake the 50-day line, which would be a positive for the stock’s consolidation.

Recent initial public offering Rivian was down over 2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday, on pace to add to Friday’s 0.3{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} gain. RIVN shares closed Friday about 42{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} off their post-IPO highs. Continue to wait for an IPO base to form before considering a purchase. Recent sharp losses are a significant setback in the stock’s basing process and there is no new buy point in sight.

Five Best Dow Jones Stocks To Watch Now

Tesla Stock

Tesla stock surged 10{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday, looking to snap a four-day losing streak. On Sunday, Tesla deliveries totaled 308,600 deliveries in Q4. That included 296,850 Model 3 and Y vehicles and 11,750 Model S and X luxury EVs. For the full year, Tesla said annual vehicle deliveries surged 97{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} in 2021, delivering 936,172 vehicles.

Early Monday, Tesla shares rose above 1,119.10 buy point. The buy point is based on a combination of factors — the stock is rebounding from 50-day support and cutting back above a downward sloping trendline. The 10{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} buy area will top out at 1,162.46.

There is also an alternative buy point, based on a short handle, at 1,119.10. That buy zone extends to 1,175,06.

Shares traded as high as 1,243.49 on Nov. 4, but the stock ended Friday about 15{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} off its 52-week high.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones stocks, Apple stock ended Friday down 0.35{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, but remains about 16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} above a 153.27 buy point out of a cup-with-handle base, according to IBD MarketSmith chart analysis, and close to the 20{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}-25{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} profit-taking level. AAPL shares rose 1.7{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday.

Software leader Microsoft decisively regained its 50-day line in recent weeks, as the top Dow Jones stock approaches a flat base’s 349.77 buy point with an early entry at 343.89. Shares moved down 0.4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Monday, adding to Friday’s 0.6{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} decline.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.

YOU MAY ALSO LIKE:

Top Growth Stocks To Buy And Watch

Learn How To Time The Market With IBD’s ETF Market Strategy

Find The Best Long-Term Investments With IBD Long-Term Leaders

MarketSmith: Research, Charts, Data And Coaching All In One Place

How To Research Growth Stocks: Why This IBD Tool Simplifies The Search For Top Stocks

Posted on

Chinese fashion photographer in Dior controversy apologizes

BEIJING (AP) — A renowned Chinese fashion photographer has apologized for her past work after online critics called it insulting to the Chinese people and fashion house Dior removed one of her photos from a show in Shanghai.

Chen Man acknowledged the criticism of her earlier work, including “Young Pioneers,” a series of images of a young model with backdrops of major landmarks such as China’s massive Three Gorges Dam or with an image of the country’s first lunar orbiter flying out from under her dress.

The criticism was reported by the state-owned Global Times newspaper, which said that comments on social media had called her work “implicit child pornography and insulting the young pioneers,” the name of a Communist Party-affiliated youth organization.

“I have reflected deeply and blamed myself for my naivety and ignorance at the time. I think that I must still formally apologize to everyone,” Chen wrote this week on her social media account.

“I’m a Chinese person, born and raised, I deeply love my motherland,” she wrote. “And I know, deeply, that as an artist, I have a responsibility to the mission to record and spread the Chinese people’s culture.”

She joins numerous Chinese and foreign celebrities, brands and artists who have made public apologies following criticism of their work in state media. Some have been boycotted for refusing to apologize or if the apology is deemed insufficient.

Chen’s apology came more than a week after Dior was attacked over the photo at its exhibition in Shanghai, which pictured a model of Asian descent with tan, freckled skin and darkened eyelids holding a Dior purse.

Critics deemed the photograph contrary to East Asian beauty standards of fair skin and said it perpetuated Western stereotypes of Asian faces, such as slanted eyes.

At least one photo editor has praised her work in the past for creating an aesthetic that was neither aping Western magazines or Japanese and South Korean ones. And in 2019, the Global Times described Chen as China’s answer to U.S. photographer Annie Leibovitz, calling her a “shining star” with a unique perspective.

Dior removed the photograph, adding that it was part of an art project and not an advertisement. In a statement on its Chinese social media account, Dior said it “respects the feelings of Chinese people” and “strictly abides by Chinese laws and regulations.”

Other luxury brands have previously been embroiled in controversies in China. In 2018, a Dolce & Gabbana advertisement sparked public outrage after the Asian model in the ad was instructed to eat spaghetti, cannolis and pizza with a pair of chopsticks. The videos were later removed.

Chen’s social media post said she accepted criticism of her work including that for a certain brand, but didn’t specify Dior.

The photograph taken down from the Shanghai exhibit was shot in a similar style to a series of covers Chen did for British fashion magazine i-D that featured 12 young Chinese women from different ethnic minorities. Many of the women did not fit what has become a common definition of beauty in China — some had small eyes and others had freckles.

Ding Yining, a photo editor at Sixth Tone, praised Chen’s work in a 2018 article for the state-backed English-language features website.

“From her works, it would seem that Chen prefers female models with narrow, single-lidded eyes and a sense of traditional East Asian elegance,” Ding wrote.

Chen told Sixth Tone that “as a professional visual artist, I believe that I should help more people recognize the face of modern Chinese beauty with greater confidence.”

The Associated Press