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Nvidia is now worth as much as the entire Chinese stock market

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Nvidia is now worth as much as the entire Chinese stock market

Nvidia Founder, Präsident and CEO Jen-Hsun Huang.

Ethan Miller/Getty Images

Nvidia is now worth as much as the entire Chinese stock market, Bank of America chief investment strategist Michael Hartnett said in a new note.

The company’s market capitalization has reached $1.7 trillion (€1.6 trillion), the same as all Chinese companies listed on the Hong Kong stock exchange.

Nvidia shares are up 239 percent in 2023 and 41 percent in 2024 (as of Thursday).

This is a machine translation of an article from our US colleagues at Business Insider. It was automatically translated and checked by a real editor.

Nvidia has grown at a breathtaking pace, to the point where it has a valuation equal to that of the entire Chinese stock market. In a new Bank of America research note, senior investment strategist Michael Harnett noted that Nvidia’s $600 billion (€550 billion) appreciation in the past two months pushed its market cap to $1.7 trillion (€1.6 trillion). . This corresponds to the value of all Chinese companies listed on the Hong Kong Stock Exchange.

The chipmaker’s market capitalization has almost quadrupled since the beginning of last year. The company’s shares have risen 239 percent through 2023 and have gained 41 percent this year alone through Thursday. Only four listed US companies are worth more.

China’s stocks are on the decline

Meanwhile, China’s economic unease has sent stocks tumbling. Weak economic growth and a prolonged real estate crash have weighed on the market. The country is also struggling with deflation. The Hang Seng index, a benchmark for Chinese stocks listed in Hong Kong, has fallen 26 percent last year and eight percent since the start of the year.

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However, Hartnett noted that there could be an opportunity for investors who can identify Chinese stocks with strong management, good balance sheets and high profits. He points to the precedent of the collapse of Japan’s Nikkei in the early 1990s, in which a select group of 15 companies that had these characteristics experienced a 400 percent bull market.

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