Zhong Guo Ji Jin Bao·2025-08-29 16:31Group 1 - Chinese concept stocks surged, with Alibaba's stock price rising over 11% [2][4] - Alibaba's significant profit increase of 76% year-on-year, reaching 42.382 billion yuan, exceeded market expectations [5] - The development of a new AI chip by Alibaba, which is expected to fill the gap left by NVIDIA's challenges in the Chinese market [6] Group 2 - The Nasdaq index fell over 1%, contrasting with the rise in Chinese concept stocks, influenced by the news regarding Alibaba's chip [2][6] - The core Personal Consumption Expenditures (PCE) price index rose by 2.9% in July, matching expectations but accelerating from the previous month [6] - Consumer sentiment weakened in August, with the core consumer confidence index dropping to 58.2, a decrease of 5.7% from July and 14.3% year-on-year [7][8]