China ADRs slide after local stocks end week at 4-1/2 month low
** U.S.-listed shares of Chinese companies fall premarket
** China stocks closed the week at 4-1/2 month low, weighed by financial and consumer shares, while investors braced for moves from country's central bank that could affect market sentiment
** E-commerce firms Alibaba Group Holding BABA.N, JD.com Inc JD.O and PDD Holdings PDD.O fall between 0.9% and 1.9%
** Gaming stocks Bilibili Inc BILI.O slides 0.6% and peer NetEase Inc NTES.O down 2.5%. Search engine giant Baidu Inc BIDU.O sheds 1.2%
** EV firms Li Auto Inc LI.O, Nio Inc NIO.N and Xpeng Inc XPEV.N slip between 1.4% and 5.2%
** Music streaming co Tencent Music Entertainment Group TME.N and online video platform IQIYI Inc IQ.O fall 1.4% and 2%, respectively
** Online brokerages Futu Holdings Ltd FUTU.O and UP Fintech Holding Ltd TIGR.O dip 1.2% and 0.6%, respectively
** China ETFs such as IShares MSCI China ETF MCHI.O, China Large-Cap ETF FXI.N and KraneShares CSI China Internet ETF KWEB.K fall 0.9%-1.6%, while Direxion China CSI Daily Bull 2X CWEB.K slides 2.9%
Reporting by Roshan Abraham in Bengaluru
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
