Chinese ADRs slumped in morning trading Wednesday after a government report on growth in China’s economy trailed market consensus and home prices slipped. Fund managers are trimming their allocations on Chinese companies, with policymakers hobbled by inadequate monetary stimulus. Alibaba fell 2.5%; Pinduoduo fell 2.8%; JD.com fell 5%; Baidu fell 3.8%; NIO fell 5.7%; XPeng fell 7.1%; Li Auto fell 4.8%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments