Alibaba and Nio shares fall: Hang Seng index today

Shares of US-listed Chinese companies were mixed in Hong Kong on Friday morning, with major tech names such as alibaba group holding ltd slime, Tencent Holdings Ltd. TCEHYY Baidu Inc. BIDU trading down.

Challenging the technological trend, Inc. JD traded marginally higher.

Among the stocks of electric vehicles, Xpeng Inc. XPEV Y li car inc LI traded in green, while child inc LITTLE BOY lost 2.50% after paring initial losses.

How US-Listed Chinese Stocks Are Doing Today in Hong Kong
Stocks Movement (+/-)
alibaba -0.54%
Tencent -0.56%
Baidu -3.54%
JD.Com 0.80%
child -2.50%
li car 4.27%
Xpeng 1.99%

Shares of these Chinese companies ended lower Thursday on US stocks.

Summary of global markets: At the time of publication, the benchmark Hang Seng Index It was trading 0.66% lower, paring the week’s gains.

Overnight in the US Dow Jones Industrial Average fell almost 2%.

Elsewhere, Shanghai SSE Composite Index gained 0.22%, while Australia ASX200 lost 0.82% and Japan Nikkei 225 lost 1.41%.

Macro factors: After a Reuters report claimed that Beijing gave an initial go-ahead to revive group of ants As the IPO crackdown eased, China’s regulator stepped in to clear the air, tempering optimism about policy easing in the sector.

the China Securities Regulatory Commission said in a statement that it “has not made any evaluation or investigation” for the possible resumption of the Ant offer.

According to data published by Chinese Bureau of Statisticsits producer inflation in May rose 6.4% from a year earlier, in line with expectations.

company in news: Ant denied reports about its pending IPO plan. the Jack ma-The controlled group said: “Under the guidance of regulators, we are focused on steadily moving forward with our rectification work and have no plans to initiate an initial public offering.”

Meanwhile, Alibaba and the on-demand service platform operator Meituan MPNGY they jointly delivered 92% of China’s antitrust fines in 2021, 52 times more than in 2020.

Nio issued guidance for the second quarter below analyst estimates.

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