Nio, XPeng Fall Over 6%, Alibaba Edges Down: Hang Seng Slips As Investors Brace For US Inflation Data

Benzinga2022-08-10

Hong Kong shares opened in the red on Wednesday, with the benchmark Hang Seng Index losing 1.96% as investors turned their eyes toward inflation data from the U.S.

EV shares took a hit, with Nio and Li Auto falling more than 6% in opening trade. Shares of Tesla Inc rival XPeng fell over 6%.

Company News: Nio has started allowing its customers to test drive its new SUV ES7 post locking in orders beginning Aug. 2, according to a report.

Global Markets: U.S. markets ended in the red on Tuesday, with the Nasdaq losing 1.19% on the back of weaker chip stocks. The S&P 500 lost 0.42%, while the Dow Jones Industrial Average shed 0.18%.

On Wednesday, Australia’s ASX 200 lost 0.18%, Japan’s Nikkei 225 fell 0.54%, and the South Korean Kospi shed 0.62%. China’s Shanghai Composite index was down 0.16%.

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Comments

  • Wenikho
    2022-08-10
    Wenikho
    Ok
  • 来人
    2022-08-10
    来人
    Ok
  • MSTAN
    2022-08-10
    MSTAN
    👌👌
  • Guardian_J
    2022-08-10
    Guardian_J
    Woo
  • Kelvinphan
    2022-08-10
    Kelvinphan
    Y
  • Take courage
    2022-08-10
    Take courage
    Current situation looks bad for stock but is a buy opportunity. Monitor closely n don't jump into bandwagon too soon. Do ur homework 1st.
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