Hot Chinese ADRs slid in morning trading.
XPeng fell nearly 7%; JD.com, NetEase fell about 4%; Bilibili, Li Auto, Nio fell about 3%; Alibaba, Baidu, PDD Holdings fell over 2%.
The onshore yuan recently traded at 7.2360 against the US dollar, close to its weakest level since November.
China’s exports in March probably fell 1.9 per cent from a year ago, contracting after a 5.6 per cent gain in the previous month, according to a consensus estimate of economists surveyed by Bloomberg. The data is due to be published later on Friday.
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