Stock Track | Li Auto Plummets 5.02% as Fading China Stimulus Optimism Weighs on Chinese Stocks

Stock Track12-10

Li Auto, a leading Chinese electric vehicle (EV) manufacturer, experienced a significant plummet in its stock price during the pre-market trading session on Tuesday. The company's shares tumbled 5.02%, as optimism surrounding China's recent stimulus measures faded among investors.

The plunge in Li Auto's stock price can be attributed to the broader sell-off in Chinese stocks listed on U.S. exchanges. Initially, these stocks rallied on Monday, fueled by hopes that China's plans to embrace more aggressive stimulus policies would revive the country's sluggish economic growth. However, the optimism proved short-lived.

China's disappointing trade data, released on Tuesday, dampened market sentiment. The figures revealed an unexpected 3.9% decline in imports during November, the worst drop in 14 months. Additionally, while exports rose 6.7%, this represented a slowdown from the previous month's growth rate. These lackluster trade numbers cast doubt on the effectiveness of Beijing's stimulus efforts, prompting investors to reevaluate their bullish stance on Chinese companies.

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