Niu Technologies (NIU) saw its shares plummet by 5.25% during intraday trading on Tuesday, reflecting broader declines in Chinese ADRs and ETFs. The drop aligns with a waning risk-on mood among investors as fears over China's deepening economic slowdown intensified.
Key economic data for November showed a deceleration across the board, with retail growth weakening to its slowest pace since the Covid-19 pandemic. Fixed-asset investment continued to contract, and the decline in home prices showed no signs of abating. These factors contributed to the sell-off in Chinese stocks, including Niu Technologies.
Investors also remained cautious ahead of the delayed US labor market report for October, which could influence expectations for monetary easing and tech stock valuations. A strong reading might further dampen sentiment toward high-growth stocks like NIU.
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