BUZZ-China ADRs fall as geopolitical, property market concerns mount

Reuters2023-08-30

** U.S.-listed shares of Chinese companies fall premarket amid geopolitical, property market worries

** American firms say China has become "uninvestible" - U.S. Commerce Secretary Gina Raimondo

** Investors wary ahead of embattled property developer Country Garden's first-half results

** Alibaba Group Holding , JD.com Inc and Pinduoduo Inc fall 1.7%-2.5%

** Bilibili Inc , NetEase Inc down 2.9%,1.2%, respectively; Baidu Inc sheds 1.6%

** EV makers Li Auto Inc , Nio Inc and Xpeng Inc slip 3.9-4.5%

** Tencent Music Entertainment Group , IQIYI Inc

fall 1.7% and 1%, respectively; Weibo Corp loses 1.6%

** Futu Holdings Ltd , UP Fintech Holding Ltd

down 3.5% and 6%, respectively

** IShares MSCI China ETF , China Large-Cap ETF

and KraneShares CSI China Internet ETF down 1.4%-2.6%; Direxion China CSI Daily Bull 2X falls 4.8%

(Reporting by Johann M Cherian in Bengaluru)

((johann.mcherian@thomsonreuters.com;))

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