BUZZ-China ADRs fall as Middle East concerns outweigh signs of recovery

Reuters2023-10-16

** U.S.-listed shares of Chinese companies fall in premarket trading as concerns around the Middle East conflict outweighed signs of a Chinese economic recovery and Beijing's latest measures to shore up investor confidence

** China's blue-chip CSI 300 stock index lost 1% by close

** E-commerce firms Alibaba Group Holding , JD.com Inc and PDD Holdings fall between 0.4% and 1.7%

** Gaming stocks Bilibili Inc slides 1.8% and peer NetEase Inc down 1.7%, while search engine giant Baidu Inc sheds 0.9%

** EV firms Li Auto Inc , Nio Inc and Xpeng Inc slip between 1.4% and 3.6%

** Music streaming co Tencent Music Entertainment Group

and online video platform IQIYI Inc fall 3.5% and 3.1%, respectively

** Social media co Weibo Corp and live streaming platform Huya Inc lose 1.6% and 2.3%, respectively

** Online brokerages Futu Holdings Ltd and UP Fintech Holding Ltd dip 1.0% each

** China ETFs such as China Large-Cap ETF and KraneShares CSI China Internet ETF fall 0.6% and 0.8%, respectively, while Direxion China CSI Daily Bull 2X slides 1.9%

(Reporting by Shashwat Chauhan in Bengaluru)

((Shashwat.Chauhan@thomsonreuters.com;))

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