BUZZ-China ADRs down as local shares post biggest fall in 6 months

Reuters07-23

** U.S.-listed shares of Chinese companies fall premarket

** Chinese stocks recorded their biggest single-day drop in six months, demonstrating the fragility of investor sentiment despite ongoing stimulus efforts

** E-commerce firms Alibaba Group Holding , JD.com Inc and PDD Holdings fall between 0.9% and 1.8%

** Gaming firm Bilibili Inc slides 2.4% and peer NetEase Inc down 2.3%, while search engine giant Baidu Inc sheds 1.8%

** EV firms Li Auto Inc , Nio Inc and Xpeng Inc slip between 1.9% and 2.7%

** Music streaming co Tencent Music Entertainment Group

and online video platform IQIYI Inc fall 1.9% and 2.3%, respectively, while social media co Weibo Corp lose 0.1%

** Online education firms Gaotu Techedu Inc , TAL Education Group and New Oriental Education & Technology Group Inc down 0.3%-2.6%

** Online brokerages Futu Holdings Ltd and UP Fintech Holding Ltd dip 1% and 1.3%, respectively

** China ETFs such as IShares MSCI China ETF , China Large-Cap ETF and KraneShares CSI China Internet ETF

fall 1.2%-1.85%, while Direxion China CSI Daily Bull 2X

slides 3.6%

(Reporting by Roshan Abraham)

((Roshan.abraham@thomsonreuters.com))

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