THB
2022-07-15

Shares of major U.S.-listed Chinese companies traded mixed in Hong Kong on Friday, with tech heavyweights like Alibaba Group Holdings, Baidu Inc, JD.com Inc, and Tencent Holdings being a major drag.

Bucking the weakness, electric vehicle stocks gained, with Nio Inc, and Li Auto Inc trading as much as 2%.

Shares of these Chinese companies ended mixed on U.S. bourses on Thursday.

Global Markets Recap: The benchmark Hang Seng Index traded 0.69% lower after paring early losses.

In the U.S., the Dow Jones Industrial Average ended 0.46% lower on Thursday as investors assessed the scope of expected Fed rate hikes and disappointing big bank earnings.

On Friday, Shanghai's SSE Composite Index gained 0.16%, Japan's Nikkei 225 was up 0.50%, while Singapore's SGX Nifty traded mutedly.

Macro Factors: Struggling to shake off the impact of COVID-19 curbs, the Chinese economy grew by a paltry 0.4% — below market expectations — in the second quarter from a year earlier.

However, retail sales recovered in June and rose 3.1% from a prior slump, beating analysts' expectations for no growth from the preceding year. The unemployment rate across China’s 31 largest cities fell from pre-pandemic highs to 5.8% in June.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Sonoma
    2022-07-15
    Sonoma
    Thank you for sharing
  • GH_82
    2022-07-15
    GH_82
    Thanks for sharing
  • Thalos
    2022-07-15
    Thalos
    Focus just a few good counters
  • Kyesu
    2022-07-15
    Kyesu
    Read and thanks
  • 股票小白兔
    2022-07-15
    股票小白兔
    👍
  • ChloeX
    2022-07-15
    ChloeX
    👍
Leave a comment
1