Alibaba, Nio Stocks Drop: Hang Seng Stays Weaker As US Inflation Data, Fed Meet Eyed

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Alibaba, Nio Stocks Drop: Hang Seng Stays Weaker As US Inflation Data, Fed Meet Eyed

Benzinga2022-12-12

ZINGER KEY POINTSShares of Li Auto fell and Xpeng stock lost over 10%.Alibaba shares lost over 2% in morning trade while Nio was down over 5%.Hong Kong stocks opened in the red on Monday, with the ...

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JY1980
·2022-12-12
Hi
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- JY1980:
  Hi
  2022-12-12
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AdelGYS
·2022-12-12
Noted with thanks
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clingling
·2022-12-12
Ok
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- clingling:
  @@
  2022-12-12
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Thomas9413
·2022-12-12
Good
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- Goodmeng:
  👍
  2022-12-12
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AlanChong
·2022-12-12
The Covid cases are raising, more bad signs soon! 🔒⤵️🥱
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Singman
·2022-12-12
Like
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Celia24
·2022-12-12
Ok
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- Thomas9413:
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  2022-12-12
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Alibaba shares lost over 2% in morning trade, while Nio was down over 5%.“Following the very rapid tightening in policy rates this year, we expect the FOMC, ECB and BoE will reduce the magnitude of rate hikes to 50bp but reaffirm that they remain determined to bring inflation back to target and will take the appropriate and the necessary steps,” ANZ Research said in a note.Company News: NIO founder William Li confirmed that the company is set to launch two new models at the NIO Day 2022 event at the end of this month,reportedCnEVPost.China Petroleum & Chemical Corporation known as Sinopec, which is a minority stakeholder of CMES, is in talks to secure newbuilds at Jiangnan and Dalian, reported Reuters.Top Gainers and Losers: Country Garden Services Holdings Company Limited and Longfor Group Holdings Limited were the top losers among Hang Seng constituents, having shed over 11% and 5%, respectively. Hang Lung Properties Limited and Alibaba Health Information Technology Limited were the top gainers, having risen over 4% and 1%, respectively.Global News: U.S. futures traded in the red on Monday morning Asia session. The Dow Jones futures lost 0.07%, while the Nasdaq futures fell 0.18%. The S&P 500 futures were trading lower by 0.16%.Elsewhere in Asia-Pacific, Australia’s ASX 200 was down 0.52%. Japan’s Nikkei 225 traded 0.29% lower while China’s Shanghai Composite index fell 0.41%. 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