Hot Chinese ADRs Turned Down in Premarket Trading; KE Holdings and Bilibili Slid Over 3%

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Hot Chinese ADRs Turned Down in Premarket Trading; KE Holdings and Bilibili Slid Over 3%

Tiger Newspress2023-09-07

Hot Chinese ADRs turned down in premarket trading; KE Holdings Inc. and Bilibili Inc. slid over 3%.

The onshore yuan recently traded near the weakest since 2008, having already depreciated almost 6 percent this year. China has been easing domestic rates to help revive home sales and repair confidence in the property market, while the Federal Reserve has been raising rates from near-zero since March last year.

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