BUZZ-China ADRs fall after recent stimulus-driven rally-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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BUZZ-China ADRs fall after recent stimulus-driven rally

Reuters10-03

** U.S.-listed shares of Chinese firms fall premarket, mirroring movement in Hong Kong stocks

** Hong Kong shares fell on Thursday after taking a pause from a rally fueled by fresh stimulus by China

** Stimulus measures were introduced to lend a boost to Chinese economy and benefited domestic stocks as well as their U.S.-listed counterparts

** E-commerce firms fall: JD.com , Alibaba Group Holding and PDD Holdings decline between 2.9% to 3.2%

** Gaming stock Bilibili drops 6.2%, while social media co Weibo slips 5,5% and Tencent Music Entertainment Group falls 4.3%

** Online brokerages Futu Holdings and UP Fintech Holding down 2.9% and 6.1%, respectively

** Online education firm Gaotu Techedu down 4.7%, online video platform iQIYI down 4.4%, whereas EV firm Nio and down 4.6%

** iShares MSCI China ETF down 2.6% but has gained ~32.4% in last two weeks

** Other Chinese ETFs such as KraneShares CSI China ETF

down 3.6% and iShares China Large-Cap ETF down 2.3%

(Reporting by Nikhil Sharma in Bengaluru)

((Nikhil.Sharma@thomsonreuters.com;))

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