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Hot Chinese ADRs Slid in Morning Trading, With XPeng Dropping over 7%

Hot Chinese ADRs slid in premarket trading.XPeng dropping over 4%; Li Auto, JD.com fell about 2%; Tencent Music, Alibaba, iQiyi, PDD Holdings fell over 1%.Investors have shifted their focus back to corporate earnings after digesting positive factors like China’s market support measures and Thursday’s Fed decision. Weak earnings risk derailing the rebound in Chinese ADRs.$Li Auto$ on Thursday revised down its delivery outlook for 1Q24, citing lower-than-expected order intake.The electric vehicle

Hot Chinese ADRs Slid in Morning Trading, With XPeng Dropping over 7%

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Weak earnings risk derailing the rebound in Chinese ADRs.$Li Auto$ on Thursday revised down its delivery outlook for 1Q24, citing lower-than-expected order intake.The electric vehicle ","content":"<html><head></head><body><p>Hot Chinese ADRs slid in morning trading.</p><p>XPeng fell over 7%; Tencent Music fell over 3%; Alibaba, Nio, Li Auto, JD.com fell about 2%; Bilibili, NetEase fell about 1%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/5b70674c27bac8d53b392d45858aa105\" tg-width=\"445\" tg-height=\"589\"/></p><p>Investors have shifted their focus back to corporate earnings after digesting positive factors like China’s market support measures and Thursday’s Fed decision. 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Weak earnings risk derailing the rebound in Chinese ADRs.</p><p><strong><a href=\"https://laohu8.com/S/LI\">Li Auto</a></strong> on Thursday revised down its delivery outlook for 1Q24, citing lower-than-expected order intake.</p><p>The electric vehicle manufacturer now anticipates delivering between 76,000 and 78,000 vehicles, a significant reduction from the initial estimate of 100,000 to 103,000 vehicles. Li Auto’s U.S.-listed shares fell over 8% in morning trading.</p><p><strong><a href=\"https://laohu8.com/S/BABA\">Alibaba Group</a></strong> has raised $357.8 million by selling <strong><a href=\"https://laohu8.com/S/BILI\">Bilibili</a></strong>&#39;s shares, Bloomberg reported Thursday, citing people familiar with the matter.</p><p style=\"text-align: left;\">According to the report, the company priced the sale of 30.85 million shares at $11.60 each. It had earlier marketed the shares in an $11.60 to $12.28 range.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","LI":"理想汽车","XPEV":"小鹏汽车","IQ":"爱奇艺","JD":"京东","TME":"腾讯音乐"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106494473","content_text":"Hot Chinese ADRs slid in morning trading.XPeng fell over 7%; Tencent Music fell over 3%; Alibaba, Nio, Li Auto, JD.com fell about 2%; Bilibili, NetEase fell about 1%.Investors have shifted their focus back to corporate earnings after digesting positive factors like China’s market support measures and Thursday’s Fed decision. 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