I think is largely due to the reshuffling of Ji's cabinet members. Many investors worried that more changes or instability ahead. Hang seng has the worst single day rout today. I think will laosai more, wait till stable then buy the dip. 

Hot Chinese ADRs Plunged in Premarket Trading

Hot chinese ADRs plunged in premarket trading. Alibaba, Pinduoduo, JD.com, Netease, Baidu, NIO, XPen
Hot Chinese ADRs Plunged in Premarket Trading

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