Here's Why Li Auto And XPeng Shares Are Moving

Shares of Chinese companies, including Li Auto Inc LI and XPeng Inc - ADR XPEV, are trading lower, selling off following marked strength Wednesday amid reports indicating China's financial stability and development committee urged market stability measures.

Shares of several Chinese stocks have seen weakness amid a COVID-19 outbreak in the country which has caused some business operations to cease. Shares of Asia-Pacific stocks have also seen weakness in March as Russia-Ukraine tensions weigh on trader and investor sentiment.

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Li Auto is trading lower by 3.9% at $25.03.

XPeng is trading lower by 9.4% at $24.93.