Why Kingsoft Cloud Holdings Shares Are Falling During Monday's Session

Kingsoft Cloud Holdings Ltd KC shares are trading lower by 7.82% to $7.48 during Monday afternoon amid broader Chinese market weakness after China conducted military drills near Taiwan.

What's Going On In Taiwan?

Our Benzinga team reported seventy-one Chinese military aircraft crossed the median line of the Taiwan Strait on Saturday in response to a meeting between the House speaker and the president of Taiwan, according to Reuters.

The response follows just days after China strongly condemned Taiwan President Tsai Ing-wen's meeting with U.S. Speaker Kevin McCarthy in Los Angeles on Wednesday. The country has often made clear its displeasure about Taiwan's contact with foreign governments...Read More

According to data from Benzinga Pro, KC has a 52-week high of $10.13 and a 52-week low of $1.77.