Why KE Holdings (BEKE) And Futu Shares Are Trading Lower

KE Holdings Inc - ADR BEKE and Futu Holdings Ltd FUTU shares are both trading lower Wednesday morning. Shares of Chinese companies at large are trading lower following soft China export data.

What Happened?

Our Benzinga team reported that shipments to the U.S. tumbled by 25.43% Y/Y in November, while exports to the European Union fell by 10.62% Y/Y.

Meanwhile, November exports declined 8.7% year-on-year to $296 billion after falling 0.3% in October, the SCMP reports.

Ding Shuang, chief Greater China economist at Standard Chartered Bank, saw the downturn in Chinese exports continue relatively long as global macros weighed...Read More

According to data from Benzinga Pro:

• BEKE is trading lower by 6.54% to $15.93
• FUTU is lower by 4.78% to $64.00