Why Nio, Alibaba, Xpeng, Li Auto And Baidu Are Trading Lower Today

Shares of several China-based companies, including Nio (NYSE:NIO), Alibaba Group Holding Ltd - ADR (NYSE:BABA), Xpeng Inc - ADR (NYSE:XPEV), Li Auto Inc. (NASDAQ:LI) are trading lower Friday for the following reasons: 

• China-based companies in general are trading lower amid tensions between China and major western countries over human rights concerns.
• China-based companies in general are trading lower amid threats from the SEC to delist any foreign company off of U.S. exchanges who won’t adhere to US auditing practices.
• Nio is trading lower after the company announced the temporary suspension of production for five days due to the ongoing semiconductor shortage.
• Baidu shares are trading lower amid reports of a 10 million share block by Goldman Sachs.