Shares of multiple Chinese companies, including Alibaba Group Holding Ltd - ADR BABA, Nio Inc - ADR Class A NIO and Baidu Inc BIDU, are trading lower following reports the SEC has identified multiple US-listed ADRs as having not adhered to the Holding Foreign Companies Accountable act. The continued Russia-Ukraine conflict could also be impacting Chinese stocks.
Selling pressure in Chinese names may also be stemming from the sell-off in ride-hailing giant DiDi Global Inc DIDI. The ride-hailing giant had to pull the brakes on its Hong Kong listing as it failed to satisfy China's concerns over a sensitive data leak, Bloomberg reports…Read More
Alibaba is trading lower by 5.20% at $88.09.
Nio is trading lower by 7.93% at $16.36.
Baidu is trading lower by 10.66% at $120.75.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
