What's Going On With US Listed Chinese Stocks Alibaba, JD, Nio, Li XPeng On Wednesday?

U.S.-listed Chinese stocks Alibaba Group Holding. (NYSE: BABA), JD.com, Inc. (NASDAQ: JD), Baidu, Inc. (NASDAQ: BIDU), NIO Inc. (NYSE: NIO), Li Auto Inc. (NASDAQ: LI), and XPeng Inc. (NYSE: XPEV) recorded some redemption on Wednesday premarket after a selloff triggered by geopolitical tensions perpetrated by Donald Trump’s U.S. presidential election victory and lackluster domestic stimulus.

However, the stocks gave up the premarket gains in Wednesday’s regular trading session.

Alibaba and JD.com have concluded their Singles’ Day shopping events, reporting solid sales figures as domestic consumer demand increases. Both e-commerce leaders highlighted increased activity during the world’s largest annual shopping festival, signaling a potential recovery in Chinese retail spending, SCMP reports.

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Both platforms indicated significant growth across key metrics, reflecting increased buyer engagement and transaction volumes.

Alibaba’s domestic platforms, Taobao and Tmall, noted record-high participation, with 45 major brands such as Apple Inc AAPL, Xiaomi Corp XIACF XIACY, and Nike Inc NKE each generating sales exceeding 1 billion yuan ($139 million).

Additionally, over 580 brands surpassed the 100-million-yuan GMV mark, a substantial increase from the previous year.

JD.com reported robust growth, with transaction volumes increasing fivefold compared to last year’s figures for over 17,000 brands on its platform.

Around 30,000 small and medium-sized merchants also experienced a 200% year-over-year surge in sales, underlining the broader market recovery.

A recent Fudan University-affiliated think tank report told SCMP that Alibaba led the market with a 38% share during the Singles’ Day event. JD.com secured a 20% share, while ByteDance’s Douyin captured 13%, and Pinduoduo, owned by PDD Holdings Inc PDD, held 10%.

Analysys, a Chinese consultancy firm, told SCMP that Taobao and Tmall accounted for nearly half of all sales across major platforms. Douyin stood out with a 19% increase in GMV, marking the highest growth among competitors.

On the EV front, the European Union sees minimal progress in ongoing talks with China to find an alternative to electric vehicle tariffs, the Economic Times cites familiar sources. Technical discussions will continue following meetings in Beijing, where both sides have claimed some progress.

However, prospects for a swift agreement remain low, as China has yet to meet the EU’s stringent demands for enforceable measures equivalent to the recent anti-subsidy tariffs, the sources added.

Negotiations have focused on setting up a communication channel and preventing cross-compensation, where other product sales, like hybrid vehicles, could offset price limits on EV imports.

Chinese EV stocks Nio, Li Auto, and Xpeng are trading higher on Wednesday in the premarket session, only to give up gains in the regular trading session.

Meanwhile, President-elect Donald Trump’s likely picks of Sen. Marco Rubio as Secretary of State and Rep. Mike Waltz as National Security Adviser suggest a stricter stance on China, the Japan Times reports.

Rubio, known for his strong anti-China rhetoric, has backed a harder line against Beijing.

Waltz shares Rubio’s hawkish approach, focusing on countering China’s influence in the Indo-Pacific. He has pushed to reduce U.S. reliance on Chinese imports and enhance American shipbuilding capacity through allied cooperation.

Price Actions: At the last check on Wednesday, BABA stock is down 0.22% to $91.58. JD is down 0.85%, XPEV is down 2.82%.

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