China ADRs slip on slowdown worries, delisting woes

Accendra Health

15/08/2022 12:48

** U.S.-listed shares of Chinese firms fall in premarket
trading, tracking the drop in their domestic peers after data
showed economic activities and credit expansion in China slowed
sharply in July 
    ** Tech giants listed in Hong Kong  .HSTECH  slipped 1% by
close, while CSI300 index  .CSI300  closed down 0.1%, even as
the China's central bank unexpectedly cut key rates to support
the COVID-19 hit economy   .SS 
    ** E-commerce firms Alibaba.com  BABA.N , JD.com  JD.O  and
Pinduoduo  PDD.O  slide between 0.9% and 1.5%
    ** Gaming firm NetEase  NTES.O  eases 1.2%, while peer
Bilibili  BILI.O  rises 0.4%
    ** Internet co Baidu  BIDU.O  declines 1.7%
    ** Li Auto Inc  LI.O  tumbles 6.3% as the Chinese EV maker
reports wider quarterly loss, peers Nio Inc  NIO.N  and Xpeng
Inc  XPEV.N  fall 1.9% and 3.7%, respectively  urn:newsml:reuters.com:*:nL4N2ZR2A2
    ** ETFs such as China Large-Cap ETF  FXI.N , IShares MSCI
China ETF  MCHI.O  and KraneShares CSI China Internet ETF
 KWEB.K  fall between 0.4% and 1%
    ** China Life Insurance  LFC.N , Sinopec  SNP.N , Aluminium
Corporation of China  ACH.N , PetroChina  PTR.N  and Sinopec
Shanghai Petrochemical Co  SHI.N  shed between 1.1% and 3.9%,
extending Friday's decline  urn:newsml:reuters.com:*:nL4N2ZO2WM
    ** These five U.S.-listed Chinese state-owned companies
whose audits are under scrutiny by the U.S. securities regulator
said on Friday they would voluntarily delist from the New York
Stock Exchange  urn:newsml:reuters.com:*:nL1N2ZO0IK  urn:newsml:reuters.com:*:nL1N2ZR05T

 (Reporting by Bansari Mayur Kamdar in Bengaluru)
 ((BansariMayur.Kamdar@thomsonreuters.com;))