China ADRs slide as COVID-19 curbs, inflation hammer Shanghai stocks

DouYu International Holdings

11/04/2022 12:27

** China ADRs fall in premarket trading, reflecting weakness
in home markets mired in concerns about COVID-19 curbs, high
inflation and worries over an inversion in 10-year spread
between domestic and U.S. yields  .SS 
    ** EV maker Nio  NIO.N  drops 8.4% after it suspends
production as China's measures to contain COVID-19 surge
disrupts operations at its suppliers  urn:newsml:reuters.com:*:nL3N2W704S
    ** Other EV stocks Xpeng  XPEV.N  and Li Auto  LI.O  drop
6%-7%
    ** E-commerce players Alibaba  BABA.N , JD.com  JD.O  and
Pinduoduo  PDD.O  down over 1%, while internet giant Baidu
 BIDU.O  down 1.1%
    ** Ride-hailing firm Didi  DIDI.N  off 2.4%, iShares China
Large-Cap ETF  FXI.N  down 2% 
    ** However, gaming stocks like Bilibili  BILI.O , Netease
Inc  NTES.O , Huya  HUYA.O  and Douyu International Holdings
 DOYU.O  jump between 1.5% and 8% 
    ** Chinese regulators awarded XD Inc  2400.HK  a publishing
license for its title "Party Star" on April 8, a document seen
by Reuters showed, in one of its first approvals of a game since
July last year  urn:newsml:reuters.com:*:nB9N2I302G

 (Reporting by Sruthi Shankar)
 ((sruthi.shankar@thomsonreuters.com;))