China ADRs fall as geopolitical, property market concerns mount

HUYA

30/08/2023 11:40

** U.S.-listed shares of Chinese companies fall premarket
amid geopolitical, property market worries
    ** American firms say China has become "uninvestible" - U.S.
Commerce Secretary Gina Raimondo 
    ** Investors wary ahead of embattled property developer
Country Garden's  2007.HK  first-half results 
    ** Alibaba Group Holding  BABA.N , JD.com Inc  JD.O  and
Pinduoduo Inc  PDD.O  fall 1.7%-2.5%
    ** Bilibili Inc  BILI.O , NetEase Inc  NTES.O  down
2.9%,1.2%, respectively; Baidu Inc  BIDU.O  sheds 1.6%
    ** EV makers Li Auto Inc  LI.O , Nio Inc  NIO.N  and Xpeng
Inc  XPEV.N  slip 3.9-4.5%
    ** Tencent Music Entertainment Group  TME.N , IQIYI Inc
 IQ.O  fall 1.7% and 1%, respectively; Weibo Corp  WB.O  loses
1.6% 
    ** Futu Holdings Ltd  FUTU.O , UP Fintech Holding Ltd
 TIGR.O  down 3.5% and 6%, respectively
    ** IShares MSCI China ETF  MCHI.O , China Large-Cap ETF
 FXI.N  and KraneShares CSI China Internet ETF  KWEB.K  down
1.4%-2.6%; Direxion China CSI Daily Bull 2X  CWEB.K  falls 4.8%

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))