China ADRs fall as Middle East concerns outweigh signs of recovery

HUYA

16/10/2023 11:15

** U.S.-listed shares of Chinese companies fall in premarket
trading as concerns around the Middle East conflict outweighed
signs of a Chinese economic recovery and Beijing's latest
measures to shore up investor confidence
    ** China's blue-chip CSI 300  .CSI300  stock index lost 1%
by close  .SS 
    ** E-commerce firms Alibaba Group Holding  BABA.N , JD.com
Inc  JD.O  and PDD Holdings  PDD.O  fall between 0.4% and 1.7% 
    ** Gaming stocks Bilibili Inc  BILI.O  slides 1.8% and peer
NetEase Inc  NTES.O  down 1.7%, while search engine giant Baidu
Inc  BIDU.O  sheds 0.9%
    ** EV firms Li Auto Inc  LI.O , Nio Inc  NIO.N  and Xpeng
Inc  XPEV.N  slip between 1.4% and 3.6%
    ** Music streaming co Tencent Music Entertainment Group
 TME.N  and online video platform IQIYI Inc  IQ.O  fall 3.5% and
3.1%, respectively 
    ** Social media co Weibo Corp  WB.O  and live streaming
platform Huya Inc  HUYA.N  lose 1.6% and 2.3%, respectively
    ** Online brokerages Futu Holdings Ltd  FUTU.O  and UP
Fintech Holding Ltd  TIGR.O  dip 1.0% each
    ** China ETFs such as China Large-Cap ETF  FXI.N  and
KraneShares CSI China Internet ETF  KWEB.K  fall 0.6% and 0.8%,
respectively, while Direxion China CSI Daily Bull 2X  CWEB.K 
slides 1.9%

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))