US-listed shares of China ADRs fall on weak domestic manufacturing data for July

HUYA

01/08/2023 12:05

** U.S.-listed shares of Chinese companies fall in premarket
trading as domestic data of world's second-largest economy
showed contraction in manufacturing
    ** China's manufacturing activity fell for a fourth straight
month in July while services and construction sectors teetered
on the brink of contraction, sector surveys showed late on
Monday 
    ** E-commerce firms Alibaba Group Holding  BABA.N , JD.com
Inc  JD.O  and Pinduoduo  PDD.O  fall between 1% and 2%,
premarket
    ** Gaming co Bilibili  BILI.O  slides 3.1%, search engine
giant Baidu  BIDU.O  sheds 0.9%    
    ** EV firms Nio  NIO.N  and Xpeng  XPEV.N  slip between 0.4%
and 0.9%; Li Auto  LI.O  surges 2.2% on July 2023 delivery
update
    ** Music streaming co Tencent Music Entertainment Group
 TME.N  and online video platform IQIYI  IQ.O  fall 2% and 2.2%,
respectively, while social media co Weibo  WB.O  and live
streaming platform Huya  HUYA.N  lose 1.8% and 3.5%,
respectively
    ** Online education firms Gaotu Techedu Inc  GOTU.N , TAL
Education Group  TAL.N  and New Oriental Education & Technology
Group Inc  EDU.N  down 1.1%-2.6%
    ** Online brokerages Futu Holdings  FUTU.O  and UP Fintech
Holding  TIGR.O  dip 1.5% and 3.8%, respectively    
    ** China ETFs such as IShares MSCI China ETF  MCHI.O  slips
1.8%, KraneShares CSI China Internet ETF  KWEB.K  down 1.9% and
Direxion China CSI Daily Bull 2X  CWEB.K  falls 3.6% 

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))