Picture of NetEase logo

NTES — NetEase News Story

us flag iconLast trade - 00:00
TechnologyAdventurousLarge CapHigh Flyer

BUZZ-U.S.-listed Chinese firms drop as global risk mood sours

** U.S.-listed shares of major Chinese firms fall in
afternoon trading tracking global sentiment
    ** The Hang Seng Tech Index  .HSTECH  fell ~3% and Nasdaq
dropped 2% as global risk mood soured over geopolitical tensions
between Russia and the West ahead of a key U.S. Federal Reserve
meeting later this week  .N 
    ** Shares of Alibaba Group  BABA.K  decline 4.2% after a
report on Friday said an affiliate of the e-commerce giant is
connected to a corruption case  urn:newsml:reuters.com:*:nL4N2U10WX
    ** Baidu  BIDU.O , Didi Global  DIDI.N  and JD.com  JD.O 
down 3.8% to 6.8%  
    ** EV maker Nio  NIO.N  down 10.9%, while Li Auto  LI.O  and
XPeng  XPEV.N  drop 5.6% and 7.6%, respectively, tracking
similar fall in U.S. EV makers  urn:newsml:reuters.com:*:nL4N2U439V
    ** Online education co New Orient Education  EDU.N  declines
7% after weak outlook, while peers TAL Education  TAL.N  and
Zhangmen Education  ZME.N  down 7% and 14%, respectively
    ** Bilibili  BILI.O  drops 5.7% as Jefferies cut PT to $62
from $97
    ** Gaming co NetEase Inc  NTES.O  declines 4.4%,
music-streaming company Tencent Music  TME.N  down 5.4%
    ** IShares MSCI China ETF  MCHI.O , Invesco China Technology
ETF  CQQQ.N , iShares China Large-Cap ETF  FXI.N  and
KraneShares CSI China Internet ETF  KWEB.K  lose between 2.5%
and 4.5%

 (Reporting by Bansari Mayur Kamdar in Bengaluru)

Recent news on NetEase

See all news