U.S.-listed China stocks extend losses on new ban, blacklist report

Weds Co

17/12/2021 14:24

** U.S.-listed Chinese stocks extend losses premarket two
days after media report says U.S. will blacklist eight firms 
    ** The U.S. Treasury will put DJI, the world's largest
commercial drone manufacturer, and other companies on its
"Chinese military-industrial complex companies" blacklist,
Financial Times reported on Wednesday  urn:newsml:reuters.com:*:nFWN2SZ12C    
    ** Additionally, per a new report, Chinese regulators are
planning to ban online brokerages such as Futu Holdings  FUTU.O 
and UP Fintech Holding Ltd  TIGR.O  from offering offshore
trading services to mainland clients  urn:newsml:reuters.com:*:nL1N2T20KK
    ** Alibaba  BABA.N  falls 1.3%, tracking its lowest in two
weeks, while Baidu  BIDU.O  and Weibo  WB.O  drop between 1% and
1.5%
    ** Nio  NIO.N , Li Auto  LI.O  and Xpeng  XPEV.N  fall
between 2.4% and 3.2% premarket
    ** KraneShares CSI China Internet ETF  KWEB.N , which tracks
Chinese internet stocks, drops 2.5%, while iShares MSCI China
ETF  MCHI.O , which tracks broader Chinese stocks, down 2%
    ** KWEB is eyeing its fifth consecutive day of losses;
shares have slipped 48% YTD  urn:newsml:reuters.com:*:nL1N2QF0IH
    ** U.S.-listed shares of the cos also fell premarket Weds
 urn:newsml:reuters.com:*:nL4N2T02PF

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))