Euro Patent Box
  • Business & Finance
  • Business News
  • eCommerce
  • Education
  • General
  • Home
  • real estate school jacksonville fl
  • Mental Health Related
  • Privacy Policy
  • Contact Us
  • Sitemap
  • Advertise Here
Select Page

Alibaba, Nio Stocks Slide: Is Snap Fallout Hitting Hang Seng Index?

by Amy B. Taylor | Jul 25, 2022 | eCommerce

Alibaba, Nio Stocks Slide: Is Snap Fallout Hitting Hang Seng Index?

[ad_1]

Hong Kong’s benchmark Hang Seng Index opened in the red on Monday following a weaker close on Wall Street on Friday, which was dominated by a plunge in social media stocks. The Hang Seng fell 0.6% in opening trade ahead of the crucial U.S. Federal Reserve meeting later this week that could potentially see a 75 bps rate hike.











Stock Movement
NIO -7.48%
Li Auto -4.59%
XPeng -4.26%
Alibaba -2.06%
Baidu -1.43%
Tencent Holdings -1.2%
JD.com -0.4%

EVs plunge: Nio Inc NIO led the losers, with the stock shedding more than 7% in opening trade. Tesla Inc TSLA rival XPeng Inc XPEV fell more than 4%, while Li Auto Inc LI was down nearly 4.6% at press time.

Tech Loses Shine: Shares of Alibaba Group Holding Ltd. BABA lost more than 2% in opening trade and Baidu Inc BIDU fell 1.43% on Monday morning. Tencent Holdings Ltd. TCEHY shares were down 1.2%, while shopping platform Meituan MPNGF lost 0.52%. 

E-commerce player JD.com Inc JD lost 1.3%.

Also read: Apple, Meta, Pfizer Among Key Companies Reporting In The Week Ahead, As Earnings Pick Up Pace

Company News: Nio is set to enter Germany, Holland, Denmark and Sweden with its flagship ET7 sedan along with its battery swap stations and domestic hiring, reports EV quoting the Deutsche Bank analyst Edison Yu.

China is planning to sort U.S.-listed Chinese firms into groups based on data sensitivity in order to prevent U.S. regulators from delisting them, reported the Financial Times. About 260 Chinese firms including Alibaba, Yum China Holdings Inc YUMC and Weibo Corp WB could get delisted from New York stock exchanges if they fail to meet requirements.

Macro News: Hong Kong banks are set to witness their first increase in prime lending rates in four years with the Fed’s imminent rate hike this Thursday to ward-off 40-year high inflation, the South China Morning Post reported, quoting analysts.

China has clarified that Xi Jinping has been administered a local Covid jab, in an effort to allay safety concerns, reported The Guardian. Zeng Yixin, deputy head of the National Health Commission, stated that domestically made shots have been used to vaccinate ‘State and Party leaders’ — a category of top officials that would include President Xi Jinping and Premier Li Keqiang.

Global Markets: U.S. markets ended in the red on Friday, led by a plunge in social media stocks, with the Nasdaq index falling 1.87%. The Dow Jones Industrial Average closed 0.43% lower, while the S&P 500 shed 0.93%.

Shares of Snap Inc SNAP nosedived 39% over disappointing second-quarter results.

Elsewhere in Asia, Japan’s Nikkei 225 traded lower at 0.64% while the South Korean Kospi rose marginally by 0.03%. China’s Shanghai Composite traded flat, while Australia’s ASX 200 was up 0.07% in opening trade.

[ad_2]

Source link

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • March 2020
  • February 2020
  • January 2020
  • November 2018
  • October 2018
  • December 2016

Visit Now

Example

BL

TL

Intellifluence Trusted Blogger

Categories

  • Business & Finance
  • Business News
  • eCommerce
  • Education
  • General
  • Mental Health Related
  • Society
  • Sports

Recent Posts

  • Funding Business Ideas (No Inventory Required)
  • Why MX204-HWBASE-AC-FS Might Be the Router You Need For Your Business
  • Custom Packaging Work Best for Products Safety
  • In One Montana Town, Masks Guidelines Range By The Business.
  • Most Popular Online Electronics Stores Within The U S

bayar.ooo

buy backlinks

Tags

Amazon Business Login Amazon Business Prime Att Business Login Bank Of America Business Account Best Business Schools Business Business Attorney Near Me Business Bank Account Business Card Holder Business Card Maker Business Cards Near Me Business Card Template Business Casual Attire Business Casual Shoes Business Casual Woman Business Plan Examples Ca Business Search Capital One Business Credit Card Ca Sos Business Search Chase Business Checking Chase Business Credit Cards Chase Business Customer Service Citizens Business Bank Cox Business Login Digital Business Card Facebook Business Suite Finance In Business Free Business Cards Harvard Business School Massage Parlor Business Near Me Michigan Business Entity Search Mind Your Business Mind Your Own Business Ohio Business Search Risky Business Costume Skype For Business Small Business Loan Small Business Saturday 2021 Starting A Business Triumph Business Capital Vending Machine Business Verizon Business Customer Service Vonage Business Login Wells Fargo Business Account Yahoo Small Business
  • Facebook
  • Twitter
  • Instagram
  • RSS