BUZZ-China ADRs fall tracking losses in mainland peers

Reuters
2024-11-22

** Chinese companies' U.S.-listed shares fall in premarket trade after mainland peers post worst day in 6 weeks

** China and Hong Kong stocks fell sharply on Friday, dragged by big tech firms' disappointing earnings and investors' fears over U.S. President-elect Donald Trump's future policies on China

** Shanghai Composite and blue chip CSI300 down 3.1% each, posted their biggest single-day losses since Oct. 9

** Hang Seng dipped 1.9%

** A Reuters poll this week showed the Trump administration could impose nearly 40% tariffs on Chinese imports early next year

** E-commerce giant PDD Holdings and search engine operator Baidu posted lower-than-expected Q3 results on Thursday

** Alibaba down 3.3%, JD.com falls 1.1% and PDD Holdings down 1.6%

** EV firms Li Auto falls 3.4%, Nio down 2.6% and Xpeng slides 5.6%

** Gaming stock Bilibili slides 4.1%, Baidu down 3.3%, video platform iQIYI falls 3.9%

** Tencent Music down 2.1%, Weibo 1.8% lower

** Chinese ETFs such as iShares MSCI China ETF down 2.9%, KraneShares CSI China ETF slides 2.8% and iShares China Large-Cap ETF falls 2.7%

(Reporting by Sukriti Gupta in Bengaluru)

((Sukriti.Gupta@thomsonreuters.com;))

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