Chinese ETFs And ADRs Mixed. Bilibili up 7%; Nio up 3%; Li Auto, Alibaba up 1%; JD.com down 2%; XPeng down 1%
Chinese ETFs and ADRs were mixed in Friday trading. Bilibili up 7%; Nio up 3%; Li Auto, Alibaba up 1%; Baidu, PDD up 0.5%; JD.com fell 2%; XPeng fell 1%.
Baidu Inc., Bilibili Inc. and Lenovo Group Ltd. are among the Chinese tech firms in focus for next week’s earnings, just as the easing US-China trade war brings back some optimism for the sector.
Baidu’s artificial intelligence business will be compared with rivals Alibaba Group Holding Ltd. and Tencent Holdings Ltd. as competition intensifies in the space. Meanwhile, Bilibili continues to see healthy growth in its mobile games segment.
Expectations for the tech industry got a boost after strong results from Tencent and JD.com Inc., though weaker-than-expected revenue growth from Alibaba may have dented sentiment. There’s also concern that Beijing might pull back stimulus policies as US-China trade tensions abate.
Xpeng Inc. also saw stronger sales in the first quarter. China’s new energy vehicle makers “appear largely unshaken by the US tariff storm,” said Bloomberg Intelligence’s Joanna Chen.
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