Alibaba, NIO, BYD Stocks Slump as China Rally Pauses -- Barrons.com

Dow Jones

03 Oct 2024

By Elsa Ohlen

The rally of Chinese stocks took a breather Thursday after having gained almost 30% from September lows.

Shares of e-commerce giants Alibaba and JD.com fell 4.4% and 7.9%, respectively. Electric vehicle makers NIO and BYD dropped 7.4% and 6.4%. Game developer Tencent closed 0.8% lower.

Alibaba's American depositary receipts, or ADRs, fell 3.2% to $111.62 in the premarket, while JD.com ADRs fell 4.1% to $42.95. NIO ADRs were down 4% to $6.92.

The setbacks follow the impressive rally that came after China's government and central bank unleashed a wave of stimulus for the world's second-biggest economy. Measures included interest-rate cuts and additional funds to buy stocks.

While some analysts saw this as the start of an even bigger rally, others said the measures weren't enough to get China's battered economy back on its feet.

"The China stimulus rally has lost steam," Kathleen Brooks, research director at XTB said Thursday.

The Hang Seng Index in Hong Kong ended the Thursday trading session 1.5% lower, snapping a 13-day winning streak. The Hang Seng Tech Index fell 3.5%.

The Shanghai Composite index remained closed for the Golden Week holiday.

Write to Elsa Ohlen at elsa.ohlen@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

October 03, 2024 07:03 ET (11:03 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2472961746"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2472961746\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/2472961746?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-03 19:03","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2472961746","market":"hk","top_or_hot":-1,"title":"Alibaba, NIO, BYD Stocks Slump as China Rally Pauses -- Barrons.com","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Elsa Ohlen \n</p>\n<p>\n  The rally of Chinese stocks took a breather Thursday after having gained almost 30% from September lows. \n</p>\n<p>\n     Shares of e-commerce giants Alibaba and JD.com fell 4.4% and 7.9%, respectively. Electric vehicle makers NIO and BYD dropped 7.4% and 6.4%. Game developer Tencent closed 0.8% lower. \n</p>\n<p>\n     Alibaba's American depositary receipts, or ADRs, fell 3.2% to $111.62 in the premarket, while JD.com ADRs fell 4.1% to $42.95. NIO ADRs were down 4% to $6.92. \n</p>\n<p>\n     The setbacks follow the impressive rally that came after China's government and central bank unleashed a wave of stimulus for the world's second-biggest economy. Measures included interest-rate cuts and additional funds to buy stocks. \n</p>\n<p>\n     While some analysts saw this as the start of an even bigger rally, others said the measures weren't enough to get China's battered economy back on its feet. \n</p>\n<p>\n     \"The China stimulus rally has lost steam,\" Kathleen Brooks, research director at XTB said Thursday. \n</p>\n<p>\n     The Hang Seng Index in Hong Kong ended the Thursday trading session 1.5% lower, snapping a 13-day winning streak. The Hang Seng Tech Index fell 3.5%. \n</p>\n<p>\n     The Shanghai Composite index remained closed for the Golden Week holiday. \n</p>\n<p>\n     Write to Elsa Ohlen at elsa.ohlen@barrons.com \n</p>\n<p>\n     This content was created by Barron's, which is operated by Dow Jones &amp; Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 03, 2024 07:03 ET (11:03 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba, NIO, BYD Stocks Slump as China Rally Pauses -- Barrons.com</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba, NIO, BYD Stocks Slump as China Rally Pauses -- Barrons.com\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-03 19:03</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Elsa Ohlen \n</p>\n<p>\n  The rally of Chinese stocks took a breather Thursday after having gained almost 30% from September lows. \n</p>\n<p>\n     Shares of e-commerce giants Alibaba and JD.com fell 4.4% and 7.9%, respectively. Electric vehicle makers NIO and BYD dropped 7.4% and 6.4%. Game developer Tencent closed 0.8% lower. \n</p>\n<p>\n     Alibaba's American depositary receipts, or ADRs, fell 3.2% to $111.62 in the premarket, while JD.com ADRs fell 4.1% to $42.95. NIO ADRs were down 4% to $6.92. \n</p>\n<p>\n     The setbacks follow the impressive rally that came after China's government and central bank unleashed a wave of stimulus for the world's second-biggest economy. Measures included interest-rate cuts and additional funds to buy stocks. \n</p>\n<p>\n     While some analysts saw this as the start of an even bigger rally, others said the measures weren't enough to get China's battered economy back on its feet. \n</p>\n<p>\n     \"The China stimulus rally has lost steam,\" Kathleen Brooks, research director at XTB said Thursday. \n</p>\n<p>\n     The Hang Seng Index in Hong Kong ended the Thursday trading session 1.5% lower, snapping a 13-day winning streak. The Hang Seng Tech Index fell 3.5%. \n</p>\n<p>\n     The Shanghai Composite index remained closed for the Golden Week holiday. \n</p>\n<p>\n     Write to Elsa Ohlen at elsa.ohlen@barrons.com \n</p>\n<p>\n     This content was created by Barron's, which is operated by Dow Jones &amp; Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 03, 2024 07:03 ET (11:03 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2472961746","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472961746","pubTimestamp":1727953380,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"The rally of Chinese stocks took a breather Thursday after having gained almost 30% from September lows.Shares of e-commerce giants Alibaba and JD.com fell 4.4% and 7.9%, respectively. Electric vehicle makers NIO and BYD dropped 7.4% and 6.4%. Game developer Tencent closed 0.8% lower.Alibaba's American depositary receipts, or ADRs, fell 3.2% to $111.62 in the premarket, while JD.com ADRs fell 4.1% to $42.95. NIO ADRs were down 4% to $6.92.The setbacks follow the impressive rally that came after China's government and central bank unleashed a wave of stimulus for the world's second-biggest economy. Measures included interest-rate cuts and additional funds to buy stocks.While some analysts saw this as the start of an even bigger rally, others said the measures weren't enough to get China's battered economy back on its feet.\"The China stimulus rally has lost steam,\" Kathleen Brooks, research director at XTB said Thursday.The Hang Seng Index in Hong Kong ended the Thursday trading session ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"随着中国涨势暂停，阿里巴巴、蔚来、比亚迪股价暴跌--Barrons.com","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"09618":0.6,"09866":0.6,"09988":1,"BABA":1,"BYD":1,"EVS.SI":0.6,"JD":0.7,"NIO":0.9,"NIO.SI":1,"TCEHY":0.7},"content_text":"By Elsa Ohlen \n\n\n  The rally of Chinese stocks took a breather Thursday after having gained almost 30% from September lows. \n\n\n     Shares of e-commerce giants Alibaba and JD.com fell 4.4% and 7.9%, respectively. Electric vehicle makers NIO and BYD dropped 7.4% and 6.4%. Game developer Tencent closed 0.8% lower. \n\n\n     Alibaba's American depositary receipts, or ADRs, fell 3.2% to $111.62 in the premarket, while JD.com ADRs fell 4.1% to $42.95. NIO ADRs were down 4% to $6.92. \n\n\n     The setbacks follow the impressive rally that came after China's government and central bank unleashed a wave of stimulus for the world's second-biggest economy. Measures included interest-rate cuts and additional funds to buy stocks. \n\n\n     While some analysts saw this as the start of an even bigger rally, others said the measures weren't enough to get China's battered economy back on its feet. \n\n\n     \"The China stimulus rally has lost steam,\" Kathleen Brooks, research director at XTB said Thursday. \n\n\n     The Hang Seng Index in Hong Kong ended the Thursday trading session 1.5% lower, snapping a 13-day winning streak. The Hang Seng Tech Index fell 3.5%. \n\n\n     The Shanghai Composite index remained closed for the Golden Week holiday. \n\n\n     Write to Elsa Ohlen at elsa.ohlen@barrons.com \n\n\n     This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 03, 2024 07:03 ET (11:03 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}