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Benzinga
Benzinga
World
Navdeep Yadav

Alibaba Down 7%, Nio Slides Over 3%: What's Causing A Selloff In Hong Kong Today

BABA Alibaba NIO Hong Kong United States Alibaba Group Holding NYSE Tencent Baidu Xpeng

Shares of U.S.-listed Chinese firms traded significantly lower in Hong Kong on Thursday morning, with major tech names like Alibaba Group Holding (NYSE: BABA), JD.com Inc (NASDAQ: JD), Baidu Inc (NASDAQ: BIDU) deep in the red, led by an 8% fall in Tencent Holdings (OTC: TCEHY).

Electric vehicle makers NIO Inc (NYSE: NIO), Li Auto Inc (NASDAQ: LI), and Xpeng Inc (NYSE: XPEV) were also under immense pressure.

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