Shares of U.S.-listed Chinese tech companies traded notably lower in Hong Kong on Friday amid lingering worries about U.S.-delisting fears of dual-listed Chinese companies.
| Stock | Movement (+/-) |
|---|---|
| Alibaba Group Holding Limited (NYSE:BABA) | -4.1% |
| Nio Inc. (NYSE:NIO) | -3.9% |
| Xpeng Inc. (NYSE:XPEV) | -3.8% |
| Baidu Inc. (NASDAQ:BIDU) | -3.5% |
| JD.com Inc. (NASDAQ:JD) | -2.9% |
| Li Auto Inc. (NASDAQ:LI) | -2.5% |
| Tencent Holdings Limited (OTC:TCEHY) | -1.8% |
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The Macro Factors: The benchmark Hang Seng Index opened lower and was down 1.6% at the time of writing. The index closed 0.9% lower on Wednesday.
The U.S. public company accounting regulator said Thursday that recent media speculation about a deal that would stop hundreds of Chinese companies from being kicked off American stock exchanges was “premature,” Reuters reported.
Investors also remained cautious ahead of the announcement of food delivery giant Meituan’s (OTC:MPNGY) fourth-quarter earnings results later today.
Companies In The News: JD.Com’s shares fell after the e-commerce giant said that its logistics unit, JD Logistics, will raise $398 million through a sale of 150.5 million shares to outside investors.
Further, JD.Com said it will spend $692 million to purchase 261.4 million new shares in JD Logistics in order to retain its 63.5% stake in the unit.
Electric vehicle maker Nio reported better-than-expected earnings results for the fourth quarter on Thursday, helped by volume growth and an expansion in vehicle margin.
Meanwhile, the first batch of Nio's premium sedan model — the ET7 — rolled off the production line at the company's Hefei manufacturing plant on Thursday.
Shares of Chinese companies closed mixed in U.S. trading on Thursday even as the major averages ended notably higher.
Nio closed 0.6% higher in the regular trading session, but closed 2.2% lower in the after-hours session, according to data from Benzinga Pro.
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