Shares of Chinese companies, including Nio Inc (NYSE:NIO), are trading lower, possibly on continued weakness amid COVID-19 concerns in China, which have led to lockdown measures and caused economic uncertainty.
The COVID-19 lockdown in Shanghai and other parts of China has weighed on the broader Chinese economy and Chinese stocks in April. The IMF also recently downgraded China’s growth forecast to 4.4% from 4.8%, citing pain from its coronavirus restrictions.
