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Benzinga
Benzinga
World
Bhavik Nair

XPeng Plunges 10% On Weak Results, Alibaba Sheds 1%: Hang Seng Opens Lower As Fed's Jackson Hole Meet Takes Precedence

Xpeng Nasdaq Jackson Hole Tesla Inc. Xpeng Inc Hong Kong Jerome Powell

Electric-vehicle stocks plunged in Hong Kong on Wednesday morning, with Tesla Inc (NASDAQ:TSLA) rival XPeng Inc tumbling over 10% after posting a quarterly net loss that more than doubled.

The benchmark Hang Seng Index fell 0.28% at the open as markets eyed U.S. Federal Reserve Chair Jerome Powell's speech on the economic outlook at the Jackson Hole Symposium on Friday.

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