KraneShares CSI China Internet ETF (KWEB) Tests Low, Down 16.3% Amid Ongoing Rout in China Stocks
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Go back to KraneShares CSI China Internet ETF (KWEB) Tests Low, Down 16.3% Amid Ongoing Rout in China Stocks
October 25, 2022 7:21 AM EDT
Shares of Tesla (NASDAQ: TSLA) are down 0.73% in pre-market trading on Tuesday after price cuts saw the electric vehicle stock close at 211.25 on Monday, down 1.49%. Chinese electric vehicle stocks followed suit with declines averaging 15% compared to the NASDAQs +1%. Deutsche Bank attributes this weakness to negative surprise around the new Chinese leadership selection, lack of updates surrounding COVID zero policies, and concerns following Teslas price cuts.
Tesla lowered the domestic China price for their Model 3 and Model Y by around 5% on Monday. The cuts were not unexpected and should not come... More
October 24, 2022 12:02 PM EDT
Chinese companies listed on U.S. exchanges experienced a sharp decline on Monday due to investor worries that Chinese President Xi Jinping's policies, which have resulted in a slowing economy, will continue.
Xi Jinping was confirmed as leader of the CCP for a third five-year term. There has been a... More
October 24, 2022 9:57 AM EDT
Alibaba (NYSE: BABA) Extends Decline, Down 16.5%
Pinduoduo (NASDAQ:
PDD) -28%NIO Inc. (NYSE:
NIO) -18%Baidu (NASDAQ:
BIDU) -18%
...
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