SKF and NIO (NIO) Reach Agreement to Expand Strategic Cooperation

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Go back to SKF and NIO (NIO) Reach Agreement to Expand Strategic Cooperation

Alibaba (BABA), Other China Names Pare Recent Decline

October 26, 2022 10:37 AM EDT

Alibaba (NYSE: BABA), Other China Names Pare Recent Decline

BABA +8%Pinduoduo (NASDAQ: PDD) +11%NIO Inc. (NYSE: NIO) +2.6%JD.com (NASDAQ: JD) 7%KraneShares CSI China Internet ETF (NYSE: KWEB) +8%
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Deutsche Bank Unsurprised Following Tesla (TSLA) Price Cuts

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