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NASDAQ Golden Dragon China Index Plunges 6.1% Last Fri
Recommend 35 Positive 75 Negative 15 |
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Last Friday (10th), US President Donald Trump abruptly announced an extra 100% tariff on Chinese goods, prompting a plunge in U.S.-listed Chinese stocks. The NASDAQ Golden Dragon China Index sagged 520 points or 6.1% at 8,018. Regarding Chinese ADRs, Alibaba (BABA.US) and Baidu (BIDU.US) slid 8.5% and 8.1%; Bilibili (BILI.US) and Kingsoft Cloud (KC.US) plunged 9.4% and 10.8%; JD.com (JD.US), Pinduoduo (PDD.US), and Vipshop (VIPS.US) cratered 6.2%, 5.3%, and 4.9%, while NetEase (NTES.US) lost 3.1%. VNET Group, Inc. (VNET.US) and GDS Holdings (GDS.US) stumbled 11.2% and 13.3%. In the automotive sector, XPeng (XPEV.US) and NIO (NIO.US) fell off 8.2% and 10.1%, and Li Auto (LI.US) shed 3.4%. Automotive radar system company Hesai (HSAI.US) plummeted 11.1%. AASTOCKS Financial News Website: www.aastocks.com |
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