Continued Setbacks: Why Alibaba, Other Tech Stocks Are Slumping In Hong Kong Despite Upbeat China Data

Benzinga2022-01-14

Shares of U.S.-listed Chinese tech companies fell in Hong Kong on Friday, extending losses from the previous session and leading the benchmark Hang Seng Index lower.What’s Moving: Shares of Alibaba ...

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AricLo
2022-01-14
AricLo
Thankx

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Data\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-14 13:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/22/01/25050274/continued-setbacks-why-alibaba-other-tech-stocks-are-slumping-in-hong-kong-despite-upbeat-china-data><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of U.S.-listed Chinese tech companies fell in Hong Kong on Friday, extending losses from the previous session and leading the benchmark Hang Seng Index lower.What’s Moving: Shares of Alibaba ...</p>\n\n<a 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has withdrawn from an agreement to buy a 20% stake in the consumer finance unit of Ant Group.Jiangsu Yuyue Medical Equipment & Supply also said it is scrapping its plan to invest in Ant’s consumer finance unit, the South China Morning Post reported.Meanwhile, China’s trade surplus reached $94.5 billion in December and exceeded estimates as exports hit fresh records, as per a report by Bloomberg.Tesla Inc. and Nio Inc.’s China-based battery supplier CATL retained its dominance of the Chinese power battery market with a 52.1% market share last year, it was reported on Thursday, citing cnEV post.Shares of Chinese companies closed notably lower in U.S. trading on Thursday after the major averages in the U.S. ended lower following a tech-driven selloff.Alibaba’s shares closed 4.4% lower, while Nio’s shares ended lower by almost 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