Chinese Stocks Tumble in U.S. Pre-Market as Investor Caution Grows

On October 3rd, several major Chinese stocks listed in the U.S. saw significant pre-market declines. Bilibili led the downward trend with nearly a 5% drop, while Pinduoduo, Miniso, and XPeng each fell over 3%. Baidu, NIO, and JD.com were also down by more than 2%.

Tuniu and UP Fintech Holding experienced steep declines of nearly 8% and 7%, respectively. Bilibili, DouYu, and Zeekr fell over 5%, with iQIYI and Weibo down more than 3%. Notably, Ke Holdings, XPeng, and other key stocks like NIO, Pinduoduo, and Miniso also faced over 3% losses.

The broader market sentiment was reflected in the Nasdaq Golden Dragon China Index, which dropped by 2.8%. Stocks like iQIYI and Tencent Music were down nearly 5% and over 4%, respectively. NIO, Vipshop, and Li Auto each saw declines exceeding 3%, while Alibaba and Bilibili faced smaller drops. Baidu and NetEase registered slight losses.

The automotive sector was notably impacted. XPeng and NIO saw drops exceeding 4%, while Li Auto declined nearly 3%. This downward pressure follows the EU's consideration of tariffs on Chinese electric vehicles, which has fueled investor caution.