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Chinese Stocks Tumble in U.S. Pre-Market as Investor Caution Grows
AInvestThursday, Oct 3, 2024 5:00 am ET
1min read
BIDU --
BILI --
NIO --
PDD --
XPEV --

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.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.