BABA - Chinese Stocks: Why BABA XPEV LI JD BIDU and TCEHY Stocks Are Down Today
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Chinese stocks are slipping today as recent turmoil surrounding the war between Russia and Ukraine causes shares to slump.
This comes as China has continued to support Russia during its war in Ukraine. The country hasn’t placed trade sanctions on Russia like others have, even if it isn’t openly approving of the invasion.
That makes sense as Russia is pushing into territory that was previously part of the Soviet Union. This mirrors China’s own claims to Taiwan despite the island country’s leaders denying it’s part of China.
All of this has led to negative sentiment for Chinese stocks lately as many shares have been slipping these last few weeks. Let’s dive deeper into that with breakdowns of how some companies are falling below!
Chinese Stocks Slipping
- Alibaba (NYSE:BABA) stock is falling 1.4% as of Friday morning with nearly 8 million units traded. The e-commerce company’s daily average trading volume is around 22.5 million shares.
- Xpeng (NYSE:XPEV) shares are next with the stock dropping 4.2% as more than 4 million shares change hands. The electric vehicle (EV) company’s daily average trading volume is closer to 10 million shares.
- Li Auto (NASDAQ:LI) stock joins the list with shares down 2.4% as over 2 million units have been traded. The EV company’s daily average trading volume is about 8.1 million shares.
- JD.Com (NASDAQ:JD) shares are dipping 4.7% as of this writing with some 4 million shares on the move. The internet company’s daily average trading volume is roughly 10.7 million shares.
- Baidu (NASDAQ:BIDU) stock is heading 4.1% lower this morning as less than 1 million shares change hands as of Friday morning. The Chinese tech company’s daily average trading volume is about 3.3 million shares.
- Tencent (OTCMKTS:TCEHY) shares close us out with shares decreasing 3.1% in morning trading as around 800,000 units change hands. The entertainment company’s daily average trading volume is about 4.8 million shares.
Investors searching for more stock market news for Friday are in luck!
We’ve got all the latest stock news that traders need to know about for today. That includes what’s happening with shares of Costco (NASDAQ:COST) stock, Nio (NYSE:NIO) stock, and Teucrium Wheat (NYSEARCA:WEAT) stock today. You can catch up on this news at the links below!
More Friday Stock Market News
- Is COST Stock a Buy After Earnings? 3 Analysts Weigh In on Costco.
- EV News: Why Is NIO Stock Down Today?
- Why Is the Teucrium Wheat (WEAT) ETF Up Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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