Shares of Alibaba Group Holding Limited, JD.Com Inc., Baidu Inc., and Tencent Holdings Inc. fell in Hong Kong on Monday, while Xpeng Inc. and Li Auto Inc. traded higher. What’s Moving Chinese e-commerce giant Alibaba’s shares traded 0.5 percent lower at HKD 160.30 in Hong Kong, while technology company Baidu’s shares have lost 2.0 percent to HKD 157.70 and e-commerce company JD.Com’s shares are down 0.6 percent to HKD 312.80. Tech conglomerate Tencent Holdings’ shares have fallen 1.9 percent to HKD 486.00. The tech stocks are trading lower as China’s industry regulator plans to deepen scrutiny on internet companies as part of a six-month campaign, the South China Morning Post reported. Meanwhile, electric vehicle maker Xpeng’s shares have risen 4.6 percent to HKD 165.40 and Li Auto’s shares traded 1.7 percent higher at HKD 118.10. Shares of the EV makers are rising after it was reported that peer Nio Inc. will be able to double …
Alibaba, JD Fall in Hong Kong on Regulatory Worries, Nio Rivals Xpeng, Li Auto Continue to Surge
October 18, 2021
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