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Shares of major tech companies slide in Hong Kong today

Benzinga Real-time News ·  Jul 12, 2022 02:38

Shares of U.S.-listed Chinese companies traded mostly lower in Hong Kong on Tuesday, with major tech stocks like $BABA-SW(09988.HK)$, $TENCENT(00700.HK)$, $BIDU-SW(09888.HK)$, and $JD.com, Inc.-SW(09618.HK)$ deep in the red.

In the electric vehicle segment, $XPENG-W(09868.HK)$ and $NIO-SW(09866.HK)$ cracked at least 2% during the early trading hours. 

Here's How Nio, Xpeng, Li Auto Are Faring In Hong Kong
StocksMovement (+/-)
Alibaba-5%
Tencent-1.17%
Baidu-1.52%
JD.com-1.45%
Nio-4.98%
Xpeng-2.97%
Li Auto-0.28%

Global Markets Recap: At press time, the benchmark $Hang Seng Index(800000.HK)$ fell 1.19% to its lowest level in three weeks.

In the U.S., the $Dow Jones Industrial Average(.DJI.US)$ ended 0.52% lower as investors prepared for the start of the second-quarter earnings season.

Elsewhere, Shanghai's SSE Composite Index was down 0.46%, Japan's Nikkei 225 shed 1.69%, while Singapore's SGX Nifty gained 0.21%.

Company In News: Tencent's new mobile game "Dark Zone Breakout" will officially launch on July 13. The game has been tested several times in the past year and has so far received positive feedback from players, according to Pandaily.

Ieq Capital LLC increased its stake in JD.com by 7.0% in the first quarter, according to the Securities & Exchange Commission filing, Defense World reported.

EV maker Nio on Monday announced that it was forming a board-level committee to look into claims by the short-selling firm. Grizzly Research, which alleged Nio of inflating its revenue and profitability.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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