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地板
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發表於 2019-9-28 15:13:59
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只看該作者
Barron’s, September 27
Alibaba and Other China Stocks Plunge on Report White House Is Taking Aim
Chinese stocks listed in the U.S. plunged Friday, following report that the White House is considering ways to limit U.S. investments in China amid the protracted trade dispute between the world’s two largest economies.
Alibaba Group Holding and other Chinese stocks plunged Friday, following report that the White House is considering ways to limit U.S. investments in China amid the protracted trade dispute between the world’s two largest economies.
E-commerce giant Alibaba (ticker: BABA), one of the most high-profile Chinese companies listed in the U.S., saw the price of its American depositary receipts tumble more than 5%. The ADRs of Chinese tech giants Tencent Holdings (TCEHY) and Baidu (BIDU) dropped wider than 2.0%. Alibaba’s e-commerce rivals JD.com (JD) and Pinduoduo (PDD) both lost more than 5.0%, while China’s Starbucks (SBUX) challenger and one of the most-watched initial public offerings this year, Luckin Coffee (LK), slumped as much as 7.2%.
Smaller companies, which might be more severely impacted by the potential move from the Trump administration, saw an even bigger impact to their share prices. China TechFaith Wireless Communication Technology (CNTFY), a technology-hardware company, tumbled 10% Friday. The iShares MSCI China ETF (MCHI)—dominated by Alibaba and Tencent with a 14% weight in each company—dropped as much as 1.9%. |
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