Shares Of China Shares Lower Premarket On Weak Export Data Reported Late Tuesday
Portfolio Pulse from Charles Gross
Shares of Chinese companies listed in the US are trading lower premarket due to weak export data reported late Tuesday, potentially affecting stocks such as BABA, BIDU, FXI, JD, NIO, and PDD.
June 07, 2023 | 8:51 am
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NEGATIVE IMPACT
Alibaba's stock may face downward pressure in the short term due to weak Chinese export data.
As a major Chinese company, Alibaba's stock is sensitive to economic indicators such as export data. The weak export data may signal a slowdown in the Chinese economy, which could negatively impact Alibaba's business and stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Baidu's stock may experience short-term decline due to weak Chinese export data.
Baidu, as a major Chinese company, is also sensitive to economic indicators such as export data. The weak export data may signal a slowdown in the Chinese economy, which could negatively impact Baidu's business and stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI) may decline in the short term due to weak Chinese export data.
FXI tracks the performance of large-cap Chinese companies. Weak export data may signal a slowdown in the Chinese economy, which could negatively impact the performance of the companies in the ETF and, consequently, the ETF's price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
JD.com's stock may face downward pressure in the short term due to weak Chinese export data.
As a major Chinese company, JD.com's stock is sensitive to economic indicators such as export data. The weak export data may signal a slowdown in the Chinese economy, which could negatively impact JD.com's business and stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NIO's stock may experience short-term decline due to weak Chinese export data.
NIO, as a major Chinese company, is also sensitive to economic indicators such as export data. The weak export data may signal a slowdown in the Chinese economy, which could negatively impact NIO's business and stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Pinduoduo's stock may face downward pressure in the short term due to weak Chinese export data.
As a major Chinese company, Pinduoduo's stock is sensitive to economic indicators such as export data. The weak export data may signal a slowdown in the Chinese economy, which could negatively impact Pinduoduo's business and stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80