Shares of large-cap Chinese stocks are trading lower following a drop in China industrial profit in May.
Portfolio Pulse from Benzinga Newsdesk
Large-cap Chinese stocks, including Alibaba (BABA) and JD.com (JD), are trading lower due to a decrease in China's industrial profit in May.
June 28, 2023 | 2:26 pm
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NEGATIVE IMPACT
Alibaba's stock is trading lower due to a decrease in China's industrial profit.
As a large-cap Chinese company, Alibaba's stock price is sensitive to economic indicators such as industrial profit. The reported decrease in China's industrial profit for May has led to a drop in Alibaba's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
JD.com's stock is trading lower due to a decrease in China's industrial profit.
As a large-cap Chinese company, JD.com's stock price is sensitive to economic indicators such as industrial profit. The reported decrease in China's industrial profit for May has led to a drop in JD.com's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100