Shares of Chinese stocks are trading lower amid reports suggesting Chinese manufacturing may have contracted in June.
Portfolio Pulse from Benzinga Newsdesk
Chinese stocks are trading lower due to reports suggesting a contraction in Chinese manufacturing in June. Stocks mentioned include Alibaba (BABA), Baidu (BIDU), and Pinduoduo (PDD).
June 29, 2023 | 3:18 pm
News sentiment analysis
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NEGATIVE IMPACT
Alibaba's stock is trading lower due to reports of a contraction in Chinese manufacturing.
As a major Chinese company, Alibaba's stock is likely to be negatively impacted by any contraction in the Chinese manufacturing sector.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Baidu's stock is trading lower due to reports of a contraction in Chinese manufacturing.
As a major Chinese company, Baidu's stock is likely to be negatively impacted by any contraction in the Chinese manufacturing sector.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Pinduoduo's stock is trading lower due to reports of a contraction in Chinese manufacturing.
As a major Chinese company, Pinduoduo's stock is likely to be negatively impacted by any contraction in the Chinese manufacturing sector.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70