Shares of Chinese stocks are trading lower after China's Q2 GDP missed the consensus estimates.
Portfolio Pulse from Benzinga Newsdesk
Chinese stocks are trading lower following China's Q2 GDP missing consensus estimates. Stocks mentioned include BABA, BEKE, JD, and PDD.
July 17, 2023 | 3:02 pm
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NEGATIVE IMPACT
Alibaba's stock is trading lower due to China's Q2 GDP missing consensus estimates.
As a major Chinese company, Alibaba's stock price is sensitive to macroeconomic indicators such as GDP. The lower than expected GDP figures suggest a slower economic growth, which could negatively impact Alibaba's future earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
BEKE's stock is trading lower due to China's Q2 GDP missing consensus estimates.
BEKE, being a Chinese company, is affected by the country's economic performance. The lower than expected GDP figures suggest a slower economic growth, which could negatively impact BEKE's future earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
JD.com's stock is trading lower due to China's Q2 GDP missing consensus estimates.
As a major Chinese company, JD.com's stock price is sensitive to macroeconomic indicators such as GDP. The lower than expected GDP figures suggest a slower economic growth, which could negatively impact JD.com's future earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Pinduoduo's stock is trading lower due to China's Q2 GDP missing consensus estimates.
As a major Chinese company, Pinduoduo's stock price is sensitive to macroeconomic indicators such as GDP. The lower than expected GDP figures suggest a slower economic growth, which could negatively impact Pinduoduo's future earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100