Shares of Chinese internet and tech stocks are trading lower after the Cyberspace Administration of China proposed draft rules that would limit the daily phone time of minors.
Portfolio Pulse from Benzinga Newsdesk
Chinese internet and tech stocks are trading lower following the proposal of draft rules by the Cyberspace Administration of China that would limit the daily phone time of minors. This includes stocks such as BABA, BIDU, BILI, JD, PDD, WB.
August 04, 2023 | 11:31 am
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NEGATIVE IMPACT
Alibaba's stock is trading lower due to proposed regulations limiting minors' phone time in China.
The proposed regulations could potentially reduce the user base and engagement on Alibaba's platforms, leading to a negative impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Baidu's stock is trading lower due to proposed regulations limiting minors' phone time in China.
The proposed regulations could potentially reduce the user base and engagement on Baidu's platforms, leading to a negative impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Bilibili's stock is trading lower due to proposed regulations limiting minors' phone time in China.
The proposed regulations could potentially reduce the user base and engagement on Bilibili's platforms, leading to a negative impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
JD.com's stock is trading lower due to proposed regulations limiting minors' phone time in China.
The proposed regulations could potentially reduce the user base and engagement on JD.com's platforms, leading to a negative impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Pinduoduo's stock is trading lower due to proposed regulations limiting minors' phone time in China.
The proposed regulations could potentially reduce the user base and engagement on Pinduoduo's platforms, leading to a negative impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Weibo's stock is trading lower due to proposed regulations limiting minors' phone time in China.
The proposed regulations could potentially reduce the user base and engagement on Weibo's platforms, leading to a negative impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100