Shares of Chinese stocks are trading lower following Caixin Services PMI data, which showed slower-than-expected August service sector activity growth.
Portfolio Pulse from Benzinga Newsdesk
Chinese stocks are trading lower due to slower-than-expected growth in August service sector activity, as indicated by Caixin Services PMI data.
September 05, 2023 | 1:54 pm
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NEGATIVE IMPACT
Baidu's stock is trading lower due to disappointing Caixin Services PMI data.
As a Chinese company, Baidu's stock is directly impacted by the overall economic performance in China. The slower-than-expected service sector growth indicates a potential slowdown in the economy, which could negatively affect Baidu's business.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Bilibili's stock is trading lower due to disappointing Caixin Services PMI data.
As a Chinese company, Bilibili's stock is directly impacted by the overall economic performance in China. The slower-than-expected service sector growth indicates a potential slowdown in the economy, which could negatively affect Bilibili's business.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
iQIYI's stock is trading lower due to disappointing Caixin Services PMI data.
As a Chinese company, iQIYI's stock is directly impacted by the overall economic performance in China. The slower-than-expected service sector growth indicates a potential slowdown in the economy, which could negatively affect iQIYI's business.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Li Auto's stock is trading lower due to disappointing Caixin Services PMI data.
As a Chinese company, Li Auto's stock is directly impacted by the overall economic performance in China. The slower-than-expected service sector growth indicates a potential slowdown in the economy, which could negatively affect Li Auto's business.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
NetEase's stock is trading lower due to disappointing Caixin Services PMI data.
As a Chinese company, NetEase's stock is directly impacted by the overall economic performance in China. The slower-than-expected service sector growth indicates a potential slowdown in the economy, which could negatively affect NetEase's business.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Pinduoduo's stock is trading lower due to disappointing Caixin Services PMI data.
As a Chinese company, Pinduoduo's stock is directly impacted by the overall economic performance in China. The slower-than-expected service sector growth indicates a potential slowdown in the economy, which could negatively affect Pinduoduo's business.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Tencent Music's stock is trading lower due to disappointing Caixin Services PMI data.
As a Chinese company, Tencent Music's stock is directly impacted by the overall economic performance in China. The slower-than-expected service sector growth indicates a potential slowdown in the economy, which could negatively affect Tencent Music's business.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100