Alibaba, Chinese Tech Stocks And EV Stocks NIO, XPeng, Li Auto Tumble After Disappointing Economic Report
Portfolio Pulse from Anusuya Lahiri
Alibaba and other Chinese tech and EV stocks, including NIO, XPeng, and Li Auto, are trading lower after China's Q2 economic growth missed expectations. The economy grew by 4.7%, below the 5.1% forecast, with a property downturn and job insecurity stalling recovery. Analysts expect more policy easing to counteract the slowdown.
July 15, 2024 | 10:59 am
News sentiment analysis
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NEGATIVE IMPACT
Alibaba shares are trading lower by 2% in the premarket session after China's Q2 economic growth missed expectations, growing by 4.7% instead of the forecasted 5.1%.
Alibaba's performance is closely tied to China's economic health. The slower-than-expected growth impacts investor sentiment negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Baidu shares are trading lower after China's Q2 economic growth came in at 4.7%, missing the 5.1% forecast, affecting investor sentiment.
Baidu's stock is impacted by the slower economic growth in China, which affects overall market sentiment and investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Bilibili shares are trading lower after China's Q2 economic growth came in at 4.7%, missing the 5.1% forecast, affecting investor sentiment.
Bilibili's stock is impacted by the slower economic growth in China, which affects overall market sentiment and investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
JD.Com shares are trading lower following China's Q2 economic growth report, which showed a 4.7% increase versus the expected 5.1%.
JD.Com is affected by the overall economic slowdown in China, which impacts consumer spending and investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Li Auto shares are trading lower following China's disappointing Q2 economic growth report, which showed a 4.7% increase versus the expected 5.1%.
Li Auto is affected by the overall economic slowdown in China, which impacts consumer spending and investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NIO shares are trading lower following China's disappointing Q2 economic growth report, which showed a 4.7% increase versus the expected 5.1%.
NIO is affected by the overall economic slowdown in China, which impacts consumer spending and investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
PDD Holdings shares are trading lower following China's disappointing Q2 economic growth report, which showed a 4.7% increase versus the expected 5.1%.
PDD Holdings is affected by the overall economic slowdown in China, which impacts consumer spending and investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
XPeng shares are trading lower after China's Q2 economic growth came in at 4.7%, missing the 5.1% forecast, affecting investor sentiment.
XPeng's stock is impacted by the slower economic growth in China, which affects overall market sentiment and investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80