What's Going On With Alibaba And Other Chinese Stocks On Tuesday?
Portfolio Pulse from Anusuya Lahiri
Chinese tech and electric vehicle stocks, including Alibaba, PDD, Baidu, JD.com, Bilibili, NIO, and Li Auto, are trading lower as China is expected to keep interest rates unchanged. Alibaba missed its Q1 earnings estimates, with a 29% profit drop.
August 20, 2024 | 1:51 pm
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Alibaba's stock is down 2.04% as it missed Q1 earnings estimates, with a 29% profit drop. The company reported $33.47 billion in revenue, missing the $34.81 billion consensus.
Alibaba's significant earnings miss and profit drop are critical factors affecting its stock price negatively. The company's performance is a benchmark for the domestic economy, making this news highly relevant and important for investors.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Baidu's stock is down 1.53% as part of a broader decline in Chinese tech stocks with China likely keeping interest rates unchanged.
Baidu's stock is affected by the overall negative sentiment in Chinese tech stocks due to economic challenges and unchanged interest rates.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Bilibili's stock is trading lower as part of a broader decline in Chinese tech stocks with China likely keeping interest rates unchanged.
Bilibili's stock is affected by the overall negative sentiment in Chinese tech stocks due to economic challenges and unchanged interest rates.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
JD.com's stock is trading lower as part of a broader decline in Chinese tech stocks with China likely keeping interest rates unchanged.
JD.com's stock is impacted by the general negative trend in Chinese tech stocks due to economic uncertainties and unchanged interest rates.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Li Auto's stock is trading lower as part of a broader decline in Chinese electric vehicle stocks with China likely keeping interest rates unchanged.
Li Auto's stock is affected by the overall negative sentiment in Chinese EV stocks due to economic challenges and unchanged interest rates.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
NIO's stock is trading lower as part of a broader decline in Chinese electric vehicle stocks with China likely keeping interest rates unchanged.
NIO's stock is impacted by the general negative trend in Chinese EV stocks due to economic uncertainties and unchanged interest rates.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
PDD Holdings' stock is down 1.44% amid broader declines in Chinese tech stocks as China is expected to keep interest rates unchanged.
PDD's stock decline is part of a broader trend among Chinese tech stocks due to economic uncertainties and unchanged interest rates, impacting investor sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80