Chinese tech stocks dip amid rate hike woes [Seeking Alpha]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
Last alibaba group holding limited american depositary shares each representing eight ordinary share earnings: 2/13 06:45 am
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Source: Seeking Alpha
Several Chinese tech stocks also ended the day in red on the Hong Kong Stock exchange — Alibaba ( NYSE: BABA ), Baidu ( NASDAQ: BIDU ), JD.com ( NASDAQ: JD ), Bilibili ( NASDAQ: BILI ) were all down ~3% , while Weibo ( WB ) fell ~4% and Tencent ( OTCPK:TCEHY OTCPK:TCTZF ) lost ~2% Real estate stocks were among the biggest decliners in Hong Kong. The Hang Seng Index declined ~2.7% — its biggest drop since June, CNN reported The market benchmark is one of the world's worst performers this year, having declined ~13% year-to-date. The Chinese and South Korean markets remained closed for public holidays. The KraneShares CSI China Internet ETF ( KWEB ) and the Invesco Golden Dragon China ETF ( PGJ ) have dipped ~2% on Tuesday. In spite of a recent improvement in data, investors are concerned about China's economic slowdown, a property market slump, and an unease between the Asian nation and the U.S. which has caught tech companies in the crosshairs. Market sentiment was also im
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