Shares of multiple Chinese companies, including Alibaba Group Holding Ltd - ADR (NYSE:BABA), Nio Inc - ADR Class A (NYSE:NIO) and Baidu Inc (NASDAQ:BIDU), are trading lower following reports the SEC has identified multiple US-listed ADRs as having not adhered to the Holding Foreign Companies Accountable act. The continued Russia-Ukraine conflict could also be impacting Chinese stocks.
Selling pressure in Chinese names may also be stemming from the sell-off in ride-hailing giant DiDi Global Inc (NYSE:DIDI). The ride-hailing giant had to pull the brakes on its Hong Kong listing as it failed to satisfy China's concerns over a sensitive data leak, Bloomberg reports…Read More
Alibaba is trading lower by 5.20% at $88.09.
Nio is trading lower by 7.93% at $16.36.
Baidu is trading lower by 10.66% at $120.75.
