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2024-01-17

What a disappointment market..

Chinese ADRs Tumble As China's Growth Misses Consensus, Home Prices Slump

Hot Chinese ADRs slumped in premarket trading Wednesday after a government report on growth in China’s economy trailed market consensus and home prices slipped. Fund managers are trimming their allocations on Chinese companies, with policymakers hobbled by inadequate monetary stimulus. Alibaba fell 3%, NIO fell 4%; Pinduoduo, JD.com and Baidu fell about 5%, XPeng fell 7%.

Chinese ADRs Tumble As China's Growth Misses Consensus, Home Prices Slump

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