China ADRs trade lower ahead of Alibaba results
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Dow Jones
Chinese ADRs were mostly lower in premarket trade ahead of Alibaba's results, and after a meeting between U.S. President Joe Biden and China President Xi Jinping didn't result in new agreements on the economic front. Alibaba (BABA), Nio (NIO), XPeng (XPEV) and Li Auto (LI) each were trading about 3% lower, as the Hang Seng (HK:HSI) fell nearly 2%, in a session that also was colored by results from Tencent (HK:700). Alibaba's investor call is due to start at 7:30 a.m. Eastern.
-Steve Goldstein
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11-16-23 0541ET
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