Barron’s, September 27 Alibaba and Other China Stocks Plunge on Report White House Is Taking Aim Chinese stocks listed in the U.S. plunged Friday, following report that the White House is considering ways to limit U.S. investments in China amid the protracted trade dispute between the world’s two largest economies. Alibaba Group Holding and other Chinese stocks plunged Friday, following report that the White House is considering ways to limit U.S. investments in China amid the protracted trade dispute between the world’s two largest economies. E-commerce giant Alibaba (ticker: BABA), one of the most high-profile Chinese companies listed in the U.S., saw the price of its American depositary receipts tumble more than 5%. The ADRs of Chinese tech giants Tencent Holdings (TCEHY) and Baidu (BIDU) dropped wider than 2.0%. Alibaba’s e-commerce rivals JD.com (JD) and Pinduoduo (PDD) both lost more than 5.0%, while China’s Starbucks (SBUX) challenger and one of the most-watched initial public offerings this year, Luckin Coffee (LK), slumped as much as 7.2%. Smaller companies, which might be more severely impacted by the potential move from the Trump administration, saw an even bigger impact to their share prices. China TechFaith Wireless Communication Technology (CNTFY), a technology-hardware company, tumbled 10% Friday. The iShares MSCI China ETF (MCHI)—dominated by Alibaba and Tencent with a 14% weight in each company—dropped as much as 1.9%.
And to think, Caixin numbers are being released Sunday night, and they could also be bad. Talk about adding fuel to the fire.
This pressure point is certainly a new twist that I for one haven’t heard about before today. Almost surely not the only one they have tucked away in the desk drawer.
Where in there do you see a complaint? And if you want to see if I am making any dough, look at my journal.
This will kill the Chinese IPO markets for U.S exchanges. I find this narrow minded of the U.S administration. U.S investors investing in Chinese companies is not a win-lose situation. If Chinese companies make money for their investors, it is win-win for both Chinese and Americans. This kind of narrow-minded petty worldview will end up hurting American interests. It's absolutely to focus on your self-interests but please have enlightened selfishness, not petty narrow selfish worldviews.