Several Chinese stocks fell along with the broader markets
Shares of New Oriental Education & Technology Group $New Oriental (EDU.US)$ had fallen 6%, shares of the electric vehicle maker Nio $NIO Inc (NIO.US)$ traded roughly 5% lower, and Alibaba $Alibaba (BABA.US)$ traded nearly 6% down.
While the Chinese government takes COVID very seriously, it is also now very worried about hitting year-end economic growth targets, which should provide incentive for it to support businesses and the economy.
The Chinese government has also now voiced support for Chinese tech stocks, started working to end a decades-long auditing dispute with U.S. regulators.
$EAST BUY (01797.HK)$ $BABA-SW (09988.HK)$ $EAST BUY (01797.HK)$
While the Chinese government takes COVID very seriously, it is also now very worried about hitting year-end economic growth targets, which should provide incentive for it to support businesses and the economy.
The Chinese government has also now voiced support for Chinese tech stocks, started working to end a decades-long auditing dispute with U.S. regulators.
$EAST BUY (01797.HK)$ $BABA-SW (09988.HK)$ $EAST BUY (01797.HK)$
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Btan : Alibaba is UP
71229336Bedbugguy : Nio is up 3% HK now
Hotbuns OP 71229336Bedbugguy : I mean NIO in US, not HK
Hotbuns OP Btan : I mean $Alibaba (BABA.US)$ here, not $BABA-SW (09988.HK)$
Hotbuns OP 71229336Bedbugguy : but you're right it's up nearly 3% in HK![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
whqqq Btan : yes but I think what he/she said was BABA HK