Why Are Chinese Stocks BABA, JD, PDD, NIO Down Today?

Investors in Chinese stocks are noticing a trend today as many major players in the market are seeing their shares fall.

The biggest factor affecting Chinese stocks today is the real estate market struggling. That matters to more than just real estate stocks as it has a strong effect on China’s economy. The biggest problem the sector is facing is a lack of demand for new housing.

Rather than seek out new homes, residents in China are instead favoring rental properties. That’s resulted in high demand for apartments while also seeing some developers building ghost towns due to dwindling demand for houses.

Adding to this pressure is Country Garden’s ongoing financial troubles. It’s the largest home developer in the country not owned by the state. Looming is a payment it needs to make within 30 days that have some investors worried, CNBC notes.

Let’s get into Chinese stocks that are falling today below!

Chinese Stocks Down On Friday

  • Alibaba (NYSE:BABA) stock is down 3.3% as of Friday morning.
  • JD.Com (NASDAQ:JD) shares are dropping 5% as of this writing.
  • PDD Holdings (NASDAQ:PDD) stock is taking a 3.7% beating this morning.
  • Nio (NYSE:NIO) closes out our Chinese stocks that are down today with its shares sliding 4.4% lower as of this morning.

Investors interested in more than just Chinese stocks will want to keep reading!

We’ve got all of the latest stock market news that traders need to know about on Friday! Among that is what has shares of AMC Entertainment (NYSE:AMC), Athersys (NASDAQ:ATHX), and Farfetch (NYSE:FTCH) stock on the move today. All of that news is ready to go at the links below!

More Friday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/08/why-are-chinese-stocks-baba-jd-pdd-nio-down-today/.

©2023 InvestorPlace Media, LLC

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