Chinese Stocks Alert: Why Are DIDI, BABA, JD, PDD Stocks Under Pressure Today?

Chinese stocks are feeling the heat today as many companies see their shares slip alongside a few pieces of news from Wednesday!

A large shopping mall in the central city is festooned with Chinese flags in celebration of the National Day after the victory against the Covid-19 epidemic representing Chinese Stocks.

Source: humphery / Shutterstock.com

Let’s jump right into that below to see what has shares of Chinese stocks falling today!

Chinese Stocks Taking a Beating

  • DiDi Global (NYSE:DIDI) stock is first on our list with the company’s shares dropping 3.5% as of Wednesday afternoon. This comes after the U.S. Securities and Exchange Commission (SEC) announced a probe into the company’s 2021 initial public offering (IPO). On top of that, a shareholder meeting over delisting the stock is coming up later this month.
  • Alibaba (NYSE:BABA) shares are next with the company’s stock falling 1.7% as of this writing. That follows reports of the company’s founder, Jack Ma, being arrested. These turned out to be false but that couldn’t stop shares of BABA from losing ground today.
  • JD.com (NASDAQ:JD) stock joins our list with shares heading 1.7% lower as of Wednesday afternoon. That’s despite the company announcing a special cash dividend. Instead, it looks like the stress on Chinese stocks is pulling it down.
  • Pinduoduo (NASDAQ:PDD) is our last Chinese stock falling today with a 2.6% decline this afternoon. There’s no specific news behind this so it’s likely moving in sympathy with the other stocks in its sector.

Investors looking for more stock market news on Wednesday are in luck!

We’ve got all the most recent stock market news that traders need to know about for today! Among that is what has shares of Fisker (NYSE:FSR), Lyft (NASDAQ:LYFT), and lithium stocks on the move. You can learn all about these topics by checking out the following links below!

More Wednesday 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/2022/05/chinese-stocks-alert-why-are-didi-baba-jd-pdd-stocks-under-pressure-today/.

©2022 InvestorPlace Media, LLC