{"id":85373,"date":"2023-11-16T14:21:36","date_gmt":"2023-11-16T19:21:36","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/nio-baidu-and-other-china-stocks-slump-after-xi-biden-summit-alibabas-warning\/"},"modified":"2023-11-16T14:21:37","modified_gmt":"2023-11-16T19:21:37","slug":"nio-baidu-and-other-china-stocks-slump-after-xi-biden-summit-alibabas-warning","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=85373","title":{"rendered":"NIO, Baidu, and Other China Stocks Slump After Xi-Biden Summit, Alibaba&#8217;s Warning"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000802458\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Chinese stocks were slumping early Thursday after a high-profile summit between Presidents Joe Biden and Xi Jinping, and a warning from<br \/>\n        Alibaba<span>.<\/span>\n      <\/p>\n<p>Shares of e-commerce giant Alibaba (ticker: BABA) dived down 8.2%.<br \/>\n        JD.com<br \/>\n       stock slumped 3.2%, while<br \/>\n        Baidu<br \/>\n       (BIDU) fell 3.2%. Electric-vehicle makers also declined, with<br \/>\n        NIO<br \/>\n       stock dropping 6.7%,<br \/>\n        XPeng<br \/>\n       (XPEV) down 3.3%, and<br \/>\n        Li Auto<br \/>\n       (LI) 2.7% lower.<\/p>\n<div class=\"paywall\">\n<p>Alibaba reported earnings Thursday, but the results quickly took a back seat. While profits were a beat, it said it would not spin off its cloud division as planned, as expanded U.S. export controls on chips have created uncertainty for the business.\u00a0<\/p>\n<p>Wednesday\u2019s summit in San Francisco produced warm words between the heads of state of the world\u2019s two largest economies in their first meeting in a year. They also agreed to resume direct communications between their two militaries. But little was said about the tit-for-tat tariffs the U.S. and Chinese governments have placed on goods, such as semiconductors or battery parts.<\/p>\n<p>Chinese markets closed down on Thursday. The Shanghai composite lost 0.7%. Hong Kong\u2019s<br \/>\n      Hang Seng Index fell 1.4%.<\/p>\n<p>Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/alibaba-jd-com-nio-stocks-slump-08872a37?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese stocks were slumping early Thursday after a high-profile summit between Presidents Joe Biden and Xi Jinping, and a warning from Alibaba. Shares of e-commerce giant Alibaba (ticker: BABA) dived down 8.2%. JD.com stock slumped 3.2%, while Baidu (BIDU) fell 3.2%. Electric-vehicle makers also declined, with NIO stock dropping 6.7%, XPeng (XPEV) down 3.3%, and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":56681,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-85373","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NIO, Baidu, and Other China Stocks Slump After Xi-Biden Summit, Alibaba&#039;s Warning | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Chinese stocks were slumping early Thursday after a high-profile summit between Presidents Joe Biden and Xi Jinping, and a warning from Alibaba. 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