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Stock impact report

China Market Update: Election Jitters As China Portfolio Managers Buy [Forbes]

CHINA CONSTR BK UNSP/ADR (CICHY) 
NASDAQ:AMEX Investor Relations: ccb.com/en/newinvestor/index.html
Company Research Source: Forbes
Hong Kong and Mainland China faced several headwinds, or as I like to say, had the kitchen sink thrown at them going into the trading day. AMD's disappointing financial results, reported after the US close yesterday, weighed on the semiconductor space. Hua Hong Semiconductor closed lower by -4.63%, and Semiconductor Manufacturing International (SMIC) fell by -7.32% in Hong Kong and by -7.02% in Mainland China. The EU is moving forward with electric vehicle (EV) tariffs and anti-subsidy taxes on China for five years, as cooperating companies will be tariffed at a 20.70% rate, while non-cooperating companies will be tariffed at a 35.30% rate. The news hit Hong Kong-listed BYD, as it fell by -0.67% (17% tariff), Li Auto fell -2.51%, Nio fell -6.58%, Geely Auto fell -2.96% (18.8% tariff), Great Wall fell -2.72%, and XPeng fell by -3.92%. Tesla will be tariffed at 7.80%. PetroChina reported financial results yesterday, and fell -1.10% in Mainland China and -0.34% in Hong Kong, which w Show less Read more
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