Li Auto Inc (NASDAQ:LI), Nio Inc – ADR (NYSE:NIO) and XPeng Inc – ADR (NYSE:XPEV) shares are all trading lower Wednesday morning. Shares of Chinese companies at large are trading lower following soft China export data.
What Happened?
Our Benzinga team reported that shipments to the U.S. tumbled by 25.43% Y/Y in November, while exports to the European Union fell by 10.62% Y/Y.
Meanwhile, November exports declined 8.7% year-on-year to $296 billion after falling 0.3% in October, the SCMP reports.
Ding Shuang, chief Greater China economist at Standard Chartered Bank, saw the downturn in Chinese exports continue relatively long as global macros weighed…Read More
According to data from Benzinga Pro:
- LI is trading lower by 3.07% to $22.39
- NIO is lower by 6.34% to $12.40
- XPEV is lower by 9.67% to $10.56
