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Asian Bloodbath Continues: Alibaba, XPeng Shed 2%, Yuan Hits Weakest Levels Since 2008

Hong Kong shares opened lower on Wednesday, with the benchmark Hang Seng slipping 2.5%, taking cues from the S&P 500 which fell deeper into the bear territory after hitting a near two-year low. The Chinese yuan hit its lowest level since 2008 and was trading at 7.2296 against the dollar on Wednesday.

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Why JD.com Shares Are Rising

JD.Com Inc (NASDAQ: JD) shares are trading higher by 2.50% to $53.62 Monday afternoon, rebounding following recent weakness. Shares of Chinese companies at large are trading higher, strength may be due to hopes of China easing COVID-era restrictions for travelers in Macau.

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Alibaba Rises, Nio Muted But EV Rivals Rally: Hong Kong Stocks Buck The Trend As Asia Markets Bleed

Hong Kong shares opened in the green on Monday, defying a wider Asia trend as most markets in the region were still plagued by negative sentiment triggered by the U.S. Federal Reserve's aggressive rate hike and outlook.  The benchmark Hang Seng was 0.27% higher in early trading, while bourses in South Korea and Japan plunged over 2%.

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Alibaba, XPeng Fall Over 1%: Hang Seng Opens Weaker As Investors Continue To Gauge Impact Of US Fed Rate Projections

Hong Kong stocks opened in the red on Friday, with shares of Alibaba and XPeng falling over 1% each as investors continued to gauge the U.S. Federal Reserve’s rate projections for tackling inflation. The Hang Seng Index fell 0.34% at the open and continues to trade near its 2011 lows.

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