XPeng Inc – ADR (NYSE:XPEV) shares are trading lower by 1.7% to $9.48 Monday morning. The stock is trading lower amid ongoing weakness in U.S.-listed Chinese stocks after China recently missed GDP and retail sales estimates. Hong Kong stocks also hit a 15-month low overnight, with the Hang Seng Index down 2.3%.
What’s Going On In China?
Hong Kong stocks, including the Hang Seng Index and Hang Seng Tech Index, have recently hit a 15-month low due to concerns among investors about China’s economic recovery and unchanged key lending rates.
The Hang Seng Index dropped 2.3%, reaching a level not seen since October 2022, while the Hang Seng Tech Index sank 3%, hitting its lowest point since April 2020.
Mainland Chinese markets also saw significant declines, with the Shanghai Composite Index falling 2.7% and the Shenzhen Composite Index plunging 4.5%…Read More
According to data from Benzinga Pro, XPEV has a 52-week high of $23.62 and a 52-week low of $7.50.
