Chinese technology stocks experienced a notable downturn. Among the hardest hit were XPeng Inc. (XPEV, Financial) and Futu Holdings (FUTU), both dropping over 6%. Bilibili Inc. (BILI) and JD.com Inc. (JD) fell more than 5%, while Li Auto Inc. (LI) experienced a nearly 5% decline. Alibaba Group Holding (BABA) saw its shares fall by over 3%, and both Pinduoduo Inc. (PDD) and Baidu Inc. (BIDU) dropped close to 3%.
The downturn reflects a volatile period for the tech sector, particularly for Chinese firms listed on international exchanges. Market dynamics, regulatory concerns, and broader economic factors continue to influence investor sentiment and stock performance.
