Chinese Tech Stocks Face Decline: Tencent Music, Kingsoft Cloud Lead Losses

Nov 12, 2024

The Nasdaq Golden Dragon China Index witnessed a significant drop, expanding its losses to 4%. Key Chinese technology stocks recorded substantial declines.

Tencent Music (TME, Financial) fell over 8.4%, while Kingsoft Cloud (KC) experienced a drop exceeding 7.9%. Meanwhile, Xpeng Motors (XPEV) decreased by 7.2%.

Other major companies like JinkoSolar, NIO (NIO), and TAL Education saw their shares decline by at least 6.2%. JD.com (JD), MINISO Group, Boss Zhipin, EHang Holdings, Li Auto (LI), and Zai Lab also registered losses of at least 5.4%.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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