Why Alibaba, Tech Peers Are Not Trading In Hong Kong Today

Shares of U.S.-listed Chinese companies Alibaba (NYSE:BABA) Group Holdings Ltd. (NYSE: BABA), JD.Com Inc. (NASDAQ: JD), Nio Inc. (NYSE: NIO), XPeng Inc. (NYSE: XPEV) are not trading in Hong Kong on Monday as local markets remain closed for a public holiday.

The benchmark Hang Seng is closed on the occasion of Easter, although markets in mainland China are open.

China-based U.S-listed firms will trade on American exchanges on Monday.

Factors At Play: Since the second outbreak of COVID-19 in China’s economic hub Shanghai, the country reported its first deaths today, as per Bloomberg.

According to CNN, at least 44 Chinese cities are under either a full or partial lockdown as authorities grapple with curbing the spread of COVID-19.

Meanwhile, Hong Kong confirmed 747 new coronavirus cases on Sunday as residents stepped out during the long-weekend Easter break after restrictions were eased.

See Also: Analyst Details Tesla’s Giga Shanghai Reopening Plans: Here’s How It Works

Read at Benzinga

Read the original article on Benzinga

Comments