KraneShares CSI China Internet ETF (KWEB) Tests Low, Down 16.3% Amid Ongoing Rout in China Stocks
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Deutsche Bank Unsurprised Following Tesla (TSLA) Price Cuts
October 25, 2022 7:21 AM EDTShares of Tesla (NASDAQ: TSLA) are down 0.73% in pre-market trading on Tuesday after price cuts saw the electric vehicle stock close at 211.25 on Monday, down 1.49%. Chinese electric vehicle stocks followed suit with declines averaging 15% compared to the NASDAQs +1%. Deutsche Bank attributes this weakness to negative surprise around the new Chinese leadership selection, lack of updates surrounding COVID zero policies, and concerns following Teslas price cuts.
Tesla lowered the domestic China price for their Model 3 and Model Y by around 5% on Monday. The cuts were not unexpected and should not come... More
U.S. Listed Chinese Stocks Tumble On Concerns About Xi's Third Term
October 24, 2022 12:02 PM EDTChinese companies listed on U.S. exchanges experienced a sharp decline on Monday due to investor worries that Chinese President Xi Jinping's policies, which have resulted in a slowing economy, will continue.
Xi Jinping was confirmed as leader of the CCP for a third five-year term. There has been a... More
