What's Going On With US Listed Chinese Firms Alibaba, JD, Baidu Stocks On Thursday?

Quick Summary:

The down move follows the International Monetary Fund (IMF) lowering China’s 2024 economic growth forecast to 4.8%, down from the previous 5% estimate, due to declining consumer confidence and ongoing property market challenges.

The IMF cautioned that further drops in home prices could erode consumer confidence, reduce household spending, and weaken domestic demand.

US-listed Chinese stocks Alibaba Group Holding (NYSE:BABA), JD.com, Inc (NASDAQ:JD), and Baidu, Inc (NASDAQ:BIDU) are trading lower Thursday.

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Article Details

Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United StatesChina

Topics: BABA JD AI Generated Media BIDU Stories That Matter Tech Benzinga US0567521085 Emerging Markets News Briefs Top Stories Government

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-24 @ 13:12:45 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 376 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23224810

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