American-listed chinese stocks tumble under bears pressure 📉

Shares of U.S.-listed Chinese companies are losing mightily on the wave of the Chinese stock market crash and concerns about possible delisting from U.S. trading floors:

• Xi Jinping's victory has raised concerns around China's authoritarian, business-unfriendly government. Additionally, Xi has appointed his supporters to one of China's key decision-making bodies;
• Covid Zero policy may be prolonged, and the investment climate in China may worsen for both domestic and international companies;
• Strained Washington-Beijing relations may lead to tighter regulation of business cooperation; Companies basing their business model on bilateral cooperation between the two countries are bracing themselves for a likely worse period;
• Macro data from China for Q3 had a mixed tone and did not confirm the positive recovery that bulls were hoping for. Although GDP grew, consumption slowed markedly in September, unemployment rose and the real estate crisis continues to extend;

Tencent (TME.US) -14.5%, Alibaba (BABA.US) -15.5%, Baidu (BIDU.US) -16%, Weibo (WB.US) -16.5%, Yum China (YUMC.US) -12%, NIO (NIO.US) -17%, New Oriental (EDU.US) -20%.

The list of the worst performing stocks after the US opening today is dominated by Chinese companies. Source: xStation5Tencent (TME.US) shares, D1 interval. The decline in the stock reaches nearly 15% today, with RSI indicating levels close to oversold. The share price of the U.S.-listed Chinese entertainment and gaming giant has fallen more than 85% from its peaks in early 2021. Source: xStation5