Nyse Order Imbalance 403309.0 Shares On Buy Side

XPeng, Inc. ADR Sponsored Class A (XPEV) is currently at $13.64, down $1.67 or 10.88%

• On pace for largest percent decrease since April 19, 2023, when it fell 12.5%
• Snaps a three-day winning streak
• Up 21.42% month-to-date
• Down 6.55% year-to-date; on pace for worst year since 2022, when it fell 80.25%
• Down 81.11% from its all-time closing high of $72.17 on Nov. 23, 2020
• Down 19.79% from 52 weeks ago (Nov. 14, 2023), when it closed at $17.00
• Down 26.22% from its 52-week closing high of $18.48 on Nov. 24, 2023
• Up 105.66% from its 52-week closing low of $6.63 on Aug. 12, 2024
• Traded as low as $13.63
• Down 10.92% at today's intraday low; largest intraday percent decrease since Oct. 14, 2024, when it fell as much as 11.36%

All data as of 1:57:14 PM ET

Source: Dow Jones Market Data, FactSet

U.S.-listed Chinese stocks Alibaba Group Holding. , JD.com, Inc. , Baidu, Inc. , NIO Inc. , Li Auto Inc. , and XPeng Inc. continue a selloff on Tuesday as geopolitical tensions pose a dampener.

The Street remains disappointed with China’s fiscal stimulus. Donald Trump’s U.S. presidential election victory has also triggered concerns about higher tariffs for China.

Last week, China launched a fiscal stimulus package valued at 6 trillion yuan ($840 billion) to relieve local governments of their hidden debt burdens, lower than the Street’s expectations of 10 trillion yuan ($1.39 billion).

Also Read: Shopify Q3 Earnings: Ninth Consecutive Quarter of Revenue Beat, GMV Up 24%, Positive Outlook And More

Also, central authorities agreed to issue 800 billion yuan annually in special local government bonds, totaling 4 trillion yuan over the next five years.

The Street also factored in higher tariff risks as Trump, during his presidential campaign, promised to slap tariffs on Chinese imports by up to 60%.

Economic experts have voiced growing concerns about China’s economy following recent data releases and the anticipated impact of Trump’s presidency.

UBS revised its 2025 growth forecast for China downward, projecting an expansion of roughly 4%, with a steeper decline expected in 2026, Bloomberg reports.

Nomura Holdings’ Chetan Seth told Bloomberg that while China’s debt-swap plan exceeded initial expectations, the lack of measures to recapitalize banks or boost consumer spending will likely disappoint investors.

Foreign direct investment in China fell by nearly $13 billion in the year’s first nine months.

Price Actions: At the last check on Monday, BABA stock is down 4.05% at $91.56. JD is down 7.12%, BIDU is down 4.15%, NIO is down 9.20%.

Also Read:

• Taiwan Semiconductor US Expansion Plans Unfazed by Trump Win: Report

Photo by Khanthachai C on Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Chinese markets nosedived on Tuesday as news surfaced that President-elect Donald Trump is eyeing two China hawks, Sen. Marco Rubio (R-FL) and U.S. Rep. Mike Waltz (R-FL), for top roles in his administration.

The potential appointments sparked fears of a tougher U.S. stance on China, sending the Chinese yuan tumbling and stock markets sharply lower in Shanghai and Hong Kong.

Yuan, Chinese Stocks Take a Beating

In currency markets, the yuan slid past 7.4250 against the U.S. dollar, a level not seen since early August. The Shanghai Composite dropped 1.39% to close at 3,422, while the Shenzhen Component fell 0.65% to 11,314.

The Hong Kong Hang Seng Index had an even rougher day, plunging 580 points, or 2.8%, to finish at 19,847—its lowest close in six weeks.

This selloff comes amid growing concerns over a hardline shift in U.S.-China relations. Trump's rumored choice of Rubio, an outspoken critic of China, for Secretary of State, and Waltz, a NATO skeptic and China opponent, as national security adviser, suggests a more aggressive U.S. foreign policy toward Beijing.

If confirmed by the Senate, Rubio, who serves on the Senate Foreign Relations Committee, would be the first Latino to hold the position. Known for his hardline stance on China, Rubio has previously advocated for more stringent measures against Beijing on everything from trade to human rights issues.

Tech and insurance stocks bore the brunt of Tuesday's market rout in Hong Kong. Major Chinese firms saw their share prices sink, with Meituan, Lenovo, China Life Insurance and Semiconductor Manufacturing International recording daily losses between 5% and 8%.

U.S.-listed Chinese companies also experienced sharp premarket declines in New York. At 8 a.m. ET, Alibaba Group Holdings Ltd. was down 3.1%, PDD Holdings Inc. dropped 2.8%, Baidu Inc. fell 2.9%, and electric vehicle makers NIO Inc. and XPeng Inc. tumbled 4% and 6%, respectively.

Weak Credit Data Adds to Market Woes

The political tension came on the heels of lackluster credit data in China, adding to investors’ anxiety. October's new loans from Chinese banks totaled just 500 billion yuan—well below the forecast of 700 billion yuan and a sharp drop from September's figures. The disappointing credit numbers, coupled with the lowest monthly credit growth in 15 years, indicate that China's domestic demand remains fragile.

"China’s economy remains weak. The government seems to lack the will, or the way, to stimulate consumer demand," said veteran Wall Street strategist Ed Yardeni, president of Yardeni Research.

"China announced a $1.4 trillion financing package on Friday. That’s a big number, but it will mostly go to cleaning up and refinancing local government debt," Yardeni added, underscoring skepticism about Beijing's ability to spur economic growth.

David Morrison, senior market analyst at Trade Nation, attributed the market reaction to a "disappointing" fiscal stimulus package announced last week by the National People's Congress (NPC). "Investors continue to respond to the underwhelming fiscal stimulus... There's now the prospect of a huge rise in tariffs, both in size and scope, on exports to the U.S. as threatened by President-elect Donald Trump," Morrison said.

Bank of America analyst Anna Zhou echoed concerns about the limited impact of recent policy measures but sounded slightly more optimistic about the future.

"Weak loan growth for both households and corporates continues to underscore fragile domestic demand," Zhou said.

"To turn credit demand around, more policy support is warranted. The recent pivot in policy stance has been a welcoming sign... we expect more measures to be rolled out in 2025 on both monetary and fiscal fronts, which could help stabilize demand and translate into better credit growth."

Read Next:

• How Trump’s Tax Cuts, Tariffs, ‘Animal Spirits’ Could Shape S&P 500 Earnings

Photo: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Chinese EV maker XPeng Inc. officially began nationwide deliveries of its XPENG P7+ sedan in China on Nov. 11 and the company’s NYSE-listed shares are on the rise.

What Happened: The P7+ sedan was launched on November 7 with a starting price of about 186,800 yuan. Firm orders for the vehicle touched 31,528 as of 24:00 hours on the day of launch, company founder Xiaopeng He said.

The P7+ is available in three variants with the higher-end, limited-edition version starting at 218,800 yuan ($30,234).

Tesla Inc‘s Model 3 sedan, meanwhile, has a starting price of 231,900 yuan in China with the higher-end variant starting at 335,900 yuan.

Why It Matters: In October, XPeng delivered 23,917 vehicles, marking a growth of 20% year-on-year. The XPeng Mona M03 hatchback coupe alone accounted for over 10,000 deliveries.

In the ten months through the end of October, XPeng delivered 122,478 EVs, marking a growth of 21% from the corresponding period last year.

Price Action: Xpeng’s NYSE-listed shares closed at $15.3 on Monday, marking a rise of nearly 21% over the past 5 days. The stock is up by nearly 9% year-to-date, according to Benzinga Pro data.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

Read Next:

• Tesla Bull Hikes Elon Musk's EV Giant's Price Target To $400 As Stock Rallies 47% In One Month

Photo courtesy: XPeng

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.