ADRs slump as Biden-Xi meeting disappoints

  • Chinese ADRs trade lower ahead of Alibaba results
  • Meeting between Biden and Xi Jinping doesn’t result in new agreements
  • Alibaba, Nio, XPeng, and Li Auto all down about 3%
  • Hang Seng falls nearly 2%
  • Investor call for Alibaba scheduled for 7:30 a.m. Eastern

Public Companies: Alibaba (BABA), Nio (NIO), XPeng (XPEV), Li Auto (LI), Tencent (700)
Private Companies:
Key People:

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Factuality Level: 7
Justification: The article provides information about the premarket trade performance of Chinese ADRs and the impact of a meeting between the US and China presidents. It also mentions the performance of specific stocks and the Hang Seng index. However, it lacks in-depth analysis and context regarding the reasons behind the stock movements and the meeting outcomes.

Noise Level: 3
Justification: The article provides relevant information about the premarket trade of Chinese ADRs and the impact of the meeting between Biden and Xi Jinping. However, it lacks in-depth analysis, evidence, and actionable insights.

Financial Relevance: Yes
Financial Markets Impacted: Chinese ADRs, Hang Seng Index

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the impact of Alibaba’s upcoming results and the lack of new agreements on the economic front between the US and China. This information is relevant to financial markets and companies, particularly Chinese ADRs and the Hang Seng Index.

Reported publicly: www.marketwatch.com