Li Auto Inc LI shares are trading lower by 4.4% to $27.01 during Monday’s session. The stock is experiencing a decline due to continued weakness in U.S.-listed Chinese stocks. This downturn follows China’s recent failure to meet GDP and retail sales estimates.
Additionally, Hong Kong stocks reached a 15-month low, with the Hang Seng Index dropping by 2.3% overnight. China also kept its benchmark lending rates unchanged in line with expectations, given limited room for monetary easing amid downward pressure on the yuan.
What's Going On In China?
Hong Kong stocks, such as the Hang Seng Index and Hang Seng Tech Index, have experienced a 15-month low. Investor concerns about China’s economic recovery and unchanged key lending rates have contributed to this decline.
The Hang Seng Index dropped 2.3%, reaching a level not seen since October 2022, while the Hang Seng Tech Index sank 3%, hitting its lowest point since April 2020.
Mainland Chinese markets also saw notable declines, with the Shanghai Composite Index falling 2.7% and the Shenzhen Composite Index plunging 4.5%…Read More
According to data from Benzinga Pro, Li Auto has a 52-week high of $47.33 and a 52-week low of $20.80.
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