Shares of U.S.-listed Chinese tech companies Alibaba (NYSE:BABA) Group Holdings Ltd. (NYSE: BABA), JD.Com Inc. (NASDAQ: JD), Tencent Holdings (HK:0700) (OTC: TCEHY), and Baidu Inc. (NASDAQ: NASDAQ:BIDU) were mixed in Hong Kong trading early on Tuesday.
While Alibaba and Baidu were trading in the red, Chinese tech giant Tencent and e-commerce company JD.com gained.
| Alibaba | -1.73% |
| JD.Com | 1.86% |
| Tencent | 2.55% |
| Baidu | -1% |
Meanwhile, U.S. markets ended Monday lower in anticipation of rate hikes this year from the Federal Reserve as it seeks to curb inflation. The 10-year Treasury yield hit an intraday and 2-year high of 2.784%.
Companies In News: Daily Journal Corporation (NASDAQ: DJCO), a Los Angeles-based publishing and technology whose investments are overseen by Charlie Munger, cut its stake in Chinese internet giant Alibaba by roughly half, according to a Bloomberg report, which cited a regulatory filing.
Shares of Tencent surged along with other videogame stocks after Chinese regulators approved the country's first batch of new gaming titles in more than eight months.
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