On Thursday, Chinese stocks listed in the U.S. mostly experienced declines. The Nasdaq Golden Dragon China Index (HXC) fell by 1.81%. Among the gainers, NetEase (NTES, Financial) notably rose by 10.41%, Taiwan Semiconductor Manufacturing Company (TSM) gained 0.99%, Tencent Music Entertainment Group (TME) increased by 1.31%, ZTO Express (ZTO) edged up 0.58%, Vipshop Holdings (VIPS) rose 0.14%, and Autohome (ATHM) was up by 1.05%.
Conversely, major decliners included Alibaba Group (BABA), which dropped 1.54%, JD.com (JD) fell significantly by 6.56%, Pinduoduo (PDD) decreased by 0.95%, Trip.com Group (TCOM) down by 3.46%, and Baidu (BIDU) slipped 0.48%. Other notable declines were seen in NIO Inc. (NIO) which fell by 3.90%, XPeng Inc. (XPEV) down 5.39%, Bilibili Inc. (BILI) dropping sharply by 12.60%, and Zeekr shedding 23.68%.
U.S. stock markets ended lower on Thursday. Federal Reserve Chairman Jerome Powell indicated that there is no immediate need to cut interest rates, suggesting a possible pause in December. Initial jobless claims in the U.S. dropped to their lowest level since May, while producer prices in October rose, indicating potential upward pressure on the inflation measure favored by the Fed.
The Dow Jones Industrial Average fell by 207.33 points or 0.47% to 43,750.86. The Nasdaq Composite dropped 123.07 points or 0.64% to 19,107.65, and the S&P 500 Index declined 36.21 points or 0.60% to 5,949.17.
