Chinese stocks, including Alibaba, Baidu, and Tencent, fell due to weaker economic growth

From Barron’s: 2024-07-15 11:58:00

Chinese stocks fell on Monday as second-quarter economic growth was weaker than expected. Baidu’s shares dropped 6%, Alibaba slipped 1.6%, and Tencent Holdings retreated 1.7%. The Hang Seng Index in Hong Kong finished 1.5% lower. China’s economy grew 4.7% in the second quarter, down from 5.3% in the first. The government is addressing unbalanced growth with a focus on manufacturing and exports over consumer spending and domestic consumption. The ruling Communist Party is meeting this week to discuss long-term policy for economic recovery.



Read more at Barron’s: Alibaba, Baidu, and Other Chinese Stocks Fall on Disappointing Economic Growth