Chinese ADRs were mostly lower in premarket trade ahead of Alibaba’s results, and after a meeting between U.S. President Joe Biden and China President Xi Jinping didn’t result in new agreements on the economic front. Alibaba
BABA,
Nio
NIO,
XPeng
XPEV,
and Li Auto
LI,
each were trading about 3% lower, as the Hang Seng
HSI,
fell nearly 2%, in a session that also was colored by results from Tencent
700,
Alibaba’s investor call is due to start at 7:30 a.m. Eastern.
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