Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.
Alibaba shares fell 3.45% in premarket trading.Chinese regulators have suspended an information-sharing partnership with Alibaba Cloud Computing, a subsidiary of e-commerce conglomerate Alibaba Group, over accusations it failed to promptly report and address a cybersecurity vulnerability, according to state-backed media reports.