Why Chinese Stocks Are Falling Today
Shares of Chinese stocks traded down on Thursday, despite the country's health ministry saying earlier in the day that the country has passed the peak of the coronavirus outbreak.
That didn't stop shares of Weibo (NASDAQ: WB) from trading down more than 9% on Thursday afternoon, and shares of Baidu (NASDAQ: BIDU), Bilibili (NASDAQ: BILI), Luckin Coffee (NASDAQ: LK), and iQiyi (NASDAQ: IQ) from all trading down more than 7%.
These companies are all engaged in different businesses, but are all focused on China. Baidu is the leading Chinese-language internet search provider, while Luckin is a growing Asian coffee chain, Bilibili and Weibo are social networking platforms, and iQiyi is focused on video streaming.
Source Fool.com
