China has taken steps to tighten controls on dual-listed firms based in the nation. The Chinese market has suffered $560 billion in losses as a result of this. More than 250 Chinese companies with a market worth of more than $2 trillion have been affected. Chinese tech stocks are trading at all-time lows, and Hong Kong’s benchmark index is at a 10-month low. The impact of the crisis has been felt in the United States as well, with losses of $60 billion in March in the three largest Chinese stocks.
Here is Insider Monkey’s list of the 10 stocks that the China crackdown is crushing. Yum China Holdings, Inc. is number ten on the list of ten stocks being crushed by the Chinese crackdown. The Shanghai-based company owns and operates franchise restaurants in China. Macquarie has downgraded the company’s stock from Neutral to Underperform. Baidu, Inc. is number nine on our list of ten stocks being crushed by China’s crackdown. In China, the company offers internet search services and has investments in various internet-related enterprises. Beijing is the company’s headquarters. It is ranked eighth on the list of ten stocks that are being crushed by China’s crackdown. Pinduoduo Inc. is a Shanghai-based e-commerce platform owner and operator. For the second quarter, the company’s earnings were mixed. GDS Holdings Limited is number seven on the list of ten stocks being crushed by the Chinese crackdown. The company’s main business is developing and operating data centers. Morgan Stanley reduced the stock from Overweight to Equal Weight, with an $80 price objective. Alibaba Group Holding Limited ranks sixth on the list of ten stocks being crushed by the Chinese crackdown. The business specializes in technological infrastructure and marketing. Alibaba Group Holding Ltd was retained as a Buy by Stifel, although the price objective was reduced to $210 from $260. For more details, click 10 Stocks That The China Crackdown Is Crushing.
