: China ADRs trade lower ahead of Alibaba results

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 HK:HSI fell nearly 2%, in a session that also was colored by results from Tencent HK:700. Alibaba’s investor call is due to start at 7:30 a.m. Eastern.

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