electricvehicle stocks plunged in hong kong on wednesday morning with tesla inc tsla rival xpeng inc tumbling over 10 after posting a quarterly net loss that more than doubled the benchmark hang seng index fell 028 at the open as markets eyed us federal reserve chair jerome powells speech on the economic outlook at the jackson hole symposium on friday macro news the chinese yuan fell to a more than twoyear low of 686 against the greenback on tuesday as the dollar rallied ahead of powells speech at jackson hole and as a result of the chinese central banks easy monetary policy to aid a slowing economy taiwan president tsai ingwen has warned china on the anniversary of a confrontation that took place six decades ago that the island is determined to defend itself and invaders will incur a “heavy price” reported reuters also read why havent any tesla executives bought their own companys stock this year company news xpeng on tuesday reported a net loss of 27 billion yuan 4032 million for the second quarter compared with a loss of 12 billion yuan a year earlier the company expects to deliver between 29000 and 31000 vehicles in the third quarter which was weaker than some reported market estimates li auto shares in hong kong fell over 3 while those of nio shed over 15 tencentbacked grocery supply firm yonghui fresh food is looking to raise about 200 million ahead of a hong kong initial public offering next year reported bloomberg tiktokowner bytedance has launched a search app wukong in china the south china morning post reported global news wall street ended on a weaker note on tuesday as economic data in the us showed private sector firms witnessed a sharper fall in business activity in august in asia trading on wednesday the dow jones futures were down 009 while the nasdaq futures lost 008 and sp 500 futures fell 008 elsewhere australia’s asx 200 gained 069 japan’s nikkei 225 was down 019 while china’s shanghai composite index was up 012 south korea’s kospi gained 024