shares of alibaba group holding limited nyse baba and baidu inc nasdaq bidu traded slightly higher in hong kong on monday while jdcom inc nasdaq jd tencent holdings inc otc tcehy li auto inc nasdaq li and xpeng inc nyse xpev slumped what’s moving shares of alibaba and baidu traded about 1 higher each in hong kong at the time of writing while jdcom tencent li auto and xpeng traded lower in a range between 1 and 3 chinese ev startup nio inc nyse nio unveiled a midsize sedan named et5 at its annual nio day event on saturday the new vehicle is seen as a competitor to tesla inc’s nasdaq tsla model 3 sedan which is the elon muskled company’s bestselling car globally see also how to buy alibaba baba stock hong kong’s benchmark hang seng index opened lower on monday and was down almost 1 at the time of writing the index closed 12 lower on friday amid worries about rising uschina tensions after the us government imposed new sanctions on chinese tech companies why is it moving the hang seng index extended losses even as the people’s bank of china pboc cut its benchmark lending rate for the first time in almost two years on monday the oneyear loan prime rate lpr was reduced from 385 to 38 as part of the central bank’s efforts to support the chinese economy which is struggling from muted consumer spending and a slump in the property sector chinese property developers such as china evergrande group otc egrny shimao group holdings and kaisa group holdings dragged the hong kong market lower after a series of rating downgrades worries about the spread of the omicron coronavirus variant around the world also weighed on the market meanwhile chinese artificial intelligence ai startup sensetime group has relaunched its 767 million initial public offering in hong kong on monday and secured about 512 million from nine cornerstone investors bloomberg reported the ipo was delayed by a week amid concerns over us sanctions on the company shares of chinese companies closed mostly lower in us trading on friday after the major averages in the us ended lower as investors grappled with the reality of tighter monetary policy by the federal reserve read next good tidings for alibaba and other uslisted chinese firms regulators make progress on audit inspection talks to avert potential delistings