Stock Track | Chinese Stocks Plunge as China Fails to Announce New Stimulus Measures

Stock Track

2024/10/08

Shares of prominent Chinese companies listed in the U.S., including Kingsoft Cloud Holdings Ltd (KC), experienced a significant pre-market plunge on Tuesday, October 8th, 2024.

The steep declines came after China's National Development and Reform Commission failed to announce major new stimulus measures at a press briefing, disappointing investors who had been anticipating additional economic support from the government.

Kingsoft Cloud Holdings Ltd (KC) saw its stock plummet by nearly 20% in pre-market trading, with other Chinese firms like Weibo, NIO, Niu, Futu Holdings, Bilibili, and Ke Holdings also suffering double-digit drops, with some falling more than 15%.

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