Photo by Nicholas Cappello on Unsplash
Shares of U.S.-listed Chinese companies Alibaba Group Holdings Ltd. (BABA), JD.Com Inc. (JD), Nio Inc. (NIO), and XPeng Inc. (XPEV) are not trading in Hong Kong on Monday as local markets remain closed for a public holiday.
The benchmark Hang Seng is closed on the occasion of Easter, although markets in mainland China are open. Shanghai's SSE Composite Index was down 0.78% at the time of writing and Shenzhen Component index was down 0.2%.
China-based U.S-listed firms will trade on American exchanges on Monday.
Factors At Play
Since the second outbreak of COVID-19 in China's economic hub Shanghai, the country reported its first deaths today, as per Bloomberg.
According to CNN, at least 44 Chinese cities are under either a full or partial lockdown as authorities grapple with curbing the spread of COVID-19.
Meanwhile, Hong Kong confirmed 747 new coronavirus cases on Sunday as residents stepped out during the long-weekend Easter break after restrictions were eased.
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