Dear readers, do you own these five US ADRS:
BeiGene (BGNE)
Zai Lab (ZLAB)
Hutchmed (China) (HCM)
Yum China
ACM Research (ACMR)
I would think most of you probably don’t since the names of these stocks are not that familiar to investors here. And if you do own these five stocks, do take note that these five stocks are in the list put up by the US Securities and Exchange Commission yesterday of companies that could be delisted if they don’t measure up to US accounting standards. Not surprising, the stock prices of these five stocks fell on the back of the announcement of the list.
Chinese ADRs not in the list also declined yesterday, notably AliBaba which went south 7.94%. I was surprised to learn the Alibaba Group ADR already fell below the USD 100 per share mark. AliBaBa ADR traded at USD 92.92 yesterday and was below its 52-weeks high of USD 245.69 by more than 60%.
I am rather cautious of Chinese ADRs on the US stock exchange since they are not only affected by corporate developments back in China but also by the geopolitical tensions between US and China.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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