Shares of Nio Inc. were suffering a third-straight loss toward a two-month low Thursday, as part of a broad selloff in the U.S.-listed stocks of China-based companies.
In the U.S., the Invesco Golden Dragon China ETF PGJ, which tracks U.S.-exchange listed companies based in China, dove 3.9% in midday trading with 66 of its 74 equity components losing ground. The ETF sank 6.3% amid a three-day losing streak. The ADS of PDD Holdings Inc. PDD, -5.23%, which had the heaviest weighting in the Golden Dragon China ETF , was knocked 5.4% lower. The mobile-marketplace company’s stock has lost 7.0% since it closed Sept. 1 at $103.29, which was the highest close since Jan. 27.
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