Shares of several Chinese companies, including Baidu Inc (NASDAQ:BIDU) and Pinduoduo Inc - ADR (NASDAQ:PDD), are trading lower following the Russian invasion of Ukraine and in sympathy with Alibaba Group Holding Ltd - ADR (NYSE:BABA) after the company reported mixed third-quarter earnings results.
Alibaba reported quarterly earnings of $2.65 per share which beat the analyst consensus estimate of $2.55. The Chinese tech giant otherwise reported quarterly sales of $38.07 billion which missed the analyst consensus estimate of $38.83 billion.
Chinese stocks have also been volatile this week following reports suggesting China asked state firms to check their investments in Jack Ma's Ant Group.
See Also: How The Markets Are Reacting To Russia's Invasion Of Ukraine
Baidu is trading lower by 0.31% at $149.35.
Pinduoduo is trading lower by 2.7% at $50.42.
