Why Chinese Stocks PDD Holdings, Tencent, and Li Auto Fell Today

Chinese stocks pulled back again after disappointing trade data led to fears that recent stimulus announcements won't be enough.Shares of Chinese consumer and tech leaders PDD Holdings (PDD -5.81%), Tencent (TCEHY -4.95%), and electric vehicle (EV) leader Li Auto (LI -5.40%) plunged today, down 6.1%, 4.8%, and 4.4%, respectively, as of 12:07 p.m. ET.Chinese stocks had a vicious rally beginning in September with the announcement of general stimulus plans from the government. However, stocks are now pulling b ...