China ADRs fall, tracking decline in domestic stocks
** U.S.-listed shares of Chinese firms fall premarket as investors stepped back to see when and where government support will be directed in China
** On Saturday the finance ministry said it would increase borrowing, without saying when or by how much, disappointing some investors
** Caixin Global reports China may raise an additional 6 trillion yuan ($850 billion) over three years to fund fiscal stimulus
** According to a Reuters poll, China's economy is likely to expand 4.8% in 2024, missing government's target
** E-commerce firms Alibaba Group Holding BABA.N down 4.6%, JD.com JD.O down 6.4% and PDD Holdings PDD.O 4.5% lower
** EV firms Li Auto LI.O down 5%, Nio NIO.N slips 4.3% and Xpeng XPEV.N drops 3.4%
** Gaming stock Bilibili BILI.O down 6.9%, search engine giant Baidu BIDU.O declines 3.6%, online video platform iQIYI IQ.O down 4.7%
** Music streaming company Tencent Music Entertainment Group TME.N falls 4%, social media platform Weibo WB.O slips 2.7%
** The Shanghai Composite .SSEC slumped 2.5%, while the blue chip CSI300 .CSI300 lost 2.7% and Hang Seng .HSI was down nearly 4%
** Chinese ETFs such as iShares MSCI China ETF MCHI.O down 3.5%, KraneShares CSI China ETF KWEB.P drops 4.7% and iShares China Large-Cap ETF FXI.P declines 3.4%
Reporting by Sukriti Gupta in Bengaluru
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