US-listed shares of Chinese ecommerce firms tumble on China's counter-tariffs

U.S.-listed shares of Chinese companies fall premarket

China's finance ministry said on Friday it will impose additional tariffs of 34% on all U.S. goods from April 10, as a countermeasure to sweeping tariffs imposed by U.S. President Donald Trump on Wednesday

Beijing also said it was adding several U.S. entities to an export control list and classifying others as an "unreliable" entity

E-commerce firms Alibaba Group Holding BABA.N falls 8.7%, JD.com Inc JD.O slips 8.8% and PDD Holdings PDD.O down 8.2%

Gaming stocks Bilibili Inc BILI.O tumbles 9.3% and peer NetEase Inc NTES.O down 7.5%, while search engine giant Baidu Inc BIDU.O slips 6.7%

EV firms Li Auto Inc LI.O down 4.3% , Nio Inc NIO.N falls 4.6% and Xpeng Inc XPEV.N down about 7.6%

Music streaming co Tencent Music Entertainment Group TME.N falls 5% and online video platform IQIYI Inc IQ.O down 4.8%, while social media co Weibo Corp WB.O loses nearly 3%

Online education firms Gaotu Techedu Inc GOTU.N slips 4.7%, TAL Education Group TAL.N down 6% and New Oriental Education & Technology Group Inc EDU.N slips 4.4%

Online brokerages Futu Holdings Ltd FUTU.O and UP Fintech Holding Ltd TIGR.O down 6.7% and 10%, respectively

China ETFs IShares MSCI China ETF MCHI.O and China Large-Cap ETF FXI.N slips 6.1% and 6.6%, respectively; KraneShares CSI China Internet ETF KWEB.K down 7.7%, while Direxion China CSI Daily Bull 2X CWEB.K loses nearly 18%