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Chinese tech stocks were in the red on Tuesday following quarterly earnings results of some U.S. tech companies.
Video sharing platform Bilibili (BILI) has slumped 6%, while internet search giant Baidu (BIDU) is down 2%. E-commerce companies Alibaba (BABA) has fallen 3% and JD.com (JD) has dipped 1%. Meanwhile, video games company NetEase (NTES) has tumbled 5%.
Shares of Datadog (DDOG), which provides a security platform for cloud applications, fell about 9% on Tuesday despite first quarter results beat estimates, as analysts noted that expectations were high.
Meanwhile, Teradata (TDC) fell about 11% after a mixed outlook for the second-quarter and full-year that overshadowed its first-quarter results. BofA downgraded the shares of the cloud software company to Underperform from Neutral noting that setup has become tougher in the near-term.