Hong Kong stocks traded mixed Tuesday morning, with the benchmark Hang Seng index trading 1.87% higher, while some EV stocks took a hit. Various voices from the Federal Reserve appear to have confused traders and investors as major Wall Street indices paused from the rally last week.

“Fed fund futures sold off as senior FOMC [Waller] and tax officials [Yellen] advise market participants not to read too much into the weaker October CPI report and that there is still a long way to go in the fight against inflation. Now Fed Vice Chairman Brainard noted that it would be appropriate to slow the pace of rate hikes ‘soon’,” ANZ Research said in a statement.

Nio’s shares lost over 3% in the opening trade. Alibaba and Tencent shares were up over 2% and 3%, respectively, Tuesday morning.

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Macro News: Chinese President Xi Jinping said US President Joe Biden the Taiwan issue is the “innermost core of China’s core interests” and the “first red line” in bilateral relations that must not be crossed, reported Reuters.

Many Chinese cities began cutting back on routine community COVID-19 testing on Monday, days after China announced an easing of some of its harsh pandemic measures. This caused concern in some communities as cases across the country continued to rise. reported Reuters.

Company news: The logistics arm of Alibaba Kainiao has announced the opening of its Latin American headquarters in Sao Paulo, Brazil. according to to CNBC.

Tesla Inc TSLA-Rival jump enginewhich announced its first quarterly results after its IPO, posted a 400% increase in revenue while doubling its net loss, reported CnEVPost.

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