"Tech Stock Tumble: Alibaba, JD.com, and PDD Holdings Continue Decline"

Chinese stocks, including Alibaba, JD.com, and PDD Holdings, continued to fall as investor confidence in China weakens due to downbeat economic data, weak consumer demand, and a real estate crisis. The recent track record of underperformance and a population decline in China have led to a broader crisis of confidence. While Alibaba and JD.com have been struggling with sluggish growth, PDD Holdings has shown strong growth and exposure to international markets through Temu, making it the best choice of the three stocks. However, uncertainty remains, and the flight away from Chinese stocks by foreign investors is unlikely to be reversed easily.