China ADRs up as Beijing eases COVID curbs

17 Education and Technology

27/12/2022 12:19

** China-based firms' American depository receipts (ADRs)
gain premarket, after the country said it will scrap COVID-19
quarantine rules for inbound travellers from Jan. 8
    ** The world's second-largest economy will also downgrade
its management of COVID to the less-strict "Category B" from the
current top-level "Category A"
    ** E-commerce firms Alibaba Group Holding Ltd  BABA.N ,
Pinduoduo Inc  PDD.O  and JD.com Inc  JD.O  rise 2.4%-2.7%
    ** Search engine Baidu Inc  BIDU.O  up 2.1%; online
entertainment firm iQIYI Inc  IQ.O  up 2.8%; gaming company
Bilibili Inc  BILI.O  up 3.4%
    ** Education firms TAL Education Group  TAL.N , Gaotu
Techedu Inc  GOTU.N  and New Oriental Education & Technology
 EDU.N  gain 2.2%-3.6%
    ** Solar module maker JinkoSolar Holding Co  JKS.N  jumps 6%
    ** E-brokerages Futu Holdings Ltd  FUTU.O  and UP Fintech
Holding Ltd  TIGR.O  up 1.9% and 0.4%, respectively
    ** iShares China Large Cap ETF  FXI.P , KraneShares CSI
China Internet ETF  KWEB.P  and Direxion Daily CSI China
Internet Index Bull 2X ETF  CWEB.P  climb 2.4%-5.9%
 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))