Chinese ADRs rise after positive qtrly results

17 Education and Technology

30/08/2022 13:25

** U.S.-listed shares of Chinese companies rise premarket
after a string of positive earnings
    ** Search engine giant Baidu  BIDU.O  beat qtrly revenue
estimates; up 3.8%  urn:newsml:reuters.com:*:nL4N3061Y2
    ** E-commerce firms Alibaba  BABA.N , Pinduoduo  PDD.O  and
JD.com  JD.O  up 1%-3%; PDD beat qtrly revenue estimates on
Monday  urn:newsml:reuters.com:*:nL4N30525I  urn:newsml:reuters.com:*:nL4N30532Q
    ** KraneShares CSI China Internet ETF  KWEB.P  up 1%
    ** E-brokerage Futu Holdings  FUTU.O  up 2% after higher
revenue and profit; rival UP Fintech  TIGR.O  up 1.3%
 urn:newsml:reuters.com:*:nL4N3062H9
    ** Online entertainment firm iQIYI  IQ.O  up 1.8% after
narrower-than-expected Q2 loss  urn:newsml:reuters.com:*:nL4N306235
    ** Gaming cos NetEase  NTES.O  and Bilibili  BILI.O  up
1.3%-1.5%
    ** Education firms TAL Education  TAL.N , Gaotu Techedu
 GOTU.N , New Oriental Education & Technology  EDU.N  and 17
Education & Technology  YQ.O  up 2.8%-5.9%
    ** Solar module maker JinkoSolar  JKS.N  up 2.2%
    ** EV makers Xpeng  XPEV.N , Li Auto  LI.O  and NIO  NIO.N 
up 0.5%-1.2%

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))