China ADRs extend recovery on Beijing's efforts to calm investor nerves

American Lithium

29/07/2021 11:33

** American depository shares of China-based firms extend
gains for second straight day 
    ** China steps up attempts to calm frayed investor nerves by
telling foreign brokerages not to "overinterpret" its latest
regulatory actions  urn:newsml:reuters.com:*:nL1N2P5040
    ** The Nasdaq Golden Dragon China index  .HXC  jumped 9.3%
on Wednesday following four days of sharp losses, triggered by
China's widening regulatory crackdown 
    ** Ride-hailing giant Didi Global Inc  DIDI.N  soars 33.8%,
the busiest stock across U.S. exchanges, after report co is
considering delisting  urn:newsml:reuters.com:*:nL4N2P5282
    ** Education companies TAL Education  TAL.N , New Oriental
Education & Technology Group  EDU.N  and Gaotu Techedu  GOTU.N 
jump between 7.5% and 10%
    ** Tencent-backed Futu Holdings  FUTU.O  and peer UP Fintech
 TIGR.O  climbs 7.1% and 8.0%
    ** Alibaba  BABA.N , Baidu  BIDU.O  and JD.com  JD.O  rise
2.8%, 4.1%, 3.4%, respectively
    ** Pinduoduo  PDD.O , Tencent Music  TME.N  and NetEase
 NTES.O  rise between 3% and 6%
    ** Electric-vehicle makers Li Auto Inc  LI.O , Nio Inc
 NIO.N  and Xpeng Inc  XPEV.N  gain between 3.0% and 5.5%

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))