China ADRs jump on Beijing's stimulus hopes

HUYA

28/07/2023 10:28

** U.S.-listed shares of Chinese companies gain in premarket
trading on China stimulus optimism 
    ** E-commerce firms Alibaba Group Holding  BABA.N , JD.com
Inc  JD.O  and Pinduoduo Inc  PDD.O  rise between 2.8% and 3.5%,
premarket
    ** Gaming stocks Bilibili Inc  BILI.O  surges 7.7% and peer
NetEase Inc  NTES.O  up 1.7%, while search engine giant Baidu
Inc  BIDU.O  adds 2.8%
    ** EV firms Li Auto Inc  LI.O , Nio Inc  NIO.N  and Xpeng
Inc  XPEV.N  gain between 5% and 7%
    ** Online video platform IQIYI Inc  IQ.O  gains 3.4%, while
Social media co Weibo Corp  WB.O  and live streaming platform
Huya Inc  HUYA.N  climb 4.1% and 5.3%
    ** Online education firms Gaotu Techedu Inc  GOTU.N , TAL
Education Group  TAL.N  and New Oriental Education & Technology
Group Inc  EDU.N  up 4%-6%
    ** Online brokerages Futu Holdings Ltd  FUTU.O  and UP
Fintech Holding Ltd  TIGR.O  gain 4.8% and 4.5%, respectively
    ** China ETFs such as IShares MSCI China ETF  MCHI.O  and
KraneShares CSI China Internet ETF  KWEB.K  gain 3.9% and 4.2%
respectively, while Direxion China CSI Daily Bull 2X  CWEB.K 
advances 7.7%

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))