China ADRs rise on upbeat data, hopes of fresh stimulus

HUYA

15/11/2023 14:19

** U.S.-listed shares of Chinese companies rise in premarket
trading
    ** Data shows China's industrial output and retail sales
growth beat expectations in October
    ** Adding to positive sentiment, a report said China is
mulling injecting fresh funds to boost housing market
    ** China's central bank on Wednesday pumps in 600 billion
yuan($82.85 billion) into the banking system
    ** JD.com  JD.O  up 7.1% after the co posts higher Q3 profit
    ** E-commerce firms Alibaba  BABA.N  up 3.2%, Pinduoduo
 PDD.O  gains 3.7%, and Tencent Music  TME.N  moves up 1%
    ** Gaming stocks Bilibili  BILI.O  and NetEase  NTES.O  rise
2.6% and 1.3% respectively, while search engine Baidu  BIDU.O 
gains 2.7% and HUYA  HUYA.K  adds 2.7%
    ** EV firms Li Auto  LI.O  up 0.8% and Nio  NIO.N  up 1.3%
        ** China Large-Cap ETF  FXI.N  and KraneShares CSI China
Internet ETF  KWEB.K  gain 1.3% and 2% respectively
    
    ($1 = 7.2418 Chinese yuan renminbi)

 (Reporting by Pranav Kashyap)