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Sector
Technology
Size
Large Cap
Market Cap £47.41bn
Enterprise Value £40.48bn
Revenue £9.74bn
Position in Universe 197th / 7419

BUZZ-Chinese ADRs bounce as worries over Evergrande's solvency, U.S.-Sino relations ease

Thu 7th October, 2021 11:07am
** U.S.-listed Chinese stocks rise in premarket trading,
mirroring a rally in Honk Kong shares and as concerns around
U.S.-Sino trade relations and Evergrande's  3333.HK  debt crisis
appeared to ease
    ** Shares in tech giants Alibaba  BABA.K  and Baidu  BIDU.O 
up 5.3% and 3.5%, respectively, while ride-hailing firm Didi
 DIDI.K  and electric-car maker Nio  NIO.N  climb more than 3.3%
each 
    ** Gaming co NetEase Inc  NTES.O , education company TAL
Education  TAL.N , music-streaming company Tencent Music
 TME.N , e-commerce platform Pinduoduo  PDD.O  and mobile game
publisher Bilibili  BILI.O  up between 1.8% and 5.2%
    ** IShares China Large-Cap ETF  FXI.N , iShares MSCI China
ETF  MCHI.O  and KraneShares CSI China Internet ETF  KWEB.K 
surge 2.5%-4.5%
    ** Fund giant Fidelity is putting money back into Chinese
stocks saying the recent Evergrande-led rout is presenting
opportunities in the country's beaten up bond markets
 urn:newsml:reuters.com:*:nL8N2R21Y3
    ** "The market is a little bit more confident that China
will get through this, that it is not going to be the harbinger
of doom that everybody thought it was going to be" - Stuart
Cole, head of macro economics at Equiti Capital
    ** Meanwhile, the United States and China also agreed in
principle for their presidents to hold a virtual meeting before
the end of the year  urn:newsml:reuters.com:*:nL1N2R21YE

 (Reporting by Devik Jain and Anisha Sircar in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))
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