China ADRs gain as COVID curbs ease

New Oriental Education & Technology

08/12/2022 11:27

** U.S.-listed shares of Chinese companies rise before the
bell after China eased domestic COVID-19 curbs 
    ** China's national health authority said on Wednesday that
asymptomatic COVID-19 cases and people with mild symptoms can
quarantine at home, in the strongest sign yet that China is
preparing its people to live with the disease.
    ** E-commerce firms Alibaba.com  BABA.N , JD.com  JD.O  and
Pinduoduo  PDD.O  rise between 2.9% and 3.9%
    ** Gaming stock Bilibili  BILI.O  climbs 10.7%, while peer
NetEase  NTES.O  up 4.7%
    ** Search engine giant Baidu  BIDU.O  adds 3.9%
    ** EV makers Xpeng  XPEV.N  up 5%, while peers Li Auto
 LI.O  and NIO Inc  NIO.N  rise 6.2% and ~4% respectively
    ** Music streaming co Tencent Music  TME.N  and online video
platform IQIYI  IQ.O  gain 3.8% and 7.5% respectively, while
live streaming platform Huya  HUYA.N  climbs 7.8%
    ** Online education firms Gaotu Techedu  GOTU.N , TAL
Education  TAL.N  and New Oriental Education  EDU.N  rise
between 2.9% to 6.7%
    ** Online brokerages Futu Holdings  FUTU.O  and UP Fintech
 TIGR.O  gain 4.5% and 4.9%, respectively
    ** China ETFs such as IShares MSCI China ETF  MCHI.O , China
Large-Cap ETF  FXI.N  and KraneShares CSI China Internet ETF
 KWEB.K  gain between 2.5% and 5.2%
 (Reporting by Shristi  Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))