China ADRs extend their rally on latest stimulus push

TAL Education

27/09/2024 09:55

** U.S.-listed shares of Chinese companies jump premarket on
latest series of stimulus measures from Beijing to boost
domestic economy
    ** This comes a day after Chinese leaders vowed to deploy
"necessary fiscal spending" to meet growth target
    **  E-commerce firms gain: Alibaba Group Holding  BABA.N  up
2%, JD.com  JD.O  5.1%, PDD Holdings  PDD.O  rises 4.8%
    ** EV firms Li Auto  LI.O  up 2.8%, Nio  NIO.N  up 6.1% and
Xpeng  XPEV.N  gains 5.4%
     ** Gaming stocks Bilibili  BILI.O  up 4.2% and NetEase
 NTES.O  up 3.7%, search engine giant Baidu  BIDU.O  adds 2.4%
    ** Online education firms Gaotu Techedu  GOTU.N  jumps 9.4%
and TAL Education Group  TAL.N  advances 8.8%; online video
platform iQIYI  IQ.O  rises 5.6%
    ** Online brokerages Futu Holdings  FUTU.O  and UP Fintech
Holding  TIGR.O , up 4.2% and 8.9%, respectively    
    ** China's ETFs such as iShares MSCI China ETF  MCHI.O  up
1.8%, KraneShares CSI China ETF  KWEB.P  3.4% and iShares China
Large-Cap ETF  FXI.P  up 0.9%

 (Reporting by Nikhil Sharma in Bengaluru)
 ((Nikhil.Sharma@thomsonreuters.com;))