China ADRs recover despite tit-for-tat tariffs

Tencent Music Entertainment

04/02/2025 16:18

** U.S.-listed shares of Chinese companies rise 
    ** Most shares recover from dip in previous session after
U.S. President Donald Trump suspends tariffs on Mexico and
Canada, shares broadly unfazed by implementation of 10% tariffs
on all Chinese imports 
    ** Beijing responds with tariffs on U.S. imports and targets
several U.S. companies
    ** U.S. trade adviser Peter Navarro says Trump to speak with
China's Xi later on Tuesday 
    ** E-commerce firms Alibaba Group Holding  BABA.N , JD.com
Inc  JD.O  and PDD Holdings  PDD.O  rise 4.5%, 5.2% and 8.9%,
respectively
    ** Gaming stocks Bilibili Inc  BILI.O  jumps 7.8%, search
engine giant Baidu Inc  BIDU.O  gains 8.8% 
    ** EV firms jump, tracking gains in Hong Kong-listed EV
stocks: Li Auto Inc  LI.O  up 7.5%, Nio Inc  NIO.N  gains 4.4%
    ** Xpeng Inc  XPEV.N  jumps 8.8% after co says it delivered
30,350 smart EVs in January, representing a 268% increase
year-on-year
    ** China ETFs rise: IShares MSCI China ETF  MCHI.O  gains
3.1% and on track for best day in nearly two months
    ** China Large-Cap ETF  FXI.N  gains 3%, KraneShares CSI
China Internet ETF  KWEB.K  up 4.3% 

 (Reporting by Lisa Mattackal)