China ADRs rise as tech rally lifts domestic stocks

Tencent Music Entertainment

21/02/2025 11:03

** U.S.-listed shares of Chinese companies rise premarket
    ** Chinese tech stocks in Hong Kong rise on Friday, marking
their best weekly streak since 2020, driven by earnings
surprises and optimism about artificial intelligence sector
drawing attention from global investors 
    ** E-commerce firms Alibaba Group Holding  BABA.N  rises
4.2%, JD.com Inc  JD.O  gains 1.7% and PDD Holdings  PDD.O  up
2.1%
    ** Gaming stocks Bilibili Inc  BILI.O  surges 6% and peer
NetEase Inc  NTES.O  up 1.3%, while search engine giant Baidu
Inc  BIDU.O  adds 3.5%
    ** EV firms Li Auto Inc  LI.O  gains 5.8% , Nio Inc  NIO.N 
rises 3.2% and Xpeng Inc  XPEV.N  adds 4.2%
    ** Music streaming co Tencent Music Entertainment Group
 TME.N  rises 6.1% and online video platform IQIYI Inc  IQ.O 
gains 3.7%, while social media co Weibo Corp  WB.O  advances
2.7%
    ** Online education firms Gaotu Techedu Inc  GOTU.N  gains
4.7%, TAL Education Group  TAL.N  adds 2.8% and New Oriental
Education & Technology Group Inc  EDU.N  up 0.2%
    ** Online brokerages Futu Holdings Ltd  FUTU.O  and UP
Fintech Holding Ltd  TIGR.O  gain 6% and 5.4%, respectively
    ** China ETFs IShares MSCI China ETF  MCHI.O  and China
Large-Cap ETF  FXI.N  adds 1.9% and 1.6%, respectively; 
KraneShares CSI China Internet ETF  KWEB.K  gains 3.3%, while
Direxion China CSI Daily Bull 2X  CWEB.K  advances 6.9%

 (Reporting by Sanchayaita Roy in Bengaluru)
 ((sanchayaita.roy@thomsonreuters.com))