China ADRs rise as Trump holds off on tariffs

Tencent Music Entertainment

21/01/2025 11:28

** U.S.-listed shares of Chinese companies rise premarket as
President Donald Trump holds off on China tariffs 
    ** Trump had threatened a 60% tariff on Chinese goods during
his campaigns 
    ** Trump signs executive order to delay enforcement of ban
on popular short-video app TikTok by 75 days, but says he might
impose tariffs on China if Beijing does not approve potential
U.S. deal with TikTok
    ** E-commerce firms Alibaba Group Holding  BABA.N , JD.com
Inc  JD.O  and PDD Holdings  PDD.O  rise between 2.06% and 3%
    ** Gaming stock Bilibili Inc  BILI.O  rises 1.14% and peer
NetEase Inc  NTES.O  rises 0.95%, while search engine giant
Baidu Inc  BIDU.O  rises 0.89%
    ** EV firms Li Auto Inc  LI.O  and Xpeng Inc  XPEV.N  and 
gain 5.62% and 6.51% respectively; peer Nio Inc  NIO.N  gains
0.92%
    ** Music streaming company Tencent Music Entertainment Group
 TME.N  rises 2.97% and online video platform IQIYI Inc  IQ.O 
up 2.1%; social media company Weibo Corp  WB.O  climbs 0.21% 
and live streaming platform Huya Inc rises 2.12%
    ** Online brokerage Futu Holdings Ltd  FUTU.O  gains 1.11%
and peer UP Fintech Holding Ltd  TIGR.O  gains 2.1%
    ** China ETFs IShares MSCI China ETF  MCHI.O , China
Large-Cap ETF  FXI.N  and KraneShares CSI China Internet ETF
 KWEB.K  gain between 1.32% to 2.01%; Direxion China CSI Daily
Bull 2X ETF  CWEB.K  advances 3.8%

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