China ADRs surge tracking gains in domestic markets on AI strength, Xi's meeting plan

Tencent Music Entertainment

14/02/2025 10:09

** U.S.-listed shares of Chinese companies jump premarket,
tracking a bullish rally in domestic Chinese stocks 
    ** Tech stocks in China logged their best winning streak in
over two years, building on gains since DeepSeek's AI
breakthrough re-ignited interest in China's technology
capabilities  .SS 
    ** A report saying the Chinese President plans to chair a
symposium attended by domestic business leaders to enhance
private sector sentiment also provided a boost
    ** In the U.S., e-commerce firms Alibaba Group Holding
 BABA.N  up 6.1%, while JD.com Inc  JD.O  and PDD Holdings
 PDD.O  rise 4.8% each
    ** Gaming stocks Bilibili Inc  BILI.O  surges 11.2%, peer
NetEase Inc  NTES.O  up 1.5%, while search engine giant Baidu
Inc  BIDU.O  adds 3% 
    ** EV firms Li Auto Inc  LI.O  and Xpeng Inc  XPEV.N  gain
3.9% each, while Nio Inc  NIO.N  adds 2.8%  
    ** Online video platform IQIYI Inc  IQ.O  gains 8.3%, while
social media co Weibo Corp  WB.O  was up 3.8% 
    ** Online brokerages Futu Holdings Ltd  FUTU.O  and UP
Fintech Holding Ltd  TIGR.O  gain 6.8% and 9.6%, 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 over 3% each, while Direxion China CSI Daily Bull
2X  CWEB.K  jumped 10%

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com;))