China ADRs track gains in mainland peers

Tencent Music Entertainment

05/11/2024 11:12

** Chinese companies' US-listed shares rise premarket,
tracking gains in mainland stocks after Chinese Premier Li Qiang
expressed confidence in an economic recovery, while data showed
Oct services activity expanded at fastest pace in three months
    ** Shanghai Composite  .SSEC  closed up 2.32% and blue-chip
CSI 300  .CSI300  jumped 2.53%, ending at four-week highs  .SS 
    ** Alibaba  BABA.N , JD.com  JD.O  and PDD Holdings  PDD.O 
gain 2%-3%
    ** EV firms Li Auto  LI.O  climbs 2%, Nio  NIO.N  up 3% and
Xpeng  XPEV.N  races nearly 5%
    ** Gaming stock Bilibili  BILI.O  climbs 4.7%, search engine
giant Baidu  BIDU.O  rises 2.3%, video platform iQIYI  IQ.O 
surges 5.7%
    ** Tencent Music  TME.N  and Weibo  WB.O  both up 2.7%
    ** Chinese ETFs such as iShares MSCI China ETF  MCHI.O 
advances 2.7%, KraneShares CSI China ETF  KWEB.P  up 2.9% and
iShares China Large-Cap ETF  FXI.P  climbs 2.5%

 (Reporting by Sukriti Gupta in Bengaluru)
 ((Sukriti.Gupta@thomsonreuters.com;))