China ADRs track mainland peers higher after state brokerages vows aid

Tencent Music Entertainment

09/04/2025 10:28

** U.S.-listed shares of Chinese cos rise premarket

** Chinese state-run brokerages pledge to help steady domestic share prices and several listed cos unveiled stock buying plans to limit trade war damage

** CSI300 Index .CSI300 clawed back losses to end 1% higher; Shanghai Composite Index .SSEC rose 1.3%

** Alibaba Group Holding BABA.N, JD.com JD.O rise more than 6% each; PDD Holdings PDD.O up 3.1%

** Gaming stock Bilibili BILI.O jumps 8.8%; Baidu BIDU.O adds 2.8%

** EV firms Li Auto LI.O, Nio NIO.N gain 4.8% and 3.2% respectively; Xpeng XPEV.N rises 6.1%

** Tencent Music Entertainment Group TME.N, online video platform IQIYI IQ.O rise 4.5% and 6.9%, respectively

** Weibo WB.O and live streaming platform Huya HUYA.N climb 7% and 4.1%, respectively

** Online brokerages Futu Holdings FUTU.O and UP Fintech Holding TIGR.O gain 5% each

** IShares MSCI China ETF MCHI.O, China Large-Cap ETF FXI.N up 5.1% and 6.1% respectively; KraneShares CSI China Internet ETF KWEB.K gains 6.8%; Direxion China CSI Daily Bull 2X CWEB.K soars 12.9%

 (Reporting by Pranav Kashyap in Bengaluru)

 ((Pranav.Kashyap@thomsonreuters.com; +919886482111;))