Chinese shares on US exchanges rise tracking mainland gains on AI optimism

Tencent Music Entertainment

02/10/2025 12:46

** U.S.-listed shares of Chinese companies rise premarket, tracking gains in domestic market

** Hong Kong shares closed at its highest level in over four years, on their first trading day in October, led by positive sentiment over artificial intelligence and JPMorgan's PT hike for Alibaba 9988.HK

** E-commerce firms Alibaba Group Holding BABA.N, JD.com Inc JD.O and PDD Holdings PDD.O rise between 1.2% and 2.8%

** Gaming stocks Bilibili Inc BILI.O surges 2.9% and peer NetEase Inc NTES.O up 2.5%, while search engine giant Baidu Inc BIDU.O adds 3.8%

** EV firms Li Auto Inc LI.O, Nio Inc NIO.N and Xpeng Inc XPEV.N gain between 2.2% and 2.5%

** Music streaming co Tencent Music Entertainment Group TME.N and online video platform IQIYI Inc IQ.O rise 1.2% and 1.6%, respectively, while Social media co Weibo Corp WB.O and live streaming platform Huya Inc HUYA.N climb 2.6% and 0.3%, respectively

** Online brokerages Futu Holdings Ltd FUTU.O and UP Fintech Holding Ltd TIGR.O gain 1.5% and 2.3%, 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 1.4%-1.8%, while Direxion China CSI Daily Bull 2X CWEB.K advances 3.3%

(Reporting by Avinash P in Bengaluru)

((Avinash.P@thomsonreuters.com;))