China ADRs continue their rally on stimulus measures

Weibo

02/10/2024 10:11

** U.S.-listed shares of Chinese companies jump premarket as
investors cheer Beijing's recent stimulus measures
    ** E-commerce firms gain: Alibaba Group Holding  BABA.N  up
3.7%, JD.com  JD.O  rises 9%, PDD Holdings  PDD.O  advances 4.8%
    ** EV firms Li Auto  LI.O  up 7.5%, Nio  NIO.N  jumps 6.7%
and Xpeng  XPEV.N  gains 8.1%
    ** Gaming stock Bilibili  BILI.O  up 11.9%, search engine
giant Baidu  BIDU.O  adds 6%, online video platform iQIYI  IQ.O 
rises 8.3%
    ** Online brokerages Futu Holdings  FUTU.O  and UP Fintech
Holding  TIGR.O  climb 12.7% and 20.2%, respectively
    ** Online education firm Gaotu Techedu  GOTU.N  jumps 10.1%
and TAL Education Group  TAL.N  up 6.8%, while social media co
Weibo  WB.O  gains 6.1%
    ** Chinese ETFs such as iShares MSCI China ETF  MCHI.O  up
5.7%, KraneShares CSI China ETF  KWEB.P  up 6.4% and iShares
China Large-Cap ETF  FXI.P  up 6%

 (Reporting by Nikhil Sharma in Bengaluru)
 ((Nikhil.Sharma@thomsonreuters.com;))