BUZZ-China ADRs jump as domestic stocks extend their rally

Reuters
30 Sep 2024

** U.S.-listed shares of Chinese companies jump premarket following a climb in domestic stocks

** Equity rally stems from recent stimulus measures from Beijing to revive domestic economy

** E-commerce firms gain: Alibaba Group Holding up 4.5%, JD.com rises 7.5%, PDD Holdings rises 4.7%

** EV firms Li Auto up 7.5%, Nio jumps 12.7% and Xpeng gains 8.3%

** Gaming stock Bilibili up 8.7%, search engine giant Baidu adds 3%, online video platform iQIYI rises 3%

** Online brokerages Futu Holdings and UP Fintech Holding soar 9.2% and 13.5%, respectively

** Online education firms Gaotu Techedu jumps 12.7% and TAL Education Group up 9.5%, while Social media co Weibo advances 5.8%

** China's ETFs such as iShares MSCI China ETF up 3.1%, KraneShares CSI China ETF 5.4% and iShares China Large-Cap ETF up 2.7%

(Reporting by Nikhil Sharma in Bengaluru)

((Nikhil.Sharma@thomsonreuters.com;))

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