Alibaba, other China ADRs surge as Ant Group capital plan approval fuels hope for relaxing scrutiny
Publishing timestamp: 2023-01-04 12:54:49
Summary
U.S.-listed shares of Alibaba and other Chinese tech stocks jumped Wednesday morning following news of a more relaxed Chinese regulatory environment and approval of an expanded capital plan from Ant Group. Investors are seeing this as a sign that the Chinese government will be supportive of private sector growth this year. The U.S. accounting watchdog also announced it had received access to examine accounting firms in China and Hong Kong, which is seen as a positive step in lowering the risk of delisting.
Sentiment: POSITIVE
Tickers: TCOM, NTES, BABA, 9999-HK, BIDU, JD, 9961-HK,
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