Chinese stocks rallied on Monday as investors continued to be optimistic that coronavirus rules would be eased, despite repeated messages from authorities that China would stay the course on “zero Covid” policies.
Major U.S.-listed Chinese stocks were higher in premarket trading, with
Alibaba
(ticker: BABA) rising 1.5%,
JD.com
(JD) 2% in the green,
Tencent
(700.HongKong) climbing 2.9%, and
NIO
(NIO) jumping 3%. In Hong Kong trading, the
Hang Seng Index
surged 2.7%, led higher by a 4.1% upward move in the Hang Seng Tech Index. Futures tracking the
S&P 500
index were up 0.5%, by comparison.
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