Chinese ADRs Jump as Wall Street Rally Fuels Investor Optimism

Tiger Newspress

07-18

Chinese ADRs jumped in morning trading on Friday,mirroring Wall Street’s rally that was fuelled by strong US consumer data and earnings optimism, as investors bet on steady economic growth and cooling inflation.

YINN rose 6%; Kingsoft Cloud rose 10%; JD.com and Bilibili rose 5%; Alibaba rose 4%; PDD Holdings, Baidu, and NetEase rose 3%; NIO, Li Auto, and XPeng rose 2%.

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