Chinese ADRs Jump With NIO up 8%, Li Auto up 7%

Tiger Newspress

07-17

Chinese ADRs jumped in morning trading on Thursday, after China pledged to curb “irrational competition” in the electric vehicle (EV) sector, aligning with the government’s wider “anti-involution” campaign aimed at promoting healthy economic growth.

NIO rose 8%; Li Auto rose 7%; Tencent Music rose 4%; PDD Holdings and XPeng rose 3%; Bilibili rose 2%; Baidu, Alibaba, and JD.com rose 1%.

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