BUZZ-China ADRs surge after Hong Kong shares jump to 31-month peak

Reuters10-04

** U.S.-listed shares of Chinese companies surge in premarket trading, after Hong Kong stocks rose nearly 3% on Friday to close at their highest level since March 2022

** The afterglow of China's massive economic stimulus proposals still has not faded, causing this rally

** E-commerce firms Alibaba Group Holding , JD.com Inc and PDD Holdings rise between 3.3% and 5%

** Gaming stocks Bilibili Inc surges 3.8% and peer NetEase Inc up 2.4%, while search engine giant Baidu Inc adds 3.7%

** EV firms Li Auto Inc up 2.7%, while Nio Inc

and Xpeng Inc gain 0.6% each

** Earlier today, European Commission received enough support to impose tariffs of up to 45% on imports of Chinese-made EVs

** Music streaming co Tencent Music Entertainment Group

and online video platform IQIYI Inc rise 4% each

** Social media co Weibo Corp and live streaming platform Huya Inc climb 4.4% and 2.8%, respectively

** Online education firms Gaotu Techedu Inc , TAL Education Group and New Oriental Education & Technology Group Inc up 4.5% to 6%

** Online brokerages Futu Holdings Ltd and UP Fintech Holding Ltd gain 4.2% and 12.3%, respectively

** China ETFs such as IShares MSCI China ETF , China Large-Cap ETF and KraneShares CSI China Internet ETF

gain 4.1% to 4.9%, while Direxion China CSI Daily Bull 2X advances 8.3%

(Reporting by Pranav Kashyap in Bengaluru)

((Pranav.Kashyap@thomsonreuters.com; +919886482111;))

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