Hot chinese concept stocks surged in premarket trading
Tiger Newspress2021-08-24
Hot chinese concept stocks surged in premarket trading.Alibaba,Pinduoduo,JD.com,Baidu,NIO,Didi Global and Bilibili climbed between 2% and 8%.
Chinese technology stocks rallied for a second day, as sentiment was boosted by Tencent Holdings Ltd.’s stock buyback and as Cathie Wood bought back into JD.com after a strong set of results.
The Hang Seng Tech Index extended its advance to as much as 7.1%, adding to a gain of more than 2% on Monday, after a five-week rout that took the gauge to the lowest level since inception last year.
While there’s no indication that China’s regulatory will ease, the absence of significant new initiatives in recent days has helped draw in bargain hunters.
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