China tech names rally in morning trading

Tiger Newspress2021-10-07

(Oct 7) China tech names rally in morning trading.

Chinese technology stocks listed in the U.S. are signaling a third day of gains in moring trading after peers in Asia rallied on improved risk appetite.

Shares in Pinduoduo Inc. rose 4.6% as of 9:44 a.m. in New York, while Alibaba Group Holding Ltd. climbed 5.67%. Other technology shares including Baidu Inc., Bilibili Inc. and DiDi Global Inc. were among American depositary receipts rising.

Chinese technology stocks rebounded from a record low in Hong Kong on Thursday amid signs of renewed interest in one of China’s biggest tech names. Charlie Munger’s Daily Journal Corp. was reported to have increased its Alibaba stake by 83% last quarter.

The Nasdaq Golden Dragon China Index -- which tracks several firms listed in the U.S. that conduct a majority of their business in China -- has also climbed for the past two days. Yet despite this week’s brief respite, the gauge remains deeply in the red year-to-date, having fallen 35%.

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精彩评论

  • bernardtayet
    2021-10-08
    bernardtayet
    Tech stock is rallying again. Hope it can last 
  • ming22
    2021-10-08
    ming22
    Hooray, go go go 🚀 
  • AlvinCWC
    2021-10-08
    AlvinCWC
    Strong rebound! Hopefully it lasts 
  • lih
    2021-10-08
    lih
    Like
  • Sphere
    2021-10-08
    Sphere
    Turn the tide!
  • CPCat
    2021-10-08
    CPCat
    Hope this is the start of a rally. Is your warchest ready?
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