BUZZ-China ADRs rise as tech rally lifts domestic stocks

Reuters
02-21
BUZZ-China ADRs rise as tech rally lifts domestic stocks

** U.S.-listed shares of Chinese companies rise premarket

** Chinese tech stocks in Hong Kong rise on Friday, marking their best weekly streak since 2020, driven by earnings surprises and optimism about artificial intelligence sector drawing attention from global investors

** E-commerce firms Alibaba Group Holding BABA.N rises 4.2%, JD.com Inc JD.O gains 1.7% and PDD Holdings PDD.O up 2.1%

** Gaming stocks Bilibili Inc BILI.O surges 6% and peer NetEase Inc NTES.O up 1.3%, while search engine giant Baidu Inc BIDU.O adds 3.5%

** EV firms Li Auto Inc LI.O gains 5.8% , Nio Inc NIO.N rises 3.2% and Xpeng Inc XPEV.N adds 4.2%

** Music streaming co Tencent Music Entertainment Group TME.N rises 6.1% and online video platform IQIYI Inc IQ.O gains 3.7%, while social media co Weibo Corp WB.O advances 2.7%

** Online education firms Gaotu Techedu Inc GOTU.N gains 4.7%, TAL Education Group TAL.N adds 2.8% and New Oriental Education & Technology Group Inc EDU.N up 0.2%

** Online brokerages Futu Holdings Ltd FUTU.O and UP Fintech Holding Ltd TIGR.O gain 6% and 5.4%, respectively

** China ETFs IShares MSCI China ETF MCHI.O and China Large-Cap ETF FXI.N adds 1.9% and 1.6%, respectively; KraneShares CSI China Internet ETF KWEB.K gains 3.3%, while Direxion China CSI Daily Bull 2X CWEB.K advances 6.9%

(Reporting by Sanchayaita Roy in Bengaluru)

((sanchayaita.roy@thomsonreuters.com))

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