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Alibaba, JD.com and Other Chinese Stocks Are Flying Amid Covid Rule Rumors

Alibaba, JD.com and Other Chinese Stocks Are Flying Amid Covid Rule Rumors | Barron’s

Shares in Chinese companies were rallying on Tuesday amid renewed optimism that the country would loosen its strict Covid-19 measures which have dampened growth in the world’s second-largest economy.

Hong Kong’s


Hang Seng Index

surged 5.2% on Tuesday, led by the


Hang Seng Tech Index

which gained 7.8%. Chinese tech stocks listed in New York were also buoyed, with


Alibaba

(ticker: BABA) up 6% in the premarket and e-commerce peer


JD.com

(JD) 7% higher.


Baidu

(BIDU) rose 6% and


Pinduoduo

(PDD) jumped 8%.

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