24H | Chinese ADRs Extend Rally. Fangdd up over 8%; KE Holdings up 7%; NIO up 5%; NetEase up 4%; Alibaba up 3%; PDD Holdings up Nearly 2%
Chinese ADRs extended rally in overnight trading. Fangdd up over 8%; KE Holdings up 7%; NIO up 5%; NetEase up 4%; Alibaba up 3%; PDD Holdings up nearly 2%.
Asian companies are starting their busiest week for earnings this season, with investors particularly keen to see if Chinese firms will deliver on expectations amid a blistering rally.
Of the more than 1,200 MSCI Asia Pacific Index constituents, about 390 firms — including PetroChina Co., PDD Holdings Inc., BYD Co. and Bank of China Ltd. — are set to report earnings this week.
Traders will be watching for signs of stabilizing or improving corporate profits, which may help strengthen confidence that China’s rally may broaden or endure.
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