Chinese ADRs and ETFs Jump. Alibaba, Baidu, YINN up over 4%; NIO, CWEB, Pony AI up over 3%; XPeng, Li Auto up over 2%
Tiger Newspress
Oct 02
Chinese ETFs and ADRs jumped as signs of stabilisation in the property sector and gains in technology firms boosted sentiment.
Alibaba, Baidu, YINN up over 4%; NIO, CWEB, Pony AI up over 3%; XPeng, Li Auto up over 2%.
China’s home sales by the 100 largest developers edged up 0.4 per cent in September to 252.8 billion yuan (US$35.5 billion) from a year earlier, reversing a 17.6 per cent drop in August, data from China Real Estate Information Corporation showed on Wednesday.
The modest recovery follows nearly three years of incremental policy support, including recent eased purchase rules in Beijing and Shanghai.
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