: U.S.-listed Chinese stocks rise as China eases COVID-19 lockdown restrictions

by | Dec 27, 2022 | Stock Market

Shares of some U.S.-listed Chinese companies advanced on Tuesday on optimism that easing of the country’s COVID-19 travel restrictions on foreigners would deliver a business boost. China’s National Health Commission said as of Jan. 8, it will drop the COVID-19 quarantine requirement for passengers arriving from abroad.

Chin has kept foreigners locked out, and its citizens locked in, for more than 2 1/2 years. See: China turns a corner on COVID as it lifts quarantines for foreigners Among American-listed stocks of China businesses, Alibababa Group Holdings Ltd.
BABA,
+3.47%
rose 3.5%, while Baidu Inc.
BIDU,
+2.85%
moved up by 2.9%. Pinduoduo Inc.
PDD,
+1.90%
rose by 3%, JD.com Inc.
JD,
+3.60%
rose 2.5% and NetEase Inc.
NTES,
+1.86%
moved up by 1.8%. Yum China Holdings Inc.
YUMC,
+2.22%
advanced by nearly 2%, while Trip.com Group
TCOM,
+2.56%
rose by 2.1% and KE Holdings Inc.
BEKE,
+4.97%
moved higher by 3.1%. Shares of NIO Inc.
NIO,
-8.71%
fell 8%, however, after the company warned of a cut in fourth-quarter deliveries due to COVID-related production challenges and continued supply chain constraints. Rivals Li Auto Inc.
LI,
-3.07%
shed 3% and XPeng Inc. 
XPEV,
-2.63%
moved lower by nearly 4%.

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