Tuesday’s gains in Chinese stocks are due to a rebound in shares of Chinese businesses following yesterday’s decline.
As part of China’s zero-Covid policy, ongoing lockdowns contributed to yesterday’s dip. China’s own people and markets have been affected by restrictions pertaining to Covid-19 for some time. All of this came to a head over the weekend, when citizens who were sick of having to deal with the restrictions staged protests.
The Chinese government has stated that it will loosen restrictions on Covid-19 as a response. As the nation also works to raise vaccination and booster rates among its citizens, this could result in fewer lockdowns.
As a result of this news, Chinese stocks have rallied today in the hope that the economy of the country will recover. Let’s take a look at some of those stocks below to see how this is affecting them!
Today, Chinese stocks rose Nio (NYSE:The Chinese electric vehicle (EV) company’s shares rose 7.1% on Tuesday morning, kicking off today’s discussion.
Alibaba, Inc.BABA)
shares are the next item on our list, and as of this writing, the Chinese e-commerce company’s stock has increased by 5.7%.
Alibaba (NASDAQ:The shares of BIDU) stock, which gained 6.4% this morning, are added to the list.
The company BilibiliOur list of rising Chinese stocks comes to an end today with BILI, whose shares have increased by 22.6% as of this writing.
Continue reading if you’re an investor looking for more recent stock market news!
On Tuesday, we have everything you need to know about the hottest stock news!Polestar’s (NASDAQ: ) shares are among those.PSNY), and NanoVibronixToday’s news includes NAOV) and Chinese EV stocks. You can figure out additional on these issues at the accompanying connections!
More on Tuesday’s stock market: Why is Polestar (PSNY) stock recovering from a 13 percent plunge? What is happening with NanoVibronix (NAOV) stock right now?
Why are EV stocks rising today in China?
William White did not have any positions—directly or indirectly—in the securities mentioned in this article as of the date of publication. Subject to the InvestorPlace.com Publishing Guidelines, the author’s opinions are expressed in this article.
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