Why Small-Cap Chinese Stocks Were Soaring Today
Chinese tech stocks were rallying across the board today with small-cap players Huya (NYSE: HUYA), Baozun (NASDAQ: BZUN), and Hello Group (NASDAQ: MOMO) among the winners.
The major news driving the sector higher was that political leaders once again said they would take steps to end the crackdown on the tech sector, and to support the economy after tightening regulation had dragged down Chinese stocks and slowed economic growth.
As of 12:19 p.m. ET, Huya was up 9%, Baozun had jumped 13.1%, and Hello Group had gained 17.3%.
Source Fool.com
