Why JD.com, Bilibili, and Pinduoduo Stocks Popped Friday
On Thursday, as Chinese tech stocks tumbled on news of a second round of U.S. listed Chinese equities being added to the SEC's soon-to-be-delisted list, I highlighted a glimmer of hope:
Over in China the South China Morning Post reported that the Chinese government had "empowered" its China Securities Regulatory Commission (CSRC) "to find a mechanism to comply with overseas accounting regulations" and that "a new approach is being considered, where China's finance ministry vets the audit data for state secrets and personal information before handing it over" for review by U.S. auditors.
Today, that glimmer got a bit brighter, and Chinese tech stocks are heading higher:
Source Fool.com
