Why Shares of Alibaba, JD.com, and PDD Holdings Are Rising Today
Shares of several Chinese tech stocks nudged higher today, as investors grew optimistic that the government's crackdown on the space may be coming to an end. Tech stocks, in general, also rose after a positive inflation report in the U.S.
Shares of the large Chinese tech conglomerate Alibaba Group (NYSE: BABA) traded nearly 2.5% higher as of 10:51 a.m. ET today. Meanwhile, shares of JD.com (NASDAQ: JD) traded more than 4% higher, while shares of PDD (NASDAQ: PDD) were up nearly 5%.
It's been a much more difficult year for Chinese tech stocks than the broader tech sector, which has been cruising this year. But investors are getting more bullish on hopes that the Chinese government's regulatory crackdown on the Chinese tech sector is at an end.
Source Fool.com
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