Why Tencent Music, iQIYI, and Bilibili Stocks Jumped Today
Shares of Chinese tech stocks Tencent Music Entertainment (NYSE: TME), iQIYI (NASDAQ: IQ), and Bilibili (NASDAQ: BILI) were all rising today as the Chinese government indicated it's taking steps to help support the country's economy and ease off of some restrictions on technology companies.
Tencent Music's share price was up by 5.2%, iQIYI had gained 8%, and Bilibili had jumped 11.4% as of 2:46 p.m. ET.
Investors in Chinese tech stocks have experienced a rough few months, as the country's government has implemented its strict "zero-COVID" policy, which has put many major Chinese cities into lockdown, including Shanghai currently.
Source Fool.com
