Shares of Chinese retailers Alibaba and JD.com were rising on Friday after a report saying that the government is considering easing restrictions on foreign ownership of domestically listed companies.
Alibaba finished 3.9% higher in Hong Kong. Its American depositary receipts climbed 4.8% in premarket trading. JD.com was up 4% in early trading. China may relax limits on how much foreigners can own of publicly listed companies in the country, Bloomberg reported, citing unidentified people familiar with the matter. That might improve investor confidence in stock markets in Shanghai, Shenzhen and Beijing.
The government has set a target of 5% growth for the world’s second-largest economy this year, a goal that may be difficult to meet.
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