Nio's, Alibaba's stocks get a boost from China's cyberspace regulator

Shares of Nio Inc. and Alibaba Group Holding Ltd, as well as the stocks of other China-based companies, got a nice boost Friday, after the Cyberspace Administration of China proposed the easing of cross-border data-security controls.

Among other China-based EV makers, shares of Li Auto Inc. LI, -1.23% leapt 2.6%, to bounce off a three-month low, and of Xpeng Inc. XPEV, +3.18% surged 4.5%. The stocks were getting a lift Friday after China’s cyberspace regulator proposed draft rules in which transfers of data, including those related to international trade, global manufacturing and marketing activities that don’t contain personal information, would no longer need a rigorous security review, as Dow Jones Newswires reported overnight.The iShares MSCI China ETF MCHI hiked up 1.7% ahead of Friday’s open, while futures ES00, +0.37% for the S&P 500 index SPX tacked on 0.4%.

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Exclusive: China's Nio explores investment, tech alliances with MercedesNio has held exploratory talks with Mercedes-Benz for a tie-up that would see the German automaker invest in the Chinese electric vehicle startup in exchange for technology, two people with direct knowledge of the matter said.
La source: Reuters - 🏆 2. / 97 Lire la suite »

Exclusive-China's Nio explores investment, tech alliances with MercedesExclusive-China's Nio explores investment, tech alliances with Mercedes - sources
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Alibaba, NIO, XPeng Stocks Climb. Chinese Businesses Get a Regulatory Boost.China's cyberspace regulator's proposal is seen as a move to boost business activity and is particularly good news for the country’s multinational companies.
La source: MarketWatch - 🏆 3. / 97 Lire la suite »