Chinese Stocks Gain $70 Billion As Ant Group’s New $1.5 Billion Plan Fuels Investor Optimism

initial public offering was axed by Beijing in 2020 as authorities cracked down on China’s growing technology sector.owner of Ant Group which is by far the largest U.S.-listed Chinese firm, skyrocketed 13% in the U.S., adding $40 billion in market cap, while fellow e-commerce firms Pinduoduo and JD.com gained 8% and 15%.

Meanwhile, major U.S. stock indexes were flat, with the Dow Jones Industrial Average, S&P 500 and tech-heavy Nasdaq each adding less than 0.8%.The squashing of Ant Group’s $34.5 billion IPO in 2020 set forth an increasingly unfavorable environment for the private sector in China, with the strictest pandemic restrictions among any major economy, which have recently eased, also weighing on companies.

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Alibaba helps lead rally in China internet stocks amid an encouraging sign for Ant GroupAlibaba was helping to lead U.S.-listed shares of China internet companies higher in Wednesday's premarket action amid signs of encouraging activity in China Overbought and overreaction per usual. China is far from out of the woods
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »