DiDi, Nio, Alibaba stocks surge, amid signs China’s regulatory hold on tech continues to ease

The U.S.-listed shares of China-based companies enjoyed a broad rally Wednesday, after China regulators released a list of 60 online games that were approved, another sign of easing of the regulatory crackdown on the country’s technology sector. The Invesco Golden Dragon China ETF was indicated up more than 2% in premarket trading Wednesday, with the bulk of its components gaining ground. Among the ETF’s (PGJ) more-active members, shares of Nio Inc. climbed 3.7%, Alibaba Group Holding Ltd. rallied 4.0%, Pinduoduo Inc. hiked up 4.2% and Bilibili Inc. advanced 8.2%. Shares of mobile games developer NetEase Inc. gained 3.4%, even though the list of approved games didn’t include one from the company. Ride hailing company DiDi Global Inc.’s stock , which isn’t a PGJ component, surged 4.9%. On Monday, DiDi shares had soared 24.3% after The Wall Street Journal reported regulators let the company add new users. The PGJ has jumped 10.4% over the past three months through Tuesday but was still down 15.4% year to date, while the S&P 500 has slipped 0.2% the past three months and has lost 12.7% this year.

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