Chinese Tech Stocks: Why Are DIDI, JD and BABA Moving Higher Today?

Chinese tech stocks are on the move Wednesday and we’re diving into the latest news moving the shares!

A photo of the Shanghai skyline at night featuring the Oriental Pearl Tower representing Chinese tech stocks.

Source: ESB Professional / Shutterstock.com

The big news behind the rise in Chinese tech stocks today is investors buying up shares. Following major selloffs over the last couple of weeks, it looks like traders have finally found the bottom of these stocks and are buying those dips. This has the shares pushing higher alongside increasing trading activity.

Showing that increase is the Hang Seng Tech Index. It saw a 5% jump this morning and is working toward climbing back from its major drop last week. Even so, it still has a ways to go before it reaches where it was in February 2021, reports Bloomberg.

Let’s take a look at how this is affecting some of the biggest Chinese tech stocks below!

Chinese Tech Stocks Rising

  • DiDi Global (NYSE:DIDI) stock starts us off with shares rising more than 2% in early trading Wednesday morning. That comes with some 9 million shares of the move, as compared to its daily average trading volume of 21.8 million shares.
  • JD.Com (NASDAQ:JD) shares are up next with shares sitting slightly higher after a major push and dip this morning. Along with that is over 5 million shares changing hands, which is a good start toward its daily average trading volume of 10.5 million shares.
  • Alibaba (NYSE:BABA) stock finishes off our Chinese tech stocks rising with a more than 3% gain as of this writing. With that comes nearly 13 million shares of the stock having been traded with its daily average trading volume sitting at about 23.2 million shares.

Investors seeking more stock market news will want to stick around!

We’ve got all the most recent stock coverage that traders need for Wednesday. Among that is what’s happening with Jaguar Health (NASDAQ:JAGX) stock and Kidpik (NASDAQ:PIK) shares, as well as this morning’s biggest pre-market stock movers. You can learn more at the following links!

More Stock Market News for Wednesday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/01/chinese-tech-stocks-why-are-didi-jd-and-baba-moving-higher-today/.

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