Chinese stocks are gaining on Friday and we’re diving into why in a market update today!
According to recent reports, China is considering releasing audits of companies that trade publicly in the U.S. This would allow the stocks to continue trading in the country and comes after reports that they could be removed for withholding this information.
The initial fears of Chinese stocks being removed from trade on U.S. exchanges saw shares experiencing a rough time earlier this week. However, now those shares are recovering alongside today’s positive news, CNBC notes.
In addition to that, we’re also seeing an increase in Chinese electric vehicle (EV) stocks today. That comes after several EV companies in the country reported delivery data for the month of March.
All of this news has investors taking extra interest in Chinese stocks today. Let’s go over how that’s affecting them below!
Why Are Chinese Stocks Up Today?
- Alibaba (NYSE:BABA) stock starts off our list with a more than 6% gain as of Friday morning.
- DiDi Global (NYSE:DIDI) shares are up next with the company’s stock climbing over 15% this morning.
- Pinduoduo (NASDAQ:PDD) stock takes its place on our list with shares getting a more than 9% boost as of this writing.
- Bilibili (NASDAQ:BILI) shares join the Chinese stocks rising today with an over 12% rise in price.
- JD.Com (NASDAQ:JD) stock is another seeing the benefits of today’s news with shares jumping more than 4% on Monday.
- Nio (NYSE:NIO) shares are climbing over 9% higher in trading this morning.
- Baidu (NASDAQ:BIDU) stock closes out our list with the company’s shares heading more than 8% higher today.
There’s more stock market news for traders to sink their teeth into below!
We’ve got all the hottest news traders want to know about for Friday! Among that is Fisker (NYSE:FSR) stock rising, today’s pre-market stock movers, as well as what’s happening with BlackBerry (NYSE:BB) stock after releasing its earnings report. You can find all of this info at the following links!
More Friday Stock Market News
- Why Is Fisker (FSR) Stock Up Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- Is BB Stock a Buy After Earnings? 3 Analysts Weigh In on Blackberry Prices.
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.