Why Are Chinese Stocks BABA, JD, BIDU, PDD, BILI Up Today?

  • Chinese stocks are gaining today as the country eases certain restrictions.
  • That includes handing out more domestic video game licenses.
  • This is renewing hope in investors of Chinese tech stocks.
Three friends playing a mobile game against each other representing Chinese Stocks.

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Chinese stocks are on the move Wednesday after the country took further steps to embolden tech companies.

Today’s news includes the country handing out new domestic licenses for video games. This is the second time it’s done so with the first being last year. China initially paused handing out these licenses as it tackled how to limit play time for minors.

This, as well as other recent actions from the Chinese government, has it reducing restrictions on its tech companies. That is, in turn, boosting morale among investors hoping the stocks will rise in price.

Let’s go over how several Chinese stocks are moving today alongside the video game license news below!

Chinese Stocks Moving on Wednesday

  • Alibaba (NYSE:BABA) stock starts us off today with the tech company’s shares rising 7.2% as of Wednesday morning.
  • JD (NASDAQ:JD) shares are next, with the Chinese company’s stock gaining 4.8% as of this writing.
  • Baidu (NASDAQ:BIDU) stock joins our list as the company’s shares get a 1.4% boost this morning.
  • Pinduoduo (NASDAQ:PDD) shares are among those gaining today, with the company’s stock seeing a 4.8% increase as of this writing.
  • Bilibili (NASDAQ:BILI) stock closes out our list as it climbs 2.7% higher this morning.

There’s more recent stock market news for investors to dive into below!

InvestorPlace offers up all the hottest stock market coverage in one place! For Wednesday, that includes Roku (NASDAQ:ROKU) stock rising higher, what’s hitting cruise stocks as well as an update on Nio (NYSE:NIO) shares. You can catch up on this news at the following links!

More Wednesday Stock Market News

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/2022/06/why-are-chinese-stocks-baba-jd-bidu-pdd-bili-up-today/.

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