Chinese stocks are rising higher on Friday as investors react to positive reports out of the country.
What really has investors excited is talk that China’s leaders are reconsidering its zero-Covid policy. This has been a long-time dampener on Chinese stocks as ongoing lockdowns have continued to put economic pressure on companies.
According to the latest reports, China’s regulators are urging local authorities to not be too harsh with their reactions to Covid-19 cases. That’s a stark shift from the previous policy of locking down cities at the slightest surge in cases.
With reports that these restrictions are easing up, it only makes sense that Chinese stocks are gaining as well. Investors likely see this as a catalyst that will result in many of the companies behind these shares getting a boost.
Here’s a few examples of Chinese stocks that are benefitting from today’s news!
Chinese Stocks Up on Friday
- Alibaba (NYSE:BABA) stock is climbing 6.7% higher as of Friday morning.
- JD.com (NASDAQ:JD) stock is seeing a 9.1% increase as of this writing.
- XPeng (NYSE:XPEV) stock is charging 16% higher as of this morning.
It’s more than just Chinese stocks on the move today, as other shares are rising and falling.
Let’s get into all of the latest stock market news traders need to know about on Friday! A few examples include what has shares of Lyft (NASDAQ:LYFT) stock, Carvana (NYSE:CVNA) stock and Nio (NYSE:NIO) stock moving today. You can get up to speed on all of that news at the following links!
More Friday Stock Market News
- Lyft Layoffs 2022: What to Know About LYFT Job Cuts
- CVNA Stock Alert: Carvana Crashes After Missing Estimates
- Why Is NIO Stock Up 10% Today?
On the date of publication, William White did not hold (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.