Chinese stocks are rallying on Monday as investors get more hopeful news of the country loosening its Covid-19 restrictions.
Over the weekend, China reportedly let go of some of its restrictions on certain cities affected by the pandemic. Those ongoing restrictions were stifling China’s economy and negatively affecting the stocks of public companies headquartered in the country.
To go along with this news, Morgan Stanley has issued several upgrades for Chinese stocks today. This saw it increase its rating for Chinese equities from “equal weight” to “overweight.” The firm did so following the news of easing restrictions in the country.
Let’s check out how today’s news is affecting some major Chinese stocks below!
Chinese Stocks on the Move Monday
- Alibaba (NYSE:BABA) stock starts us off with the e-commerce company’s shares gaining about 1% as of Monday afternoon.
- Bilibili (NASDAQ:BILI) shares are down around 1% as of this writing following a rally in morning trading.
- Nio (NYSE:NIO) stock is also falling after this morning’s rally; the electric vehicle (EV) company’s shares are down 2.7% this afternoon.
- Xpeng (NYSE:XPEV) shares join the list of Chinese stocks on the move today, seeing a 4% decline after its rally early this morning.
Investors searching for more of the latest stock market new will want to keep reading!
InvestorPlace is home to all of the hottest stock news traders need to know about on Monday. Among that is what has shares of Yumanity Therapeutics (NASDAQ:YMTX), VF Corporation (NYSE:VFC) and Chinese EV stocks on the move today. You can read up on all of that news at the following links!
More Monday Stock Market News
- Why Is Yumanity Therapeutics (YMTX) Stock Up Today?
- Why Is VF Corporation (VFC) Stock Down 8% Today?
- Why Are Chinese EV Stocks Trending 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.