Why Are Chinese Stocks BABA, NIO, XPEV Up Today?


  • Chinese stocks are climbing higher on two pieces of news.
  • That includes regulators suggesting easing data restrictions.
  • Goldman Sachs also expects improvements from Chinese stocks later this year.
Chinese Stocks - Why Are Chinese Stocks BABA, NIO, XPEV Up Today?

Chinese stocks are on the rise Friday after regulators in Beijing commented on potential changes to data information rules.

Regulators in Beijing have said that China may be willing to ease up on restrictions surrounding data. That means that tech companies wouldn’t have to worry about as strict of rules when it comes to transferring data between countries.

In addition to this news, Chinese stocks are also rising alongside positive comments from Goldman Sachs. Kinger Lau, chief China equity strategist and managing director at the firm, expects the Chinese stock market to improve near the end of 2023.

Let’s check into how these two pieces of news are affecting Chinese stocks below!

Chinese Stocks Up on Friday

  • Alibaba (NYSE:BABA) stock starts off our Chinese market coverage today, with shares climbing 2.5% as of Friday morning. That comes as 2.4 million shares change hands, as compared to a daily average of 16.7 million.
  • Nio (NYSE:NIO) shares are next on our list as the Chinese electric vehicle (EV) company’s stock jumps 1.1% today. Some 10 million shares are trading as of this writing, with the company’s daily average sitting at 62 million shares.
  • Xpeng (NYSE:XPEV) stock finishes our Chinese shares climbing higher today with a 3.8% gain as of this writing. XPEV is seeing 2.4 million shares trade today, with its daily average being 20.7 million shares.

Investors seeking out even more of the most recent stock market stories for Friday will want to keep reading!

We’re offering up all of the hottest stock market news that traders need to know about today! A few examples of that include everything happening with shares of GameStop (NYSE:GME), Meta Platforms (NASDAQ:META) and Blue Apron (NASDAQ:APRN) stock today. All of that news is available at the following links!

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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/2023/09/why-are-chinese-stocks-baba-nio-xpev-up-today/.

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