Apr 05, 2022 05:43 AM

FINANCE

Alibaba, Didi Fuel $93 Billion Rally for Chinese Stocks in U.S.

Beijing’s draft rules addressing American audit inspection requirements ease concerns that dozens of stocks will be kicked off U.S. exchanges

Beijing’s draft rules addressing American audit inspection requirements ease concerns that dozens of stocks will be kicked off U.S. exchanges

(Bloomberg) — Alibaba Group Holding Ltd. and Didi Global Inc. rallied for a second day, adding $93 billion in value to U.S. listed Chinese stocks as fears of potential delistings eased.

The Nasdaq Golden Dragon China Index jumped 7.4% Monday, adding to Friday’s climb after Beijing regulators published revised draft rules scrapping requirements that on-site inspections should be mainly conducted by Chinese regulatory agencies.

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