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.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Innovation Takes Off at Flying Vehicle Expo

PODCAST

Caixin Deep Dive: How China’s Crypto Ban Makes Disposing of Seized Assets a Lot Harder

00:00

00:00/00:00

MOST POPULAR

1: Meituan Enters Open-Source AI Race With LongCat Model

2: Ex-UBS Banker in Hong Kong Jailed 10 Years for Laundering $17.2 Million

3: Alipay Fined by Luxembourg Regulator for Anti-Money Laundering Breaches

4: China Slaps Up to 78% Tariffs on U.S. Fiber Optic Imports in First-Ever Anti-Circumvention Case

5: Chinese Regions Dial Back Car Subsidies as Funds Dry Up

SPONSORED

OR