Alibaba, Bilibili Extend Gains as China Approves More Games

(Bloomberg) — U.S.-listed Chinese stocks rallied for a third day after China approved a second batch of video games this year, marking a further softening in the country’s stance toward internet firms.

The Nasdaq Golden Dragon China Index gained 5.7% on Wednesday, hitting a three-month high and extending an 8.9% rally across the previous two sessions. Tech giant Alibaba Group Holding Ltd. was among the top gainers, advancing 15% to its highest since early February. Live-streaming platform Bilibili Inc. jumped 6%, while e-commerce firm JD.com rose 7.7%.