Caixin
Jun 09, 2022 05:24 PM
FINANCE

Alibaba, Bilibili Extend Gains as China Approves More Games

Icon for the Bilibili Inc. application on a smartphone arranged in Hong Kong, China Photo: Bloomberg
Icon for the Bilibili Inc. application on a smartphone arranged in Hong Kong, China Photo: Bloomberg

(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%.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST
Caixin China Biz Roundup: China Cuts Key Interest Rates as Economy Weakens
00:00
00:00/00:00