Chinese Stocks in U.S. Top S&P With Best Month in Three Years

(Bloomberg) — Chinese stocks listed in the U.S. staged their best month since early 2019, as investors chase returns with American equities struggling amid mounting recession fears.

The Nasdaq Golden Dragon China Index closed up 16% in June following its 2.6% gain in May, marking its first two-month winning streak since February 2021, right before the shares started to collapse over Beijing’s regulatory crackdowns. New Oriental Education & Technology Group was among top gainers with a 56% climb, while Li Auto Inc. and XPeng Inc. each climbed more than 30%. Tech giant Alibaba Group Holding Ltd. rose 18%.