Archegos-Linked Stocks Advance as Fallout Fears Ease
- Shares from ViacomCBS to Baidu edge higher on Tuesday
- Archegos says it’s ‘a challenging time’ for the family office
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The stocks at the center of the Archegos Capital Management crisis posted gains Tuesday as fallout from the fund’s liquidation appeared to be contained and no additional block trades were reported.
ViacomCBS Inc. rose 3.6% in New York following its weeklong plunge, with Discovery Inc. and Tencent Music Entertainment Group both climbing more than 4%. The American depositary receipts of Chinese companies also gained, with GSX Techedu Inc. boosted by a planned stock purchase by its chief executive officer, and Vipshop Holdings Ltd. helped by a $500 million buyback proposal.