U.S.-Listed Chinese Stocks Soar After Record Singles’ Day Sales
- Nasdaq Golden Dragon China Index jumps by most since October
- Alibaba and JD.com reported record sales for Singles’ Day
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Shares of Chinese companies listed in the U.S. rallied Thursday amid investor optimism after blowout Singles’ Day sales and a report that Didi Global Inc. is getting ready to relaunch its apps.
The Nasdaq Golden Dragon Index jumped 5.1%, the most since Oct. 7, after Alibaba Group Holding Ltd. and JD.com’s Singles’ Day shopping festival posted record sales. A report that ride-hailing company Didi Global is getting ready to launch its apps in China by the end of the year also gave stocks mired in Beijing’s regulatory clampdown earlier this year a boost.