China Stocks in U.S. Rally as Dip Buyers Help Halt Slide
- Pinduoduo and JD.com jumped by more than 6% on Wednesday
- Nasdaq Golden Dragon China Index is still down 18% this year
This article is for subscribers only.
Chinese stocks traded in the U.S. got a boost as dip buyers helped halt a five-day losing streak after the shares rollercoastered during the Asia trading day.
American depositary receipts for technology giants Pinduoduo Inc. and JD.com Inc. both rose by more than 6% on Wednesday. Other large-cap China firms including Alibaba Group Holdings Ltd., NetEase Inc. and Baidu Inc. all closed higher by 3.5% or more. The Nasdaq Golden Dragon China Index climbed 6.4%, its biggest jump since January.
Have a confidential tip for our reporters? Get in Touch
Before it’s here, it’s on the Bloomberg Terminal
LEARN MORE
Up Next
China Stocks in U.S. Rally as Dip Buyers Help Halt Slide