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China Stocks in U.S. Bounce as Dip Buyers Draw Line Under Rout

  • Alibaba, Tencent still retreat for fourth straight session
  • Nasdaq Golden Dragon China Index down over 70% from peak
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WATCH: UBS’s Hartmut Issel discusses the outlook for Chinese stocks.Source: Bloomberg
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Chinese stocks listed on U.S. exchanges recouped some losses on Tuesday as dip buyers emerged following a brutal 29% slump in the past three days that erased $207 billion in market value.

The Nasdaq Golden Dragon China Index bounced in tandem with a broader market rally and closed 5% higher after rising as much as 8% earlier in the day. This came after the gauge posted its worst three-day drop on record amid renewed regulatory concerns, rising Covid cases and geopolitical tensions.