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Alibaba, US-Listed China Stocks Soar as Crackdown Fears Ease

  • Nasdaq Golden Dragon hits two-month high as S&P 500 drifts
  • Report Beijing near end of Didi probe boosts sector sentiment
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China to Wrap Probe Into Ride-Hailing Giant Didi, Report Says
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US-listed China stocks surged Monday to the highest since early April on increased speculation that a year-long government crackdown on the technology industry is easing.

While the S&P 500 Index struggled to mount much of an advance, the Nasdaq Golden Dragon Index closed 5.4% higher after surging as much as 8.3%, as Chinese regulators were said to be close to wrapping up their investigation of Didi Global Inc. The company’s American depositary receipts soared 68% at the start of US trading before paring some of those gains, leaving them up more than 24% from Friday’s close.