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China Tech Stocks May Open Higher After Alibaba Revenue Beat

  • Alibaba rose 1.8% in the US while, PDD each up over 3%
  • Golden Dragon China Index has gained 41% since March Low headquarters in Beijing. headquarters in Beijing.

Photographer: Qilai Shen/Bloomberg
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Hong Kong-listed Chinese tech stocks may get a boost after mainland firms traded in the US rallied in the wake of Alibaba Group Holding Ltd.’s better-than-expected revenue despite China’s ongoing economic woes. Inc. and Pinduoduo Inc. gained more than 3.2% and Baidu Inc. was up 2.5%. US-listed Alibaba shares rose for a fourth consecutive day, paring earlier gains to close 1.8% higher. The Nasdaq Golden Dragon Index advanced 2.3% in its biggest one-day climb in about a month.