Shares of U.S.-listed Chinese tech companies Alibaba Group Holdings Ltd. BABA, JD.Com Inc. JD, Tencent Holdings ADR TCEHY and BaiduInc. BIDU traded significantly higher in Hong Kong on Monday (Hong Kong time).<\/p>\n
The rally was spurred by investors cheering as Beijing eased an audit dispute that has threatened U.S.-listed Chinese companies with delisting.<\/p>\n
The Macro Factors: The Hang Seng Index was up 1.15% to 22,283 at 10.51 a.m. local time. Meanwhile, the Tech Index jumped nearly 3%.<\/p>\n
On Saturday, in the revised draft rules, the China Securities Regulatory Commission (CSRC) said that it withdrew a requirement that only Chinese regulators conduct on-site audit inspections of Chinese companies listed overseas.<\/p>\n
It said the changes were made to accommodate the new circumstances and developments concerning overseas securities listings and offerings.<\/p>\n
Over 200 companies from Mainland China are listed on the U.S. Stock Exchanges.<\/p>\n
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Why Alibaba And Other Big Tech Stocks Are Shooting Up In Hong Kong Today - Benzinga - Benzinga<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Shares of U.S.-listed Chinese tech companies Alibaba Group Holdings Ltd. BABA, JD.Com Inc. Continue reading