onsdag 6. april 2022

Chinese stocks on Wall Street aren't in the clear yet

Investors are breathing a sigh of relief after regulators in Beijing extended an olive branch to the United States, indicating they could change their policies so that Chinese companies could avoid getting kicked off Wall Street. What's happening: Shares of tech giant Alibaba (BABA) in New York rallied almost 7% on Monday. E-commerce platforms Pinduoduo (PDD) and JD.com (JD) leaped 16% and 7%, respectively.
But the celebration may have been a bit premature, as negotiators from the United States and China continue to hammer out the details and tensions between the world's two largest economies simmer beneath the surface.

"The policy is still evolving, and there's still a lot of uncertainty," Xiaomeng Lu of the consultancy Eurasia Group told me.

Over the weekend, the China Securities Regulatory Commission, the country's top securities watchdog, proposed changing a decade-old rule that forbids Chinese firms from sharing sensitive data and financial information with overseas regulators.