Shares of Chinese companies listed in the U.S. jumped Monday after China loosened more Covid restrictions to accelerate the reopening of the economy.
The Invesco Golden Dragon China ETF, which tracks the Nasdaq Golden Dragon China Index, rallied nearly 6% in premarket trading. Alibaba and Pinduoduo popped 4.3% and 3.8%, respectively, while Tencent Music Entertainment gained 3.9%. Chinese electric vehicle names Nio and XPeng rallied 6% and 12%, respectively. Bilibili rallied 16%.
