Alibaba and Other Chinese Stocks Fly Even as China Denies Easing Covid Rules

Chinese stocks rallied on Tuesday amid speculation that officers had been inspecting eventualities to conclude or loosen the country’s draconian zero-Covid plan that has crushed expansion in the world’s 2nd-largest economic climate this year.

Hong Kong’s Hang Seng Index—which has experienced its worst-carrying out 12 months in much more than a decade—saw the greatest intraday leap at almost 7%. Shares of Hong Kong-detailed tech companies this kind of as

Alibaba Group Holding


(ticker: 9988.Hong Kong) and

JD.com


(9618.Hong Kong) skyrocketed.

Alibaba


US-mentioned shares (BABA) were up 5.5% in New York trading on Tuesday even though

JD.com


(JD) climbed 5.1%.

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