U.S.-listed China technology stocks are surging premarket!
After the two countries struck a deal over audit inspections that could avert the mass delisting of Chinese companies from American exchanges.
American depositary receipts for Alibaba, JD.com and Pinduoduo were all up more than 5% recently.
*Tweet on China’s stock news and audit with U.S
China Tech Stocks Rise on Audit Deal!
U.S-listed China technology stocks are surging premarket, after the two countries struck a deal over audit inspections @AlibabaGroup https://t.co/ShdJlsgAGv @PinduoduoInc were all up more than 8%, Bloomberg reports https://t.co/AiMOLbebny
— The_Journalbiz (@the_journalbiz) August 26, 2022
The gains build on a rally in the previous session, which lifted the Nasdaq Golden Dragon China Index by more than 8%.
The SEC’s Gary Gensler says agreeing a deal with China over audit inspections is “merely a step in the process
- The Wall Street Journal reported Thursday that U.S. and Chinese regulators were nearing agreement.
Securities and Exchange Commission Chairman Gary Gensler cautions that the agreement is “merely a step in the process.” as per the SEC’s announcement.