Why Are Chinese Stocks BABA, BILI, IQ Up Today?
Chinese stocks are climbing higher on Friday as investors continue to hope that the country will ease off of Covid-19 restrictions.
China remains one of the few countries in the world still holding firm to lockdowns and restrictions due to the pandemic. However, that has been weighing on its economy for some time and is causing problems.
There has been increasing talk lately that China will abandon its zero-Covid policy in favor of a full reopening. While that hasn’t happened yet, China is moving forward with vaccination and booster shots ahead of a potential reopening.
When Will China Reopen?
Current forecasts have China reopening in the first half of 2023. This isn’t an official outline from the Chinese government. Instead, it’s expectations from experts as they predict the country will slowly loosen restrictions in the coming months.
These predictions are doing wonders for Chinese stocks today. Several shares are on the rise as investors regain hope that the lockdowns will come to an end soon. Here’s a quick breakdown of some of the stocks on the rise today.
Chinese Stocks Up on Friday
- Alibaba (NYSE:BABA) stock starts us off with the e-commerce company’s shares climbing 5.8% higher as of Friday afternoon.
- Bilibili (NASDAQ:BILI) shares next on our list with the stock gaining 16% as of this writing.
- IQIYI (NASDAQ:IQ) stock finishes our list with shares getting a 13.2% boost this afternoon.
Investors looking for more of the hottest stock market news will want to keep reading!
We’ve got all of the latest stock news moving shares on Friday! A few examples include what has shares of Bath & Body Works (NYSE:BBWI), Meta Materials (NASDAQ:MMAT) and Rigel Pharmaceuticals (NASDAQ:RIGL) stock moving today. You can catch up on that below!
More Friday Stock Market News
- BBWI Stock Climbs as Bath & Body Works Candle Day Sale Kicks Off
- Dear MMAT Stock Fans, Mark Your Calendars for Dec. 12
- Rigel Pharmaceuticals (RIGL) Stock Soars on FDA Approval News
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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