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home / news releases / DDL - Alibaba JD.com Baidu jump as Chinese Vice Premier calms tech fears: report

DDL - Alibaba JD.com Baidu jump as Chinese Vice Premier calms tech fears: report

Dingdong (Cayman) Limited American Depositary Shares (each two representing three)
Alibaba (NYSE:BABA), JD.com (NASDAQ:JD) and Baidu (NASDAQ:BIDU) jumped on Tuesday as Chinese Vice-Premier Liu He told executives at top tier tech firms the relationship between the government and the firms would be "properly managed," according to Reuters. The news outlet, citing comments made on Chinese state media company CCTV, added that Liu said China would continue to fight "the battle for key core technologies," another sign that China is easing regulatory pressures on its tech companies. The comments were made at the Chinese People's Political Consultative Conference meeting. Alibaba (BABA) shares rose more than 7% to $92.84 in premarket trading on Thursday, while JD.com (JD) and Baidu (BIDU) gained nearly 9% and 4%, respectively. Other Chinese tech stocks also jumped on back of the comments, including Tencent (OTCPK:TCEHY), PinDuoDuo (PDD), NetEase (NTES), iQiyi (IQ), Dada Nexus (DADA) and Dingdong (DDL), which all saw gains of at least 5%. Separately on Tuesday, JD.com (JD) reported first-quarter results that

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Alibaba, JD.com, Baidu jump as Chinese Vice Premier calms tech fears: report
Stock Information
Company Name: Dingdong (Cayman) Limited American Depositary Shares (each two representing three)
Stock Symbol: DDL
Market: NYSE
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