MOMO - Why Shares of Baozun Hello Group and HUYA Are Rising Today
Shares of several Chinese stocks were moving higher Wednesday morning thanks to some positive news on the regulatory front and continued bullishness around the broader sector.
As of 11:09 a.m. ET, shares of e-commerce company Baozun (NASDAQ: BZUN) traded more than 7% higher, shares of social media company Hello Group (NASDAQ: MOMO) traded nearly 8% higher, and shares of streaming company HUYA (NYSE: HUYA) were up by more than 8.5%.
Chinese stocks rallied in January; Hong Kong's benchmark Hang Seng Index is up close to 10% so far this year. Those stocks have been buoyed by supportive economic measures from the Chinese government and the wider reopening of that nation's economy following the relaxation of its restrictive "zero COVID" policies.
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Why Shares of Baozun, Hello Group, and HUYA Are Rising Today