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ZH - Why Shares of Nio and Other Chinese Stocks Are Rising Today
Zhihu Inc. American Depositary Shares (every two of each representing one Class A)
Several Chinese stocks moved higher today as COVID-19 restrictions continued to ease in China and Hong Kong.
Shares of the Chinese electric car maker Nio (NYSE: NIO) traded close to 6% higher as of 10:54 a.m. ET today. Meanwhile, shares of the online content company Zhihu (NYSE: ZH) surged nearly 17%, and shares of the fintech Lufax Holding (NYSE: LU) were up nearly 12%.
All year, China's restrictive "zero-COVID" policies implemented by the Chinese government have really hurt China and Hong Kong's economies, as people have been locked down for long periods of time in order to prevent the spread of the virus.