Real-time Estimate Cboe BZX - 01:16 2022-12-05 pm EST
19.83 USD -0.05%

Chinese Stocks Rise as Beijing, Washington Reportedly Near Deal for Audit Inspections of NY-Listed Companies

08/25/2022 | 01:49pm
(MT Newswires) -- Chinese companies' shares were up in recent trading as the US and China appear close to reaching an agreement that will allow American regulators to inspect the audit reports of Chinese companies listed in New York, The Wall Street Journal reported Thursday, citing people familiar with the matter.

Beijing and Washington are in discussions to resolve the audit inspection dispute which could result in Chinese companies being delisted in the US if China does not comply.

Bilibili (BILI) shares surged 11% in Thursday afternoon trading while (JD) and Hello Group (MOMO) were up 9.4% and 9.2%, respectively.

Baidu (BIDU), Alibaba Group Holding Limited (BABA), Weibo Corporation (WB) and Vipshop Holdings Limited (VIPS) were also up 8.5%, 8%, 6.2% and 5.9%, respectively in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 27.08, Change: +2.67, Percent Change: +10.94

MT Newswires 2022
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