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Benzinga
Benzinga
Business
Anusuya Lahiri

Alibaba, Nio Lead Gains As US And China Extend Trade Truce

Li NIO BABA Alibaba China United States Beijing JD Washington D.C. BIDU
US Vs China, Trade war shutterstock_1435739585

Chinese tech and EV stocks surged Wednesday after Washington and Beijing extended their trade truce by 90 days, averting a tariff escalation and fueling hopes for improved economic ties between the world’s two largest economies.

Shares of Alibaba Group (NYSE:BABA), Baidu (NASDAQ:BIDU), JD.com (NASDAQ:JD), PDD Holdings (NASDAQ:PDD), NIO (NYSE:NIO), Li Auto (NASDAQ:LI) and XPeng (NYSE:XPEV) all moved higher in premarket trading as investors welcomed the reprieve.

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