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April 1, 2022, 6:31 a.m. EDT

Chinese ADRs surge after report of China authorities' plans to give access to audits

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By Tomi Kilgore

The U.S.-listed shares of China-based companies surged in premarket trading Friday, after Bloomberg reported that Chinese authorities are in the process of giving U.S. regulators full access to auditing reports. That would allow China-based companies to remain listed on U.S. exchanges, removing an overhang that has weighed on the American depositary receipts (ADRs) of China-based companies. The iShares MSCI China ETF /zigman2/quotes/206267952/composite MCHI +0.16% jumped 4.0% ahead of the open, after having dropped 15.7% over the past three months through Thursday while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.30% slipped 5.0%. Among the more active Chinese ADRs, shares of DiDi Group Holding Ltd. shot up 17.6%, Alibaba Group Holding Ltd. /zigman2/quotes/201948298/composite BABA +0.86% rallied 7.0%, iQIYI Inc. /zigman2/quotes/203657421/composite IQ -2.01% climbed 10.1%, NIO Inc. /zigman2/quotes/204905836/composite NIO -3.99% rose 5.9%, Pinduoduo Inc. /zigman2/quotes/208876581/composite PDD -1.94% hiked up 12.5% and Bilibili Inc. /zigman2/quotes/207131615/composite BILI +1.15% ran up 12.0%.

/zigman2/quotes/206267952/composite
US : U.S.: Nasdaq
$ 55.90
+0.09 +0.16%
Volume: 2.45M
June 27, 2022 1:42p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,900.16
-11.58 -0.30%
Volume: 1.12B
June 27, 2022 1:42p
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/zigman2/quotes/201948298/composite
US : U.S.: NYSE
$ 118.64
+1.02 +0.86%
Volume: 16.32M
June 27, 2022 1:42p
P/E Ratio
38.67
Dividend Yield
N/A
Market Cap
$309.28 billion
Rev. per Employee
$528,633
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/zigman2/quotes/203657421/composite
US : U.S.: Nasdaq
$ 4.64
-0.10 -2.01%
Volume: 5.40M
June 27, 2022 1:41p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.78 billion
Rev. per Employee
$809,013
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/zigman2/quotes/204905836/composite
US : U.S.: NYSE
$ 23.12
-0.96 -3.99%
Volume: 45.24M
June 27, 2022 1:42p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$40.20 billion
Rev. per Employee
N/A
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/zigman2/quotes/208876581/composite
US : U.S.: Nasdaq
$ 64.68
-1.28 -1.94%
Volume: 8.79M
June 27, 2022 1:42p
P/E Ratio
44.34
Dividend Yield
N/A
Market Cap
$82.67 billion
Rev. per Employee
$1.53M
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/zigman2/quotes/207131615/composite
US : U.S.: Nasdaq
$ 28.13
+0.32 +1.15%
Volume: 5.17M
June 27, 2022 1:42p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$10.88 billion
Rev. per Employee
$260,668
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