China tech shares rally on hopes crackdown may be over

Hong Kong CNN Business  — 

Shares in Chinese tech companies have surged this week on hopes that Beijing is close to ending a yearlong regulatory crackdown on the industry.

Alibaba (BABA) was up 1.9% on Tuesday, following a 5% gain on Monday. JD.com (JD) climbed 3%, after rising 4.7% the previous day.

Other tech shares have also gained sharply since Monday. TikTok’s rival Kuaishou advanced 1.2% on Tuesday, adding to a 5.1% increase in the prior session. Food delivery service Meituan increased 0.5% on Tuesday and is up 10% so far this week.

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