Shares of U.S.-listed Chinese tech firms JD.Com Inc. JD, Tencent Holdings TCEHY, and Baidu Inc. BIDU rose in Hong Kong on Thursday, while e-commerce giant Alibaba Group Holdings Ltd. BABA was trading in the red.
| Stocks | Movement (+/-) |
|---|---|
| Alibaba | -2.59% |
| JD.Com | 0.53% |
| Tencent | 0.54% |
| Baidu | 2.09% |
What Happened: The Hang Seng Index was firmer at press time on Thursday, following positive cues in global markets.
According to an SCMP report, Hong Kong will start easing social-distancing rules that have been in place for months from April 21, including an extension of dine-in hours for restaurants. It added that people would be permitted to take off their masks when visiting parks and exercising outdoors.
Company In News: Alibaba Cloud, the cloud computing unit of the e-commerce firm, is undergoing an aggressive reshuffle among senior executives.
Its China President Ren Geng on Wednesday resigned for undisclosed reasons, with Vice President Huang Haiqing succeeding him. Geng looked to leave as early as 2021 but had stayed back.
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