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ADRs of Alibaba Group/ GDS Holdings Rally 8%; Kingsoft Cloud's ADR Soars 19%
US-listed China concept stocks inclined, with the Nasdaq Golden Dragon China Index climbing 2.8% overnight (15th). Of which, Alibaba Group (BABA.US)'s ADR rallied 8.1% to US$11...
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ADRs of Alibaba Group/ GDS Holdings Rally 8%; Kingsoft Cloud's ADR Soars 19%
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US-listed China concept stocks inclined, with the Nasdaq Golden Dragon China Index climbing 2.8% overnight (15th). Of which, Alibaba Group (BABA.US)      's ADR rallied 8.1% to US$116.97, while the ADRs of GDS Holdings (GDS.US)      and Kingsoft Cloud (KC.US)      soared 7.8% and 18.7% respectively.

The US government eased restrictions on the export of AI chips to China by Nvidia (NVDA.US)      and Advanced Micro Devices (AMD.US)      .

Related NewsRetail Sales YoY for June in China is 4.8%, lower than the previous value of 6.4%. The forecast was 5.6%.
Moreover, Moonshot, an AI startup invested by Alibaba, released its open-source large language model Kimi K2 last week, challenging products from OpenAI and Anthropic with its open-source and low-cost approach. Kingsoft Cloud recently announced its connection with the Kimi K2 model.
(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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