Alibaba, JD, Tencent And Nio Rivals Xpeng, Li Auto Clock Gains In Hong Kong As Market Turns Optimistic Amid Chinese Vice Premier’s Reassurance

Shares of Alibaba Group Holding Limited (NYSE: BABA), Baidu Inc. (NASDAQ: BIDU), JD.com Inc. (NASDAQ: JD), Tencent Holdings Limited (OTC: TCEHY), Xpeng Inc. (NYSE: XPEV) and Li Auto Inc. (NASDAQ: LI) are all rising in Hong Kong on Tuesday.

What’s Moving: Chinese e-commerce giant Alibaba’s shares traded 1.2% higher at HKD 170.00 ($21.86) in Hong Kong.

Technology company Baidu’s shares are rising almost 3.5% to HKD 167.30 ($21.51), while technology conglomerate Tencent’s shares are up 2.1% to HKD 515.50 ($66.29) and e-commerce company JD.com’s shares are trading almost 0.9% higher at HKD 319.20 ($41.05).

Electric vehicle maker Xpeng’s shares are rising almost 0.6% to HKD 155.20 ($19.96) and peer Li Auto’s shares traded about 1.2% higher at HKD 119.70 ($15.39).

See Also: How To Buy Nio (NIO) Stock

Hong Kong’s benchmark Hang Seng Index is extending gains on Tuesday from the previous session and is up almost 0.7% at the time of writing.

Why Is It Moving? The Hang Seng Index is advancing after China’s Vice Premier Liu Hu reassured investors on Monday that the government will continue to support the private sector in China despite the ongoing regulatory crackdowns. Investors also looked ahead to the release of China’s trade data for August due later today.

Shares of Chinese companies closed mixed in U.S. trading on Friday as the three major U.S. indexes closed on opposite sides of the unchanged line after the Labor Department’s data showed weaker than expected job growth in the month of August. Markets in the U.S. were closed on Monday for a holiday.

Alibaba’s shares closed almost 1% lower, while electric vehicle maker Nio Inc.’s (NYSE: NIO) 0.07% shares closed less than 0.1% higher.

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