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Li Auto Inc LI, Nio Inc – ADR NIO and XPeng Inc – ADR XPEV shares are all trading higher Tuesday afternoon. Shares of Chinese stocks are trading higher in possible reaction to the easing of some U.S. banking concerns.
Strength may also be in sympathy with Alibaba Group Holding Ltd – ADR BABA, which announced a plan to split into six companies.
So What Happened With Alibaba?
Since its establishment over two decades ago, Alibaba has proposed revamping its operations in its most significant corporate restructuring.
Alibaba will reorganize its businesses into six independently run entities: Cloud Intelligence Group, e-commerce under Taobao-Tmall, Cainiao’s smart logistics operations, Local Services group, Global Digital Business Group, and the Digital Media and Entertainment Group, SCMP reports…Read More
According to data from Benzinga Pro:
- Li Auto is trading higher by 7.13% to $24.87
- Nio is trading higher by 2.86% to $9.19
- XPeng is trading higher by 5.10% to $10.21
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Image and article originally from www.benzinga.com. Read the original article here.