Alibaba and Other China Stocks Jump as President Xi Reassures on Tech

Shares in U.S.-listed Chinese companies were moving higher Monday as investors smiled on comments from a high-profile speech by President Xi Jinping that was supportive of the country’s technology sector.

Alibaba


(ticker: BABA) stock climbed 2% in U.S. premarket trading on Monday, with shares in


JD.com


(JD) rising 3.5% and


Nio


(NIO) up 3%, exemplifying gains seen across the U.S.-listed Chinese tech sector. In Asian trading, the


Shanghai Composite


ended 0.4% higher, outperforming indexes in Tokyo and Singapore.