Chinese ADRs and casino operators rally on signs of easing COVID restrictions


Shares of top Chinese ADRs as well as U.S. casino companies with operations in Macau climbed on Monday on signs of easing COVID restrictions. Alibaba BABA, +4.79% and JD, +5.00% shares jumped 5% in premarket trade, while Wynn Resorts WYNN, +1.32% gained 4%. Earlier, the Hang Seng closed 4.5% higher. Commuters in at least 17 cities were allowed to board buses and subways without a virus test, and industrial centers have lifted most curbs on movement, according to the Associated Press.

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