China stocks including Alibaba rise again amid latest reopening hopes

U.S.-listed shares of Chinese internet stocks were set to rally once again Monday amid new indications that China could be plans to relax COVID-19 restrictions. While a Chinese official maintained over the weekend that the country's zero-COVID strategy is correct, according to a CNN report, The Wall Street Journal said Monday that the Chinese government was considering moving toward a reopening, though officials haven't set a timetable for such a move. U.S-listed shares of Bilibili Inc. were up 4.1% in premarket trading Monday, while shares of iQiyi Inc. were ahead 3.3%. U.S.-listed shares of Baidu Inc. were up 2.6% in premarket activity, while shares of JD.com Inc. were up 2.2% and share of Alibaba Group Holding Ltd. were up 2.1%. The KraneShares CSI China Internet ETF, which gained in each of the five trading sessions last week, was ahead 2.1% as well in Monday's premarket action.

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