Alibaba, JD And Nio Rival Xpeng Strike Gains In Hong Kong As US-China Tensions Ease

$Alibaba (BABA.US)$ , $Baidu (BIDU.US)$ $JD.com (JD.US)$ $Tencent (TCEHY.US)$ and $XPeng (XPEV.US)$ rose in Hong Kong on Tuesday, while $Li Auto (LI.US)$ traded lower.

The Hang Seng Index is rising after five days of losses — tracking the record closing highs overnight on Wall Street — on optimism about easing U.S.-China trade tensions.

U.S. Treasury Secretary Janet Yellen said that while the U.S. expects China to meet its commitments under the Phase 1 trade deal, it could also look at eventually lowering some tariffs in a reciprocal way, Reuters reported.

Shares of Chinese companies closed notably higher in U.S. trading on Monday after the major averages in the U.S. closed at record highs.

Alibaba’s shares closed almost 3.2% higher and Nio’s shares ended higher by 3.6%.