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Why Chinese Tech Stocks Kingsoft Cloud, Hello Group, and Vipshop Stocks Were Climbing Today

Why Chinese Tech Stocks Kingsoft Cloud, Hello Group, and Vipshop Stocks Were Climbing Today

Chinese stocks were rallying for the third day in a row as investors continue to see signs, including anti-lockdown protests, that strict zero-COVID policies could come to an end. There was no single news item driving the sector's gains, but a continuation of themes that have sent Chinese stocks soaring all month. Chinese authorities are also considering authorizing a fourth COVID-19 shot, which investors see as an alternative to strict lockdown restrictions, and health regulators said it would ramp up vaccinations for the elderly.