Why These 3 Chinese Internet Stocks Are Soaring Today

Chinese tech stocks took off like a rocket Wednesday, and as of 3 p.m. EDT today, shares of new IPO Dada Nexus (NASDAQ: DADA), e-commerce facilitator Baozun (NASDAQ: BZUN), and social media company JOYY (NASDAQ: YY) were up 12.5%, 10.5%, and 14.5%, respectively.

The past few days have not brought good news for China's economy, as COVID-19 appears to be making a resurgence in one of the most tightly regulated (and, one might think, safest) corners of the country: Beijing.

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