(Reuters) – Shares of U.S.-listed Chinese stocks rose on Monday, reversing from a sharp fall in the previous session that was sparked by reports that the Trump administration was considering delisting Chinese firms from U.S. stock exchanges.
Alibaba Group Holding Ltd (N:) and JD.Com Inc (O:) shares rose 2% each in early trading. They had tumbled more than 5% after the reports said the potential moves aimed at limiting the flow of U.S. capital to Chinese companies due to growing security concerns about their activities.
Helping sentiment was White House trade adviser Peter Navarro dismissing the reports as “fake news.”
“Over half of it was highly inaccurate or flat out false,” Navarro told CNBC, when asked in particular about a Bloomberg report on the matter.
Shares of small-cap Chinese firms such as China Automotive (O:) and JMU Ltd (O:) were among the biggest gainers among Chinese stocks listed in the United States.
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