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Chinese stocks in U.S. market surge on reports of nearing audit deal

Delisting concerns have plagued Chinese companies on American exchanges

Chinese stocks listed on Wall Street had a big day, including Pinduoduo whose shares rose 12.4%.   © Reuters

NEW YORK -- Shares in U.S.-listed Chinese stocks and indexes surged on Thursday following news that American and Chinese officials are nearing a deal to end a long-standing dispute over auditing foreign companies listed on American stock exchanges.

Nasdaq Golden Dragon China Index, which tracks American depositary receipts (ADRs) from Chinese enterprises, closed the day up 6.3%. Among the biggest Chinese companies listed in the U.S., Alibaba shares closed up 8%, shares increased 9.2%, and Pinduoduo shares rose 12.4%.

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