Shares of Chinese companies, including Nio Inc – ADR (NYSE:NIO) are trading higher as global markets rebound amid easing omicron fears.
The People’s Bank of China on Monday also announced it will reduce reserve requirements for some banks.
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Nio operates in China’s premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.
Nio has a 52-week high of $66.99 and a 52-week low of $29.66.
