Alibaba, JD.com, others move higher as China may cut quarantine for overseas travelers
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Alibaba (NYSE:BABA), JD.com (NASDAQ:JD), Baidu (NASDAQ:BIDU) and several other Chinese tech stocks were moving higher in premarket trading on Thursday as the world's most populous country may cut its quarantine requirements for overseas travelers.
The new requirements would require travelers to be subjected to three days worth of monitoring and the removal of hotel quarantine, Bloomberg reported, citing people familiar with the matter. 
Currently, travelers from different countries are required to isolate for as long as eight days upon entry into China.
Details of the final plan are still being finalized, including if it will start in January, the news outlet added.
In recent days, China has scrapped much of its zero-COVID policy that resulted in rolling lockdowns across the country and severely disrupted the country and global economy.
Alibaba (BABA) gained more than 2% to $89.75, while JD.com (JD) gained 2.4% and Baidu (BIDU) tacked on 1.5%. Also seeing gains were Kingsoft Cloud Holdings (KC), NetEase (NTES), Bilibili (BILI) and several others.
The KraneShares CSI China Internet ETF (KWEB) was also higher in premarket trading, gaining more than 2%. 
Alibaba (BABA) executives were reportedly at a meeting with the Communist Party head of Zhejiang province in eastern China as the government official wanted the tech behemoth to promote development and global competition.