Alibaba, JD.com, Baidu hang onto gains as China eases 'Zero-Covid' strategies
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Alibaba (NYSE:BABA), JD.com, (NASDAQ:JD), Baidu (NASDAQ:BIDU) and several other Chinese tech stocks eked out mild gains Monday as the Beijing took some tentative steps to move away from its "Zero-COVID" strategy.
Alibaba (BABA) and JD.com (JD) pulled back from their pre-market highs, but still managed to remain in positive territory. Meanwhile, Baidu (BIDU) climbed 5%, Pinduoduo (PDD) rose more than 2%, Kingsoft Cloud Holdings (KC) was up by almost 6%.
The KraneShares CSI China Internet ETF (KWEB) also shed most of its gains, but still remained up by 0.7%.
Over the weekend, Chinese officials said that citizens of major cities Shenzhen and Beijing would no longer require negative COVID-19 tests to take public transport.
However, citizens would need a negative test that was obtained in the past 48 hours if they want to enter venues such as shopping malls. 
On Sunday, the country announced 35,775 new cases as the Omicron variant of the virus continues to spread throughout the country.
Separately on Sunday, China announced two COVID-19 related deaths, including one person from Shandong and another from Sichuan.
Monday's move higher comes on the back of gains last week for Alibaba (BABA) and others, which jumped as Chinese officials continued to ease COVID-related restrictions amid protests in the country.