News Snapshot:
U.S-listed shares of Alibaba Group Holding Ltd. and Nio Inc. were among Chinese names trading higher in morning action Friday after the Securities and Exchange Commission announced that it has struck an agreement with Chinese securities regulators and the country’s ministry of finance regarding the inspection of auditors based in China and Hong Kong. The U.S. had been threatening to eventually delist foreign companies whose audit paperwork couldn’t be inspected by the Public Company Accounting Oversight Board, but SEC Chair Gary Gensler said in a Friday statement that the agreement “marks the first time we have received such detailed and...
