Why GDS Holdings (GDA) Shares Are Trading Higher Today - GDS Holdings (NASDAQ:GDS)

GDS Holdings Ltd GDS is a leading developer and operator of high-performance data centers in China.
The ease in China's Covid-19 lockdown guidelines is seen as a positive for companies operating there. Investors are cheering the move.
China has slightly relaxed some Covid restrictions even as case numbers have risen to their highest in months, BBC reports.
Quarantine for close contacts will be cut from seven days in a state facility to five days and three days at home.
Officials will also stop recording secondary contacts implying many people will bypass quarantine.
Also Read: GDS Clocks 24% Revenue Growth In Q2; Cuts FY22 Outlook
The slight easing comes weeks after Xi Jinping was re-instated as party leader for a historic third term.
Xi held his first Covid meeting with his newly elected Standing Committee on Thursday.
China's zero-Covid policy dealt a punishing blow to the economy and ordinary people's lives.
Beijing, Guangzhou, and Zhengzhou currently saw record numbers.
On Thursday, China's new Covid cases peaked at 10,500, the highest daily total since April when China shut down its largest city Shanghai to combat a wave there.
Despite the minor changes, however, most restrictions remain in place.
Price Action: GDS shares traded higher by 13.1% at $12.44 on the last check Friday.

Why GDS Holdings Shares Are Shooting Higher Today