What's Going On With Chinese Tech Stocks Like Alibaba, PDD On Thursday? [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
Last alibaba group holding limited american depositary shares each representing eight ordinary share earnings: 2/13 06:45 am
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Source: Yahoo! Finance
The U.S. Fed slashed the lending rate by 50 bps, lowering the central bank's benchmark rate to between 4.75% and 5% Alibaba's domestic peers PDD Holdings Inc (NASDAQ: PDD JD.com, Inc (NASDAQ: JD ), and Baidu, Inc (NASDAQ: BIDU ) stocks are also up. Analysts expect the interest rate cut to drive growth in discretionary spending from U.S. companies. It could also boost Chinese companies that are invested in integrating capital-intensive artificial intelligence technology into their different businesses, including e-commerce, logistics, cloud, and more, to drive growth despite the U.S. sanctions on advanced technology. Beaten-down Chinese electric vehicle stocks, including NIO Inc (NYSE: NIO XPeng Inc (NYSE: XPEV Li Auto Inc (NASDAQ: LI ), and ZEEKR Intelligent Technology Holding (NYSE: ZK ), are also up Thursday. AI technology is also an indispensable part of their progress. Meanwhile, China needs help finding solutions to the U.S. technology embargo through domestic chipmakers
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