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0 -0.000679638532987477 -0.00393716527061885 -0.00156805491597789 -0.00260454069613344 -0.00275261009329837 0.000208777850002726 0.00405858217629445
Stock impact report

Why Shares of Tencent, PDD, and Futu Are Rising Today [Yahoo! Finance]

Futu Holdings Limited - American Depositary Shares (FUTU) 
NASDAQ:AMEX Investor Relations: futurehealthcareofamerica.com/investors
Company Research Source: Yahoo! Finance
Chinese stocks moved higher today after the Federal Reserve's jumbo 50-basis-point interest rate cut prompted investors to bet that China's central bank may follow suit. Shares of the Chinese tech conglomerate Tencent Holdings (OTC: TCEHY) traded roughly 3.3% higher, as of nearly 1 p.m. ET, while shares of the Chinese online retailer PDD Holdings (NASDAQ: PDD) traded nearly 2% higher. Meanwhile, shares of the Chinese brokerage and wealth manager Futu Holdings (NASDAQ: FUTU) had jumped nearly 15%. The need for government and monetary stimulus Chinese stocks have been on a very different path than U.S. stocks this year, with the Shanghai Composite Index down close to 8% year to date. China's economy has really struggled this year, a trend that continued in August with retail sales, industrial production, and urban investment growing at a slower pace than expected in August. China has been dealing with high unemployment and a significant housing downturn. China's central bank cu Show less Read more
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