Why Chinese Stocks PDD Holdings, Baidu, and JD.com Rocketed Higher This Week [Yahoo! Finance]
JD.com, Inc. - American Depositary Shares (JD)
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Source: Yahoo! Finance
Shares of Chinese consumer stocks PDD Holdings (NASDAQ: PDD) Baidu (NASDAQ: BIDU) , and JD.com (NASDAQ: JD) rallied big this week, up 29.5%, 18.9%, and 33.1%, respectively, through Thursday trading, according to data from S&P Global Market Intelligence Chinese stocks have been trading very cheaply as of late, as the country suffered from a barrage of headwinds, including a government clampdown on tech companies, a property bubble bursting, and weak consumer sentiment after the country's long "zero-COVID" lockdowns. But this week, the Chinese central bank unveiled a slew of new stimulus measures, while the Politburo also made forceful statements pointing toward continued stimulus of the Chinese economy. This week's big announcements On Tuesday, China's central bank announced several stimulative measures, including lowering several different interest rates, while lowering bank reserve requirements and the amount of money consumers have to put down on housing. In response, Chi
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JD
Earnings
- 8/15/24 - Beat
JD
Sec Filings
- 8/27/24 - Form 6-K
- 8/21/24 - Form 6-K
- 8/20/24 - Form SC
- JD's page on the SEC website