Chinese ADRs Jump With iQiyi up 10%

Tiger Newspress10-22

Chinese ADRs jumped in morning trading. iQiyi rose 10%; PDD Holdings rose 7%; Li Auto rose 6%; XPeng rose 5%; Bilibili and NIO rose 4%; JD.com rose 3%.

The China National Development and Reform Commission (NDRC) stated that nearly half of the incremental policies have been introduced and implemented. Moving forward, a new batch of additional policies will continue to be rolled out and implemented.

The Chinese Academy of Social Sciences' Institute of Finance has proposed issuing RMB 2 trillion in special government bonds to establish a stock market stabilization fund. This fund would aim to promote market stability by buying blue-chip stocks and ETFs at low prices and selling them at higher prices, thereby helping to balance the market.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
2
2