Why Trip.com Group (TCOM) Shares Are Trading Higher

Trip.com Group Ltd TCOM shares are trading higher by 4.42% to $35.80 Thursday afternoon. The stock is higher after the company reported better-than-expected first-quarter results.

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The stock is also trading higher, reversing following Wednesday weakness, when multiple Chinese stocks fell after lackluster export data from China.

TCOM is also trading higher Thursday after China's central bank this week reportedly told major state-owned banks to decrease dollar deposit interest rates in an attempt to support the yuan.

What Happened With Export Data?

Per Reuters, China's Customs Bureau data revealed a significant 7.5% year-on-year decline in May exports, surpassing the projected 0.4% decrease and marking the largest drop since January.

Imports, on the other hand, contracted by 4.5%, indicating a slower decline than the anticipated 8.0% and April's 7.9% fall.

According to data from Benzinga Pro, TCOM has a 52-week high of $40.17 and a 52-week low of $19.25.

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