Li Auto Inc LI shares are trading higher by 7.9% to $42.97 Tuesday morning. Shares of Chinese stocks are trading higher following strong earnings from PDD Holdings.
Chinese authorities also recently took measures to boost investor confidence including a cut to taxes on stock trading, which has lifted Chinese stocks.
What Happened?
PDD Holdings reported second-quarter FY23 revenue growth of 66% year-on-year to $7.21 billion, beating the consensus of $6.07 billion.
Non-GAAP earnings per ADS of $1.44 beat the consensus of $1.01. Revenues from online marketing services and others rose 50% Y/Y to $5.23 billion. Revenues from transaction services jumped 131% Y/Y to $1.98 billion...Read More
See Also: China Takes Drastic Measures To Shield Economy From Real Estate Storm
According to data from Benzinga Pro, Li Auto has a 52-week high of $47.33 and a 52-week low of $12.52.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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