Shares of several Chinese stocks, including Baidu Inc BIDU, JD.Com Inc JD, NetEase Inc NTES, Li Auto Inc LI and Xpeng Inc - ADR XPEV, are all trading higher after the People's Bank of China cut key lending rates.
Per a Wednesday night report from CNBC, China on Thursday cut its one-year loan prime rate by 10 basis points. The home mortgage rate was also cut by 5 basis points. Following the lending rate cuts, shares of U.S.-listed Chinese tech companies traded mostly higher in Hong Kong on Thursday, lifting the benchmark Hang Seng Index to its highest level in almost two months... Read More
See Also: What's Next For Microsoft Stock As It Holds Above Key Level?
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
