Why Shares of Tencent, PDD, and Futu Are Rising Today
TCEHYTENCENT(TCEHY) The Motley Fool·2024-09-20 01:46

A rate cut by the Federal Reserve has made investors think that China's central bank will soon follow suit.Chinese stocks moved higher today after the Federal Reserve's jumbo 50-basis-point interest rate cut prompted investors to bet that China's central bank may follow suit.Shares of the Chinese tech conglomerate Tencent Holdings (TCEHY 3.62%) traded roughly 3.3% higher, as of nearly 1 p.m. ET, while shares of the Chinese online retailer PDD Holdings (PDD 2.66%) traded nearly 2% higher. Meanwhile, shares o ...