Why Chinese Stocks Are Jumping on Tuesday
LI AUTO(LI) The Motley Fool·2024-09-24 22:53
China will pour money into its economy to try to boost growth.Chinese stocks leapt out of the gate Tuesday morning, with shares of Pizza Hut and KFC operator Yum China Holdings (YUMC 6.42%) rising 6.1% through 10 a.m. ET. Electric car manufacturer Li Auto (LI 6.89%) had gained 7.3% and casino powerhouse Melco Resorts & Entertainment (MLCO 5.75%) had gained 7.2%.What's the common thread behind all of these moves? As Reuters reports today, China's central bank has just unveiled its "biggest stimulus since the ...