Why Chinese Stocks PDD Holdings, Baidu, and JD.com Rocketed Higher This Week
PDDPDD(PDD) The Motley Fool·2024-09-27 22:05

China's government promised a big stimulus, and these cheap beaten-down consumer stocks rallied hard.Shares of Chinese consumer stocks PDD Holdings (PDD 5.59%), Baidu (BIDU 4.04%), and JD.com (JD 3.76%) rallied big this week, up 29.5%, 18.9%, and 33.1%, respectively, through Thursday trading, according to data from S&P Global Market Intelligence.Chinese stocks have been trading very cheaply as of late, as the country suffered from a barrage of headwinds, including a government clampdown on tech companies, a ...