Why the Chinese Stock Rally Stalled Today
LI AUTO(LI) The Motley Fool·2024-10-09 00:45
A press release by a key Chinese economic committee did little to excite investors and sent Chinese stocks tumbling. The explosive Chinese stock rally over the last month finally lost steam today after a press conference by Chinese officials failed to sustain investor exuberance over previously announced stimulus measures. Shares of the electric carmaker Li Auto (LI -7.42%) traded nearly 7.5% lower as of midday, while shares of the search giant and artificial intelligence company Baidu (BIDU -7.01%) fell 6. ...