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Benzinga

Business

Henry Khederian

Why Baidu, JD.com, NetEase, Li Auto And XPeng Shares Are Rising Today

Baidu Inc BIDU NetEase Inc NTES

Shares of several Chinese stocks, including Baidu Inc (NASDAQ:BIDU), JD.Com Inc (NASDAQ:JD), NetEase Inc (NASDAQ:NTES), Li Auto Inc (NASDAQ:LI) and Xpeng Inc - ADR (NYSE: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?

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