Here's Why PDD Holdings Shares Are Rising
Portfolio Pulse from Henry Khederian
PDD Holdings Inc's shares are trading higher by 7.01% to $69.90 during Thursday's session, following a private survey showing growth in China's factory activity in May. The Caixin manufacturing PMI climbed to 50.9 from 49.5 in April, indicating expansion.
June 01, 2023 | 4:10 pm
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PDD Holdings shares are up 7.01% due to a private survey showing growth in China's factory activity in May. The Caixin manufacturing PMI climbed to 50.9, indicating expansion.
PDD Holdings shares are rising due to the positive news of growth in China's factory activity, as reported by a private survey. The Caixin manufacturing PMI, which focuses on smaller and export-oriented enterprises, climbed to 50.9 from 49.5 in April, indicating expansion. This news is directly related to PDD Holdings and is likely to have a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100