What's Going On With PDD Holdings Shares
Portfolio Pulse from Henry Khederian
PDD Holdings Inc's shares are trading higher by 4.70% to $75.91, reversing Wednesday's weakness. The stock is benefiting from China's central bank reportedly telling major state-owned banks to decrease dollar deposit interest rates to support the yuan, following lackluster export data from China.
June 08, 2023 | 3:28 pm
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PDD Holdings shares are trading higher by 4.70% to $75.91, benefiting from China's central bank's move to decrease dollar deposit interest rates to support the yuan.
PDD Holdings shares are trading higher due to China's central bank's move to decrease dollar deposit interest rates in an attempt to support the yuan. This action is expected to have a positive impact on Chinese stocks, including PDD Holdings, as it indicates the central bank's support for the economy and currency. The 4.70% increase in PDD's share price reflects this positive sentiment.
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