Here's Why JD.Com Shares Are Moving
Portfolio Pulse from Henry Khederian
JD.Com shares are trading higher by 3.57% after China's central bank cut its seven-day reverse repurchase rate. The People's Bank of China reduced a key short-term lending rate for the first time in 10 months to bolster market confidence and support the post-pandemic economic rebound.
June 13, 2023 | 2:17 pm
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JD.Com shares rose 3.57% after China's central bank cut its seven-day reverse repurchase rate, aiming to boost market confidence and support economic recovery.
The People's Bank of China cut its key short-term lending rate for the first time in 10 months, aiming to boost market confidence and support the post-pandemic economic rebound. This move directly impacts JD.Com, a Chinese company, as it signals a potential relaxation of longer-term rates and improved investor sentiment, leading to a rise in its share price.
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