Why PDD Holdings Shares Are Rising
Portfolio Pulse from Henry Khederian
PDD Holdings Inc's shares are trading higher by 2.95% after China's central bank cut the borrowing cost of its medium-term policy loans. This move is part of Beijing's efforts to stabilize the uncertain economic recovery.
June 15, 2023 | 3:04 pm
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PDD Holdings shares are up 2.95% after China's central bank cut borrowing costs for medium-term policy loans, aiming to stabilize the economy.
PDD Holdings is directly impacted by the news as it is a Chinese company and its shares are trading higher due to the central bank's decision to cut borrowing costs. This move is expected to help stabilize the uncertain economic recovery, which could benefit PDD and other Chinese companies in the short term.
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