Why Baidu Shares Are Rising
Portfolio Pulse from Henry Khederian
Shares of Baidu Inc (NASDAQ:BIDU) are trading higher by 3.27% after Chinese Premier Li Qiang announced plans to stimulate markets and open select sectors of the economy to international participation. The Premier also assured the government's continued support for the presence of foreign companies and addressed concerns regarding new data management regulations.
June 27, 2023 | 5:48 pm
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Baidu's stock price increased following the Chinese Premier's announcement, indicating positive investor sentiment towards the company's prospects in China.
The Chinese Premier's announcement to stimulate markets and open sectors to international participation is likely to benefit foreign companies operating in China, including Baidu. This has led to increased investor confidence in Baidu, resulting in a rise in its stock price.
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