Bilibili, Baidu, KWEB, JD.com Are Flying High: What's Going On With These Chinese Stocks?
Portfolio Pulse from Erica Kollmann
Shares of Chinese companies Bilibili Inc (BILI), Baidu Inc (BIDU), JD.Com, Inc (JD) and KraneShares CSI China Internet ETF (KWEB) are trading higher after China pledged to optimize the business environment for private enterprises. The National Development and Reform Commission (NDRC) released a 17-point statement supporting private investment in various sectors. This follows recent measures to stimulate the struggling Chinese economy, including equal treatment for private and state-owned entities and changes to cross-border financing guidelines.
July 24, 2023 | 5:30 pm
News sentiment analysis
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POSITIVE IMPACT
Baidu shares are trading 5.6% higher following China's announcement to optimize the business environment for private enterprises.
The increase in Baidu's stock price is directly related to China's announcement, which is expected to have a positive impact on the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Bilibili shares are trading 13.8% higher after China's pledge to support private enterprises.
The rise in Bilibili's stock price is directly linked to China's pledge to support private enterprises, which is expected to benefit the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
JD.Com shares are trading 4.3% higher after China's pledge to support private enterprises.
The rise in JD.Com's stock price is directly linked to China's pledge, which is expected to benefit the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
KraneShares CSI China Internet ETF is trading 5.23% higher following China's announcement to optimize the business environment for private enterprises.
The increase in KWEB's price is directly related to China's announcement, which is expected to have a positive impact on the ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100