Shares of Chinese stocks are trading higher after Premier Li Qiang said China would make sure it fulfills its economic targets for the year.
Portfolio Pulse from Benzinga Newsdesk
Chinese stocks are trading higher following Premier Li Qiang's assurance that China will fulfill its economic targets for the year. This has positively impacted the shares of several Chinese companies listed in the US.
August 17, 2023 | 3:53 pm
News sentiment analysis
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POSITIVE IMPACT
Alibaba's shares are likely to increase in the short term due to positive economic outlook in China.
As one of the largest Chinese companies listed in the US, Alibaba is likely to see a positive impact on its share price due to the positive economic outlook in China.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
NIO's shares are expected to rise in the short term due to positive economic outlook in China.
As a Chinese electric vehicle manufacturer listed in the US, NIO is likely to see a positive impact on its share price due to the positive economic outlook in China.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Pinduoduo's shares are likely to increase in the short term due to positive economic outlook in China.
As a Chinese e-commerce platform listed in the US, Pinduoduo is likely to see a positive impact on its share price due to the positive economic outlook in China.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tencent Music's shares are expected to rise in the short term due to positive economic outlook in China.
As a Chinese music streaming company listed in the US, Tencent Music is likely to see a positive impact on its share price due to the positive economic outlook in China.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
XPeng's shares are likely to increase in the short term due to positive economic outlook in China.
As a Chinese electric vehicle manufacturer listed in the US, XPeng is likely to see a positive impact on its share price due to the positive economic outlook in China.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80