Chinese Stocks Dominate - JD.com And Temu Parent PDD Are Among Top 10 Large Cap Gainers Last Week (Sept 23-Sept 27): Are The Others In Your Portfolio?

Lekha Gupta

September 29, 2024

Last week, China's central bank shared plans to cut banks' reserve requirement ratio (RRR) by 50 basis points or half a percentage point, boosting US-listed Chinese companies' stocks across sectors.

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?

JD.com, Inc. (NASDAQ:JD) shares rocketed 39.75% after the People's Bank of China announced a reduction in the amount of cash banks need to hold and outlined plans to support the struggling property market.
KE Holdings Inc (NYSE:BEKE) stock jumped 39.18% following a report suggesting China will issue up to $284 billion of sovereign debt as part of a stimulus.
PDD Holdings Inc. (NASDAQ:PDD) shares upped 35.52%, probably following a report suggesting that China will issue up to $284 billion in sovereign debt as part of a stimulus.
Liberty Broadband Corporation's (NASDAQ:LBRDA) stock increased 31.74% after the company announced it had communicated a counterproposal to the special committee of the board of directors of Charter Communications, Inc. (NASDAQ:CHTR).
Yum China Holdings, Inc. (NYSE:YUMC) stock upped 27.64% on China's stimulus.
H World Group Limited (NASDAQ:HTHT) stock upped 26.43% on pin action in Chinese stocks.
Trip.com Group Ltd (NASDAQ:TCOM) stock gained 26.02% in the last week on pin action in Chinese stocks.
Nio Inc (NYSE:NIO) gained 23.48% last week, joining the rally in Chinese stocks, which was boosted by the government stimulus plans.
Wynn Resorts, Limited (NASDAQ:WYNN) stock upped 22.47% following Morgan Stanley's upgrade from Equal-Weight to Overweight and raising the price target from $97 to $104.
Baidu Inc (NASDAQ:BIDU) gained 21.95% by joining the rally in Chinese stocks, which got a boost from the government stimulus plans.

Alibaba Group Holding Ltd (NYSE:BABA) and Li Auto Inc (NASDAQ:LI) also joined the Chinese stock rally last week, each gaining over 20%.

Also Read:

Regeneron Pharma, Super Micro Computer And Global Payments Are Among Top 10 Large Cap Losers Last Week (Sept 23-Sept 27): Are The Others In Your Portfolio?

Photo by Eric Prouzet on Unsplash

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