Reported 11 days ago
In a notable turn of events, Alibaba, JD.com, and Meituan saw their stock prices soar following China's announcement of new economic stimulus measures aimed at supporting struggling sectors. Both JD.com and Meituan recorded over 20% gains in trading, marking their best performance since 2022, while Alibaba gained 15%. The government's comprehensive measures included support for the property market and financial aid for distressed residents, instilling renewed investor confidence in tech companies.
Source: YAHOO