Why Baozun Stock Was Climbing Today
Shares of Baozun (NASDAQ: BZUN), the Chinese provider of e-commerce services for multinational companies, was moving higher today, even though there was no apparent news about the company. The gains came as a number of smaller Chinese stocks rose by double digits, including Bilibili and Huya, indicating that investors may be rotating into the sector.
As of 3:08 p.m. EST, Baozun was up 9.8%, while the MSCI China ETF had gained 1.1%, even as the S&P 500 was nearly flat. That may offer further evidence of a rotation into Chinese stocks, although there was no specific market-moving news out of China.
Image source: Baozun.
Source Fool.com
