Why China Stocks Alibaba, JD.com, and PDD Holdings Were Climbing Today
Shares of Chinese stocks were rallying today after an annual parliamentary meeting came to a close and China posted some promising economic data. Beijing also announced another round of support for the economy, which investors hope will revive struggling Chinese stocks.
Investors seemed encouraged by an improvement in the consumer price index, which was up 0.7% in February, showing increased demand during the key Lunar New Year holiday season. The producer price index, however, continued to fall. Investors have been concerned about deflation as consumer spending has been weak in the world's #2 economy, so rising consumer prices is a good sign.
Investors also seemed to like Beijing's plans to support the economic recovery and its target of 5% economic growth for the year.
Source Fool.com
