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Why the Chinese Stock Rally Stalled Today

TheMotleyFool 
0 0 08.10.24
Why the Chinese Stock Rally Stalled TodayPhoto, wide shot, wide-angle lens, soft focus, Movie theater, sunset photo at golden hour, photo by Marc Adamus: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-gXhfb5xMEy8zG0qLmxYAOaHt.png?st=2023-05-14T13%3A29%3A06Z&se=2023-05-14T15%3A29%3A06Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-14T01%3A25%3A03Z&ske=2023-05-15T01%3A25%3A03Z&sks=b&skv=2021-08-06&sig=cyWAC06qXhBJ4kv4K4eQVNNwtdGGK962uEjAh4%2B61ZY%3D
 

The explosive Chinese stock rally over the last month finally lost steam today after a press conference by Chinese officials failed to sustain investor exuberance over previously announced stimulus measures.

Shares of the electric carmaker Li Auto (NASDAQ: LI) traded nearly 7.5% lower as of midday, while shares of the search giant and artificial intelligence company Baidu (NASDAQ: BIDU) fell 6.3%. Shares of the fast-food company Yum China Holdings (NYSE: YUMC) were down 5.6%.

The Hang Seng Index, which tracks large stocks in Hong Kong and mainland China, fell 9.4% today after China's National Development and Reform Commission (NDRC) held a press conference that provided minimal details on future stimulus.

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Source Fool.com

National Cinemedia Inc. Stock

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