Here's Why Kanzhun, Full Truck Alliance Shares Are Trading Higher Today

  • The app of online recruitment services company Kanzhun Ltd BZ and two apps of the logistics platform Full Truck Alliance Co Ltd YMM, namely, Yunmanman and Huochebang announced the resumption of new user registrations, Reuters reports.
  • The apps were under review by China’s cyberspace regulator.
  • The Chinese government recently expressed support for the domestic tech industry, which had been undergoing intense scrutiny.
  •, Inc JD renewed the three-year strategic cooperation agreement with Tencent Holding Ltd TCEHY
  • Tencent will continue to offer prominent Level I and Level II access points on its Weixin platform to provide traffic support.
  • They look to continue cooperating in several areas, including communications, technology services, marketing and advertising, and membership services. 
  • will issue shares worth $220 million to Tencent towards the agreement.
  • Tencent sold a $16.4 billion stake in to Walmart Inc WMT in 2021, Reuters reports.
  • Tencent, which first invested in in 2014, owns a 2.7% stake in the company as of March 25.
  • Price Action: YMM shares traded higher by 7.93% at $9.94 in the premarket on the last check Wednesday. BZ shares traded higher by 4.55% at $28.05.
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