Li Auto Inc LI shares are trading higher by 7.9% to $42.97 Tuesday morning. Shares of Chinese stocks are trading higher following strong earnings from PDD Holdings.
Chinese authorities also recently took measures to boost investor confidence including a cut to taxes on stock trading, which has lifted Chinese stocks.
What Happened?
PDD Holdings reported second-quarter FY23 revenue growth of 66% year-on-year to $7.21 billion, beating the consensus of $6.07 billion.
Non-GAAP earnings per ADS of $1.44 beat the consensus of $1.01. Revenues from online marketing services and others rose 50% Y/Y to $5.23 billion. Revenues from transaction services jumped 131% Y/Y to $1.98 billion...Read More
See Also: China Takes Drastic Measures To Shield Economy From Real Estate Storm
According to data from Benzinga Pro, Li Auto has a 52-week high of $47.33 and a 52-week low of $12.52.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
