Why KE Holdings (BEKE) Shares Are Popping Off Friday

Why KE Holdings (BEKE) Shares Are Popping Off Friday

KE Holdings Inc - ADR BEKE shares are trading higher by 21.16% to $13.74 Friday afternoon. Shares of several Chinese stocks are trading higher on reports the country eased Covid measures.

What Happened?

China's new top leadership has reaffirmed the "dynamic-zero" COVID-19 policy on Thursday, with officials in Guangzhou urging residents to work from home, reported Reuters.

Additionally in macroeconomic news, New bank lending in China declined more than expected in October, with 615.2 billion yuan ($84.86 billion) of new yuan loans given in October, versus 2.47 trillion yuan in September, reported Reuters...Read More

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According to data from Benzinga Pro, BEKE has a 52-week high of $25.08 and a 52-week low of $7.31.

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