Chinese Stocks Dominate Mid Cap Space - Bilibili And XPeng Are Among Top 7 Mid Cap Gainers Last Week (Sept 23-Sept 27): Are The Others In Your Portfolio?
Author: Lekha Gupta | September 29, 2024 01:01pm
Last week, China's central bank announced plans to cut banks' reserve requirement ratio (RRR) by 50 basis points or half a percentage point, boosting the stocks of U.S.-listed Chinese companies across sectors.
These seven mid-cap stocks were the best performers in the last week. Are they in your portfolio?
- Lufax Holding Ltd (NYSE:LU) shares were up 23.48%.
- Bilibili Inc. (NASDAQ:BILI) shares jumped 32.47%, probably due to continued strength following a report suggesting that China would issue up to $284 billion in sovereign debt as part of a stimulus.
- KANZHUN LIMITED (NASDAQ:BZ) shares upped 26.63%.
- TAL Education Group (NYSE:TAL) stock escalated 27.23%, benefiting from an aggressive monetary stimulus introduced by the People's Bank of China (PBoC).
- XPeng Inc. (NYSE:XPEV) stock gained 32.50% last week amid continued strength following a report suggesting China will issue up to $284 billion of sovereign debt as part of a stimulus.
- MP Materials Corp. (NYSE:MP) stock gained 32.40% last week after Baird raised its price forecast on the stock from $20 to $25.
- Rocket Lab USA, Inc.'s (NASDAQ:RKLB) stock gained 30.92% last week after several analysts raised their price forecasts.
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Posted In: BILI BZ LU MP RKLB TAL XPEV
