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Why Lufax, GDS Holdings, IQIYi, Weibo And Full Truck Alliance Shares Are Popping Off

Benzinga · 11/15/2022 14:15

Lufax Holding Ltd - ADR (NYSE:LU), GDS Holdings Ltd - ADR (NASDAQ:GDS), IQIYI Inc - ADR (NASDAQ:IQ), Weibo Corp (NASDAQ:WB) and Full Truck Alliance Co Ltd - ADR (NYSE:YMM) are all trading sharply higher during Tuesday's session. Shares of Chinese companies are trading higher amid multiple recent catalysts including the Biden-Xi G20 meeting, property sector support and lighter-than-expected US inflation data.

Additionally, a report released by the National Bureau of Statistics also showed online retail sales continued to increase and its contribution to overall retail sales also improved.

The NBS report showed online retail sales rose 7.2% year-over-year in the Jan-Oct period, faster than the 6.1% growth in the Jan-Sept period.

According to data from Benzinga Pro:

  • LU is trading higher by 19.05% to 2.25
  • GDS is higher by 21.40% to $16.45
  • IQ is higher by 19.17% to $3.17
  • WB is higher by 11.05% to $15.25
  • YMM is higher by 11.52% to $7.26