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home / news releases / TCEHY - Alibaba Baidu gains highlight advances for Chinese Internet stocks

TCEHY - Alibaba Baidu gains highlight advances for Chinese Internet stocks

Tencent Holdings Ltd. ADR
Chinese tech stocks started the week on a mostly upbeat note as the likes of Alibaba (NYSE:BABA), Weibo (WB) and Tencent Holdings (OTCPK:TCEHY) all rose, and Baidu (NASDAQ:BIDU) got some positive sentiment from Deutsche Bank analyst Leo Chiang. In a research note Tuesday, Chiang raised his price target on Baidu's (BIDU) stock to $156 a share on the grounds that the company should continue to show more signs of recovery following an upbeat quarterly report last week. Chiang said such a recovery would also depend on larger economic issues and the Covid-19 situation. Baidu (BIDU) were up by 4% as trading progressed, Tuesday.  Among other Chinese Internet and tech companies, Joyy Inc.(YY) shares climbed 6.5% ahead of its quarterly results after the market close. Meanwhile, Weibo (WB) edged up by 0.7%, Tencent (OTCPK:TCEHY) and Pinduoduo (PDD) each rose 4.5% and JD.com (JD) shares were up by almost 6%. Alibaba (BABA)

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Alibaba, Baidu gains highlight advances for Chinese Internet stocks
Stock Information
Company Name: Tencent Holdings Ltd. ADR
Stock Symbol: TCEHY
Market: OTC
Website: tencent.com
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