PDD - Recent Spikes In Baidu And iQIYI Raising Eyebrows

• Chinese investors and fund managers had embarked on their Lunar New Year break but global investors continued to place bullish bets on China's equities.
• The disclosure by Catherine Wood's ARK Invest of Ping An Good Doctor, a Chinese health-tech company, sent the stock soaring.
• Baidu's share price recorded fresh highs for the first time since May 2018, taking the shares past the price congestion channel in 2017-2018, a bullish sign.
• The uptrend in Baidu looks likely to be sustained by positive earnings surprises and analysts scrambling to revise their price targets in response to the surging stock.
• There is a series of positive developments happening at iQIYI, leading its share price to test a two-year-old resistance.

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