TCOM - These Nasdaq Stocks Are Leading the Charge Thursday
Investors were upbeat about the prospects for stocks on Thursday, and the market roared higher to open the session. As of 10 a.m. EDT, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up more than 1%, continuing its upward momentum from a nice bounce the previous day.
It's natural for U.S. investors to think of the Nasdaq Composite and its more selective peer, the Nasdaq-100 Index , as being composed of American companies. Yet unlike some other indexes, the methodology for the Nasdaq-100 doesn't discriminate against overseas companies, merely looking at market capitalization. As a result, you'll find several Chinese stocks inside the Nasdaq-100, and it was those stocks that helped lead the way for the overall market on Thursday morning.
Chinese stocks have seen their share of turbulence lately, but the sentiment among investors this morning was unquestionably positive. Shares of Chinese companies saw some of the biggest gains among Nasdaq-listed stocks. E-commerce company JD.com (NASDAQ: JD) was up more than 5% just after the open. Internet search giant Baidu (NASDAQ: BIDU) posted a gain of almost 4%, while Pinduoduo (NASDAQ: PDD) followed suit with a nearly 5% rise. Video game leader Netease (NASDAQ: NTES) was also sharply higher, gaining 4.5%, and the online travel website provider Trip.com (NASDAQ: TCOM) was up more than 2%.
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These Nasdaq Stocks Are Leading the Charge Thursday