LU - Why Shares of 360 DigiTech FinVolution Group and Lufax Holding Are Up This Week
Shares of several Chinese stocks traded on U.S. exchanges bounced back this week after struggling in recent months.
Shares of the Chinese-based fintech firm 360 DigiTech (NASDAQ: QFIN) had risen nearly 15% on the week as of market close Thursday. Meanwhile, shares of the consumer finance company FinVolution Group (NYSE: FINV) traded roughly 13% higher this week, while shares of the online personal lender and wealth management company Lufax Holding (NYSE: LU) had climbed about 10%.
Shares of many Chinese stocks that can be purchased on U.S. exchanges have taken a hit this year and in the third quarter as regulators in China have swiftly cracked down on the sector.
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Why Shares of 360 DigiTech, FinVolution Group, and Lufax Holding Are Up This Week