Shares of several Chinese stocks trading on U.S. exchanges perked up Thursday as more positive inflation news came in and sentiment from Wall Street was generally positive.
Shares of the large Chinese e-commerce company Alibaba Group HOlding (NYSE: BABA) traded roughly 3.3% higher as of 1:32 p.m. ET today. Shares of another large Chinese e-commerce company, JD.com (NASDAQ: JD) , traded more than 3% higher and shares of the digital freight platform Full Truck Alliance (NYSE: YMM) traded nearly 9% higher.
The market continued to get good news on inflation today with the latest data from the producer price index (PPI) coming in lower in July than economists had expected. This follows data yesterday that showed the consumer price index (CPI) in July rose at a much smaller pace than economists had been expecting on a year-over-year basis. From June, the CPI remained unchanged.
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Why Shares of Alibaba, JD.com, and Full Truck Alliance Are Rising Today