Shares of the Chinese fintech company Up Fintech Holding (NASDAQ: TIGR) traded roughly 11% higher as of 2:45 p.m. ET, after Chinese stocks reacted positively to broader macroeconomic news in China today.
The People's Bank of China earlier today reduced its one-year loan prime rate to 3.7% from 3.8%, while it trimmed the country's five-year loan prime rate to 4.6% from 4.65%. China's central bank did this because it is worried its economy might be slowing.
Image source: Getty Images.
For further details see:
Why Shares of Up Fintech Holding Are Up Today