Gaotu Techedu Inc. (GOTU) saw its stock surge 12.34% in pre-market trading on Monday, leading the broader rally in Chinese stocks. This significant movement came after China revealed its plans to implement an "appropriately loose" monetary policy next year, marking the first such easing stance since 2010.
During a meeting of top Communist Party officials, the Chinese government pledged to adopt a more proactive fiscal policy and take "unconventional" counter-cyclical measures to boost consumption and domestic demand. This announcement sparked optimism among investors, as the looser monetary policy is expected to provide a tailwind for Chinese companies and the broader economy.
As a leading online education platform in China, Gaotu Techedu Inc. could benefit from increased consumer spending and a potential recovery in economic growth resulting from the government's policy shift. Investors anticipate that this move will support the company's growth prospects and drive its stock higher.
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