Shares of WB-SW (NASDAQ: 09898) surged 13.49% in premarket trading on Monday, leading a broader rally in U.S.-listed Chinese stocks fueled by recent stimulus measures announced by Beijing aimed at reviving the country's economy.
The equity market rally in China swept across major sectors such as e-commerce, electric vehicles, gaming, search engines, online brokers, online education, and social media, as investors cheered the government's efforts to boost economic growth. Companies like Alibaba, JD.com, Li Auto, Nio, Bilibili, Baidu, Futu Holdings, and TAL Education Group witnessed significant gains.
While WB-SW's shares experienced a substantial spike, the news did not provide specific details on how the company's business operations could directly benefit from the economic stimulus measures. However, as a major player in the Chinese market, WB-SW is likely to benefit from the overall improvement in consumer sentiment and economic activity resulting from the government's support.
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