Shares of iQiyi Inc. (IQ), a leading online entertainment service in China, soared by 15.19% on Monday, September 24, 2024, as part of a broader rally in Chinese stocks listed in the U.S. The surge was fueled by reports that China's central bank, the People's Bank of China (PBOC), is considering plans to unleash at least $113 billion (800 billion yuan) in initial liquidity support for the country's struggling equity market.
According to reports, the measures under consideration include setting up a swap facility allowing securities firms, funds, and insurance companies to tap liquidity from the PBOC to buy stocks. Additionally, a specialized re-lending facility for listed companies and major shareholders to buy back shares and raise holdings is also being considered.
The proposed liquidity support plans fueled optimism among investors, leading to a rally in Chinese American Depository Receipts (ADRs) listed in the U.S., including iQiyi. The company's stock surged nearly 11% in Monday's trading session, as investors welcomed the potential boost to China's equity market and broader economy.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。