Stock Track | NetEase Soars as Central Bank Reinforces Market Support

Stock Track

2024-10-18

NetEase Inc. (NTES), a leading Chinese internet technology company, saw its stock surge 6.61% in the past 24 hours, outperforming the broader market. The rally came after the People's Bank of China (PBOC) unveiled a series of measures aimed at supporting the country's equity markets and boosting economic growth.

In premarket trading, Chinese American Depositary Receipts (ADRs) and exchange-traded funds (ETFs) rallied, with NetEase among the top gainers. The PBOC announced a specialized re-lending facility to help companies buy back shares and a swap facility to provide liquidity for institutional investors to purchase stocks.

Adding to the positive sentiment, Chinese President Xi Jinping emphasized the importance of science and technology in driving China's modernization efforts. This bodes well for tech companies like NetEase, which operates popular online games and various internet services.

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。

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(NTES), a leading Chinese internet technology company, saw its stock surge 6.61% in the past 24 hours, outperforming the broader market. The rally came after the People's Bank of China (PBOC) unveiled a series of measures aimed at supporting the country's equity markets and boosting economic growth.</p>\n<p>In premarket trading, Chinese American Depositary Receipts (ADRs) and exchange-traded funds (ETFs) rallied, with NetEase among the top gainers. The PBOC announced a specialized re-lending facility to help companies buy back shares and a swap facility to provide liquidity for institutional investors to purchase stocks.</p>\n<p>Adding to the positive sentiment, Chinese President Xi Jinping emphasized the importance of science and technology in driving China's modernization efforts. 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