KE Holdings Inc., a leading integrated online and offline platform for housing transactions and services in China, saw its stock soar 5.09% in morning trading on Thursday.
The surge came as Chinese tech stocks listed on U.S. exchanges rallied following strong earnings reports from e-commerce giant Alibaba and online entertainment platform Bilibili. Alibaba's shares jumped 14% after its earnings release, while Bilibili's stock surged 16% on better-than-expected results.
The positive earnings news from these tech heavyweights boosted investor sentiment towards Chinese ADRs, including KE Holdings Inc. The rally was fueled by optimism about the growth potential of China's tech sector and the resilience of these companies' business models.
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