Stock Track | Weibo Soars 7% in Premarket as China Stimulus Lifts Sentiment

Stock Track

Oct 02, 2024

Shares of Chinese social media platform Weibo Corp. (WB) rallied over 7% in premarket trading on Tuesday, joining a broader surge in U.S.-listed Chinese stocks as investors cheered Beijing's recent stimulus measures aimed at reviving the country's economic growth.

The premarket surge in Weibo's stock price reflects a renewed investor optimism towards Chinese equities following the government's announcement of stimulus policies to support various sectors, including e-commerce, electric vehicles, and technology.

Along with Weibo, other Chinese companies such as Alibaba, JD.com, Li Auto, Nio, and Baidu also witnessed significant premarket gains, with investors anticipating a potential boost to their business operations and financial performance from the stimulus initiatives.

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