Why Pinduoduo, Baozun, and Didi Stocks Rallied Tuesday

·3 min read
Why Pinduoduo, Baozun, and Didi Stocks Rallied Tuesday

In the face of a far-reaching correction and ongoing bear market for technology companies, some of China's most widely followed stocks staged a broad relief rally on Tuesday. Like many technology stocks, these issues had fallen to multi-year lows, as investors considered a resurgence of the pandemic in China, an ongoing government regulatory crackdown, and the uncertainty of the overall economic picture. China's Vice Premier Liu He, the country's top economic advisor, appeared at a symposium Tuesday, and said after the event that Beijing would support companies that are central to the digital economy in China.

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