Why Futu, RLX, and Dada Nexus Stocks Keep Rising
Worries over widespread protests against China's zero-COVID policies, which swept China over the weekend, began to subside Tuesday as the scale of the protests moderated. As a result, multiple Chinese stocks are continuing to head high Tuesday morning.
As of 10:45 a.m. ET, online brokerage Futu Holdings Limited (NASDAQ: FUTU) stock is up a strong 10.2%, e-cigarette maker RLX Technology (NYSE: RLX) is even higher at 14.7%, and e-commerce site Dada Nexus (NASDAQ: DADA) is doing best of all -- up 15.8%.
The Washington Post tracked protests ongoing in more than a dozen major Chinese cities last night, but while the protests are ongoing, the Post noted that most demonstrations are now much smaller than what was seen over the weekend. With police stepping in to suppress dissent Monday, the protests have now shrunk to "perhaps dozens of protesters."
Source Fool.com
