Why Shares of Full Truck Alliance, Gaotu Techedu, and Yatsen Are Rising This Week
Shares of many Chinese stocks rebounded this week after seeing positive economic data and as some companies reported earnings results as well.
For the week, shares of the digital freight company Full Truck Alliance (NYSE: YMM) traded more than 17% higher as of noon ET, according to data from S&P Global Market Intelligence. Meanwhile, shares of the online tutoring company Gaotu Techedu (NYSE: GOTU) traded close to 28% higher, while shares of the Chinese beauty company Yatsen Holding (NYSE: YSG) were up roughly 19%.
The Chinese economy was plagued in 2022 by lockdowns across major cities that were meant to slow the spread of COVID-19. But those lockdowns also pushed people inside for weeks and months, grinding economic activity to a halt.
Source Fool.com