Why Shares of KE Holdings, Futu, and Up Fintech Are Flying Today
Shares of many Chinese stocks listed on U.S. exchanges blasted higher today, as the Chinese government expressed plans to ease up on Chinese tech stocks and support foreign listings. Hong Kong's Hang Seng index jumped 9% in its best day of trading since 2008.
The news also comes shortly after U.S. and Chinese officials held talks regarding Russia's ongoing invasion of Ukraine.
Shares of the large Chinese real estate platform KE Holdings (NYSE: BEKE) had exploded more than 57% higher as of 1:47 p.m. ET today. Shares of the Hong Kong-based online wealth management and brokerage company Futu Holdings (NASDAQ: FUTU) traded 36% higher, while shares of online broker Up Fintech Holding (NASDAQ: TIGR) had risen more than 28%.
Source Fool.com
