Why Chinese Stocks Alibaba, Tencent, and PDD Holdings Were Rallying Despite a Tariff War
Tencent (OTC: TCEHY), and PDD Holdings (NASDAQ: PDD) were rallying on Tuesday, up 4.7%, 4.1%, and 8.8%, respectively, as of 1 p.m. ET. It seems counterintuitive that Chinese stocks would be rising, given that China just announced countermeasures today as a response to U.