KE Holdings Inc – ADR (NYSE:BEKE) shares are trading higher by 4.7% to $13.97 Tuesday afternoon. Shares of several Chinese stocks are seeing strength following a report that China is contemplating a 2 trillion yuan ($278 billion) stock market rescue package.
What Happened In China?
Chinese authorities are contemplating a significant rescue package to stabilize the struggling stock market. Plans include establishing a 2 trillion yuan ($278 billion) stabilization fund, mainly funded by offshore accounts of Chinese state-owned enterprises.
The fund’s objective is to buy shares onshore through the Hong Kong exchange link, addressing the impact of foreign investors’ withdrawal, evident in more pronounced declines of Chinese stocks on Hong Kong’s Hang Seng Index compared to domestic shares…Read More
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According to data from Benzinga Pro, BEKE has a 52-week high of $21.08 and a 52-week low of $12.88.
