Baidu and PDD Holdings Are Falling Today, While GDS Holdings Trades Higher

Chinese stocks are struggling to find direction today as investors try to decipher comments from a government press conference over the weekend regarding the degrees of stimulus the Chinese government might implement. Chinese stocks were on a rip-roaring run over the last month until the rally fizzled last week.Shares of the search engine giant and artificial intelligence company Baidu (NASDAQ: BIDU) and the e-commerce company PDD Holdings (NASDAQ: PDD) had fallen about 4% and 5.7%, respectively, at 12:30 p.m. ET. Meanwhile, shares of the data center company GDS Holdings (NASDAQ: GDS) were trading 4.5% higher.Investors had been gearing up for a Saturday press conference from China's Finance Ministry that would help clarify what stimulus measures the government would put in place and when. Several weeks ago, the Chinese government and the country's central bank issued their initial stimulus efforts, including lowering mortgage down payments and mortgage rates, reducing bank cash reserve requirements, and pledging to inject capital into Chinese financial firms.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool