U.S. Stock Market Movement | People's Bank of China Announces Multiple Incremental Monetary Policies, Chinese Concept Stocks Rise Collectively
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The People's Bank of China announced a series of incremental monetary policies, leading to a collective rise in popular Chinese concept stocks. Bilibili rose by over 11%, Li Auto and JD.com rose by over 8%, Pinduoduo and Alibaba rose by over 6%, and Baidu rose by over 4%. The policies include lowering the reserve requirement ratio and policy interest rates, reducing mortgage rates, and supporting the stable development of the stock market
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